Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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HC held that Acrylonitrile (ACN) imported by petitioner for manufacture of synthetic rubber is used exclusively for non-insecticidal purposes and therefore falls within the exemption under Section 38(b) of the Insecticides Act, 1968. Consequently, none of the provisions of the Act, including Section 9 on mandatory registration, apply to such imports. As there is no statutory or notified requirement for an import permit for ACN, the Public Notice F. No. 04-01/2022-CIR-I dated 17.02.2022, insofar as it mandates import permits for non-insecticidal use of ACN, was held ultra vires and quashed to that extent. The petition was allowed in favour of the petitioner.
HC held that Acrylonitrile (ACN) imported by petitioner for manufacture of synthetic rubber is used exclusively for non-insecticidal purposes and therefore falls within the exemption under Section 38(b) of the Insecticides Act, 1968. Consequently, none of the provisions of the Act, including Section 9 on mandatory registration, apply to such imports. As there is no statutory or notified requirement for an import permit for ACN, the Public Notice F. No. 04-01/2022-CIR-I dated 17.02.2022, insofar as it mandates import permits for non-insecticidal use of ACN, was held ultra vires and quashed to that extent. The petition was allowed in favour of the petitioner.
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