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 seizure and continued retention of petitioner's 48 grams gold coins by Customs was unsustainable due to non-issuance of a statutory SCN under Section 124 read with Section 110(2) of the Customs Act. Rejecting the Department's contention of an "oral" SCN, HC followed binding precedent that, absent a proper notice within the prescribed period, seized goods must be returned. As no SCN was issued, no oral hearing afforded, and the goods remained with Customs, HC directed unconditional release of the seized gold coins to the petitioner, subject only to fulfilment of conditions stipulated by the Department.
HC held that seizure and continued retention of petitioner's 48 grams gold coins by Customs was unsustainable due to non-issuance of a statutory SCN under Section 124 read with Section 110(2) of the Customs Act. Rejecting the Department's contention of an "oral" SCN, HC followed binding precedent that, absent a proper notice within the prescribed period, seized goods must be returned. As no SCN was issued, no oral hearing afforded, and the goods remained with Customs, HC directed unconditional release of the seized gold coins to the petitioner, subject only to fulfilment of conditions stipulated by the Department.
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