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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CESTAT upheld reclassification of the imported goods as 100% polyester knitted cut fabric under CTI 6001 92 00 ("others - of man-made fibres"), rejecting classification as long pile fabric under CTI 6001 10 90. The consequential duty demand based on such reclassification was sustained. In view of substantial mis-declaration of quantity and nature of goods, and presence of undeclared items, confiscation under sections 111(l) and 111(m) of the Customs Act was affirmed. Penalties on the importer-firm and its main partner under sections 112, 114A and 114AA were also upheld. The impugned order was confirmed in entirety and both appeals were dismissed.
CESTAT upheld reclassification of the imported goods as 100% polyester knitted cut fabric under CTI 6001 92 00 ("others - of man-made fibres"), rejecting classification as long pile fabric under CTI 6001 10 90. The consequential duty demand based on such reclassification was sustained. In view of substantial mis-declaration of quantity and nature of goods, and presence of undeclared items, confiscation under sections 111(l) and 111(m) of the Customs Act was affirmed. Penalties on the importer-firm and its main partner under sections 112, 114A and 114AA were also upheld. The impugned order was confirmed in entirety and both appeals were dismissed.
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