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 allowed the appeal filed by the auction-purchaser, holding that recovery of pre-liquidation dues such as excise and customs duties from the purchaser of the company's assets is impermissible. It held that, in a liquidation sale conducted under the Companies Act, 1956, only sales tax is payable by the purchaser and all other pre-liquidation statutory dues stand settled in accordance with that Act, with no surviving claim against the auction-purchaser. In the absence of any overriding non-obstante clause in the relevant fiscal statutes, the department cannot bypass the official liquidator. The demand notices issued to the appellant-auction-purchaser were, therefore, held to be without jurisdiction and set aside.
CESTAT allowed the appeal filed by the auction-purchaser, holding that recovery of pre-liquidation dues such as excise and customs duties from the purchaser of the company's assets is impermissible. It held that, in a liquidation sale conducted under the Companies Act, 1956, only sales tax is payable by the purchaser and all other pre-liquidation statutory dues stand settled in accordance with that Act, with no surviving claim against the auction-purchaser. In the absence of any overriding non-obstante clause in the relevant fiscal statutes, the department cannot bypass the official liquidator. The demand notices issued to the appellant-auction-purchaser were, therefore, held to be without jurisdiction and set aside.
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