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 held that the imported "ethylene ripener" containing ethephon is an "insecticide" under Section 3(e) of the Insecticide Act, 1968, as ethephon is listed in its Schedule. Even if imported for non-insecticidal use, DGFT Notification No. 106/(RE-2013)/2009-2014 validly mandates an import permit from the Registration Committee, which the importers failed to obtain despite their undertaking before the Bombay HC. The goods, imported in violation of the notification and misdeclared to circumvent restrictions, were rightly held liable to confiscation under Section 111(d), (f) and (m) of the Customs Act, 1962, with an option of re-export, failing which absolute confiscation and destruction would follow. Penalties under Sections 112(a) and 114AA on all appellants, including the customs broker, were upheld. The appeals were dismissed.
CESTAT held that the imported "ethylene ripener" containing ethephon is an "insecticide" under Section 3(e) of the Insecticide Act, 1968, as ethephon is listed in its Schedule. Even if imported for non-insecticidal use, DGFT Notification No. 106/(RE-2013)/2009-2014 validly mandates an import permit from the Registration Committee, which the importers failed to obtain despite their undertaking before the Bombay HC. The goods, imported in violation of the notification and misdeclared to circumvent restrictions, were rightly held liable to confiscation under Section 111(d), (f) and (m) of the Customs Act, 1962, with an option of re-export, failing which absolute confiscation and destruction would follow. Penalties under Sections 112(a) and 114AA on all appellants, including the customs broker, were upheld. The appeals were dismissed.
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