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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The HC allowed the writ petition filed by the importer-petitioner seeking refund of excess customs duty paid as 'Infra Cess' on imported golf carts. Holding that the goods were clearly covered by the exemption under Notification 1/2016-Infrastructure Cess, the HC ruled that the benefit of exemption ought to have been granted and the collected amount cannot be retained. Relying on the law that refund must follow proper re-assessment, the HC directed re-assessment of the relevant Bills of Entry within two months and issuance of consequential refund thereafter. The petition was disposed of accordingly.
The HC allowed the writ petition filed by the importer-petitioner seeking refund of excess customs duty paid as 'Infra Cess' on imported golf carts. Holding that the goods were clearly covered by the exemption under Notification 1/2016-Infrastructure Cess, the HC ruled that the benefit of exemption ought to have been granted and the collected amount cannot be retained. Relying on the law that refund must follow proper re-assessment, the HC directed re-assessment of the relevant Bills of Entry within two months and issuance of consequential refund thereafter. The petition was disposed of accordingly.
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