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 considered a challenge to the Settlement Commission's order on misdeclaration of imported broadcasting equipment as "demo" goods routed through a Free Trade & Warehousing Zone. HC held the misdeclaration intentional and upheld the Commission's jurisdiction and finding of liability, including the substantial customs duty of about Rs. 9.73 crore already paid. However, HC found that the benefit of misdeclaration was for the importing company, not its directors individually. Accordingly, HC quashed the personal penalties on the directors and reduced the company's penalty to Rs. 50 lakh, adjusting Rs. 25 lakh already paid, directing deposit of the balance within three months, and quashing all remaining penalties.
HC considered a challenge to the Settlement Commission's order on misdeclaration of imported broadcasting equipment as "demo" goods routed through a Free Trade & Warehousing Zone. HC held the misdeclaration intentional and upheld the Commission's jurisdiction and finding of liability, including the substantial customs duty of about Rs. 9.73 crore already paid. However, HC found that the benefit of misdeclaration was for the importing company, not its directors individually. Accordingly, HC quashed the personal penalties on the directors and reduced the company's penalty to Rs. 50 lakh, adjusting Rs. 25 lakh already paid, directing deposit of the balance within three months, and quashing all remaining penalties.
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