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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Seizure of imported bulk liquid cargo as "Distillate Oil" was challenged on the ground that classification based on cloud point and alleged similarity to automotive diesel was uncertain. The court held that cloud point is not a definitive determinant because operability varies by vessel, climate, and end use, and similarly situated cargo with a higher (less stringent) cloud point had been released, making differential treatment unjustified; consequently, seizure could not rest on that parameter and was unsustainable. It further held that overlapping "diesel fraction" characteristics and ambiguous expert opinions/lab results could not establish that the cargo was automotive diesel, and in such ambiguity classification cannot be inferred merely on probability; therefore, the seizure memo was quashed and release directed. - HC
Seizure of imported bulk liquid cargo as "Distillate Oil" was challenged on the ground that classification based on cloud point and alleged similarity to automotive diesel was uncertain. The court held that cloud point is not a definitive determinant because operability varies by vessel, climate, and end use, and similarly situated cargo with a higher (less stringent) cloud point had been released, making differential treatment unjustified; consequently, seizure could not rest on that parameter and was unsustainable. It further held that overlapping "diesel fraction" characteristics and ambiguous expert opinions/lab results could not establish that the cargo was automotive diesel, and in such ambiguity classification cannot be inferred merely on probability; therefore, the seizure memo was quashed and release directed. - HC
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