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...
Functional comparability governs software-service benchmarking: dissimilar companies are excluded, while related-party filters, margins and working-ca...
Pressure relief valves used in a common rail fuel injection system were held classifiable as "safety or relief valves" under CTI 8481 40 00, not as diesel engine parts under CTI 8409 99 41. Applying Section Note 2 to Section XVI and the HSN Explanatory Notes, parts that are complete valves are classifiable in their specific heading even if designed for use with a particular machine, and resort to Section Note 2(b) arises only if Section Note 2(a) does not apply. As the goods were complete valves that merely relieve excess pressure and do not regulate fluid flow as machinery parts, reclassification under CTI 8409 99 41 was rejected and the appeal was allowed. - CESTAT
Pressure relief valves used in a common rail fuel injection system were held classifiable as "safety or relief valves" under CTI 8481 40 00, not as diesel engine parts under CTI 8409 99 41. Applying Section Note 2 to Section XVI and the HSN Explanatory Notes, parts that are complete valves are classifiable in their specific heading even if designed for use with a particular machine, and resort to Section Note 2(b) arises only if Section Note 2(a) does not apply. As the goods were complete valves that merely relieve excess pressure and do not regulate fluid flow as machinery parts, reclassification under CTI 8409 99 41 was rejected and the appeal was allowed. - CESTAT
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