Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
Religious purpose exclusion versus charitable purpose: non overriding religious objects do not attract Explanation 3, registration directed under sect...
Transfer pricing adjustment under s.92 required correct segmentation where the tax authority had aggregated marketing support/indenting and spare parts trading (AMC) as a single segment. The Tribunal held benchmarking must be performed separately for the two segments as presented by the taxpayer; the TPO must re-examine comparables and verify whether the taxpayer's results fall within the tolerance range under the proviso to s.92C(2), and the ALP determination was remanded. On non-compete fee, in light of the latest binding precedent, it was held to be revenue in nature; the AO was directed to treat it accordingly and to recompute consequential depreciation impact already claimed with the taxpayer's assistance - ITAT
Transfer pricing adjustment under s.92 required correct segmentation where the tax authority had aggregated marketing support/indenting and spare parts trading (AMC) as a single segment. The Tribunal held benchmarking must be performed separately for the two segments as presented by the taxpayer; the TPO must re-examine comparables and verify whether the taxpayer's results fall within the tolerance range under the proviso to s.92C(2), and the ALP determination was remanded. On non-compete fee, in light of the latest binding precedent, it was held to be revenue in nature; the AO was directed to treat it accordingly and to recompute consequential depreciation impact already claimed with the taxpayer's assistance - ITAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4826 
Join Channel 
