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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Regulation 3(2) of the FEMA (Manner of Receipt and Payment) Regulations requires export receipt in the currency appropriate to the final destination as declared by the exporter, and does not envisage payment by a third party; therefore receipts from third parties for exports made before 08.11.2013 contravened Reg.3(2) - consequence: contravention established. RBI circulars of 08.11.2013 and 04.02.2014 subsequently permitted/regulated third-party payments subject to banks' satisfaction of bona fides and FATF norms - consequence: liberalisation applies prospectively. Directors who signed commercial invoices are liable under Section 42(1) - consequence: company penalty reduced to Rs.15,00,000 and two individual penalties of Rs.3,00,000 each upheld; pre-deposits to be adjusted. - AT
Regulation 3(2) of the FEMA (Manner of Receipt and Payment) Regulations requires export receipt in the currency appropriate to the final destination as declared by the exporter, and does not envisage payment by a third party; therefore receipts from third parties for exports made before 08.11.2013 contravened Reg.3(2) - consequence: contravention established. RBI circulars of 08.11.2013 and 04.02.2014 subsequently permitted/regulated third-party payments subject to banks' satisfaction of bona fides and FATF norms - consequence: liberalisation applies prospectively. Directors who signed commercial invoices are liable under Section 42(1) - consequence: company penalty reduced to Rs.15,00,000 and two individual penalties of Rs.3,00,000 each upheld; pre-deposits to be adjusted. - AT
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