Deductibility for charitable donations affirmed where payments to approved relief funds, even if CSR-driven, qualify under the donation deduction sche...
Mis-declaration in import descriptions must be deliberate to justify confiscation; withheld contemporaneous import documents invalidate value redeterm...
Liability for EPCG export shortfall: duty and interest sustained, but confiscation and penalties quashed where no fraud and causes beyond importer con...
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Working capital adjustment in a transfer pricing giving-effect order required proper evidentiary substantiation. The Court noted that the earlier direction to reconsider the claim was not enough because the petitioner failed to comply with the later requisition for working capital details and their impact on profit, and had only furnished an Excel calculation of the adjusted margin. Mere calculations were insufficient; the claim had to be authenticated with supporting documents duly certified by a Chartered Accountant. The matter was therefore remitted for fresh consideration on merits, with liberty to upload the required particulars and an opportunity of hearing before a fresh order was passed.
Working capital adjustment in a transfer pricing giving-effect order required proper evidentiary substantiation. The Court noted that the earlier direction to reconsider the claim was not enough because the petitioner failed to comply with the later requisition for working capital details and their impact on profit, and had only furnished an Excel calculation of the adjusted margin. Mere calculations were insufficient; the claim had to be authenticated with supporting documents duly certified by a Chartered Accountant. The matter was therefore remitted for fresh consideration on merits, with liberty to upload the required particulars and an opportunity of hearing before a fresh order was passed.
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