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...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
