Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Royalty, franchise fee and related marketing spend were not includible in customs assessable value unless the payment was related to the imported goods and made as a condition of sale. The franchise fee here was paid for post-import rights to sell, distribute and promote branded goods in India, so it did not form part of transaction value. Advertisement, promotion and corporate marketing expenditure incurred by the buyer on its own account, and not to satisfy any obligation of the foreign seller, was likewise excluded. The extended period of limitation was unavailable because the import and valuation facts were already within Revenue's knowledge; confiscation, redemption fine and penalty were therefore set aside.
Royalty, franchise fee and related marketing spend were not includible in customs assessable value unless the payment was related to the imported goods and made as a condition of sale. The franchise fee here was paid for post-import rights to sell, distribute and promote branded goods in India, so it did not form part of transaction value. Advertisement, promotion and corporate marketing expenditure incurred by the buyer on its own account, and not to satisfy any obligation of the foreign seller, was likewise excluded. The extended period of limitation was unavailable because the import and valuation facts were already within Revenue's knowledge; confiscation, redemption fine and penalty were therefore set aside.
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