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...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
After approval of the corporate insolvency resolution plan by the NCLT, an income-tax assessment founded on a section 148 notice issued only after that approval was impermissible. Applying the principle in Ghanashyam Mishra, the HC treated prior claims as extinguished once the resolution plan was approved, so a post-approval tax demand could not be sustained. The impugned assessment order was therefore unsustainable and was set aside.
After approval of the corporate insolvency resolution plan by the NCLT, an income-tax assessment founded on a section 148 notice issued only after that approval was impermissible. Applying the principle in Ghanashyam Mishra, the HC treated prior claims as extinguished once the resolution plan was approved, so a post-approval tax demand could not be sustained. The impugned assessment order was therefore unsustainable and was set aside.
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