Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
The notes address the constitutional validity of rules requiring royalty, DMF and NMET payments to be included in sale value when computing average sale price for iron-ore royalty. The measure is described as a computation mechanism, not a revision of the statutory royalty rate; accordingly, the three-year restriction on rate enhancement does not apply. Its stated purpose is to prevent manipulation of ex-mine prices and despatch data, curb evasion and protect public revenue. The challenge under Articles 14 and 19(1)(g), and under Section 9 of the MMDR Act, was rejected because the measure had a rational connection with the levy and was not manifestly arbitrary. The maintainability and estoppel objections were also rejected.
The notes address the constitutional validity of rules requiring royalty, DMF and NMET payments to be included in sale value when computing average sale price for iron-ore royalty. The measure is described as a computation mechanism, not a revision of the statutory royalty rate; accordingly, the three-year restriction on rate enhancement does not apply. Its stated purpose is to prevent manipulation of ex-mine prices and despatch data, curb evasion and protect public revenue. The challenge under Articles 14 and 19(1)(g), and under Section 9 of the MMDR Act, was rejected because the measure had a rational connection with the levy and was not manifestly arbitrary. The maintainability and estoppel objections were also rejected.
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