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...
Destruction of obsolete or unusable duty-free inputs by a 100% Export Oriented Unit within its factory, after intimation to the department, did not attract Customs or Central Excise duty where there was no diversion or misuse. The Foreign Trade Policy, Development Commissioner permissions and exemption notifications were required to be read as a composite scheme, so the absence of an express pre-amendment notification provision could not create an artificial duty liability. Amendments made in 2015 expressly permitting such destruction were clarificatory and retrospective because they aligned the notifications with the pre-existing policy position. Consequential interest and penalties were unsustainable without suppression, wilful misstatement or intent to evade duty.
Destruction of obsolete or unusable duty-free inputs by a 100% Export Oriented Unit within its factory, after intimation to the department, did not attract Customs or Central Excise duty where there was no diversion or misuse. The Foreign Trade Policy, Development Commissioner permissions and exemption notifications were required to be read as a composite scheme, so the absence of an express pre-amendment notification provision could not create an artificial duty liability. Amendments made in 2015 expressly permitting such destruction were clarificatory and retrospective because they aligned the notifications with the pre-existing policy position. Consequential interest and penalties were unsustainable without suppression, wilful misstatement or intent to evade duty.
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