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...
For penalties for contravention of cash-receipt restrictions, proceedings commence when the Joint Commissioner, as the competent authority, issues a notice affording an opportunity of hearing; an Assessing Officer's proposal merely forwards material and does not initiate proceedings. The penalty order must be passed within six months from the end of the month of that notice. Although no express initiation period applies after receipt of the proposal, initiation should occur within a reasonable time, treated here as six months from the end of that month. Notices need not contain detailed factual particulars if the assessee receives a reasonable hearing and replies are considered. No separately recorded satisfaction by the Joint Commissioner is required before initiation.
For penalties for contravention of cash-receipt restrictions, proceedings commence when the Joint Commissioner, as the competent authority, issues a notice affording an opportunity of hearing; an Assessing Officer's proposal merely forwards material and does not initiate proceedings. The penalty order must be passed within six months from the end of the month of that notice. Although no express initiation period applies after receipt of the proposal, initiation should occur within a reasonable time, treated here as six months from the end of that month. Notices need not contain detailed factual particulars if the assessee receives a reasonable hearing and replies are considered. No separately recorded satisfaction by the Joint Commissioner is required before initiation.
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