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...
Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed...
Acquiescence, homebuyer protection and clean-slate resolution principles prevent landowners from disrupting an integrated project through late termina...
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Additional customs duty exemption for textile materials is confined to goods listed in the First Schedule to the Additional Duties of Excise (Goods of Special Importance) Act, 1957. Textile headings omitted from that Schedule by the Finance Act, 2011 no longer meet the notification condition, requiring strict construction of the exemption. The text also addresses extended limitation: where assessed ex-bond Bills of Entry disclosed the goods, classification, duties and claimed exemptions, an incorrect exemption claim alone does not establish suppression or deliberate misstatement intended to evade duty. Consequently, demands may be restricted to the normal period, with penalty not sustainable absent the required intent.
Additional customs duty exemption for textile materials is confined to goods listed in the First Schedule to the Additional Duties of Excise (Goods of Special Importance) Act, 1957. Textile headings omitted from that Schedule by the Finance Act, 2011 no longer meet the notification condition, requiring strict construction of the exemption. The text also addresses extended limitation: where assessed ex-bond Bills of Entry disclosed the goods, classification, duties and claimed exemptions, an incorrect exemption claim alone does not establish suppression or deliberate misstatement intended to evade duty. Consequently, demands may be restricted to the normal period, with penalty not sustainable absent the required intent.
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