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...
Vicarious liability under FEMA arises where a person is in charge of and responsible for the company's business; office alone does not establish that responsibility. The Financial Advisor and Chief Accounts Officer's authority to sign export-related, import and bank-account documents established assigned responsibility for export transactions, making him liable for neglect in the company's non-realisation of export proceeds, although consent or connivance was not proved. FEMA penalties are civil and may apply to technical or procedural contraventions without proving mens rea. The Tribunal sustained liability for neglect but limited the penalty to the pre-deposit already made and deleted the balance.
Vicarious liability under FEMA arises where a person is in charge of and responsible for the company's business; office alone does not establish that responsibility. The Financial Advisor and Chief Accounts Officer's authority to sign export-related, import and bank-account documents established assigned responsibility for export transactions, making him liable for neglect in the company's non-realisation of export proceeds, although consent or connivance was not proved. FEMA penalties are civil and may apply to technical or procedural contraventions without proving mens rea. The Tribunal sustained liability for neglect but limited the penalty to the pre-deposit already made and deleted the balance.
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