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...
EPCG duty exemption requires strict compliance with the stipulated export obligation. Failure to meet that obligation makes the duty saved and applicable interest recoverable unless a waiver is obtained from the competent EPCG or DGFT authority; flood damage to imported machinery did not establish such waiver. The machinery had been installed but was subsequently submerged and damaged beyond repair. While duty and interest liability for non-fulfilment of export obligation remained enforceable, confiscation, redemption fine and penalties were not sustained in those circumstances. The exemption condition was applied strictly, with the importer bearing the burden of proving entitlement to the exemption.
EPCG duty exemption requires strict compliance with the stipulated export obligation. Failure to meet that obligation makes the duty saved and applicable interest recoverable unless a waiver is obtained from the competent EPCG or DGFT authority; flood damage to imported machinery did not establish such waiver. The machinery had been installed but was subsequently submerged and damaged beyond repair. While duty and interest liability for non-fulfilment of export obligation remained enforceable, confiscation, redemption fine and penalties were not sustained in those circumstances. The exemption condition was applied strictly, with the importer bearing the burden of proving entitlement to the exemption.
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