Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
Jurisdictional facts in certificate-of-origin discrepancies can support customs show-cause proceedings, leaving factual explanations for departmental ...
Market value for captive electricity consumption follows industrial consumer tariffs, supporting profit computation for the power generation deduction...
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Redemption of confiscated prohibited foreign currency is discretionary, but the discretion must be exercised judiciously on the facts rather than rejected mechanically because the currency is prohibited. Where no material establishes a previous violation and the imposed penalty has been paid, refusal to permit redemption requires reconsideration. Redemption fine must remain within the statutory ceiling and follow principles governing release of confiscated foreign currency. The refusal of release was set aside, with redemption fine to be determined according to law and the currency released upon payment.
Redemption of confiscated prohibited foreign currency is discretionary, but the discretion must be exercised judiciously on the facts rather than rejected mechanically because the currency is prohibited. Where no material establishes a previous violation and the imposed penalty has been paid, refusal to permit redemption requires reconsideration. Redemption fine must remain within the statutory ceiling and follow principles governing release of confiscated foreign currency. The refusal of release was set aside, with redemption fine to be determined according to law and the currency released upon payment.
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