Capital-gains exemption for charitable trusts extends to qualifying fixed deposits, while unrecoverable TDS write-offs may constitute income applicati...
India-UK treaty characterisation of telecom-service receipts as business profits withstands unilateral domestic-law amendments for Indian tax purposes...
Transfer-pricing reimbursement adjustments require uncontrolled comparables and cannot become expense-genuineness reviews, resulting in deletion of th...
An uncancelled duty-free import licence obtained through fraud or misrepresentation remains voidable rather than void from inception. Where the licence was genuinely issued, endorsed transferable and not cancelled by the competent authority, a bona fide transferee for value without notice of third-party fraud in export-obligation certification is distinct from the fraudster and cannot be subjected to duty, interest or redemption fine for imports under that licence. The principle that fraud vitiates everything does not displace those rights in this setting. A statutory appeal confined to substantial questions framed at admission cannot be decided on an unframed limitation ground unless an additional question is formally permitted. The duty demand, interest and redemption fine were quashed.
An uncancelled duty-free import licence obtained through fraud or misrepresentation remains voidable rather than void from inception. Where the licence was genuinely issued, endorsed transferable and not cancelled by the competent authority, a bona fide transferee for value without notice of third-party fraud in export-obligation certification is distinct from the fraudster and cannot be subjected to duty, interest or redemption fine for imports under that licence. The principle that fraud vitiates everything does not displace those rights in this setting. A statutory appeal confined to substantial questions framed at admission cannot be decided on an unframed limitation ground unless an additional question is formally permitted. The duty demand, interest and redemption fine were quashed.
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TaxTMI 
TaxTMI 
of 4886 
