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...
Rate of tax - classification of goods - sales of ‘sports shoes’ and ‘sports apparel’ - The word ‘garments’ in Entry 52 of IV Schedule is of wide import and ‘sports apparel’ would fall under the said entry - When the Department authorities did not make any product verification, they could not have changed the classification of the ‘sports shoes’ from Entry 46 in Schedule IV, which they had been doing for the previous ten years, to the residuary Entry in V Schedule.
Rate of tax - classification of goods - sales of ‘sports shoes’ and ‘sports apparel’ - The word ‘garments’ in Entry 52 of IV Schedule is of wide import and ‘sports apparel’ would fall under the said entry - When the Department authorities did not make any product verification, they could not have changed the classification of the ‘sports shoes’ from Entry 46 in Schedule IV, which they had been doing for the previous ten years, to the residuary Entry in V Schedule.
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