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...
Whether the re-assessment proceedings initiated against the petitioner are barred by limitation? - The amendment made to Section 40 of the Act, cannot be construed so as to open up a liability which had become barred. Even by retrospective operation of law, the aforesaid vested right accrued to the petitioner cannot be taken away - the re-assessment proceedings for the period between April 2006 to December 2006 and April 2007 to December 2007 is held to be barred by limitation. - HC
Whether the re-assessment proceedings initiated against the petitioner are barred by limitation? - The amendment made to Section 40 of the Act, cannot be construed so as to open up a liability which had become barred. Even by retrospective operation of law, the aforesaid vested right accrued to the petitioner cannot be taken away - the re-assessment proceedings for the period between April 2006 to December 2006 and April 2007 to December 2007 is held to be barred by limitation. - HC
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