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...
Penalty u/s 271(1)(b) - failure to sign on the so called "Consent Letter" which is not an authorized form notified by the Government - In the context of section 273B of the Act, the expression "reasonable cause" has been explained to mean a cause which prevents a man of ordinary prudence and average intelligence, acting under normal circumstances, without negligence or inaction or want of bona fide. - Levy of penalty deleted - AT
Penalty u/s 271(1)(b) - failure to sign on the so called "Consent Letter" which is not an authorized form notified by the Government - In the context of section 273B of the Act, the expression "reasonable cause" has been explained to mean a cause which prevents a man of ordinary prudence and average intelligence, acting under normal circumstances, without negligence or inaction or want of bona fide. - Levy of penalty deleted - AT
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