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...
Scope of the term “Principal Officer” of the company for the purposes of initiating prosecution u/s 276B - The High Court opinioned that merely because a person holds an office in a corporate entity would not be sufficient to place that individual in clause (b). The intention of the respondent to treat an individual as the “Principal Officer” must be based on it being satisfied that the person was connected with the management or administration of the company. - The court finds that the respondents failed to establish the petitioner's connection with the management or administration of the company based on the evidence presented. Therefore, the impugned orders are set aside and restored back for fresh adjudication.
Scope of the term “Principal Officer” of the company for the purposes of initiating prosecution u/s 276B - The High Court opinioned that merely because a person holds an office in a corporate entity would not be sufficient to place that individual in clause (b). The intention of the respondent to treat an individual as the “Principal Officer” must be based on it being satisfied that the person was connected with the management or administration of the company. - The court finds that the respondents failed to establish the petitioner's connection with the management or administration of the company based on the evidence presented. Therefore, the impugned orders are set aside and restored back for fresh adjudication.
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