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...
CENVAT Credit - common inputs/input services used for manufacture of stock transferred exempted goods (lime stone) and dutiable products (Cement/Clinker) - The Tribunal clarified that the presence of two different final products (limestone as exempted and cement/clinker as dutiable) necessitates the maintenance of separate accounts for inputs/input services used. The court rejected the appellant's interpretation and emphasized that the rules apply to their situation, thus upholding the demand for payment under Rule 6(3)(i) due to the appellant's failure to maintain separate accounts. - However, the CESTAT agreed with the appellant regarding the limitation period, noting no grounds for invoking the extended period due to the appellant's transparent documentation and periodic disclosures.
CENVAT Credit - common inputs/input services used for manufacture of stock transferred exempted goods (lime stone) and dutiable products (Cement/Clinker) - The Tribunal clarified that the presence of two different final products (limestone as exempted and cement/clinker as dutiable) necessitates the maintenance of separate accounts for inputs/input services used. The court rejected the appellant's interpretation and emphasized that the rules apply to their situation, thus upholding the demand for payment under Rule 6(3)(i) due to the appellant's failure to maintain separate accounts. - However, the CESTAT agreed with the appellant regarding the limitation period, noting no grounds for invoking the extended period due to the appellant's transparent documentation and periodic disclosures.
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