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...
Maintainability of appeal - monetary limit involved in the appeal - Smuggling - Gold Bars - The case involved the confiscation of 3.5 kg of gold bars by the Custom Authority, which was later contested by the respondents in legal proceedings. The respondents claimed that the gold was possessed as per the terms of a Will executed by one of their grandmothers. The Tribunal found the Will to be valid and accepted that the gold was legally obtained through the legacy mentioned in the Will. Consequently, the Tribunal ruled that the gold did not constitute smuggled items under the Customs Act. As a result, the imposition of penalties by the revenue was deemed unjustified, and the appeals were allowed in favor of the respondents. The High court dismissed the appeals below the monetary limit, as per the litigation policy, with no order as to costs.
Maintainability of appeal - monetary limit involved in the appeal - Smuggling - Gold Bars - The case involved the confiscation of 3.5 kg of gold bars by the Custom Authority, which was later contested by the respondents in legal proceedings. The respondents claimed that the gold was possessed as per the terms of a Will executed by one of their grandmothers. The Tribunal found the Will to be valid and accepted that the gold was legally obtained through the legacy mentioned in the Will. Consequently, the Tribunal ruled that the gold did not constitute smuggled items under the Customs Act. As a result, the imposition of penalties by the revenue was deemed unjustified, and the appeals were allowed in favor of the respondents. The High court dismissed the appeals below the monetary limit, as per the litigation policy, with no order as to costs.
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