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...
Validity of Settlement Commission orders - The case involved petitions seeking directives for the issuance of formal orders under section 245D (4) of the Income Tax Act, 1961, reflecting settlement terms pronounced by the Settlement Commission. While petitioners asserted the settlement's conclusion, respondent No. 2 contested, citing discrepancies in official records. - Upon review, the High Court found the affidavit of the Vice President and Member of the Settlement Commission to be conclusive evidence of settlement. Despite respondent No. 2's objections, the High Court directed the Interim Board to issue the requested orders, ensuring the proper administration of justice.
Validity of Settlement Commission orders - The case involved petitions seeking directives for the issuance of formal orders under section 245D (4) of the Income Tax Act, 1961, reflecting settlement terms pronounced by the Settlement Commission. While petitioners asserted the settlement's conclusion, respondent No. 2 contested, citing discrepancies in official records. - Upon review, the High Court found the affidavit of the Vice President and Member of the Settlement Commission to be conclusive evidence of settlement. Despite respondent No. 2's objections, the High Court directed the Interim Board to issue the requested orders, ensuring the proper administration of justice.
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