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...
Customs duty levied on imported goods destroyed by fire in SEZ units. SEZ units procured duty-free goods indigenously, availing exemptions under SEZ Act, 2005 and Rules, 2006. However, the goods were not used for authorized operations, violating provisions. Remission of customs duty sought. Tribunal consistently held that in case of destruction due to natural causes in SEZ, the unit is entitled to duty remission u/s 23 of Customs Act, 1962. However, appellant did not opt for duty remission by filing appropriate application before the competent authority. Matter remanded to Adjudicating Authority for appellant to file application seeking duty remission u/s 23 of Customs Act, 1962 and relevant rules. Impugned order set aside, appeal allowed for remand to pass fresh order after observing principles of natural justice.
Customs duty levied on imported goods destroyed by fire in SEZ units. SEZ units procured duty-free goods indigenously, availing exemptions under SEZ Act, 2005 and Rules, 2006. However, the goods were not used for authorized operations, violating provisions. Remission of customs duty sought. Tribunal consistently held that in case of destruction due to natural causes in SEZ, the unit is entitled to duty remission u/s 23 of Customs Act, 1962. However, appellant did not opt for duty remission by filing appropriate application before the competent authority. Matter remanded to Adjudicating Authority for appellant to file application seeking duty remission u/s 23 of Customs Act, 1962 and relevant rules. Impugned order set aside, appeal allowed for remand to pass fresh order after observing principles of natural justice.
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