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...
The Court held that the demand for levy/fee/royalty on advertisements made without legislative sanction is violative of Article 265 of the Constitution. The imposition of royalty cannot be equated with tax/levy. The advertising companies had agreed to pay a royalty of Re.1 per square foot in 2005, and the Corporation had the power to revise the rate. However, the Corporation's resolution to charge enhanced royalty u/s 431B of the Act was misplaced as royalty is not tax. Royalty and tax are distinct concepts. The Court balanced equities by directing the advertising companies to pay the enhanced rate of Rs.10 per square foot with 6% simple interest from the date of communication of the resolution. Any excess amount paid over Re.1 per square foot shall be adjusted towards the final liability determined by the Corporation.
The Court held that the demand for levy/fee/royalty on advertisements made without legislative sanction is violative of Article 265 of the Constitution. The imposition of royalty cannot be equated with tax/levy. The advertising companies had agreed to pay a royalty of Re.1 per square foot in 2005, and the Corporation had the power to revise the rate. However, the Corporation's resolution to charge enhanced royalty u/s 431B of the Act was misplaced as royalty is not tax. Royalty and tax are distinct concepts. The Court balanced equities by directing the advertising companies to pay the enhanced rate of Rs.10 per square foot with 6% simple interest from the date of communication of the resolution. Any excess amount paid over Re.1 per square foot shall be adjusted towards the final liability determined by the Corporation.
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