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...
Misdeclaration of imported polished marble slabs as unpolished slabs. Excess quantity found during physical verification. Customs duty demanded along with interest and penalty imposed. Importer paid duty, interest, and penalty, requested closure u/s 28(5) and 28(6) of Customs Act, 1962. Commissioner held show cause notice premature for duty demand, proceedings concluded u/s 125. Assessment provisional u/s 18(2), not final. Section 28(4) inapplicable, proceedings rightly concluded u/s 125 for provisional assessments. Mis-declaration covered under case law. Provisional release doesn't affect adjudication jurisdiction. Mentioning wrong provision doesn't vitiate proceedings if authority has requisite power. Redemption fine imposable u/s 125 when goods released under bond. Penalty imposed u/s 112(a), omission of Section 114(AA) penalty. Matter remanded to determine nature of proceedings, allow Section 28(5) and 28(6) benefit if assessment not provisional, else finalize assessment, then demand duty u/s 28(4) and allow amnesty.
Misdeclaration of imported polished marble slabs as unpolished slabs. Excess quantity found during physical verification. Customs duty demanded along with interest and penalty imposed. Importer paid duty, interest, and penalty, requested closure u/s 28(5) and 28(6) of Customs Act, 1962. Commissioner held show cause notice premature for duty demand, proceedings concluded u/s 125. Assessment provisional u/s 18(2), not final. Section 28(4) inapplicable, proceedings rightly concluded u/s 125 for provisional assessments. Mis-declaration covered under case law. Provisional release doesn't affect adjudication jurisdiction. Mentioning wrong provision doesn't vitiate proceedings if authority has requisite power. Redemption fine imposable u/s 125 when goods released under bond. Penalty imposed u/s 112(a), omission of Section 114(AA) penalty. Matter remanded to determine nature of proceedings, allow Section 28(5) and 28(6) benefit if assessment not provisional, else finalize assessment, then demand duty u/s 28(4) and allow amnesty.
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