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...
Cylinders imported without valid PESO certificate, violating Rules 31 and 32 of Gas Cylinder Rules, 2016. Goods confiscated u/s 111(d) of Customs Act, 1962. Petitioner argued reasons attributable to PESO Authorities, sought relief from confiscation and penalty. Respondents contended goods arrived before incorrect PESO certificate date, justifying redemption fine and penalty. HC ordered provisional release of cylinders worth Rs. 31 lakhs on furnishing bonds and paying Rs. 2,00,000/- without prejudice, subject to adjudication of show cause notice. Petitioner granted liberty to file reply to notice by 30 October 2024. Payment abides by conclusion of adjudication proceedings.
Cylinders imported without valid PESO certificate, violating Rules 31 and 32 of Gas Cylinder Rules, 2016. Goods confiscated u/s 111(d) of Customs Act, 1962. Petitioner argued reasons attributable to PESO Authorities, sought relief from confiscation and penalty. Respondents contended goods arrived before incorrect PESO certificate date, justifying redemption fine and penalty. HC ordered provisional release of cylinders worth Rs. 31 lakhs on furnishing bonds and paying Rs. 2,00,000/- without prejudice, subject to adjudication of show cause notice. Petitioner granted liberty to file reply to notice by 30 October 2024. Payment abides by conclusion of adjudication proceedings.
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