Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
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...
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The AT upheld the adjudication order regarding contravention of Section 5 of FEMA read with Rule 4 of FEMA (Current Account Transactions) Rules, 2000, for remitting royalty to overseas parties exceeding permissible limit of 5% on local sales. The respondents had filed CST returns and respective State Level Sales Tax Returns disclosing actual sale price for taxation purpose, duly considered by the adjudicating authority. The AT held that sale price only relates to consideration for transferring property in goods without abatement except as provided, rejecting the appellant's reliance on a case pertaining to calculation of net income and not net sale price. The AT was not convinced by the appellant's submissions in view of its observations.
The AT upheld the adjudication order regarding contravention of Section 5 of FEMA read with Rule 4 of FEMA (Current Account Transactions) Rules, 2000, for remitting royalty to overseas parties exceeding permissible limit of 5% on local sales. The respondents had filed CST returns and respective State Level Sales Tax Returns disclosing actual sale price for taxation purpose, duly considered by the adjudicating authority. The AT held that sale price only relates to consideration for transferring property in goods without abatement except as provided, rejecting the appellant's reliance on a case pertaining to calculation of net income and not net sale price. The AT was not convinced by the appellant's submissions in view of its observations.
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