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...
The Kerala HC held that the denial of amendment of 4 shipping bills from Advance Authorisation Scheme to Duty Drawback Scheme solely on the ground of time bar of 3 months from LEO date as per Circular 36/2010-Cus is untenable. Section 149 of the Customs Act, 1962 allows prescribing time limit by regulations. The Shipping Bill (Post Export Conversion) Regulations, 2022 provide 2 years for conversion. Rejecting conversion on time bar is unsustainable. The appeal by the assessee is allowed.
The Kerala HC held that the denial of amendment of 4 shipping bills from Advance Authorisation Scheme to Duty Drawback Scheme solely on the ground of time bar of 3 months from LEO date as per Circular 36/2010-Cus is untenable. Section 149 of the Customs Act, 1962 allows prescribing time limit by regulations. The Shipping Bill (Post Export Conversion) Regulations, 2022 provide 2 years for conversion. Rejecting conversion on time bar is unsustainable. The appeal by the assessee is allowed.
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