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 CESTAT upheld the respondents' case, ruling that the allegations of fraudulently obtaining Duty Free Credit Entitlement (DFCE) licenses and engaging in circular trading of cut and polished diamonds were unfounded. The Tribunal affirmed that the DFCE licenses used for imports were valid, as the DGFT had not cancelled or modified them. Consequently, the demands for duty, confiscation of goods, and penalties were dismissed, and the Revenue's appeal was rejected.
The CESTAT upheld the respondents' case, ruling that the allegations of fraudulently obtaining Duty Free Credit Entitlement (DFCE) licenses and engaging in circular trading of cut and polished diamonds were unfounded. The Tribunal affirmed that the DFCE licenses used for imports were valid, as the DGFT had not cancelled or modified them. Consequently, the demands for duty, confiscation of goods, and penalties were dismissed, and the Revenue's appeal was rejected.
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