Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
HC dismissed the review petition challenging pre-deposit requirements with Rs.10,000/- costs. The petition failed on procedural and substantive grounds. The Advocate's certificate accompanying the review petition did not comply with Rule 23(iii) of Chapter IV of the Bombay HC Rules. The court rejected petitioner's argument that being a loss-making unit warranted waiver of 10% pre-deposit requirement. The court emphasized that extraordinary jurisdiction cannot be invoked merely to circumvent pre-deposit conditions. The review jurisdiction being limited in scope, and the petition essentially attempting to re-argue the matter, no grounds were established for exercising review powers.
HC dismissed the review petition challenging pre-deposit requirements with Rs.10,000/- costs. The petition failed on procedural and substantive grounds. The Advocate's certificate accompanying the review petition did not comply with Rule 23(iii) of Chapter IV of the Bombay HC Rules. The court rejected petitioner's argument that being a loss-making unit warranted waiver of 10% pre-deposit requirement. The court emphasized that extraordinary jurisdiction cannot be invoked merely to circumvent pre-deposit conditions. The review jurisdiction being limited in scope, and the petition essentially attempting to re-argue the matter, no grounds were established for exercising review powers.
Note: It is a system-generated summary and is for quick reference only.