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...
CESTAT adjudicated a dispute regarding seized traveller's cheques, finding the customs department's encashment and retention of funds arbitrary. The tribunal determined that the cheques, being non-perishable dollar-denominated instruments, should have been handled with greater procedural care. Critically, the court ruled that the appellant was entitled to interest on the deposited amount from the date of deposit, less redemption fines and penalties, with payment mandated within two months. The decision emphasized preventing unjust enrichment and protecting property rights by recognizing the potential financial loss to the appellant due to unauthorized fund retention. Appeal was allowed, directing monetary compensation to the appellant.
CESTAT adjudicated a dispute regarding seized traveller's cheques, finding the customs department's encashment and retention of funds arbitrary. The tribunal determined that the cheques, being non-perishable dollar-denominated instruments, should have been handled with greater procedural care. Critically, the court ruled that the appellant was entitled to interest on the deposited amount from the date of deposit, less redemption fines and penalties, with payment mandated within two months. The decision emphasized preventing unjust enrichment and protecting property rights by recognizing the potential financial loss to the appellant due to unauthorized fund retention. Appeal was allowed, directing monetary compensation to the appellant.
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