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 customs classification dispute involving water meters. The tribunal determined the imported water meters should be classified under CTI 9028 2000 (liquid supply meters) rather than CTI 9026 1010 (flow meters). The importer's deliberate misclassification was found to be an attempt to evade customs duty. The tribunal upheld extended period of limitation, confirmed duty demand, and maintained confiscation of goods under section 111(m). Penalties under sections 112, 114A, and 114AA were sustained, while the penalty under section 117 was set aside. The appeal was partially allowed, with the original classification and duty assessment being substantially upheld.
CESTAT adjudicated a customs classification dispute involving water meters. The tribunal determined the imported water meters should be classified under CTI 9028 2000 (liquid supply meters) rather than CTI 9026 1010 (flow meters). The importer's deliberate misclassification was found to be an attempt to evade customs duty. The tribunal upheld extended period of limitation, confirmed duty demand, and maintained confiscation of goods under section 111(m). Penalties under sections 112, 114A, and 114AA were sustained, while the penalty under section 117 was set aside. The appeal was partially allowed, with the original classification and duty assessment being substantially upheld.
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