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 allowed the appeal, set aside the impugned O-in-O and Commissioner (Appeals) orders, and directed grant of refund of SAD by holding the appellant entitled to benefit of Notification No.102/2007-Cus. dated 14.09.2007. The Tribunal found that sale of timber after cutting/sawing does not defeat the notification where import was for subsequent sale, that timber is sold by quantity (CBM) not by piece count, and discrepancies between bill of entry and sales invoices do not justify denial of refund absent proof of diversion. The penalty imposed on the individual authorised signatory was quashed as unsustainable in view of entitlement to the claimed refund.
The CESTAT allowed the appeal, set aside the impugned O-in-O and Commissioner (Appeals) orders, and directed grant of refund of SAD by holding the appellant entitled to benefit of Notification No.102/2007-Cus. dated 14.09.2007. The Tribunal found that sale of timber after cutting/sawing does not defeat the notification where import was for subsequent sale, that timber is sold by quantity (CBM) not by piece count, and discrepancies between bill of entry and sales invoices do not justify denial of refund absent proof of diversion. The penalty imposed on the individual authorised signatory was quashed as unsustainable in view of entitlement to the claimed refund.
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