Appeal allows marketing payments as deductible business expenses under Sec.37; director pay retained; R&D deductible from certificate date under Sec.3...
Registration under s.12AB upheld; CIT(Exemptions) exceeded jurisdiction by deciding taxability instead of preliminary verification and registration di...
The AT dismissed the Department's appeal and upheld the Special Director's refusal to confiscate Rs.89,70,000, concluding that no contravention of s.3(d) was made out because the alleged transfer was interrupted by enforcement action and never materialized; attempts to invoke s.3(c)/s.3(d) and penalty under s.13(2) did not justify confiscation. The tribunal declined to interfere with penalties of Rs.25,00,000 imposed on each appellant. Noting an unexplained 20-year retention, the AT directed the respondent to apply the withheld Rs.89,70,000 against the penalties and refund any surplus to the appellants. All appeals were disposed of accordingly.
The AT dismissed the Department's appeal and upheld the Special Director's refusal to confiscate Rs.89,70,000, concluding that no contravention of s.3(d) was made out because the alleged transfer was interrupted by enforcement action and never materialized; attempts to invoke s.3(c)/s.3(d) and penalty under s.13(2) did not justify confiscation. The tribunal declined to interfere with penalties of Rs.25,00,000 imposed on each appellant. Noting an unexplained 20-year retention, the AT directed the respondent to apply the withheld Rs.89,70,000 against the penalties and refund any surplus to the appellants. All appeals were disposed of accordingly.
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