Prohibited importation of cosmetics without prior regulatory registration attracts seizure and confiscation; warehousing or re export claims do not cu...
Provisional release on security permitted where cash deposit plus bond secures differential duty; classification and treaty benefits referred for deci...
Customs Valuation Rule Sequence must be followed; single-comparator re-determination and penalties set aside without comparability or proof of mis-dec...
Separately Identifiable Services: transportation found to be the essential character, so Cargo Handling classification and extended limitation rejecte...
Buy-back of shares by an Indian subsidiary was treated as a corporate reorganisation because the transaction involved transfer of shares within the same corporate group and changed the form of the foreign shareholder's interest without altering its underlying ownership. Relying on the understanding of corporate restructuring reflected in professional guidance and the object of Article 13(5) of the India-Netherlands DTAA, the Tribunal held that the resulting gains fell within that treaty provision. The gains were therefore not taxable in India, and the assessee's appeal was allowed by majority.
Buy-back of shares by an Indian subsidiary was treated as a corporate reorganisation because the transaction involved transfer of shares within the same corporate group and changed the form of the foreign shareholder's interest without altering its underlying ownership. Relying on the understanding of corporate restructuring reflected in professional guidance and the object of Article 13(5) of the India-Netherlands DTAA, the Tribunal held that the resulting gains fell within that treaty provision. The gains were therefore not taxable in India, and the assessee's appeal was allowed by majority.
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