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...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
For assessment and recovery purposes, the importer is the person who files the Bill of Entry, subscribes to the statutory declaration and seeks clearance; because those acts were done by the filing firms and not the appellants, the duty demand under Section 28 and denial of Notification No. 80/95-Cus failed against them. Misdeclaration under Section 111(m) required responsibility for or knowing participation in the false declaration, and no such evidence existed against the appellants, so confiscation and redemption fine were set aside. However, their furnishing of advance licences, end-use bonds and bank guarantees amounted to deliberate facilitation of improper clearance, sustaining penalty under Section 112(a).
For assessment and recovery purposes, the importer is the person who files the Bill of Entry, subscribes to the statutory declaration and seeks clearance; because those acts were done by the filing firms and not the appellants, the duty demand under Section 28 and denial of Notification No. 80/95-Cus failed against them. Misdeclaration under Section 111(m) required responsibility for or knowing participation in the false declaration, and no such evidence existed against the appellants, so confiscation and redemption fine were set aside. However, their furnishing of advance licences, end-use bonds and bank guarantees amounted to deliberate facilitation of improper clearance, sustaining penalty under Section 112(a).
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