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...
Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed...
Acquiescence, homebuyer protection and clean-slate resolution principles prevent landowners from disrupting an integrated project through late termina...
Under FEMA, pre-deposit of penalty is the rule and waiver is an exception available only on proof of undue hardship, with protective conditions for recovery. The Tribunal had already exercised that discretion by granting substantial relief, and the High Court found no clear prima facie case for total waiver, as the petitioners' own case showed awareness that the remittances attracted FEMA. It also held that no perversity, unreasonableness or non-application of mind was shown in the hardship assessment, and that supervisory jurisdiction under Article 227 cannot be used to reappreciate the Tribunal's discretion. The Tribunal's order was therefore upheld in principle, with only the immediate cash pre-deposit reduced to 5% and the balance to be secured by bank guarantee or surety.
Under FEMA, pre-deposit of penalty is the rule and waiver is an exception available only on proof of undue hardship, with protective conditions for recovery. The Tribunal had already exercised that discretion by granting substantial relief, and the High Court found no clear prima facie case for total waiver, as the petitioners' own case showed awareness that the remittances attracted FEMA. It also held that no perversity, unreasonableness or non-application of mind was shown in the hardship assessment, and that supervisory jurisdiction under Article 227 cannot be used to reappreciate the Tribunal's discretion. The Tribunal's order was therefore upheld in principle, with only the immediate cash pre-deposit reduced to 5% and the balance to be secured by bank guarantee or surety.
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