Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Data transmission equipment classification under CTSH 8517 62 remains distinct from residual classification, with exemption evidence requiring scrutin...
The State policy for Special Economic Zones in Maharashtra made a clear promise of exemption from all State and local taxes, including octroi, and contemplated reimbursement where direct exemption was not feasible. The Court applied promissory estoppel and held that, absent any overriding public interest, the promise had to be honoured because it aligned with the SEZ Act and Rules and the policy objective of encouraging SEZ development. It accepted that the petitioner was entitled to refund of octroi paid with interest, subject to verification, and fastened liability on the State Government. Refund could not be ordered against the Municipal Corporation without the necessary statutory amendment, and relief for amendment of the octroi rules was declined because those rules had ceased to operate.
The State policy for Special Economic Zones in Maharashtra made a clear promise of exemption from all State and local taxes, including octroi, and contemplated reimbursement where direct exemption was not feasible. The Court applied promissory estoppel and held that, absent any overriding public interest, the promise had to be honoured because it aligned with the SEZ Act and Rules and the policy objective of encouraging SEZ development. It accepted that the petitioner was entitled to refund of octroi paid with interest, subject to verification, and fastened liability on the State Government. Refund could not be ordered against the Municipal Corporation without the necessary statutory amendment, and relief for amendment of the octroi rules was declined because those rules had ceased to operate.
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