Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
A vehicle manufactured in April 2008, registered in the United Kingdom before import, was treated as a new car because the foreign registration was only a technical requirement for movement from the showroom to the port. Applying CBEC Circular No. 1/2005-Customs and the ruling in Rahul Bhandare, CESTAT held that the concessional benefit under Notification No. 21/2002-Cus. was rightly extended. Once the import was accepted as that of a new car, confiscation-related proceedings against the vehicle could not survive, and the redemption fine under section 125 was deleted.
A vehicle manufactured in April 2008, registered in the United Kingdom before import, was treated as a new car because the foreign registration was only a technical requirement for movement from the showroom to the port. Applying CBEC Circular No. 1/2005-Customs and the ruling in Rahul Bhandare, CESTAT held that the concessional benefit under Notification No. 21/2002-Cus. was rightly extended. Once the import was accepted as that of a new car, confiscation-related proceedings against the vehicle could not survive, and the redemption fine under section 125 was deleted.
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