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...
Prosecution for failure to file an income tax return under the penal provision was quashed because the officer who initiated the complaint lacked jurisdiction after no transfer of the case was shown, and the sanction was treated as having been granted without proper consideration of jurisdiction. The Court also held that prosecution could not be sustained without regular assessment determining tax liability after giving credit for tax deducted at source and other payments. Relying on precedent, it further found that absence of penalty proceedings for non-filing made continuation of the criminal case an abuse of process.
Prosecution for failure to file an income tax return under the penal provision was quashed because the officer who initiated the complaint lacked jurisdiction after no transfer of the case was shown, and the sanction was treated as having been granted without proper consideration of jurisdiction. The Court also held that prosecution could not be sustained without regular assessment determining tax liability after giving credit for tax deducted at source and other payments. Relying on precedent, it further found that absence of penalty proceedings for non-filing made continuation of the criminal case an abuse of process.
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