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...
The challenge to cancellation of scrips and imposition of penalty was correctly relegated to the statutory appellate remedy, leaving those issues open before the competent authority. However, the communication marking the appellant to the Denied Entity List was quashed because it effectively disabled import-export operations and was issued without the written notice, disclosure of grounds, opportunity to represent, and hearing required for suspension or cancellation of an Importer-exporter Code. The Court treated this as a breach of natural justice and non-compliance with the statutory procedure, while granting liberty to proceed afresh with a compliant notice.
The challenge to cancellation of scrips and imposition of penalty was correctly relegated to the statutory appellate remedy, leaving those issues open before the competent authority. However, the communication marking the appellant to the Denied Entity List was quashed because it effectively disabled import-export operations and was issued without the written notice, disclosure of grounds, opportunity to represent, and hearing required for suspension or cancellation of an Importer-exporter Code. The Court treated this as a breach of natural justice and non-compliance with the statutory procedure, while granting liberty to proceed afresh with a compliant notice.
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