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...
Section 129 is described as a complete code for detention and release of goods in transit, requiring release on payment of the prescribed penalty where the owner or another person comes forward, without treating detention as a continuing lien pending final adjudication of the demand. On the facts discussed, objections regarding ownership, quantity, quality and supporting documents were not backed by contrary material sufficient to displace the petitioner's claim of ownership at that stage. The consignment was therefore directed to be released on compliance with Section 129(1)(a), while the revenue was left free to recover any finally sustained demand in accordance with law.
Section 129 is described as a complete code for detention and release of goods in transit, requiring release on payment of the prescribed penalty where the owner or another person comes forward, without treating detention as a continuing lien pending final adjudication of the demand. On the facts discussed, objections regarding ownership, quantity, quality and supporting documents were not backed by contrary material sufficient to displace the petitioner's claim of ownership at that stage. The consignment was therefore directed to be released on compliance with Section 129(1)(a), while the revenue was left free to recover any finally sustained demand in accordance with law.
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