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...
Import of ferrous waste, scrap and re-melting scrap from Dubai/UAE was held to be freely permitted under Indian law, so confiscation could not rest on any alleged Foreign Trade Policy violation. The importer had produced the invoice, packing list, certificate of origin, bill of lading, pre-shipment inspection certificate and container tracking, and no misdeclaration was established on record. The Tribunal further held that a DGFT office memorandum could not retrospectively invalidate a valid PSIC issued by the PSIA. Since the inspection occurred after Dubai Customs Notice 08/2022 had ceased and before Notice 05/2023 was issued, there was no operative export ban at that time. Redemption fine and penalty were therefore set aside.
Import of ferrous waste, scrap and re-melting scrap from Dubai/UAE was held to be freely permitted under Indian law, so confiscation could not rest on any alleged Foreign Trade Policy violation. The importer had produced the invoice, packing list, certificate of origin, bill of lading, pre-shipment inspection certificate and container tracking, and no misdeclaration was established on record. The Tribunal further held that a DGFT office memorandum could not retrospectively invalidate a valid PSIC issued by the PSIA. Since the inspection occurred after Dubai Customs Notice 08/2022 had ceased and before Notice 05/2023 was issued, there was no operative export ban at that time. Redemption fine and penalty were therefore set aside.
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