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Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
Mechanical approval for search assessments under section 153D was held invalid where the sanction was consolidated, year-neutral and showed no application of mind, so the assessments were quashed as void ab initio. Completed years could not be reopened under section 153A in the absence of incriminating material. Where the Revenue relied on documents from a third party's search, the mandatory section 153C route had to be followed, and assessments framed without it were without jurisdiction. The Tribunal also deleted additions based on estimated project income, loose sheets without corroboration, assumed project receipts, and cash deposits supported by agricultural records and sale documents.
Mechanical approval for search assessments under section 153D was held invalid where the sanction was consolidated, year-neutral and showed no application of mind, so the assessments were quashed as void ab initio. Completed years could not be reopened under section 153A in the absence of incriminating material. Where the Revenue relied on documents from a third party's search, the mandatory section 153C route had to be followed, and assessments framed without it were without jurisdiction. The Tribunal also deleted additions based on estimated project income, loose sheets without corroboration, assumed project receipts, and cash deposits supported by agricultural records and sale documents.
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