Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Notification No. 30/2004-CE exemption was held to remain available where the assessee had not originally taken CENVAT credit on exempt clearances, maintained separate accounts, and later reversed credit only after the Department required reversal under Rule 6(3). The prescribed reversal was treated as deemed non-availment of credit, so the later availment and reversal did not breach the exemption condition or justify duty demand on the exempted goods. The extended period of limitation was also held unavailable because the later demand rested on a change in the Department's earlier stand. The duty, interest and penalty demands were set aside.
Notification No. 30/2004-CE exemption was held to remain available where the assessee had not originally taken CENVAT credit on exempt clearances, maintained separate accounts, and later reversed credit only after the Department required reversal under Rule 6(3). The prescribed reversal was treated as deemed non-availment of credit, so the later availment and reversal did not breach the exemption condition or justify duty demand on the exempted goods. The extended period of limitation was also held unavailable because the later demand rested on a change in the Department's earlier stand. The duty, interest and penalty demands were set aside.
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