Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
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Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
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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