Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
Unsubstantiated exempt agricultural income claim sustains concealment penalty after disclosure only on departmental detection and no bona fide evidenc...
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For an SEZ unit claiming refund of service tax on input services used for authorised operations, the SEZ Act's exemption scheme prevails over service tax notifications issued under the Finance Act, 1994. The Tribunal applied the settled position that section 26 of the SEZ Act and the SEZ Rules govern the exemption, and that inconsistent notification-based restrictions cannot be imposed on SEZ refunds. Accordingly, the one-year limitation in the service tax notifications was held inapplicable, the rejection as time-barred was set aside, and the refund appeal succeeded with consequential relief.
For an SEZ unit claiming refund of service tax on input services used for authorised operations, the SEZ Act's exemption scheme prevails over service tax notifications issued under the Finance Act, 1994. The Tribunal applied the settled position that section 26 of the SEZ Act and the SEZ Rules govern the exemption, and that inconsistent notification-based restrictions cannot be imposed on SEZ refunds. Accordingly, the one-year limitation in the service tax notifications was held inapplicable, the rejection as time-barred was set aside, and the refund appeal succeeded with consequential relief.
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