Credit-note turnover adjustments preserve inverted-duty refunds, while ministerial re-computation does not constitute an impermissible appellate reman...
Revisional jurisdiction over export quota premium deductions requires both error and Revenue prejudice; a permissible assessment view cannot be displa...
Section 154 rectification applications must be filed within four years from the end of the financial year in which the order sought to be amended was passed. The notes state that section 154(7) is clear and unambiguous and contains no provision allowing condonation of delay for reasonable cause. On a literal construction, expiry of this period removes the authority's jurisdiction to entertain a rectification application, including applications seeking correction of income returned and processed under section 143(1). Accordingly, the delayed applications were treated as time-barred, their rejection was upheld, and the related appeals were dismissed.
Section 154 rectification applications must be filed within four years from the end of the financial year in which the order sought to be amended was passed. The notes state that section 154(7) is clear and unambiguous and contains no provision allowing condonation of delay for reasonable cause. On a literal construction, expiry of this period removes the authority's jurisdiction to entertain a rectification application, including applications seeking correction of income returned and processed under section 143(1). Accordingly, the delayed applications were treated as time-barred, their rejection was upheld, and the related appeals were dismissed.
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