Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Assessable value of a body-built motor vehicle manufactured on job work includes the chassis value on which duty was paid, including the additional margin applied under Rule 8, together with the job worker's material cost, expenses and profit. The manufacturer's anticipated resale profit and post-receipt expenses remain excluded. Although this valuation component was required to be included, extended limitation for duty recovery requires fraud, collusion, wilful misstatement, wilful suppression, or intent to evade duty. Departmental knowledge that the chassis had been valued at 110% of manufacturing cost precluded treating the job worker's omission as wilful suppression. A notice issued beyond the ordinary limitation period was therefore time-barred, resulting in the demand and penalty being set aside.
Assessable value of a body-built motor vehicle manufactured on job work includes the chassis value on which duty was paid, including the additional margin applied under Rule 8, together with the job worker's material cost, expenses and profit. The manufacturer's anticipated resale profit and post-receipt expenses remain excluded. Although this valuation component was required to be included, extended limitation for duty recovery requires fraud, collusion, wilful misstatement, wilful suppression, or intent to evade duty. Departmental knowledge that the chassis had been valued at 110% of manufacturing cost precluded treating the job worker's omission as wilful suppression. A notice issued beyond the ordinary limitation period was therefore time-barred, resulting in the demand and penalty being set aside.
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