Business expenditure and depreciation rules allow operational outgoings while limiting disallowances for personal elements and unsupported third-party...
Compromise-and-arrangement extensions may accommodate debt assignment where creditor commercial judgment supports value maximisation and avoids proced...
Delayed-payment surcharge is not taxable tolerance consideration where it penalises default, while meter testing follows electricity distribution trea...
Sufficient cause for delayed revenue income-tax appeals requires bona fides, due diligence and a credible explanation; otherwise limitation bars appea...
Inverted-duty-structure refunds remain available for unchanged-rate apparel supplies despite trader status and require tax-period-specific computation...
Extended limitation could not support recovery of Special Additional Duty on goods transferred from an FTWZ to a domestic tariff area unit because the exemption practice followed directions and decisions of SEZ and FTWZ authorities, including a chartered accountant's certificate. The Tribunal found no mala fides or suppression of facts intended to evade duty. As the entire demand lay outside the normal limitation period, the extended period was unavailable and the exemption's merits required no examination. The duty demand, confiscation and penalties were set aside, and Revenue's penalty-enhancement appeal was dismissed.
Extended limitation could not support recovery of Special Additional Duty on goods transferred from an FTWZ to a domestic tariff area unit because the exemption practice followed directions and decisions of SEZ and FTWZ authorities, including a chartered accountant's certificate. The Tribunal found no mala fides or suppression of facts intended to evade duty. As the entire demand lay outside the normal limitation period, the extended period was unavailable and the exemption's merits required no examination. The duty demand, confiscation and penalties were set aside, and Revenue's penalty-enhancement appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4886 
