Foundational assessment satisfaction is essential before initiating penalty for cash receipt of immovable-property sale consideration under section 27...
Tax collection at source on purchases removes duplicate withholding obligation, while trade-creditor evidence requires verification before unexplained...
Transfer-pricing comparability requires material turnover effects; adjustments must cover only associated-enterprise transactions and exclude abnormal...
Exemption for vanaspati in unit containers is excluded only when the specified goods themselves bear a brand name and are put up for retail sale. A brand name appearing solely on sale invoices is not use of that name upon the goods or their containers; therefore, the exclusion under Notification No. 6/2003-CE does not apply where the revenue cannot prove branding of the cleared goods. Earlier manufacture of branded goods creates suspicion but does not establish branding of later clearances. Duty, interest and penalty cannot be sustained on invoice references alone. Penalty also requires material showing fraud, collusion, wilful misstatement, or suppression of facts with intent to evade duty.
Exemption for vanaspati in unit containers is excluded only when the specified goods themselves bear a brand name and are put up for retail sale. A brand name appearing solely on sale invoices is not use of that name upon the goods or their containers; therefore, the exclusion under Notification No. 6/2003-CE does not apply where the revenue cannot prove branding of the cleared goods. Earlier manufacture of branded goods creates suspicion but does not establish branding of later clearances. Duty, interest and penalty cannot be sustained on invoice references alone. Penalty also requires material showing fraud, collusion, wilful misstatement, or suppression of facts with intent to evade duty.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
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