Market value for captive electricity consumption follows industrial consumer tariffs, supporting profit computation for the power generation deduction...
Provisional release of seized imports requires enhanced duty payment, bank guarantee and disclosures while customs adjudication proceeds independently...
Input tax credit - The assessee claimed input tax credit by depicting the true and correct facts. Though we have decided the case against the assessee, but it cannot be said that the dealer had claimed this input tax credit with a view to evade or avoid payment of tax. It is a plain and simple case of different interpretations of the provisions of law. - Minimum penalty of 10% imposed - HC
Input tax credit - The assessee claimed input tax credit by depicting the true and correct facts. Though we have decided the case against the assessee, but it cannot be said that the dealer had claimed this input tax credit with a view to evade or avoid payment of tax. It is a plain and simple case of different interpretations of the provisions of law. - Minimum penalty of 10% imposed - HC
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