Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
Levy of Penalty - disallowance of CENVAT Credit - Only for the reason that VAL instead of contesting the show cause notice went for settlement before the Settlement Commission, no adverse inference can be drawn against the appellant BALCO - The benefit of N/N. 214/86-CE was available to BALCO i.e. they could have received calcined alumina from VAL without payment of duty, as prescribed. Further, the extended period of limitation is not warranted in the facts and circumstances, there being no suppression of facts or attempt to evade duty, etc. - AT
Levy of Penalty - disallowance of CENVAT Credit - Only for the reason that VAL instead of contesting the show cause notice went for settlement before the Settlement Commission, no adverse inference can be drawn against the appellant BALCO - The benefit of N/N. 214/86-CE was available to BALCO i.e. they could have received calcined alumina from VAL without payment of duty, as prescribed. Further, the extended period of limitation is not warranted in the facts and circumstances, there being no suppression of facts or attempt to evade duty, etc. - AT
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