Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Extended period of limitation - In fact in the present case the assessee has been proved to be incorrect in its belief. However to invoke larger period of limitation in terms of proviso to Section 11A of the Central Excise Act what is required is that the duty of excise is not levied or paid or has been short levied or short paid or erroneously refunded the reason of fraud, collusion or in willful misstatement or suppression of facts or contravention of any of the provisions of the act or the rules which intent to evade payment of duty. In absence of elements of fraud, collusion, willful misstatement, suppression of facts or intention to evade duty, larger period of limitation cannot be invoked. - HC
Extended period of limitation - In fact in the present case the assessee has been proved to be incorrect in its belief. However to invoke larger period of limitation in terms of proviso to Section 11A of the Central Excise Act what is required is that the duty of excise is not levied or paid or has been short levied or short paid or erroneously refunded the reason of fraud, collusion or in willful misstatement or suppression of facts or contravention of any of the provisions of the act or the rules which intent to evade payment of duty. In absence of elements of fraud, collusion, willful misstatement, suppression of facts or intention to evade duty, larger period of limitation cannot be invoked. - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
