Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
Levy of interest and penalty - In the instant case, in view of the discussions, with the consent and concurrence of both the parties, instead of remanding it back, Rule 41 of the CESTAT (Procedure) Rule, 1982 should be invoked in, putting an end to the litigation that commenced way back in the early 1990’s only for the purpose of re-computation for the normal period when from the evidence on record it is quite evident that appellant had already paid Rs.3,50,000/- during investigation which is much higher than the entire demand raised for the normal period that would also meet the interest component. - AT
Levy of interest and penalty - In the instant case, in view of the discussions, with the consent and concurrence of both the parties, instead of remanding it back, Rule 41 of the CESTAT (Procedure) Rule, 1982 should be invoked in, putting an end to the litigation that commenced way back in the early 1990’s only for the purpose of re-computation for the normal period when from the evidence on record it is quite evident that appellant had already paid Rs.3,50,000/- during investigation which is much higher than the entire demand raised for the normal period that would also meet the interest component. - AT
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