Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
Levy of penalty - taking CENVAT Credit irregularly - it is the contention of the Assessee that there is some element of discretion available in the adjudicating officer to levy penalty under Rule 15(1) of the CENVAT Credit Rules. The Court notes at this stage that there is a distinction between the Rule 15(1) and Rule 15(2) of the CENVAT Credit Rules. As far as Rule 15(2) is concerned, the penalty is attracted in the event of there being misinformation, suppression of facts or fraud by the Assessee. Rule 15 (2) is admittedly not attracted in the present case - HC
Levy of penalty - taking CENVAT Credit irregularly - it is the contention of the Assessee that there is some element of discretion available in the adjudicating officer to levy penalty under Rule 15(1) of the CENVAT Credit Rules. The Court notes at this stage that there is a distinction between the Rule 15(1) and Rule 15(2) of the CENVAT Credit Rules. As far as Rule 15(2) is concerned, the penalty is attracted in the event of there being misinformation, suppression of facts or fraud by the Assessee. Rule 15 (2) is admittedly not attracted in the present case - HC
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TaxTMI 
TaxTMI 
of 4881 
