Capital-gains exemption for charitable trusts extends to qualifying fixed deposits, while unrecoverable TDS write-offs may constitute income applicati...
India-UK treaty characterisation of telecom-service receipts as business profits withstands unilateral domestic-law amendments for Indian tax purposes...
Transfer-pricing reimbursement adjustments require uncontrolled comparables and cannot become expense-genuineness reviews, resulting in deletion of th...
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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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