Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Demand of duty (CVD & SAD) foregone at the time of import - The quantity of imported Sulphur, which was not used in manufacture of fertilizer - the said clearances of Sulphuric Acid were made under the cover of excise invoices, on payment of appropriate central excise duty and duly mentioned in the ER-1 returns filed and other Central Excise records which have been audited by the department at periodical intervals. In such a situation, no charge of suppression or willful mis-statement and fraud etc., can be alleged against the Appellant - the extended period of limitation cannot be invoked in this case. Hence, the duty demand has to be limited only to the normal period of limitation. - AT
Demand of duty (CVD & SAD) foregone at the time of import - The quantity of imported Sulphur, which was not used in manufacture of fertilizer - the said clearances of Sulphuric Acid were made under the cover of excise invoices, on payment of appropriate central excise duty and duly mentioned in the ER-1 returns filed and other Central Excise records which have been audited by the department at periodical intervals. In such a situation, no charge of suppression or willful mis-statement and fraud etc., can be alleged against the Appellant - the extended period of limitation cannot be invoked in this case. Hence, the duty demand has to be limited only to the normal period of limitation. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
