Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Wrongful availment of CENVAT credit - Removal of machinery after two days of taking credit - The fact of removal of one Autoconer to Guna plant, which took place within two days of taking credit, was not brought to the notice of the Central Excise Authorities, and it was detected only during the course of audit. As such there is nothing wrong if penalty is levied on the appellant either. - HC
Wrongful availment of CENVAT credit - Removal of machinery after two days of taking credit - The fact of removal of one Autoconer to Guna plant, which took place within two days of taking credit, was not brought to the notice of the Central Excise Authorities, and it was detected only during the course of audit. As such there is nothing wrong if penalty is levied on the appellant either. - HC
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