CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
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Quantum of penalty - Absolute confiscation - Smuggling of Gold Bars - prohibited goods or not - The Tribunal, accepting the arguments of revenue, held that, since no proper documents were available for these gold bars, they are to be categorized as prohibited goods. Hence, the submission of the appellant that penalty should be either equivalent to 10% of the quantified duty amount or Rs. 5,000/- whichever is higher, is rejected.
Quantum of penalty - Absolute confiscation - Smuggling of Gold Bars - prohibited goods or not - The Tribunal, accepting the arguments of revenue, held that, since no proper documents were available for these gold bars, they are to be categorized as prohibited goods. Hence, the submission of the appellant that penalty should be either equivalent to 10% of the quantified duty amount or Rs. 5,000/- whichever is higher, is rejected.
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