Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Misclassification and Wrongful Claim of MEIS Benefits - Exports of quilts containing cotton/polyester - Levy of penalties - The CESTAT found the appellant guilty of willful misdeclaration and misclassification to avail higher MEIS benefits, violating the provisions of the Customs Act, 1962, and Foreign Trade (Development & Regulation) Act, 1992. - The Tribunal upheld the principle of self-assessment and confirmed that M/s FA's actions constituted a deliberate contravention of customs laws, making them liable for penalties. - While penalties were justified for the firm due to the deliberate misclassification, the penalties against the individual managers were revoked, acknowledging their passive role in following the firm's instructions without evidence of personal gain or active connivance.
Misclassification and Wrongful Claim of MEIS Benefits - Exports of quilts containing cotton/polyester - Levy of penalties - The CESTAT found the appellant guilty of willful misdeclaration and misclassification to avail higher MEIS benefits, violating the provisions of the Customs Act, 1962, and Foreign Trade (Development & Regulation) Act, 1992. - The Tribunal upheld the principle of self-assessment and confirmed that M/s FA's actions constituted a deliberate contravention of customs laws, making them liable for penalties. - While penalties were justified for the firm due to the deliberate misclassification, the penalties against the individual managers were revoked, acknowledging their passive role in following the firm's instructions without evidence of personal gain or active connivance.
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