Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
Refund of CENVAT Credit of ADE(TTA) as per Additional Duties of Excise (Textiles and Textile Articles) Act, 1978 - The tribunal noted that the provisions of Rule 11(3) could not be applied retrospectively, especially when the exemption from ADE (TTA) was already in place before the rule's introduction. - Drawing from a plethora of judgments, the tribunal underscored that once a CENVAT credit is lawfully availed, it becomes an indefeasible right of the assessee, not subject to denial or lapsing due to subsequent legal or procedural changes. - Ultimately, the tribunal ruled in favor of the claimant, allowing the appeal and directing a refund of the accumulated CENVAT credit of ADE (TTA), citing eligibility u/s 142 of the CGST Act, 2017 read with Section 11B of the Central Excise Act, 1944.
Refund of CENVAT Credit of ADE(TTA) as per Additional Duties of Excise (Textiles and Textile Articles) Act, 1978 - The tribunal noted that the provisions of Rule 11(3) could not be applied retrospectively, especially when the exemption from ADE (TTA) was already in place before the rule's introduction. - Drawing from a plethora of judgments, the tribunal underscored that once a CENVAT credit is lawfully availed, it becomes an indefeasible right of the assessee, not subject to denial or lapsing due to subsequent legal or procedural changes. - Ultimately, the tribunal ruled in favor of the claimant, allowing the appeal and directing a refund of the accumulated CENVAT credit of ADE (TTA), citing eligibility u/s 142 of the CGST Act, 2017 read with Section 11B of the Central Excise Act, 1944.
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