Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
CESTAT ALLAHABAD held that refund of Special Additional Duty (SAD) on goods sold with VAT charged is permissible u/s Notification No.102 of 2007 Cus. The tribunal found that refund claims met notification and circular requirements, including certification by a chartered accountant to avoid unjust enrichment. Adjudicating authority followed board guidelines in sanctioning refunds. Previous tribunal decisions favored respondents, dismissing revenue appeals. Distinction made from a Supreme Court case not applicable to SAD refund cases.
CESTAT ALLAHABAD held that refund of Special Additional Duty (SAD) on goods sold with VAT charged is permissible u/s Notification No.102 of 2007 Cus. The tribunal found that refund claims met notification and circular requirements, including certification by a chartered accountant to avoid unjust enrichment. Adjudicating authority followed board guidelines in sanctioning refunds. Previous tribunal decisions favored respondents, dismissing revenue appeals. Distinction made from a Supreme Court case not applicable to SAD refund cases.
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