Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
The case before CESTAT Chennai involved the recovery of short-paid excise duty, interest, and penalty, focusing on the admissibility of electronic evidence obtained during previous proceedings for a different company. The key issues included compliance with Section 36B of the Central Excise Act, 1944, quantification of demand based on cash to invoice value, and alleged suppression of facts. The tribunal found that the electronic evidence did not comply with Section 36B, rendering it inadmissible. Additionally, the method of quantifying duty based on dealer prices from different regions was deemed inappropriate. Ultimately, the demand for duty, interest, and penalties was not sustained, and the appeal was allowed.
The case before CESTAT Chennai involved the recovery of short-paid excise duty, interest, and penalty, focusing on the admissibility of electronic evidence obtained during previous proceedings for a different company. The key issues included compliance with Section 36B of the Central Excise Act, 1944, quantification of demand based on cash to invoice value, and alleged suppression of facts. The tribunal found that the electronic evidence did not comply with Section 36B, rendering it inadmissible. Additionally, the method of quantifying duty based on dealer prices from different regions was deemed inappropriate. Ultimately, the demand for duty, interest, and penalties was not sustained, and the appeal was allowed.
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