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...
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The case involves a dispute regarding a demand for duty on the consumption of furnace oil by a 100% Export Oriented Unit (EOU) for generating electricity. The issue was whether the EOU complied with the conditions of Notification No. 22/2003-CE. The Appellate Tribunal held that the EOU had permission to generate power and transfer excess power to the Domestic Tariff Area (DTA) based on Input-Output Norms. As there was no diversion of furnace oil and the demand was solely based on less electricity generation from the oil consumed, the demand was not upheld. The Tribunal set aside the impugned order, allowing the appeal.
The case involves a dispute regarding a demand for duty on the consumption of furnace oil by a 100% Export Oriented Unit (EOU) for generating electricity. The issue was whether the EOU complied with the conditions of Notification No. 22/2003-CE. The Appellate Tribunal held that the EOU had permission to generate power and transfer excess power to the Domestic Tariff Area (DTA) based on Input-Output Norms. As there was no diversion of furnace oil and the demand was solely based on less electricity generation from the oil consumed, the demand was not upheld. The Tribunal set aside the impugned order, allowing the appeal.
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