Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
Internal TNMM supports deletion of freight-forwarding adjustments where comparable non-AE transactions are separately identifiable and materially simi...
Captive exemption for Fatty Acid Pitch (FAP), an intermediate product, was denied despite being otherwise excisable, citing Rule 6(3A) of Cenvat Credit Rules. The Adjudicating Authority concluded FAP was used as fuel in boilers producing steam for manufacturing exempted goods based on Audit team's observations and Appellants' letters, without verifying claims. Extended period invoked despite no evidence of deliberate duty evasion. Appellants provided relevant details, but no further inquiry conducted. Lack of cogent verifiable evidence that FAP was used for exempted products invalidates denial of exemption benefit. Invoking extended period without substantiating assertions is legally untenable. Impugned order unsustainable on merits and limitation, appeal allowed.
Captive exemption for Fatty Acid Pitch (FAP), an intermediate product, was denied despite being otherwise excisable, citing Rule 6(3A) of Cenvat Credit Rules. The Adjudicating Authority concluded FAP was used as fuel in boilers producing steam for manufacturing exempted goods based on Audit team's observations and Appellants' letters, without verifying claims. Extended period invoked despite no evidence of deliberate duty evasion. Appellants provided relevant details, but no further inquiry conducted. Lack of cogent verifiable evidence that FAP was used for exempted products invalidates denial of exemption benefit. Invoking extended period without substantiating assertions is legally untenable. Impugned order unsustainable on merits and limitation, appeal allowed.
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