Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Refund claim for amount deposited in PLA, whether duty or not, subject to time limitation u/s 11B of Central Excise Act, 1944. Held that Apex court in Modipon Ltd. case did not consider PLA amount as central excise duty, but a deposit utilizable for duty payment. Provisions of Section 11B inapplicable for PLA deposit refund. Commissioner's misinterpretation of Modipon Ltd. case rejected. Impugned order set aside, refund allowed, appeal allowed. CESTAT refers to Appellate Tribunal.
Refund claim for amount deposited in PLA, whether duty or not, subject to time limitation u/s 11B of Central Excise Act, 1944. Held that Apex court in Modipon Ltd. case did not consider PLA amount as central excise duty, but a deposit utilizable for duty payment. Provisions of Section 11B inapplicable for PLA deposit refund. Commissioner's misinterpretation of Modipon Ltd. case rejected. Impugned order set aside, refund allowed, appeal allowed. CESTAT refers to Appellate Tribunal.
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TaxTMI 
TaxTMI 
of 4915 
