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...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
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Invoking the extended period of limitation u/s 11A(1) of the Central Excise Act for recovery of unpaid duty. The key points are: The department alleged suppression of facts by the appellant with intent to evade duty payment, invoking the 5-year limitation period instead of the normal 1-year period. However, the Commissioner did not provide adequate reasoning or consider the appellant's reply regarding the complex nature of classification. The Tribunal examined the Supreme Court's interpretation in Pushpam Pharmaceuticals case, which held that to invoke extended limitation, suppression of facts must be deliberate to escape duty payment. Mere difference of opinion between department and assessee on duty liability cannot be construed as willful suppression. The Tribunal found the Commissioner's order invoking extended limitation period without proper examination as unsustainable and set it aside, allowing the appeal.
Invoking the extended period of limitation u/s 11A(1) of the Central Excise Act for recovery of unpaid duty. The key points are: The department alleged suppression of facts by the appellant with intent to evade duty payment, invoking the 5-year limitation period instead of the normal 1-year period. However, the Commissioner did not provide adequate reasoning or consider the appellant's reply regarding the complex nature of classification. The Tribunal examined the Supreme Court's interpretation in Pushpam Pharmaceuticals case, which held that to invoke extended limitation, suppression of facts must be deliberate to escape duty payment. Mere difference of opinion between department and assessee on duty liability cannot be construed as willful suppression. The Tribunal found the Commissioner's order invoking extended limitation period without proper examination as unsustainable and set it aside, allowing the appeal.
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