Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
The appellant supplied gear boxes to Mega Power Projects and availed exemption benefit under Notification No. 06/2006-C.E. dated 01.03.2006. The adjudicating authority denied the exemption, citing non-fulfillment of conditions and goods not covered under Heading 98.01 of Notification No. 21/2002. The Tribunal held that the appellant fulfilled the conditions by submitting requisite certificates from the appropriate authority certifying the projects as Mega Power Projects. The goods cleared under Chapter Heading 8483 were covered within Notification No. 21/2002, exempting all goods supplied against international competitive bidding. Hence, the appellant was eligible for exemption under Notification No. 06/2006-C.E. The demand of central excise duty, interest, and penalty was set aside, and the appeal was allowed.
The appellant supplied gear boxes to Mega Power Projects and availed exemption benefit under Notification No. 06/2006-C.E. dated 01.03.2006. The adjudicating authority denied the exemption, citing non-fulfillment of conditions and goods not covered under Heading 98.01 of Notification No. 21/2002. The Tribunal held that the appellant fulfilled the conditions by submitting requisite certificates from the appropriate authority certifying the projects as Mega Power Projects. The goods cleared under Chapter Heading 8483 were covered within Notification No. 21/2002, exempting all goods supplied against international competitive bidding. Hence, the appellant was eligible for exemption under Notification No. 06/2006-C.E. The demand of central excise duty, interest, and penalty was set aside, and the appeal was allowed.
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