Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
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Interpretation of Section 11D of the Central Excise Act, 1944, regarding the recovery of amounts collected as excise duty but not deposited with the government. The key points are: If an assessee collects excise duty or any amount representing excise duty, they cannot retain it and must deposit it with the government. Section 11D can be invoked to recover such amounts. In this case, the appellant made a pre-deposit of Rs. 1 crore and later issued supplementary invoices passing on the burden to another party. The demand raised in the show cause notice invoked Section 11D, not Rule 14 of the Cenvat Credit Rules, 2004. Section 11D is applicable only when excise duty or an amount representing excise duty is collected but not deposited with the government. The impugned order was set aside, and the appeal was allowed by the CESTAT (Appellate Tribunal).
Interpretation of Section 11D of the Central Excise Act, 1944, regarding the recovery of amounts collected as excise duty but not deposited with the government. The key points are: If an assessee collects excise duty or any amount representing excise duty, they cannot retain it and must deposit it with the government. Section 11D can be invoked to recover such amounts. In this case, the appellant made a pre-deposit of Rs. 1 crore and later issued supplementary invoices passing on the burden to another party. The demand raised in the show cause notice invoked Section 11D, not Rule 14 of the Cenvat Credit Rules, 2004. Section 11D is applicable only when excise duty or an amount representing excise duty is collected but not deposited with the government. The impugned order was set aside, and the appeal was allowed by the CESTAT (Appellate Tribunal).
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