Transfer pricing comparables and operating income principles applied to software development services, with exclusions, inclusions, and tax credit ver...
Transfer pricing on performance guarantees and overdue receivables deleted where warranty obligations were embedded and working capital adjustment alr...
The appellant's contention regarding shortage of work-in-progress (WIP) due to dust generated during manufacturing was rejected. The logical conclusion was that final goods were manufactured but lesser quantity was recorded in the final products register, and duty was paid on the recorded quantity, while the remaining quantity was removed clandestinely. The shortage was substantial, and the impugned order correctly held the appellant liable for excise duty u/s 11A, invoking extended period of limitation along with interest and penalty u/s 11AC of the Central Excise Act, 1944. However, the imposition of personal penalty on Shri Tekriwal u/r 26 was set aside as confiscation of goods, a prerequisite for invoking Rule 26, was not undertaken by the Commissioner. The appeal was disposed of accordingly.
The appellant's contention regarding shortage of work-in-progress (WIP) due to dust generated during manufacturing was rejected. The logical conclusion was that final goods were manufactured but lesser quantity was recorded in the final products register, and duty was paid on the recorded quantity, while the remaining quantity was removed clandestinely. The shortage was substantial, and the impugned order correctly held the appellant liable for excise duty u/s 11A, invoking extended period of limitation along with interest and penalty u/s 11AC of the Central Excise Act, 1944. However, the imposition of personal penalty on Shri Tekriwal u/r 26 was set aside as confiscation of goods, a prerequisite for invoking Rule 26, was not undertaken by the Commissioner. The appeal was disposed of accordingly.
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