Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
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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