Centralised assessment transfer becomes unwarranted once the searched person's assessment is complete, requiring restoration to the appropriate charge...
Co-operative deduction eligibility excludes refund and commercial-bank interest, while qualifying co-operative investments require entity-wise verific...
Enhanced tax rate on surrendered unexplained income applies prospectively, while cash-deposit telescoping requires verification of available surrender...
The High Court allowed the petition and held that the petitioner is entitled to exemption from payment of excise duty up to 1% on transit loss for petroleum products transferred from the refinery/factory to the place of storage for the purpose of export. The impugned orders passed by the revisional authority were set aside, and the order passed by the Commissioner (Appeals) was restored. The demand raised regarding duty, interest, and penalty was quashed.
The High Court allowed the petition and held that the petitioner is entitled to exemption from payment of excise duty up to 1% on transit loss for petroleum products transferred from the refinery/factory to the place of storage for the purpose of export. The impugned orders passed by the revisional authority were set aside, and the order passed by the Commissioner (Appeals) was restored. The demand raised regarding duty, interest, and penalty was quashed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
