Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
The court held that the extended period of limitation under the proviso to Section 73 of the Finance Act, 1994 could not be invoked against the appellant as there was no willful suppression of facts or deliberate attempt to evade payment of tax. The imposition of penalty u/s 78 of the Finance Act, 1994 and Rule 15(3) of the CENVAT Credit Rules, 2004 was not warranted in the absence of malafide intent on the part of the appellant. The case did not fall within the ambit of the proviso to Section 73 or sub-section 4 of Section 73 of the Finance Act, 1994.
The court held that the extended period of limitation under the proviso to Section 73 of the Finance Act, 1994 could not be invoked against the appellant as there was no willful suppression of facts or deliberate attempt to evade payment of tax. The imposition of penalty u/s 78 of the Finance Act, 1994 and Rule 15(3) of the CENVAT Credit Rules, 2004 was not warranted in the absence of malafide intent on the part of the appellant. The case did not fall within the ambit of the proviso to Section 73 or sub-section 4 of Section 73 of the Finance Act, 1994.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4784
Join Channel
TaxTMI 
