Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
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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.
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