Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
The CESTAT adjudicated on various demands and penalties imposed on the appellants. The key findings are: The demand on account of undervaluation of goods cleared to two non-existent dealers was upheld along with interest and penalty equal to duty. The benefit of exemption notification was denied proportionately for traded goods, and the matter was remanded for re-quantification. The substantial demand for alleged clandestine removal of Fatty Acid in the guise of Refined Palm Oil was set aside due to lack of evidence. The penalties imposed on the directors were reduced considering their roles and the offenses established.
The CESTAT adjudicated on various demands and penalties imposed on the appellants. The key findings are: The demand on account of undervaluation of goods cleared to two non-existent dealers was upheld along with interest and penalty equal to duty. The benefit of exemption notification was denied proportionately for traded goods, and the matter was remanded for re-quantification. The substantial demand for alleged clandestine removal of Fatty Acid in the guise of Refined Palm Oil was set aside due to lack of evidence. The penalties imposed on the directors were reduced considering their roles and the offenses established.
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