Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Appellant's claim for exemption under 2009 Notification for 2008-2011 disallowed retrospectively as 2011 Notification amending exemption scope intended prospective application without express retrospectivity. Appellant not obliged to follow Rule 6(7B) option available to assessee, not Revenue. Profit on settlement part of taxable value upheld under amended 2011 Notification widening exemption scope. Profit on foreign exchange sale to EEFC account holders non-taxable being separate transactions without consideration flow. Appeal partly allowed by CESTAT.
Appellant's claim for exemption under 2009 Notification for 2008-2011 disallowed retrospectively as 2011 Notification amending exemption scope intended prospective application without express retrospectivity. Appellant not obliged to follow Rule 6(7B) option available to assessee, not Revenue. Profit on settlement part of taxable value upheld under amended 2011 Notification widening exemption scope. Profit on foreign exchange sale to EEFC account holders non-taxable being separate transactions without consideration flow. Appeal partly allowed by CESTAT.
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