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...
An EOU (100% Export Oriented Unit) is entitled to take suo-moto re-credit of the CENVAT credit earlier reversed, without following the refund procedure u/s 11B of the Central Excise Act, 1944. When the original credit was eligible, and the reversal was merely an accounting entry, suo-moto re-credit is permissible. The extended period of limitation cannot be invoked without evidence of willful misstatement or suppression. Consequently, the demand of Rs.40,64,459/- u/r 14 of CENVAT Credit Rules, 2004 read with Section 11A of the Central Excise Act, 1944, interest, and penalties were held untenable by the CESTAT. The appeal was allowed.
An EOU (100% Export Oriented Unit) is entitled to take suo-moto re-credit of the CENVAT credit earlier reversed, without following the refund procedure u/s 11B of the Central Excise Act, 1944. When the original credit was eligible, and the reversal was merely an accounting entry, suo-moto re-credit is permissible. The extended period of limitation cannot be invoked without evidence of willful misstatement or suppression. Consequently, the demand of Rs.40,64,459/- u/r 14 of CENVAT Credit Rules, 2004 read with Section 11A of the Central Excise Act, 1944, interest, and penalties were held untenable by the CESTAT. The appeal was allowed.
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TaxTMI 
TaxTMI 
