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...
The SC held that the price was not the sole consideration for sale under the MOU between OMCs for ensuring uninterrupted supply of petroleum products across India. The revenue failed to record detailed reasons for invoking extended period of limitation under proviso to Section 11A(1) of CEA 1944. No allegation of fraud, collusion or wilful mis-statement was made to levy penalty u/s 11AC. The appeal by the assessee was allowed.
The SC held that the price was not the sole consideration for sale under the MOU between OMCs for ensuring uninterrupted supply of petroleum products across India. The revenue failed to record detailed reasons for invoking extended period of limitation under proviso to Section 11A(1) of CEA 1944. No allegation of fraud, collusion or wilful mis-statement was made to levy penalty u/s 11AC. The appeal by the assessee was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
