Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
CESTAT ruled on classification dispute regarding Epoxidised Soya Bean Oil (ESBO). The tribunal upheld classification under CTH 1518 as chemically modified vegetable oil rather than CTH 3812, based on HSN notes and Rule 3(a) of RIT. While the show cause notice was deemed timely (calculated from January 4, 2023, when complete documents were provided), penalties and confiscation were set aside as no misdeclaration was established. The appellant's alternate classification view was considered reasonable given product documentation submitted. Interest on duty remained payable per SKF India precedent. The tribunal emphasized that department's reclassification through DRI investigation was procedurally proper, following Warner Hindustan principles requiring fresh show cause notice. Appeal partially allowed, maintaining duty liability with interest but removing penalties.
CESTAT ruled on classification dispute regarding Epoxidised Soya Bean Oil (ESBO). The tribunal upheld classification under CTH 1518 as chemically modified vegetable oil rather than CTH 3812, based on HSN notes and Rule 3(a) of RIT. While the show cause notice was deemed timely (calculated from January 4, 2023, when complete documents were provided), penalties and confiscation were set aside as no misdeclaration was established. The appellant's alternate classification view was considered reasonable given product documentation submitted. Interest on duty remained payable per SKF India precedent. The tribunal emphasized that department's reclassification through DRI investigation was procedurally proper, following Warner Hindustan principles requiring fresh show cause notice. Appeal partially allowed, maintaining duty liability with interest but removing penalties.
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