Unverified Insight Portal Information Cannot Justify Reassessment Without a Verified Taxpayer-Specific Income-Escape Nexus or Demonstrated Application...
Assessing Officer jurisdiction after statutory transfer invalidates reassessment notices issued by transferor officers and nullifies resulting proceed...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
Discounted cash flow valuation protects share premium where projections are reasonable, while audited book expenses defeat unexplained-expenditure add...
Section 54 construction relief survives pre-transfer commencement when completion occurs within the statutory period, excluding ineligible spouse-owne...
CESTAT partially allowed appeal concerning CENVAT credit disputes. Matter regarding CENVAT credit on Advice of Transfer Debit (ATD) remanded to original authority for reconsideration, following precedent that procedural lapses alone cannot justify credit denial when duty payment and equipment usage are verified. Interest and penalty determination linked to ATD credit admissibility also remanded. However, tribunal upheld denial of CENVAT credit on rent-a-cab services, with associated interest and penalties, following Bombay HC precedent that employee transportation constitutes personal service and cannot qualify as "input service" post April 2011 amendment. Original authority directed to reassess ATD-related credits while maintaining disallowance of rent-a-cab service credits.
CESTAT partially allowed appeal concerning CENVAT credit disputes. Matter regarding CENVAT credit on Advice of Transfer Debit (ATD) remanded to original authority for reconsideration, following precedent that procedural lapses alone cannot justify credit denial when duty payment and equipment usage are verified. Interest and penalty determination linked to ATD credit admissibility also remanded. However, tribunal upheld denial of CENVAT credit on rent-a-cab services, with associated interest and penalties, following Bombay HC precedent that employee transportation constitutes personal service and cannot qualify as "input service" post April 2011 amendment. Original authority directed to reassess ATD-related credits while maintaining disallowance of rent-a-cab service credits.
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