Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
CESTAT allowed interest on refund of voluntary deposits made during investigation of unauthorized Coumarin removal. Following established precedents and CBE&C Circular No. 984/8/2014-CX, the Tribunal confirmed appellant's entitlement to 12% per annum interest on pre-deposit amount of Rs.19,47,750/- from date of deposit until refund. The decision aligned with prior rulings in Parle Agro Private Limited and Pace Marketing Specialties cases, which relied on Sandvik Asia Limited judgment. Original authority's refund sanction was upheld as lawful, with interest payment ordered per statutory provisions. The Tribunal maintained consistency with coordinate bench decisions on interest eligibility for voluntary deposits during investigations.
CESTAT allowed interest on refund of voluntary deposits made during investigation of unauthorized Coumarin removal. Following established precedents and CBE&C Circular No. 984/8/2014-CX, the Tribunal confirmed appellant's entitlement to 12% per annum interest on pre-deposit amount of Rs.19,47,750/- from date of deposit until refund. The decision aligned with prior rulings in Parle Agro Private Limited and Pace Marketing Specialties cases, which relied on Sandvik Asia Limited judgment. Original authority's refund sanction was upheld as lawful, with interest payment ordered per statutory provisions. The Tribunal maintained consistency with coordinate bench decisions on interest eligibility for voluntary deposits during investigations.
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TaxTMI 
TaxTMI 
of 4915 
