Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
Internal TNMM supports deletion of freight-forwarding adjustments where comparable non-AE transactions are separately identifiable and materially simi...
CESTAT set aside multiple duty demands totaling over Rs. 2.3 crores against appellant manufacturer of LABSA. Primary allegations of clandestine manufacture and removal based on theoretical input-output ratios (1:1.475 vs 1:1.45) were rejected due to lack of chemical examination. Demands based on batch charges, computer printouts, and diary entries were dropped for insufficient evidence and non-compliance with Section 36B requirements. Claims regarding spent acid clearance and CENVAT credit denial were invalidated. Only the matter of Rs. 3,27,046/- regarding consignment agent sales was remanded for verification. Associated penalties on appellant and co-appellants were set aside, as demands were primarily based on assumptions without corroborative evidence of unauthorized raw material procurement.
CESTAT set aside multiple duty demands totaling over Rs. 2.3 crores against appellant manufacturer of LABSA. Primary allegations of clandestine manufacture and removal based on theoretical input-output ratios (1:1.475 vs 1:1.45) were rejected due to lack of chemical examination. Demands based on batch charges, computer printouts, and diary entries were dropped for insufficient evidence and non-compliance with Section 36B requirements. Claims regarding spent acid clearance and CENVAT credit denial were invalidated. Only the matter of Rs. 3,27,046/- regarding consignment agent sales was remanded for verification. Associated penalties on appellant and co-appellants were set aside, as demands were primarily based on assumptions without corroborative evidence of unauthorized raw material procurement.
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TaxTMI 
TaxTMI 
