Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
HC dismissed the appeal, finding no substantial question of law regarding invocation of the extended five-year limitation period under Section 73(1) of Finance Act, 1994. The court upheld CESTAT's determination that the respondent's actions were based on bona fide belief rather than wilful misstatement or fraud. Though the Commissioner issued a composite show cause notice covering 2004-2009, the court declined to interfere with CESTAT's order, particularly regarding the period after the August 23, 2007 master circular, as no fraudulent intent was established to justify extending the limitation period.
HC dismissed the appeal, finding no substantial question of law regarding invocation of the extended five-year limitation period under Section 73(1) of Finance Act, 1994. The court upheld CESTAT's determination that the respondent's actions were based on bona fide belief rather than wilful misstatement or fraud. Though the Commissioner issued a composite show cause notice covering 2004-2009, the court declined to interfere with CESTAT's order, particularly regarding the period after the August 23, 2007 master circular, as no fraudulent intent was established to justify extending the limitation period.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
