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...
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CESTAT adjudicated a central excise duty dispute involving alleged clandestine removal of goods without valid invoices. The tribunal invalidated the demand of Rs. 3,04,24,623/- and Rs. 1,76,650/- due to procedural non-compliance under section 9D of the Central Excise Act. Key deficiencies included: unexamined witness statements, unverified loose papers, and absence of corroborative evidence for stock shortage allegations. The tribunal emphasized that mere detection of stock shortages cannot automatically establish clandestine removal, necessitating comprehensive investigation considering multiple evidentiary factors. Consequently, the entire demand with accompanying interest and penalty was set aside, effectively allowing the appellant's appeal.
CESTAT adjudicated a central excise duty dispute involving alleged clandestine removal of goods without valid invoices. The tribunal invalidated the demand of Rs. 3,04,24,623/- and Rs. 1,76,650/- due to procedural non-compliance under section 9D of the Central Excise Act. Key deficiencies included: unexamined witness statements, unverified loose papers, and absence of corroborative evidence for stock shortage allegations. The tribunal emphasized that mere detection of stock shortages cannot automatically establish clandestine removal, necessitating comprehensive investigation considering multiple evidentiary factors. Consequently, the entire demand with accompanying interest and penalty was set aside, effectively allowing the appellant's appeal.
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