Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
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CESTAT held that the respondent's rebate claim based on CIF value was permissible under Central Excise law. The tribunal determined the respondent is eligible for full duty refund on CIF value, rejecting revenue's contention. The extended period of limitation was deemed inappropriate since the department was previously aware of the valuation issue. The tribunal emphasized that inclusion of freight and insurance in transaction value does not constitute fraud or intent to evade duty. Consequently, the revenue's appeal was dismissed, affirming the original adjudicating authority's order and ensuring revenue neutrality in the duty calculation process.
CESTAT held that the respondent's rebate claim based on CIF value was permissible under Central Excise law. The tribunal determined the respondent is eligible for full duty refund on CIF value, rejecting revenue's contention. The extended period of limitation was deemed inappropriate since the department was previously aware of the valuation issue. The tribunal emphasized that inclusion of freight and insurance in transaction value does not constitute fraud or intent to evade duty. Consequently, the revenue's appeal was dismissed, affirming the original adjudicating authority's order and ensuring revenue neutrality in the duty calculation process.
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