Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
CESTAT allowed the appeal, finding that: (1) proportionate CENVAT credit reversal sufficiently complied with Rule 6(3) of CENVAT Credit Rules, 2004; (2) CA certificates validly established no credit was availed on common input services from October 2012 to March 2015; (3) original invoice submission to Range Office was acceptable; and (4) extended limitation period was improperly invoked given comprehensive prior audits and regular return filings. The tribunal set aside the demand for 5%/6% of exempted services value, effectively ruling in favor of the appellant by rejecting the department's claims and procedural challenges.
CESTAT allowed the appeal, finding that: (1) proportionate CENVAT credit reversal sufficiently complied with Rule 6(3) of CENVAT Credit Rules, 2004; (2) CA certificates validly established no credit was availed on common input services from October 2012 to March 2015; (3) original invoice submission to Range Office was acceptable; and (4) extended limitation period was improperly invoked given comprehensive prior audits and regular return filings. The tribunal set aside the demand for 5%/6% of exempted services value, effectively ruling in favor of the appellant by rejecting the department's claims and procedural challenges.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
