Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
Unsubstantiated exempt agricultural income claim sustains concealment penalty after disclosure only on departmental detection and no bona fide evidenc...
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CESTAT adjudicated a dispute concerning classification and excise duty for palm stearin products. The tribunal determined that the appellant's classification was bona fide, based on prior circular and supported by documented manufacturing processes. The department failed to establish fraudulent intent in duty non-payment. The extended limitation period under Section 11A could not be invoked absent evidence of deliberate evasion. Critically, the show cause notice issued beyond the standard one-year limitation was deemed invalid. Precedential cases from Mumbai and Ahmedabad benches supported the appellant's position. The tribunal ultimately allowed the appeal, negating the duty demands and rejecting the extended limitation period application.
CESTAT adjudicated a dispute concerning classification and excise duty for palm stearin products. The tribunal determined that the appellant's classification was bona fide, based on prior circular and supported by documented manufacturing processes. The department failed to establish fraudulent intent in duty non-payment. The extended limitation period under Section 11A could not be invoked absent evidence of deliberate evasion. Critically, the show cause notice issued beyond the standard one-year limitation was deemed invalid. Precedential cases from Mumbai and Ahmedabad benches supported the appellant's position. The tribunal ultimately allowed the appeal, negating the duty demands and rejecting the extended limitation period application.
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