Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Page of 4784
Press 'Enter' after typing page number.
61 to 80 of 95673 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
CESTAT held that Section 11B(2)(c) and (d) do not provide for refund of unutilized cenvat credit upon factory closure. Rule 5 of Cenvat Credit Rules, 2004 permits refund only for export-related scenarios, not for manufacturing cessation. The appellant's contentions were rejected, finding no statutory basis for cash refund of accumulated credit. The tribunal emphasized that equitable considerations cannot override explicit statutory provisions. Despite potential financial hardship, the claim was deemed untenable as the regulations do not permit such refunds. Consequently, the appeal was dismissed, reinforcing a strict interpretation of tax credit refund regulations.
CESTAT held that Section 11B(2)(c) and (d) do not provide for refund of unutilized cenvat credit upon factory closure. Rule 5 of Cenvat Credit Rules, 2004 permits refund only for export-related scenarios, not for manufacturing cessation. The appellant's contentions were rejected, finding no statutory basis for cash refund of accumulated credit. The tribunal emphasized that equitable considerations cannot override explicit statutory provisions. Despite potential financial hardship, the claim was deemed untenable as the regulations do not permit such refunds. Consequently, the appeal was dismissed, reinforcing a strict interpretation of tax credit refund regulations.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4784
Join Channel
TaxTMI 
