Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
CESTAT held that Central Excise officers possess jurisdiction to issue show cause notices for recovery of customs duty from EOUs under their administrative control, affirming the validity of notifications and circulars delegating such authority. However, the department failed to substantiate the clandestine removal allegations with credible evidence or proper documentation, rendering duty demands unsustainable. Procedural lapses, such as expired warehousing licenses during stock transfers between EOUs, were deemed insufficient to justify duty recovery. Consequently, demands and penalties related to shortages and clearances were set aside. The tribunal remanded issues concerning duty on deemed exports to certain parties for fresh adjudication. The appeal was allowed in part, quashing most demands while directing reconsideration of specific deemed export claims.
CESTAT held that Central Excise officers possess jurisdiction to issue show cause notices for recovery of customs duty from EOUs under their administrative control, affirming the validity of notifications and circulars delegating such authority. However, the department failed to substantiate the clandestine removal allegations with credible evidence or proper documentation, rendering duty demands unsustainable. Procedural lapses, such as expired warehousing licenses during stock transfers between EOUs, were deemed insufficient to justify duty recovery. Consequently, demands and penalties related to shortages and clearances were set aside. The tribunal remanded issues concerning duty on deemed exports to certain parties for fresh adjudication. The appeal was allowed in part, quashing most demands while directing reconsideration of specific deemed export claims.
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