Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
The CESTAT held that the substitution of Entry No. 25(a) in Notification No. 25/2012-ST by Notification No. 6/2014-ST is prospective, not retrospective, and thus the unamended notification governs the refund claim period. The appellant, a governmental authority, is entitled to exemption under the unamended clause 25(a) for services related to water supply, subject to proving entitlement. However, the refund claim is restricted by the limitation period under Section 11B of the Central Excise Act, as applicable to the Finance Act, allowing recovery only for tax paid within the prescribed timeframe. The appeal was allowed in part, and the matter remanded for quantification of the refundable amount within limitation, conditioned on the appellant submitting an independent chartered accountant's certificate confirming no unjust enrichment. The impugned order was set aside accordingly.
The CESTAT held that the substitution of Entry No. 25(a) in Notification No. 25/2012-ST by Notification No. 6/2014-ST is prospective, not retrospective, and thus the unamended notification governs the refund claim period. The appellant, a governmental authority, is entitled to exemption under the unamended clause 25(a) for services related to water supply, subject to proving entitlement. However, the refund claim is restricted by the limitation period under Section 11B of the Central Excise Act, as applicable to the Finance Act, allowing recovery only for tax paid within the prescribed timeframe. The appeal was allowed in part, and the matter remanded for quantification of the refundable amount within limitation, conditioned on the appellant submitting an independent chartered accountant's certificate confirming no unjust enrichment. The impugned order was set aside accordingly.
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