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 allowed the appeal in part, setting aside confirmation of penalties under s.77 and s.78(1) of the Finance Act, 1994. The Tribunal found the appellant had been granted personal hearing, had filed ST-3 returns and paid the re-determined service tax (including the s.35F pre-deposit as read with s.83), and that the proceedings were based on data furnished by the appellant to the Income Tax authorities. There was no evidence of deliberate suppression, fraud or collusion warranting invocation of the extended limitation proviso. In consequence, penalty imposition was held legally untenable and the impugned order modified accordingly.
The CESTAT allowed the appeal in part, setting aside confirmation of penalties under s.77 and s.78(1) of the Finance Act, 1994. The Tribunal found the appellant had been granted personal hearing, had filed ST-3 returns and paid the re-determined service tax (including the s.35F pre-deposit as read with s.83), and that the proceedings were based on data furnished by the appellant to the Income Tax authorities. There was no evidence of deliberate suppression, fraud or collusion warranting invocation of the extended limitation proviso. In consequence, penalty imposition was held legally untenable and the impugned order modified accordingly.
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