ESOP expenditure allowed as FMV difference; long-term capital gain issue sent back for collector rate determination; deferred income additions disallo...
Appeal allowed; impugned order quashed as regulator failed to prove nexus or manipulative scheme; sale genuine - s.12A(a)-(c), Regs 3(a)-(d),4(1),4(2)...
Appellant's ring-back tone service held OIDAR, taxable domestically for 01.07.2012-31.07.2016; liability confirmed, penalties vacated, remanded for re...
CESTAT dismissed the appeals, sustaining invocation of the extended period of limitation and upholding denial of relief where the appellant relied on manipulated/forged Transport/Registration Authorizations (TRAs). The Tribunal held that the appellant's plea of ignorance of manipulation was untenable because statutory procedure required procurement of TRAs from the port of registration and verification of their authenticity; failure to apply to the issuing port and to verify documents constituted lack of due diligence. Consequently, the forgery of TRAs could not absolve the appellant, and relief was refused with appeals dismissed.
CESTAT dismissed the appeals, sustaining invocation of the extended period of limitation and upholding denial of relief where the appellant relied on manipulated/forged Transport/Registration Authorizations (TRAs). The Tribunal held that the appellant's plea of ignorance of manipulation was untenable because statutory procedure required procurement of TRAs from the port of registration and verification of their authenticity; failure to apply to the issuing port and to verify documents constituted lack of due diligence. Consequently, the forgery of TRAs could not absolve the appellant, and relief was refused with appeals dismissed.
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