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 allowed the appeal in part, holding that the appellants' claim that gherkins in brine must be included for computation of SION norms is sustainable and, in the absence of contrary findings, consumption of vinegar did not exceed permitted SION entitlements; accordingly the demand for customs and central excise duty, interest and penalty insofar as founded on alleged excess vinegar consumption is set aside. The demand in respect of HDPE barrels remains operative, as there is no contest on that issue and CESTAT declined interference. Having decided the substantive merits, the Tribunal found no need to examine extended limitation.
CESTAT allowed the appeal in part, holding that the appellants' claim that gherkins in brine must be included for computation of SION norms is sustainable and, in the absence of contrary findings, consumption of vinegar did not exceed permitted SION entitlements; accordingly the demand for customs and central excise duty, interest and penalty insofar as founded on alleged excess vinegar consumption is set aside. The demand in respect of HDPE barrels remains operative, as there is no contest on that issue and CESTAT declined interference. Having decided the substantive merits, the Tribunal found no need to examine extended limitation.
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