Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
Indirect corporate control can create related-party status, excluding financial creditors from Committee of Creditors representation, participation an...
Scientific research association approval requires continuing SIRO status, annual donation reporting, and donor certificates for the approved foundatio...
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CESTAT allowed the appeal, holding that the ISD's distribution of CENVAT/ITC to the recipient unit was lawful; mere technical defects in supplier invoices (addressed to another unit or absence of non-essential particulars) and reliance on internal CWIP ledgers do not suffice to disallow credit where genuineness is not disproved and corroborative evidence (payments, vouchers, performance proof) exists. The Tribunal found no findings of fabricated invoices, shell suppliers or circular payments and concluded the Department failed to establish the two statutory conditions under Rule 7/ISD provisions. Further, invocation of the extended limitation period was not established, rendering the demand time-barred. Consequently the demand, interest and penalties were vacated.
CESTAT allowed the appeal, holding that the ISD's distribution of CENVAT/ITC to the recipient unit was lawful; mere technical defects in supplier invoices (addressed to another unit or absence of non-essential particulars) and reliance on internal CWIP ledgers do not suffice to disallow credit where genuineness is not disproved and corroborative evidence (payments, vouchers, performance proof) exists. The Tribunal found no findings of fabricated invoices, shell suppliers or circular payments and concluded the Department failed to establish the two statutory conditions under Rule 7/ISD provisions. Further, invocation of the extended limitation period was not established, rendering the demand time-barred. Consequently the demand, interest and penalties were vacated.
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TaxTMI 
TaxTMI 
of 4894 
