Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
CESTAT dismissed the appeal, upholding denial of CENVAT credit and consequential demand and penalties. The appellant, a manufacturer of TMT bars without an induction furnace, had claimed credit on melting scrap imported and dealt with only on paper, which was not its input at the relevant time. The Tribunal held that Rule 9 does not permit endorsement of Bills of Entry by a registered dealer and that no evidence existed of physical receipt, movement or use of the scrap in manufacture. The paper transactions, lacking sale, purchase or actual transfer of goods, rendered the appellant ineligible for CENVAT credit.
CESTAT dismissed the appeal, upholding denial of CENVAT credit and consequential demand and penalties. The appellant, a manufacturer of TMT bars without an induction furnace, had claimed credit on melting scrap imported and dealt with only on paper, which was not its input at the relevant time. The Tribunal held that Rule 9 does not permit endorsement of Bills of Entry by a registered dealer and that no evidence existed of physical receipt, movement or use of the scrap in manufacture. The paper transactions, lacking sale, purchase or actual transfer of goods, rendered the appellant ineligible for CENVAT credit.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
