Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
CESTAT allowed the appeal of the manufacturer-exporter under the Target Plus scheme, holding that use of imported inputs under Customs Notification No. 73/2006-Cus through a job worker did not violate condition (3) of the exemption. The Tribunal interpreted "own use" to include manufacture through job-work facilities, relying on a coordinate bench ruling in Silver Line Plastpack and a supporting Public Notice, and noted the absence of any allegation or finding that the goods were sold to the job worker. The impugned demand was set aside, and the duty credit entitlement under the Target Plus scheme was held to be validly availed.
CESTAT allowed the appeal of the manufacturer-exporter under the Target Plus scheme, holding that use of imported inputs under Customs Notification No. 73/2006-Cus through a job worker did not violate condition (3) of the exemption. The Tribunal interpreted "own use" to include manufacture through job-work facilities, relying on a coordinate bench ruling in Silver Line Plastpack and a supporting Public Notice, and noted the absence of any allegation or finding that the goods were sold to the job worker. The impugned demand was set aside, and the duty credit entitlement under the Target Plus scheme was held to be validly availed.
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TaxTMI 
TaxTMI 
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