Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
The dominant issue was whether the extended period of limitation was validly invoked for denying exemption, ordering confiscation, and imposing penalties in relation to imported fabrics. Applying the binding Division Bench decision, the Tribunal held that the Revenue failed to satisfy the Supreme Court tests for invoking the extended limitation period, and therefore the impugned adjudication order could not be sustained; the appeals were allowed on limitation. Having decided limitation in favour of the appellant, the Tribunal held it lacked jurisdiction to examine the merits of classification, exemption denial, confiscation, or penalties; consequentially, those demands and actions did not survive. - CESTAT
The dominant issue was whether the extended period of limitation was validly invoked for denying exemption, ordering confiscation, and imposing penalties in relation to imported fabrics. Applying the binding Division Bench decision, the Tribunal held that the Revenue failed to satisfy the Supreme Court tests for invoking the extended limitation period, and therefore the impugned adjudication order could not be sustained; the appeals were allowed on limitation. Having decided limitation in favour of the appellant, the Tribunal held it lacked jurisdiction to examine the merits of classification, exemption denial, confiscation, or penalties; consequentially, those demands and actions did not survive. - CESTAT
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