Imported menthol-scented sweet supari classification dispute: seizure quashed, release for home consumption subject to duty bond; bank guarantee refus...
CKD/SKD air-conditioner components classifiable with finished units by essential character; prior advance ruling extended three years, FTA benefits po...
Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
Where the assessment order and demand notice specified "nil" demand, and tax demand arose only subsequently through rectification under s.154, the assessee could not be treated as in default under s.220(1) so as to trigger interest under s.220(2). Interest under s.220(2) can run only after expiry of 30 days from service of a fresh notice of demand under s.156 consequent to the rectification, and cannot be levied for any prior period; an assessee cannot be penalised for the AO's computational error in the original assessment. Interest levied under s.220(2) was held unsustainable and directed to be deleted. - ITAT
Where the assessment order and demand notice specified "nil" demand, and tax demand arose only subsequently through rectification under s.154, the assessee could not be treated as in default under s.220(1) so as to trigger interest under s.220(2). Interest under s.220(2) can run only after expiry of 30 days from service of a fresh notice of demand under s.156 consequent to the rectification, and cannot be levied for any prior period; an assessee cannot be penalised for the AO's computational error in the original assessment. Interest levied under s.220(2) was held unsustainable and directed to be deleted. - ITAT
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