Search and seizure: abatement of earlier search bars use of prior seized material in later search-based assessments; relief limited to new documents f...
Admission of additional evidence under remand rules must await a meaningful remand report; failure to do so breaches natural justice and mandates rema...
Export Obligation Discharge Certificates for EPCG compliance cannot be questioned by Customs unless DGFT adjudicates and cancels them, so demands quas...
Subsidy received under the State Mega Project incentive scheme was held revenue in nature because it was linked to electricity duty/stamp duty exemptions and VAT/CST-linked promotion subsidy, not to acquisition of any specific fixed asset; Explanation 10 to section 43(1) was inapplicable and the receipt was taxable as income under section 2(24)(xviii), rejecting the claim of capital receipt/exemption. CPC's prima facie adjustment under section 143(1)(a)(ii) adding the subsidy was upheld since the return contained an apparent mismatch and incomplete exempt-income disclosure, warranting correction, and the first appellate order was reversed. Disallowance of delayed employees' PF/ESIC was remanded to examine the "advance deposit" plea. Alleged understatement of duty drawback was remanded for reconciliation. - ITAT
Subsidy received under the State Mega Project incentive scheme was held revenue in nature because it was linked to electricity duty/stamp duty exemptions and VAT/CST-linked promotion subsidy, not to acquisition of any specific fixed asset; Explanation 10 to section 43(1) was inapplicable and the receipt was taxable as income under section 2(24)(xviii), rejecting the claim of capital receipt/exemption. CPC's prima facie adjustment under section 143(1)(a)(ii) adding the subsidy was upheld since the return contained an apparent mismatch and incomplete exempt-income disclosure, warranting correction, and the first appellate order was reversed. Disallowance of delayed employees' PF/ESIC was remanded to examine the "advance deposit" plea. Alleged understatement of duty drawback was remanded for reconciliation. - ITAT
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