Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Demand of excise duty based solely on shortage of finished goods detected on physical verification was held unsustainable because mere shortage, absent corroborative evidence, does not establish clandestine removal; the demand and allied penalty were set aside. Cenvat credit on steel items used for base structures/shades and related works was held admissible since the contrary Larger Bench view stood overturned and the amended input definition supported credit; denial was set aside. Credit on capital goods received after the unit became operational was allowed as timing of receipt, without dispute on receipt/use, is not a bar. Where the show cause notice invoked the extended period on interpretational issues, extended limitation failed and, the notice being composite, the entire demand (including normal period) was quashed; consequential relief followed. - CESTAT
Demand of excise duty based solely on shortage of finished goods detected on physical verification was held unsustainable because mere shortage, absent corroborative evidence, does not establish clandestine removal; the demand and allied penalty were set aside. Cenvat credit on steel items used for base structures/shades and related works was held admissible since the contrary Larger Bench view stood overturned and the amended input definition supported credit; denial was set aside. Credit on capital goods received after the unit became operational was allowed as timing of receipt, without dispute on receipt/use, is not a bar. Where the show cause notice invoked the extended period on interpretational issues, extended limitation failed and, the notice being composite, the entire demand (including normal period) was quashed; consequential relief followed. - CESTAT
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