Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
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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