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...
Temporary export of goods for own use in executing an overseas service contract, without consideration or transfer of title, was held not to constitute a "supply" under GST, relying on CBIC clarification; consequently, IGST was not payable at export and recovery under Sl. No.1(d) of Notification No.45/2017-Customs was inapplicable, making the transaction fall within the exemption for exports otherwise than by way of supply. The denial of BCD/SWS exemption merely due to alleged IGST non-compliance was rejected since the notification grants component-wise exemptions with independent conditions. Extended limitation was disallowed absent fraud/suppression as disclosures were made in statutory documents, and confiscation/fine/penalties were set aside; the demand was quashed and appeal allowed with consequential relief. - CESTAT
Temporary export of goods for own use in executing an overseas service contract, without consideration or transfer of title, was held not to constitute a "supply" under GST, relying on CBIC clarification; consequently, IGST was not payable at export and recovery under Sl. No.1(d) of Notification No.45/2017-Customs was inapplicable, making the transaction fall within the exemption for exports otherwise than by way of supply. The denial of BCD/SWS exemption merely due to alleged IGST non-compliance was rejected since the notification grants component-wise exemptions with independent conditions. Extended limitation was disallowed absent fraud/suppression as disclosures were made in statutory documents, and confiscation/fine/penalties were set aside; the demand was quashed and appeal allowed with consequential relief. - CESTAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
