Timing mismatch in income recognition requires verification whether receipts were already taxed in an earlier year; matter remitted for fresh examinat...
FOB transaction value and export incentives: customs valuation cannot override contractual export benefits or support confiscation without valid proof...
The text clarifies that recovery without adjudication is permissible only where the taxpayer has clearly admitted tax liability in filed returns, and such admitted liability remains unpaid; consequently, coercive recovery cannot be invoked for alleged wrongful utilisation of input tax credit without first completing adjudicatory assessment proceedings that quantify tax, interest, fees and penalties. Alleged misuse of input tax credit must be addressed through assessment processes; only after adjudication can recovery steps be taken. The impugned recovery action was set aside and interest collected was ordered to be refunded to the taxpayer.
The text clarifies that recovery without adjudication is permissible only where the taxpayer has clearly admitted tax liability in filed returns, and such admitted liability remains unpaid; consequently, coercive recovery cannot be invoked for alleged wrongful utilisation of input tax credit without first completing adjudicatory assessment proceedings that quantify tax, interest, fees and penalties. Alleged misuse of input tax credit must be addressed through assessment processes; only after adjudication can recovery steps be taken. The impugned recovery action was set aside and interest collected was ordered to be refunded to the taxpayer.
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