Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
Reopening of assessment depends on prior approval from the authority specified for the applicable time-bar category; where more than three years had elapsed from the end of the relevant assessment year, approval required from the higher authority under the substituted scheme. The High Court found approval was obtained from the lower specified authority instead of the required higher authority, rendering the s.148 notice, the s.148A(d) order and consequent reassessment and penalty proceedings jurisdictionally invalid. The HC quashed and set aside the notice, the reassessment order and the penalty notice, deciding in favour of the assessee.
Reopening of assessment depends on prior approval from the authority specified for the applicable time-bar category; where more than three years had elapsed from the end of the relevant assessment year, approval required from the higher authority under the substituted scheme. The High Court found approval was obtained from the lower specified authority instead of the required higher authority, rendering the s.148 notice, the s.148A(d) order and consequent reassessment and penalty proceedings jurisdictionally invalid. The HC quashed and set aside the notice, the reassessment order and the penalty notice, deciding in favour of the assessee.
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