NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
Invoked extended limitation under the proviso to section 28(1) was rejected because revenue failed to prove deliberate suppression to evade duty; first check, examination and Textile Committee testing matched declared goods and an out-of-charge order was issued, showing departmental knowledge. The claim that end use was unknown at first check did not establish intent to evade. Consequently, demands founded solely on the extended period, including duty, interest, penalty and confiscation, were vacated and the appeal allowed.
Invoked extended limitation under the proviso to section 28(1) was rejected because revenue failed to prove deliberate suppression to evade duty; first check, examination and Textile Committee testing matched declared goods and an out-of-charge order was issued, showing departmental knowledge. The claim that end use was unknown at first check did not establish intent to evade. Consequently, demands founded solely on the extended period, including duty, interest, penalty and confiscation, were vacated and the appeal allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
