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...
Revision jurisdiction was contested where revenue sought to revise an assessment by treating purchases as bogus. Tribunal found the assessing officer had issued statutory notices, conducted inquiries including notices to suppliers, and taken a plausible view after considering submissions; therefore the revisional officer could not substitute that view under the power to correct orders deemed "prejudicial to the interests of the revenue." Clauses in Explanation 2 relied on by the revisional officer were held unsupported by facts or law, the revisional order was set aside, and the appeal decided against the revenue.
Revision jurisdiction was contested where revenue sought to revise an assessment by treating purchases as bogus. Tribunal found the assessing officer had issued statutory notices, conducted inquiries including notices to suppliers, and taken a plausible view after considering submissions; therefore the revisional officer could not substitute that view under the power to correct orders deemed "prejudicial to the interests of the revenue." Clauses in Explanation 2 relied on by the revisional officer were held unsupported by facts or law, the revisional order was set aside, and the appeal decided against the revenue.
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