Classification of imported salvaged shaft pieces as ship parts confirmed, reassessment time-barred and appeal allowed restoring original classificatio...
Scope of intermediary status for data hosting services: tribunal finds provider not intermediary, services exported and not taxable, limited remand on...
CENVAT credit availability after omission of Rule 12B in textiles confirmed; late addendum to SCN introducing new grounds held time-barred and invalid...
Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
Admissibility of seized diaries showing unaccounted sales under code "802" was accepted as business records and the Tribunal estimated unaccounted business income by applying a 2.5% net profit margin on gross receipts, the addition to be over and above returned income. Once profit on those receipts is taxed, subsequent additions for payments or investments funded from the same receipts (including payment to a jewellery supplier and acquisition of jewellery and bars) were deleted. Separate additions for an alleged cash payment, payments to an identified individual, land deal cash, and a vehicle payment were set aside for lack of corroborative evidence or because they were subsumed by the profit estimation; telescoping benefit was allowed.
Admissibility of seized diaries showing unaccounted sales under code "802" was accepted as business records and the Tribunal estimated unaccounted business income by applying a 2.5% net profit margin on gross receipts, the addition to be over and above returned income. Once profit on those receipts is taxed, subsequent additions for payments or investments funded from the same receipts (including payment to a jewellery supplier and acquisition of jewellery and bars) were deleted. Separate additions for an alleged cash payment, payments to an identified individual, land deal cash, and a vehicle payment were set aside for lack of corroborative evidence or because they were subsumed by the profit estimation; telescoping benefit was allowed.
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