Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
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The High Court held that the Settlement Commission cannot reopen or rectify its concluded settlement order under Section 154 to impose interest under Section 234B, following Supreme Court precedent. The Commission's rectification order rectifying the settlement order passed under Section 245D(4) was quashed as invalid, and the consequent demand notice was set aside. The court rejected Revenue's submission that interest should be levied from intimation under Section 143(1) until admission, holding that reopening concluded proceedings indirectly would contravene the settled rule against such reopening. Writ petition allowed.
The High Court held that the Settlement Commission cannot reopen or rectify its concluded settlement order under Section 154 to impose interest under Section 234B, following Supreme Court precedent. The Commission's rectification order rectifying the settlement order passed under Section 245D(4) was quashed as invalid, and the consequent demand notice was set aside. The court rejected Revenue's submission that interest should be levied from intimation under Section 143(1) until admission, holding that reopening concluded proceedings indirectly would contravene the settled rule against such reopening. Writ petition allowed.
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