Interest on Wrongful Input Tax Credit is mandatory where excess transitional credit was retained and later reversed, and related objections were rejec...
Reopening Assessments invalid where satisfaction and jurisdictional approval are absent for third party seized material, leading to quashing of assess...
Central excise valuation rules applied to coal sales: the Tribunal held royalty is includible in transaction value for the normal limitation period though not for the extended period; consequential duty demand on royalty confirmed for the normal period but set aside for extended limitation because there was no intent to evade. Amounts collected as stowing excise duty, forest transit fee, state rural infrastructure and road tax, entry tax, terminal tax, development and environment cess, and duty on captive consumption are characterised as taxes or exempted levies and excluded from assessable value; related penalties and interest were also quashed.
Central excise valuation rules applied to coal sales: the Tribunal held royalty is includible in transaction value for the normal limitation period though not for the extended period; consequential duty demand on royalty confirmed for the normal period but set aside for extended limitation because there was no intent to evade. Amounts collected as stowing excise duty, forest transit fee, state rural infrastructure and road tax, entry tax, terminal tax, development and environment cess, and duty on captive consumption are characterised as taxes or exempted levies and excluded from assessable value; related penalties and interest were also quashed.
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