Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Entitlement to refund of countervailing duty and special additional duty paid on excess imports under advance authorisation was asserted on the basis that post GST CENVAT credit was unavailable; transitional provisions require refunds accruing after GST implementation to be paid in cash and admissible credit refunded accordingly, and therefore the departmental rejection was incorrect. The tribunal found the refund claim complied with transitional cash refund rules and Section 142(6)(a) principles and directed allowance of the refund. The tribunal also held unjust enrichment did not bar refund because the refund amount was disclosed in financial statements and a chartered accountant certified non pass through of the duty incidence.
Entitlement to refund of countervailing duty and special additional duty paid on excess imports under advance authorisation was asserted on the basis that post GST CENVAT credit was unavailable; transitional provisions require refunds accruing after GST implementation to be paid in cash and admissible credit refunded accordingly, and therefore the departmental rejection was incorrect. The tribunal found the refund claim complied with transitional cash refund rules and Section 142(6)(a) principles and directed allowance of the refund. The tribunal also held unjust enrichment did not bar refund because the refund amount was disclosed in financial statements and a chartered accountant certified non pass through of the duty incidence.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
