Interest on Wrongful Input Tax Credit is mandatory where excess transitional credit was retained and later reversed, and related objections were rejec...
Classification of imported viewing/smart cards was disputed; CESTAT held classification is a matter of opinion and Videocon's self-assessment under CTI 8523 52 90 was correct, setting aside re classification to CTI 8529 90 90. The Tribunal found no valid basis to invoke extended limitation under section 28(4) and therefore quashed the demand. Statements recorded under section 108 were inadmissible because they were not admitted following section 138B procedure, and consequential confiscation and all penalties (including section 114AA and redemption fine requests) were set aside.
Classification of imported viewing/smart cards was disputed; CESTAT held classification is a matter of opinion and Videocon's self-assessment under CTI 8523 52 90 was correct, setting aside re classification to CTI 8529 90 90. The Tribunal found no valid basis to invoke extended limitation under section 28(4) and therefore quashed the demand. Statements recorded under section 108 were inadmissible because they were not admitted following section 138B procedure, and consequential confiscation and all penalties (including section 114AA and redemption fine requests) were set aside.
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