Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Limitation of appeal is to be reckoned from the date of communication under section 128, and an appeal admitted and heard cannot later be dismissed on mere technical limitation without notice, entitling the appellant to relief. Para 2.17 of the FTP prior to June 2012 allowed import of second hand capital goods, so the 2009 import was freely importable and confiscation under statutory confiscation provisions is unsustainable. Valuation based solely on a chartered engineer's residual value estimate, without evidence of extra consideration or suppression, does not establish mis declaration; consequently redemption fine and penalty fail and are set aside.
Limitation of appeal is to be reckoned from the date of communication under section 128, and an appeal admitted and heard cannot later be dismissed on mere technical limitation without notice, entitling the appellant to relief. Para 2.17 of the FTP prior to June 2012 allowed import of second hand capital goods, so the 2009 import was freely importable and confiscation under statutory confiscation provisions is unsustainable. Valuation based solely on a chartered engineer's residual value estimate, without evidence of extra consideration or suppression, does not establish mis declaration; consequently redemption fine and penalty fail and are set aside.
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