NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
Procedural irregularity: returning a rebate application without specifying the exact defects violated the officer's duty to consider the claim and to afford opportunity to cure, rendering the return irregular and unsustainable. Documentary evidence versus form formalities: non-production of original/duplicate ARE 1 is a procedural, directory requirement; where contemporaneous shipping documents, verified copies, officer verification and CENVAT records establish export and duty payment, sanctioning the rebate is permissible and cannot be defeated solely by non-production of originals. Limitation: a claim initially filed within time but returned for defects relates back to the original filing date; re filing does not start a new limitation period.
Procedural irregularity: returning a rebate application without specifying the exact defects violated the officer's duty to consider the claim and to afford opportunity to cure, rendering the return irregular and unsustainable. Documentary evidence versus form formalities: non-production of original/duplicate ARE 1 is a procedural, directory requirement; where contemporaneous shipping documents, verified copies, officer verification and CENVAT records establish export and duty payment, sanctioning the rebate is permissible and cannot be defeated solely by non-production of originals. Limitation: a claim initially filed within time but returned for defects relates back to the original filing date; re filing does not start a new limitation period.
Note: It is a system-generated summary and is for quick reference only.
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