CENVAT credit availability after omission of Rule 12B in textiles confirmed; late addendum to SCN introducing new grounds held time-barred and invalid...
Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
The note addresses limitation for passing final assessment orders where the start of limitation is triggered by a prior Tribunal order; it applies the principle that the limitation period begins from the date of the Tribunal order, obliging the assessing officer to complete the final assessment within the statutory window following that fiscal year-end. Because the DRP issued directions after that prescribed period, the final assessment became time-barred and could not be validly completed. The practical effect: assessments for the relevant year were quashed as barred by limitation and the assessee's challenge succeeds on that ground.
The note addresses limitation for passing final assessment orders where the start of limitation is triggered by a prior Tribunal order; it applies the principle that the limitation period begins from the date of the Tribunal order, obliging the assessing officer to complete the final assessment within the statutory window following that fiscal year-end. Because the DRP issued directions after that prescribed period, the final assessment became time-barred and could not be validly completed. The practical effect: assessments for the relevant year were quashed as barred by limitation and the assessee's challenge succeeds on that ground.
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