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...
Provisional attachment under a PAO was upheld on the basis that available investigative material, including recovered bribe money and an unquashed FIR, established a prima facie case of money laundering; the appellant's contention that no crime was committed was rejected. The Tribunal directed that attachment must be limited to quantifiable proceeds of crime rather than the entire contract value, recognising legitimate manufacturing costs and expenses. The respondent was ordered to quantify the recoverable proceeds (focusing on the profit/illicit portion) and reassess the provisional attachment within the specified four week period.
Provisional attachment under a PAO was upheld on the basis that available investigative material, including recovered bribe money and an unquashed FIR, established a prima facie case of money laundering; the appellant's contention that no crime was committed was rejected. The Tribunal directed that attachment must be limited to quantifiable proceeds of crime rather than the entire contract value, recognising legitimate manufacturing costs and expenses. The respondent was ordered to quantify the recoverable proceeds (focusing on the profit/illicit portion) and reassess the provisional attachment within the specified four week period.
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