Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
The note contrasts the scope of reopening under Section 147 with proceedings under Section 148A, stating that 148A requires only prima facie satisfaction to initiate reassessment while Section 147 involves final determination on escapement of income. It records the principle that cross examination of a person whose statement under search proceedings is relied upon is not mandatory at the 148A stage but becomes necessary when issuing a Section 147 order if that statement is the basis for reassessment. An Assessing Officer inviting a witness for cross examination at the 148A stage does not convert that invitation into a statutory obligation; the petitioner may be afforded cross examination in subsequent proceedings.
The note contrasts the scope of reopening under Section 147 with proceedings under Section 148A, stating that 148A requires only prima facie satisfaction to initiate reassessment while Section 147 involves final determination on escapement of income. It records the principle that cross examination of a person whose statement under search proceedings is relied upon is not mandatory at the 148A stage but becomes necessary when issuing a Section 147 order if that statement is the basis for reassessment. An Assessing Officer inviting a witness for cross examination at the 148A stage does not convert that invitation into a statutory obligation; the petitioner may be afforded cross examination in subsequent proceedings.
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