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...
Where the assessee's books of account, stock registers and primary records were accepted and not rejected, the article explains that additions treating cash bank deposits as unexplained credits cannot stand absent cogent material displacing the books; the Assessing Officer's reliance on generalized suspicion, timing clusters, third party bank information, survey observations or post facto VAT revisions was held insufficient to rebut the assessee's prima facie explanation. The practical effect emphasised is that accepted and audited books, without specific defect shown by independent inquiry, prevail over speculative or circumstantial indicia when challenging cash deposits.
Where the assessee's books of account, stock registers and primary records were accepted and not rejected, the article explains that additions treating cash bank deposits as unexplained credits cannot stand absent cogent material displacing the books; the Assessing Officer's reliance on generalized suspicion, timing clusters, third party bank information, survey observations or post facto VAT revisions was held insufficient to rebut the assessee's prima facie explanation. The practical effect emphasised is that accepted and audited books, without specific defect shown by independent inquiry, prevail over speculative or circumstantial indicia when challenging cash deposits.
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