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...
Section 270A requires a prior determination of under reporting or misreporting of income before levy of penalty because the penalty is an additional tax dependent on basic tax liability; confirming penalty while a quantum appeal against a disallowance remained undecided was held impermissible as it adjudicated additional tax prematurely and infringed natural justice. The impugned penalty confirmation was quashed and the matter remitted for disposal of the quantum appeal first, after which penalty may be considered in accordance with law.
Section 270A requires a prior determination of under reporting or misreporting of income before levy of penalty because the penalty is an additional tax dependent on basic tax liability; confirming penalty while a quantum appeal against a disallowance remained undecided was held impermissible as it adjudicated additional tax prematurely and infringed natural justice. The impugned penalty confirmation was quashed and the matter remitted for disposal of the quantum appeal first, after which penalty may be considered in accordance with law.
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