Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Service tax demand confirmed solely on the basis of CBDT/Form 26AS and income tax return data was held unsustainable because the Revenue made no independent verification, enquiry, or corroborative proof of taxable services. Mere comparison of returns could not by itself establish liability under the Finance Act, 1994. The extended period of limitation was also held inapplicable because suppression with intent to evade was not proved on the facts, and departmental correspondence did not amount to such suppression. As the demand failed on evidence and limitation, the consequential interest and penalty were also set aside.
Service tax demand confirmed solely on the basis of CBDT/Form 26AS and income tax return data was held unsustainable because the Revenue made no independent verification, enquiry, or corroborative proof of taxable services. Mere comparison of returns could not by itself establish liability under the Finance Act, 1994. The extended period of limitation was also held inapplicable because suppression with intent to evade was not proved on the facts, and departmental correspondence did not amount to such suppression. As the demand failed on evidence and limitation, the consequential interest and penalty were also set aside.
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