Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
CESTAT held that para 3.16.2 of the Foreign Trade Policy bars SHIS only where the status holder has availed TUFS for exports made in the same year. The appellant had not claimed SHIS on the basis of its own exports; it was only a transferee holder of SHIS scrips originally issued to others, and it used those scrips later for duty payment on imported capital goods. The Tribunal also held that Notification No. 104/2009-Cus permitted drawback or Cenvat credit of additional duty debited in the scrip, and no bar applied to a transferee holder. The demand of wrongly availed Cenvat credit, interest and penalty was set aside.
CESTAT held that para 3.16.2 of the Foreign Trade Policy bars SHIS only where the status holder has availed TUFS for exports made in the same year. The appellant had not claimed SHIS on the basis of its own exports; it was only a transferee holder of SHIS scrips originally issued to others, and it used those scrips later for duty payment on imported capital goods. The Tribunal also held that Notification No. 104/2009-Cus permitted drawback or Cenvat credit of additional duty debited in the scrip, and no bar applied to a transferee holder. The demand of wrongly availed Cenvat credit, interest and penalty was set aside.
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