Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
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Additional input tax credit under GST had accrued to the respondent and was not passed on to homebuyers by commensurate price reduction, as the Tribunal accepted the DGAP's finding that the input tax credit-to-purchase value ratio increased post-GST and the respondent accepted the computation; this amounted to contravention of Section 171. The Tribunal further held that the obligation to pass on the benefit arose at the time of supply, so the profiteered amount had to be refunded with 18% interest from the date of collection of the last instalment until return to the eligible homebuyers. It also held that penalty was leviable under Section 171(3A), subject to the statutory proviso on deposit within thirty days.
Additional input tax credit under GST had accrued to the respondent and was not passed on to homebuyers by commensurate price reduction, as the Tribunal accepted the DGAP's finding that the input tax credit-to-purchase value ratio increased post-GST and the respondent accepted the computation; this amounted to contravention of Section 171. The Tribunal further held that the obligation to pass on the benefit arose at the time of supply, so the profiteered amount had to be refunded with 18% interest from the date of collection of the last instalment until return to the eligible homebuyers. It also held that penalty was leviable under Section 171(3A), subject to the statutory proviso on deposit within thirty days.
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