Classification of imported salvaged shaft pieces as ship parts confirmed, reassessment time-barred and appeal allowed restoring original classificatio...
Scope of intermediary status for data hosting services: tribunal finds provider not intermediary, services exported and not taxable, limited remand on...
CENVAT credit availability after omission of Rule 12B in textiles confirmed; late addendum to SCN introducing new grounds held time-barred and invalid...
Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
Penalty for furnishing inaccurate particulars was upheld where commission expenditure was found non-genuine, as third-party verification showed the alleged intermediaries had not rendered services and the assessee failed to substantiate the claim. Where penalty had been computed on additions not finally sustained in appeal, it was treated as a mistake apparent from the record and was directed to be recomputed only on the surviving addition. Penalty under section 41(1) for waiver of interest liability was deleted for one year because the assessee's explanation based on a bona fide one-time settlement with banks was accepted, and penalty was not automatic merely because the addition survived.
Penalty for furnishing inaccurate particulars was upheld where commission expenditure was found non-genuine, as third-party verification showed the alleged intermediaries had not rendered services and the assessee failed to substantiate the claim. Where penalty had been computed on additions not finally sustained in appeal, it was treated as a mistake apparent from the record and was directed to be recomputed only on the surviving addition. Penalty under section 41(1) for waiver of interest liability was deleted for one year because the assessee's explanation based on a bona fide one-time settlement with banks was accepted, and penalty was not automatic merely because the addition survived.
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