Reopening Assessments invalid where satisfaction and jurisdictional approval are absent for third party seized material, leading to quashing of assess...
Benami property exclusion from the insolvency estate: Benami Act proceedings preclude IBC tribunals from reopening attachments or treating such assets...
Exclusion of limitation period: pandemic suspension plus debtor acknowledgement can extend limitation, requiring fresh factfinding on guarantee invoca...
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Extended period of limitation under customs and IGST law is available only where suppression, wilful misstatement, collusion or fraud is established. Here, the Tribunal found that the Bill of Entry disclosed the classification, notification number, serial number and applied IGST rate, and treated the dispute as one of interpretation over the applicable IGST rate rather than concealment. It also held the matter revenue neutral because the importer could avail input tax credit of any additional IGST paid. The demand was therefore held time-barred and unsustainable, without examining the merits of the IGST rate.
Extended period of limitation under customs and IGST law is available only where suppression, wilful misstatement, collusion or fraud is established. Here, the Tribunal found that the Bill of Entry disclosed the classification, notification number, serial number and applied IGST rate, and treated the dispute as one of interpretation over the applicable IGST rate rather than concealment. It also held the matter revenue neutral because the importer could avail input tax credit of any additional IGST paid. The demand was therefore held time-barred and unsustainable, without examining the merits of the IGST rate.
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