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...
Duty drawback was held taxable on actual receipt in the previous year, as section 145B(3), read with section 2(24)(xviii), deems such income to accrue when received by the assessee. The Tribunal found that the assessee's bank records reflected only the amount credited in the profit and loss account, while the AO relied on unconfronted CBEC portal data without furnishing supporting details or independent proof of higher receipt. The differential addition was therefore deleted. As the penalty under section 270A(1) was wholly consequential to the deleted addition and no misreporting survived, the penalty was also set aside.
Duty drawback was held taxable on actual receipt in the previous year, as section 145B(3), read with section 2(24)(xviii), deems such income to accrue when received by the assessee. The Tribunal found that the assessee's bank records reflected only the amount credited in the profit and loss account, while the AO relied on unconfronted CBEC portal data without furnishing supporting details or independent proof of higher receipt. The differential addition was therefore deleted. As the penalty under section 270A(1) was wholly consequential to the deleted addition and no misreporting survived, the penalty was also set aside.
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