Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
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An adjudication order confirming a demand under a show cause notice cannot stand where the authority fails to consider the taxpayer's replies and gives no cogent reasons for rejection. The High Court found complete non-application of mind because the order relied on an unexplained assumption that the matter was sub judice on merits, did not identify the supplies treated as taxable or tax-free after considering the circulars cited, and omitted discussion of all replies. The impugned order was quashed, with liberty to proceed afresh on the notice after considering all replies and granting a fresh hearing.
An adjudication order confirming a demand under a show cause notice cannot stand where the authority fails to consider the taxpayer's replies and gives no cogent reasons for rejection. The High Court found complete non-application of mind because the order relied on an unexplained assumption that the matter was sub judice on merits, did not identify the supplies treated as taxable or tax-free after considering the circulars cited, and omitted discussion of all replies. The impugned order was quashed, with liberty to proceed afresh on the notice after considering all replies and granting a fresh hearing.
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