Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Prior to the amendment of section 3(12) of the Customs Tariff Act effective from 16.08.2024, the Customs Act provisions on interest, offences and penalties did not apply to IGST leviable under section 3(7). Applying the Bombay HC rulings in A.R. Sulphonates and Mahindra & Mahindra, the Tribunal held that interest, redemption fine and penalty for the period governed by the unamended provision were without authority of law. The impugned order was therefore set aside to that extent. The confirmation and recovery of IGST itself was not disturbed and was upheld.
Prior to the amendment of section 3(12) of the Customs Tariff Act effective from 16.08.2024, the Customs Act provisions on interest, offences and penalties did not apply to IGST leviable under section 3(7). Applying the Bombay HC rulings in A.R. Sulphonates and Mahindra & Mahindra, the Tribunal held that interest, redemption fine and penalty for the period governed by the unamended provision were without authority of law. The impugned order was therefore set aside to that extent. The confirmation and recovery of IGST itself was not disturbed and was upheld.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
