Power bank definition limits the customs-duty exclusion, preserving concessional treatment for stationary, grid-scale and industrial battery storage s...
Packing-material input credits support inverted-duty refunds for packaged tea, while rate-reduction and concessional-supply circulars remain inapplica...
Section 35(6) requires unaccounted tobacco stock found during a business-premises survey to be treated as supplied and subjected to tax determination under the prescribed statutory procedure. Direct confiscation proceedings cannot be used to impose tax, penalty and fine solely because excess or unaccounted stock is found; proceedings must instead be initiated under section 73 or 74. On that basis, the first appellate orders setting aside confiscation-based tax, penalty and fine were upheld, and the revenue appeals were dismissed.
Section 35(6) requires unaccounted tobacco stock found during a business-premises survey to be treated as supplied and subjected to tax determination under the prescribed statutory procedure. Direct confiscation proceedings cannot be used to impose tax, penalty and fine solely because excess or unaccounted stock is found; proceedings must instead be initiated under section 73 or 74. On that basis, the first appellate orders setting aside confiscation-based tax, penalty and fine were upheld, and the revenue appeals were dismissed.
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TaxTMI 
TaxTMI 
