https://www.taxtmi.com/caselaws?id=339855 The Tribunal set aside the order demanding duty, interest, and penalty based on income surrendered during an income tax survey for an appellant engaged in manufacturing auto components. The Revenue alleged clandestine removal of goods without duty payment, presuming the surrendered income as profit from the manufacturing business. The Tribunal emphasized the lack of evidence linking the surrendered income to unaccounted manufacturing activities, citing precedents that voluntary disclosure of income requires proof for taxation. The appeal was allowed, highlighting the necessity of cogent evidence to support duty demands under the Central Excise Act. en-us Tue, 24 Jan 2017 00:00:00 +0530 Wed, 08 Mar 2017 07:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339855 The Tribunal set aside the order demanding duty, interest, and penalty based on income surrendered during an income tax survey for an appellant engaged in manufacturing auto components. The Revenue alleged clandestine removal of goods without duty payment, presuming the surrendered income as profit from the manufacturing business. The Tribunal emphasized the lack of evidence linking the surrendered income to unaccounted manufacturing activities, citing precedents that voluntary disclosure of income requires proof for taxation. The appeal was allowed, highlighting the necessity of cogent evidence to support duty demands under the Central Excise Act. Case-Laws Central Excise Tue, 24 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339855