Goods Valuation Debate: Section 4 vs. Section 4A for Tax Purposes; No Penalty Due to Lack of Malafide Intent.

Goods Valuation Debate: Section 4 vs. Section 4A for Tax Purposes; No Penalty Due to Lack of Malafide Intent. https://www.taxtmi.com/highlights?id=68367 Levy of penalty - The only dispute is that whether the goods should be valued under Section 4 or Section 4A. The company’s stand was that they were supplying goods to industries therefore, they were under belief that goods should be valued under Section 4 - There are no mala fide intention on the part of these appellants - No penalty - AT en-us Tue, 21 Feb 2023 08:36:44 +0530 Tue, 21 Feb 2023 08:36:44 +0530 TaxTMI RSS Generator Goods Valuation Debate: Section 4 vs. Section 4A for Tax Purposes; No Penalty Due to Lack of Malafide Intent. https://www.taxtmi.com/highlights?id=68367 Levy of penalty - The only dispute is that whether the goods should be valued under Section 4 or Section 4A. The company’s stand was that they were supplying goods to industries therefore, they were under belief that goods should be valued under Section 4 - There are no mala fide intention on the part of these appellants - No penalty - AT Highlights Central Excise Tue, 21 Feb 2023 08:36:44 +0530 https://www.taxtmi.com/highlights?id=68367