Market value of land acquired for Upper Tunga Project - Parity in compensation for similarly situated acquired lands Enhancement of compensation for lands in Basavanagangur village acquired for the Upper Tunga Project - HELD THAT: - The appellants' lands were similarly situated to the lands considered by the co-ordinate Bench, being lands in the same village acquired for the same project. The appeals were consequently disposed of in terms of that determination. [Paras 8] Compensation w... ... ...

Condonation of delay in land acquisition compensation appeal - Parity in compensation for similarly situated acquired lands Condonation of delay in pursuing enhanced compensation for land acquired for the Upper Tunga canal - HELD THAT: - In land acquisition matters, delay cannot by itself deprive a landowner of fair compensation; the question must be assessed on the facts and with due regard to equity and the right to property. The appellant's circumstances, including financial distress a... ... ...

Interest u/s 28 as enhanced compensation - Tax deduction at source on enhanced compensation - Deduction of tax at source from enhanced compensation payable for compulsorily acquired land, including interest under Section 28 of the Land Acquisition Act, 1894 - HELD THAT: - Commissioner of Income Tax, Faridabad Vs. Ghanshyam (HUF) holds that interest under Section 28 is an accretion to the value of land and forms part of enhanced compensation, unlike interest under Section 34, which is for delayed... ... ...

Admissibility of CENVAT credit on capital goods procured through a contractor - Capital goods incorporated in an immovable captive plant - Admissibility of CENVAT credit on duty-paid capital goods purchased by an EPC contractor, received in the manufacturer's factory as consignee, and used for installation of a captive cogeneration plant HELD THAT: - The qualifying capital goods were received in the factory under invoices showing the appellant as consignee and were used for installation o... ... ...

CENVAT credit on capital goods - clearance as waste and scrap - Whether waste and scrap of capital goods, on which CENVAT credit stood availed, is liable to central excise duty upon its clearance, notwithstanding the appellant's plea that such scrap is not covered under any specific tariff entry and does not emerge from any process of manufacture undertaken by the appellant? - HELD THAT: - Rule 3(5A) creates a self-contained statutory obligation requiring payment equal to the duty leviabl... ... ...

Taxability of erection services prior to 10 September 2004 - Extended period of limitation - absence of suppression Taxability of erection services prior to 10 September 2004 - Service-tax liability on receipts for erection work performed before 10 September 2004 - HELD THAT: - Erection service was brought within the service-tax net only from 10 September 2004. The Board circular and the exemption notification clarified that erection services rendered before that date were not taxable. The de... ... ...

Wet leasing of CNG compressor equipment-supply of tangible goods service - Extended limitation for service tax on wet lease transactions - Merger of rectification order with original adjudication order Wet leasing of CNG compressor equipment-supply of tangible goods service - Transfer of right to use goods - Taxability of wet leasing of CNG compressors and related equipment as supply of tangible goods service rather than a transfer of the right to use goods - HELD THAT: - Under the wet lease ... ... ...

Best-judgment assessment based on actual records - Taxability of exempt, non-taxable and reimbursable receipts - Export and SEZ service exemption verification - CENVAT credit adjustment - Extended limitation for suppression - Duplicative service tax demand Best-judgment assessment based on actual records - Best-judgment assessment of the taxable value of security agency services by assumed growth, pro-rata enhancement or adoption of an earlier peak turnover - HELD THAT: - Best-judgment assess... ... ...

Works contract service - repair and maintenance involving transfer of goods - Supply of electricity - sale of goods Works contract service - repair and maintenance involving transfer of goods - Service-tax abatement on composite maintenance contracts - Classification of the composite maintenance, repair and upkeep services rendered to residents as works contract service, and entitlement to the corresponding abatement - HELD THAT: - The assessee established through purchase records, invoices a... ... ...

Bank's power to freeze customer accounts - Enhanced due diligence under anti-money-laundering law Validity of the Bank's unilateral freezing of the petitioners' current accounts on suspicion arising from transaction volume - HELD THAT: - A bank is a custodian of funds and not an investigating agency. Upon noticing suspicious transactions, it may report the matter to the competent investigating agency, but it cannot unilaterally freeze a customer's account without statutory aut... ... ...

Maintainability of writ petition against provisional attachment under the PMLA - Efficacious alternative remedy - Maintainability of a writ petition challenging a provisional attachment order and consequential proceedings under the PMLA while adjudication before the Adjudicating Authority is pending - HELD THAT: - The PMLA establishes a complete adjudicatory hierarchy under which the Adjudicating Authority initially examines the legality of provisional attachment after hearing the affected perso... ... ...

Approved insolvency resolution plan - waiver of indirect tax liabilities - Applicability of the approved insolvency resolution plan to GST liabilities for the period subsequent to 01.04.2022 HELD THAT: - The tax-dues waiver contemplated by the resolution plan did not extend to the period subsequent to 01.04.2022. The Supreme Court decision Ghashyam Mishra and Sons Private Limited v. Edelweiss Asset Reconstruction Company Limited [2021 (4) TMI 613 - SUPREME COURT] cited by the petitioner was h... ... ...

Territorial jurisdiction under Article 226(2) - Forum conveniens in writ jurisdiction Territorial jurisdiction to challenge an investigation order concerning companies having their registered offices and records in Mumbai - HELD THAT: - The mere fact that the Ministry of Corporate Affairs issued the investigation order from Delhi, or that an SFIO officer at its Delhi headquarters filed an affidavit, did not establish a substantial nexus with Delhi. Although Article 226(2) permits exercise of ... ... ...

Classification of mixed-fibre polyester warp knitted fabrics - Burden of proof in customs reclassification - Finality of accepted customs assessment Classification of "Mixed Lot of Polyester Warp Knitted Fabrics" under Customs Tariff Item 6005 9000, as against reclassification under the tariff entries applicable to synthetic-fibre warp knitted fabrics, and consequential eligibility for concessional duty - HELD THAT: - The burden to establish that the declared classification was incorrect lay ... ... ...

Belated recovery of drawback for non-realisation of export proceeds - Reasonable time for statutory recovery proceedings - Recovery of drawback availed on garment exports, on the allegation of non-production of proof of realisation of export proceeds, after an inordinate and unexplained delay HELD THAT: - It is a settled principle of law that fraud vitiates all solemn acts and that a person cannot be permitted to take advantage of his own fraud, irrespective of the passage of time. In the ... ... ...

Challenge to show cause notice - Exercise of writ jurisdiction against a show cause notice concerning classification of imported LCD monitors and invocation of the extended period of limitation HELD THAT: - The identity of the imported goods with those considered in the earlier Division Bench decision M/S. VIEWSONIC TECHNOLOGIES INDIA PRIVATE LIMITED [2024 (8) TMI 1761 - MADRAS HIGH COURT] and the questions whether there was misdeclaration or suppression warranting invocation of the extended ... ... ...

Taxability of interest on enhanced compensation for compulsorily acquired agricultural land - Rectification jurisdiction and binding jurisdictional precedent - Statutory deduction from interest on enhanced compensation Taxability of interest on enhanced compensation for compulsorily acquired agricultural land - Rectification jurisdiction and binding jurisdictional precedent - HELD THAT: - The jurisdictional High Court in Manjit Singh Narang [2015 (12) TMI 1123 - PUNJAB & HARYANA HIGH COURT] h... ... ...

Characterisation of trade discount reflected as commission in Form 26AS - trade discount earned on purchase and sale of BSNL recharge vouchers v/s commission income - Taxability of the difference between BSNL receipts reflected in Form 26AS and commission income offered, where the difference was claimed as trade discount on recharge vouchers - HELD THAT: - The character of a receipt must be determined from the real nature of the underlying transaction and not merely from its description in the d... ... ...

Revision u/s 263 - erroneous and prejudicial assessment - Business loss on sale of non-performing assets - Judicial discipline and binding precedent Validity of revision of the scrutiny assessment on the ground that loss on sale of non-performing assets by a co-operative bank was capital loss rather than allowable business loss - HELD THAT: - Exercise of revisionary jurisdiction requires the coexistence of error in the assessment order and prejudice to the interests of the Revenue. An assessm... ... ...

Allowance of expenditure disallowed for TDS default in an earlier year - Separate appellate remedy against return-processing adjustment - Exemption for notified entities under section 10(46) Allowance of expenditure disallowed for TDS default in an earlier year - Allowance of the balance annuity expenditure claimed through a revised computation for AY 2018-19 on the basis of an alleged disallowance in the preceding year - HELD THAT: - The computation for the preceding assessment year did not ... ... ...