Non completion of the proceedings within the prescribed period of limitation of one year - validity of assessment pursuant to the statutory proceedings provided under Sections 32 and 33 of the DVAT Act. HELD THAT:- Notice was issued to the respondents in the writ petition and the matter was directed to be listed for further hearing.... ... ...

Limitation for recovery of interest on delayed service tax payment - Interest demand incidental to principal service tax liability - Extended limitation for delayed service tax payment - HELD THAT: - Interest on delayed payment under section 75 is incidental to the principal service tax liability and is not an independent levy. Where no specific limitation is prescribed for recovery of interest, the power must be exercised within a reasonable period; consequently, the limitation applicable to... ... ...

Calculation of export duty liability - Declared FOB to be considered as cum-duty price or not - re-determination of duty liability - HELD THAT:- Appellant submits that the same issue has already been considered and decided by this Bench in their own Appeal [2025 (8) TMI 1306 - CESTAT HYDERABAD] and the Tribunal dismissed the appeal of the appellant. The Learned Advocate, is therefore, not further arguing on this issue. Appeal dismissed.... ... ...

FOB value as cum-duty price for export duty - Treatment of the FOB value of exported iron ore as a cum-duty price for assessment of export duty - HELD THAT: - The FOB price represents the price actually paid or payable for the exported goods. Under the statutory valuation scheme, the assessable value cannot be reduced by extending the benefit of cum-duty valuation to the FOB value. We find that in the case of Sesa Goa Ltd., [2018 (3) TMI 1884 - CESTAT MUMBAI] interalia, held that the FOB pric... ... ...

Unexplained money u/s 69A - personal loan - Proof of identity, genuineness and creditworthiness of lender Addition as unexplained money in respect of a personal loan received through banking channels, despite proof of the lender's identity, transaction genuineness and creditworthiness - HELD THAT: - The assessee furnished the lender's confirmation, tax identification details, bank-transfer particulars and GST return. These materials established the lender's identity, the genuinene... ... ...

Educational institution exemption under section 10(23C)(iiiad) - Validity of belated return in response to notice under section 142(1) - Cash deposits in specified bank notes during demonetisation - Unexplained money under section 69A Entitlement of an educational society to exemption under section 10(23C)(iiiad) despite non-filing of a return within the prescribed time and delayed filing in response to notice under section 142(1) - HELD THAT: - Section 139(4C)(e), as applicable for the relev... ... ...

Penalty u/s 271C - non-deposit of TDS already deducted to the credit of the Central Government - HELD THAT: - Section 271C penalises failure to deduct tax at source and does not extend to non-payment or belated remittance of tax already deducted. The statutory consequences for non-payment or delayed remittance of deducted TDS are separately provided for under the Act. Hon'ble Apex Court in the case of US Technologies International Pvt. Ltd. [2023 (4) TMI 418 - SUPREME COURT] had analysed the ... ... ...

Cash repayment of loans and deposits - pre-amendment scope of section 269T - Penalty for alleged cash repayment in contravention of section 269T Applicability of section 269T and consequential penalty for payments made through running accounts with group concerns during AY 1992-93 - HELD THAT: - Payments to one concern were against purchase bills, while payments to another concern were made despite its debit balance arising from sales; neither constituted repayment of a loan. Though the runni... ... ...

Deduction of employees' provident fund contribution - COVID-19 lockdown-related delay in provident fund remittance Deductibility of employees' provident fund contributions remitted after the prescribed due dates for April and May 2020 during the COVID-19 lockdown, where the EPFO waived penal damages - HELD THAT: - Though delayed remittance of employees' contribution was ordinarily governed by Checkmate Services Pvt Ltd [2022 (10) TMI 617 - SUPREME COURT (LB)] the Tribunal followed... ... ...

TP Adjustment - Comparable uncontrolled price method for technical know-how royalty - Interest on outstanding receivables from associated enterprises - Working capital adjustment - Interest for defaults in filing return and payment of advance tax Comparable uncontrolled price method for technical know-how royalty - Arm's length price of royalty paid for a non-exclusive technical know-how licence for manufacturing automotive components - HELD THAT: - The transaction benchmarked was payment... ... ...

Best judgment assessment - estimation of business income - Income estimation from bank deposits - Sustainability of estimation of business income from net bank deposits where the assessee neither filed its return nor produced books or other material substantiating its income - HELD THAT: - The assessee failed to comply with the statutory requirements of maintaining books and filing returns. Apart from past profitability trends, which were themselves inconsistent and included both profits and ... ... ...

Unexplained cash credits - family loans through banking channels - Cash credits received in earlier years - Deductibility of salary expenses in professional practice Unexplained cash credits - loans from family members - Credits received in earlier years - Sustainability of the addition for unsecured loans from the assessee's mother, father, father's HUF and assessee's HUF as unexplained cash credits for A.Y. 2018-19 - HELD THAT: - The Tribunal found that the mother's identity... ... ...

Unexplained cash credits - loans from lenders - discharge of onus - identity, genuineness and creditworthiness of lenders - HELD THAT: - The additional evidence, considered in the remand proceedings, established the identity of the lenders, genuineness of the loan transactions and their creditworthiness. As the Assessing Officer recorded no adverse finding on those aspects, repayment of the loans within a short period was held to be of no consequence. [Paras 4] The deletion of the addition... ... ...

Unexplained money - cash deposits during demonetisation - Onus to explain source of cash deposits HELD THAT: - The assessee substantiated the source of the deposits through books of account and VAT returns reflecting the sales, neither of which was rejected or found infirm. The explanations for the variations in cash sales, deposits and cash balances were supported by the records and remained uncontroverted. The addition, founded only on assumptions and presumptions despite the accepted recor... ... ...

Validity of reassessment notice issued before communication of statutory sanction HELD THAT: - The Tribunal held that a reassessment notice can be issued only after the reasons recorded by the Assessing Officer have been approved by the competent authority and that approval has been communicated to the AO. Since the notice was issued before the sanction, though accorded, was conveyed to the Assessing Officer, the reopening was invalid. [Paras 5, 6] The reopening and consequential assessmen... ... ...

TP Adjustment - Arm's length price of royalty payments - Allocation of residual corporate expenses for profit-linked deduction - Natural justice in book-profit adjustments AMP expenditure as international transaction - TP adjustment for advertisement, marketing and promotion expenditure, including the existence of an arrangement with associated enterprises and benefit accruing to them - HELD THAT: - The Tribunal noted that the controversy concerning AMP expenditure remained unsettled beca... ... ...

Time-barred reassessment notice - Assessment Year 2015-16 - Validity of reassessment proceedings initiated by notice under Section 148 for Assessment Year 2015-16 after expiry of limitation HELD THAT: - The impugned reassessment notice for Assessment Year 2015-16 was issued beyond the permissible period of limitation. Applying the position previously held by the Court in the case of Mohammed Yaseen [2025 (6) TMI 1061 - KARNATAKA HIGH COURT], the notice was held to be time-barred, and the cons... ... ...

Cash sales during demonetisation - addition based on suspicion Addition in respect of cash sales disclosed by a gold and silver jewellery trader during demonetisation - HELD THAT: - The appellate authorities had concurrently found that the cash sales were supported by sale invoices recorded in the books, the stock register, and returns filed under the UP VAT Act, 2008. No adverse material was found to disbelieve the explanation. Suspicion, in the absence of supporting evidence, could not sust... ... ...

Non-service of hearing notice - denial of Opportunity of hearing - Validity of the Orders-in-Original where notices of hearing were not served upon the writ petitioners - HELD THAT: - The respondent acknowledged that no e-mail communications had been sent and that the Speed Post notices did not appear to have been served in time. The resulting denial of an opportunity of hearing warranted fresh proceedings. [Paras 2, 3] The Orders-in-Original were quashed and the matter was remitted for fr... ... ...

Cancellation of registration for continuous non-filing of returns - Opportunity to remedy default in furnishing returns - Cancellation of registration for failure to furnish returns continuously for six months-entitlement to an opportunity to remedy the default - HELD THAT: - Applying the Division Bench ruling in SUBHANKAR GOLDER [2024 (5) TMI 1262 - CALCUTTA HIGH COURT] that an assessee whose registration is cancelled for continuous non-filing of returns may be afforded an opportunity to cur... ... ...