Explore the Supreme Court judgment in the case of Sumati Dayal vs. CIT (Commissioner of Income Tax) and understand whether the apparent can be considered as real. The judgment emphasizes the application of the test of human probabilities and surrounding circumstances in taxation matters. Learn about the key findings of the court, the relevance of the case in assessing income, and the caution against the indiscriminate application of the judgment in various scenarios.
Circular No. 112/23/95-CX The undersigned in directed to enclose copy Notification No. 75/95-CE dt.24.3.95* amending notification No. 1/93-CE dt. 28.2.93 so as to make certain consequential changes on account of the changes in the Central Excise Tariff relating to textiles.
Circular No. 111/22/95-CX The Principal Chief Controller of Accounts, Central Board of Excise and Customs has recently brought to the notice of the Board a case of fraud in payment of Central Excise duty by an assessee in Bombay involving a sum of Rs. 1.44 lakhs. In this case modus operandiadopted by the assessee was to forge the amounts
In some cases the aggrieved party has a right of appeal to the Governing Board/Council of Management against the decision of the Committee.
