Denying benefit under VCES based on audit report not justified: Delhi HC

Principal Commissioner Vs Federal Mogul Goetze India Limited & Anr. (Delhi High Court) Delhi High Court held that an audit report cannot be regarded as an order of determination under section 72, 73 or 73A of the Finance Act, 1994 hence benefit under Voluntary Compliance Encouragement Scheme (VCES) cannot be deprived. Facts- Revenue has preferred the present appeal. Notably, the controversy in the present appeal relates to the respondent’s application under the Voluntary Compliance Encouragement Scheme, which was introduced by virtue of Chapter VI of the Finance Act, 2013. The Designated...