CENEX UPDATE - 24.4.2020

CX - Extended period of limitation cannot be invoked where assessee regularly filed ER-1 returns & if no suppression of facts is attributed to assessee as entire facts were known to Revenue: CESTAT ST - Assessee utilised CENVAT credit in advance of the date when it was not entitled to avail the same - matter remanded to calculate interest for differential period: CESTAT ST - Supply of Tangible Goods Service involves transfer of right of possession & effective control on such goods - Leasing of digital cinema equipment not taxable under SOTG: CESTAT Cus - Section 123 (2) of Customs Act requires a person in possession of gold bars having foreign markings, to only prima facie establish proof of licit acquisition & is not require to prove source: CESTAT