"11 October 2014" Archive

Distribution of Cenvat credit by Zonal office to branches cannot be denied merely because it did not obtain Service tax registration

Punjab National Bank Vs. Commissioner of Central Excise (CESTAT Delhi)

Punjab National Bank (the Appellant or PNB) is the Zonal Audit Office at Meerut of the Punjab National Bank. The Appellant applied and obtained Service tax registration for providing banking and financial services on October 30, 2004....

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Posted Under: Excise Duty |

Interest allowable on refund of pre-deposit

We are sharing with you an important judgment of Hon’ble Delhi High Court in the case of Afcons Infrastructure Ltd. Vs. Union of India [(2014) 49 taxmann.com 79 (Delhi)] on the following issue: Issue: Whether communication of appellate order to the Commissioner would amount to communication to the Adjudicating Authority while determinin...

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Posted Under: Excise Duty |

Sec. 269SS not violated in accepting share application money or deposit in cash

M/s Eqbal Inn & Hotels Ltd. Vs The JCIT (ITAT Chandigarh)

Share Application Money or deposit in the current account cannot be included in the definition of deposit so as to trigger provisions of sec 269SS of the Income Tax Act,1961. Brief facts of the case were that the assessee company was in the business of construct ion of the hotel....

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DVAT Dealers- Last chance to revise annexure 2A and 2B for FY 2012-13

The problems with mismatch in annexures 2A and 2B are very common with respect to filing of vat returns under the Delhi VAT Act. A small typographical mistake in entering the TIN gives rise to demands due to mismatch in annexures 2A and 2B of the selling as well as the purchasing dealers....

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Posted Under: Excise Duty |

Process of approval of Directors report & Financial Statements

Process of approval of Directors report & Financial Statements (FS) : MGT 14 can be filled by 20th Oct, if Board meeting held on 21st September & shorter notice for Annual General Meeting (AGM) is been served on Shareholders...

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Service Tax assessees, will continue to be mapped in ACES to existing location codes

Although the reorganization of formations under CBEC will take effect from 15th October 2014, to avoid inconvenience to the existing Central Excise and Service Tax assessees, they will continue to be mapped in ACES to the existing location codes (Commissionerate, Division and Range). Applicants for new registration can also apply to the e...

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Posted Under: Excise Duty |

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