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"August, 2015" Archive - Page 3

Ownership of Capital goods not required for availing CENVAT credit

Commissioner of Central Excise Vs M/s. Modernova Plastyles Pvt. Ltd. (Bombay High Court)

The assessee is engaged in manufacture of plastic articles/components and parts by using injection moulding machines. In the present matter the moulds, used to manufacture, in this case cabinets for television sets­ the finished product...

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Appeal for determination of any question in relation to rate of duty or to value of goods for assessment would lie before Apex Court – HC

M/s. Greatship (India) Ltd. Vs Commissioner of Service Tax (Bombay High Court)

The Hon’ble Court is of the view that the present appeal does not involve an issue regarding the rate of duty in as much as even the assessee does not dispute the rate of duty i.e. payable for the services rendered. ...

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Issuance of Show cause notice mandatory for recovery of erroneous refund granted

The Commissioner of Central Excise Coimbatore Vs M/s. Pricol Ltd. Perinaickenpalayam Coimbatore 641 103 (Madras High Court)

The assessee is engaged in the manufacture of automobile parts and components. The assessee cleared waste and scrap and replacement of defective products without payment of duty. The period in question pertains to September, 1998....

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CENVAT credit of inputs lost during manufacturing process as floor sweepings is allowed- CESTAT

C.C.E. & S.T. Raipur Vs M/s. Cadbury India Ltd. (CESTAT Delhi)

The facts of the case are that assessee is a manufacturer of chocolates and coco products. During the course of the manufacturing final product certain floor spillage and sweeping arises which assessee is destroying. ...

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Service tax cannot be levied on Job work that amounts to manufacture – CESTAT

Alkyl Amines Chemicals Ltd. Vs Commissioner of Central Excise (Cestat Judgment)

The appellants manufacture excisable goods falling under Chapter 29 of Central Excise Tariff Act, 1985. On scrutiny of the records, departmental officers noticed that during the period 10/09/2004 to 28/02/2005 appellant had received some amount towards job-work charges and processing charges. ...

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A Much Awaited Indirect Tax Regime Called GST

There was continuous emphasis on bringing Goods & Services Tax (GST) that is already running in more than 140 countries. This is an indirect tax and seeks to end the multiple effects of taxes and incorporates indirect taxes like entertainment tax, CST, excise, service tax, VAT, luxury tax, octroi etc. ...

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Posted Under: Excise Duty |

Donor’s Identity, Relationship & Occasion of Gift are essential to prove genuineness of Gift

Shri L. Syed Ibrahim Bahadusha Vs I.T.O (ITAT Bangalore)

A sum of Rs.7 lakhs, shown to have been received as gift from Shri Jamaluddin Sheik Fareed, was treated as unexplained cash credit in the hands of the assessee on the ground that the assessee has not furnished confirmation letter from the party....

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8 Most Difficult Jobs in the World

Each person makes a contribution to the society. Some get paid while some don't. Such contribution can be through a profession, job, or business. Even leading a county's governance is a job. Managing one's home and any social service is not reckoned here as they are of special nature and invaluable as well. ...

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Posted Under: Excise Duty |

Expenses related with improvement in operations of existing business product line is revenue expense

CIT Vs M/s Southern Petrochemicals Industries Corporation Ltd (Madras High Court)

Madras High Court in the case of CIT Vs M/s Southern Petrochemicals Industries Corporation Ltd held that market research expense incurred to increase the efficiency of the existing business product line, the same should be treated as revenue expense. ...

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Only operational income related with main business activity of assessee will qualify for deduction u/s 80HHC

CIT Vs Funskool (I) Ltd (Madras High Court)

Madras High Court held in CIT Vs Funskool (I) Ltd (Madras High Court) that for calculating the cost of the finished product the process of designing or stickering which had been used to design or give a final look to the finished product ...

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