In the case of CCE V/s Hindustan Coca Cola Beverages Pvt. Ltd. it was held by Goa High Court held that the any expenditure incurred in the manufacturing activity would be entitled for credit facility and hence the expenses of mobile phones incurred in connection with manufacturing process shall be allowed.
In the case of Commissioner of Central Excise V/s M/s. Sunrise Zinc Ltd. it has been held by Goa High Court held that where non-payment of duty is not with an intent to evade of payment then there can be no occasion to impose penalty under Section 11AC of the Central Excise Act.
My this article particularly talks about what is the procedure and mechanism for assessing the value of the duty and what is the rate of the duty that shall be applied. Further it explains the Cases where the organization or the assessee can ask for remission, abatement for specific goods and exemptions from paying the duty.
In the case of CCE V/s M/s. Essel Propack Ltd. it was held that Rule 9 is a procedural aspect which cannot deny the claim of the respondents to avail of such CENVAT Credit which they are, otherwise, admittedly, entitled to and hence CENVAT credit is allowed on the basis of TR-6 challan.
Delhi High Court In the case of Mool Chand Khairati Ram Trust vs DIT (Exemptions) held that Assessee would not be entitled to exemption under Section 11 of the IT Act if its activities are outside the scope of its objects, even if its activities are charitable in nature.
In the case of CIT Vs. MGF Automobiles Ltd., Delhi High Court upheld the order of the ITAT that the additions could have been made by the AO only if some incriminating document was found during search.
The issue of “One Rank One Pension” (OROP) has been pending for nearly four decades. It is a matter of deep anguish that the various governments remained ambivalent on the issue of OROP. In February 2014, the then Government stated that OROP would be implemented in 2014-15
The Committee, after deliberations, decided that IBA shall write to member banks requesting to consider Cost Accountants / Firms of Cost Accountants for Stock Audit, Risk Based Internal Audit and Other Operations.
The Article covers notes for CA FInal Students appearing for November 2015 examination and are also useful for others. Articles Covers the topic 1. Audit Report 2. Cost audit 3. CARO and amendment in Professional Ethics related regulations.
Corporate Social Responsibility or CSR is a known name in the new ERA of corporate culture where now-a-days every company is trying to get a name in the list of socially responsible entities. Every penny spend on towards CSR activities plays an important role from the angle of Companies Act, 2013 as well as Income Tax Act, 1961.
