"14 October 2015" Archive

Rebate of Duty Admissible Both on Inputs i.e raw materials and Final Goods

Spentex Industries Ltd. Vs Commissioner of Central Excise (Supreme Court of India)

Supreme Court of India while interpreting Rule 18 of Central Excise Rules, 2002, which is for rebate of excise duty, has held in the case of Spentex Industries Ltd. Vs. Commissioner of Central Excise that Rebate of Duty is Admissible Both on Inputs i.e raw materials and Final Goods....

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CBDT creates additional benches of DRP at Mumbai & Bengaluru

ORDER NO. 198 OF 2015 13/10/2015

ORDER NO. 198 OF 2015- In order to address the large pendency before DRPs at Mumbai and Bengaluru, the CBDT has decided to create additional Benches i.e. DRP-3 at Mumbai DRP-2 at Bengaluru until further orders. In pursuance of this, the officers post in the charge of CIT (A) mentioned in Col. 3 of the table below are posted as Members of...

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CBDT makes Claiming of medical expenditure for tax purposes easy

ne of the pillars of the of the taxation proposals included in the Finance Minister’s budget speech for 2015-16 was extension of benefits to the middle class. In this process the Finance Minister announced extension of certain benefits in respect of medical treatment under section 80DDB. This section allows a deduction for expenditure i...

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Posted Under: Excise Duty |

Scrutiny assessments of assessees engaged in Mining business

Instruction No. 14/2015 14/10/2015

Instruction No. 14/2015 while scrutinizing the cases of entities engaged in the business of mining, the Annual Returns filed with IBM by the respective assessees should invariably be obtained and compared with the details submitted to the Income-tax Department so as to ascertain whether any suppression of production and discrepancy in sto...

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Service Tax on services provided in relation to remittance of money to India from overseas

Notification No. 19/2015-Service Tax 14/10/2015

Notification No. 19/2015-Service Tax Central Government is satisfied that in the period commencing on and from the 1st day of July, 2012 and ending with the 13th day of October, 2014 (hereinafter referred to as the said period) according to a practice that was generally prevalent, there was non–levy of service tax on the services provi...

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Entire law on whether reopening of assessment in the absence of "fresh tangible material" is permissible reviewed

Motilal R. Todi Vs ACIT (ITAT Mumbai)

a. Assessee had filed return of income on 27-10-2006 u/s 139(1) and original assessment was done by AO u/s 143(3) vide order dated 15.12.2008. b. Subsequently, this case was reopened u/s 147 and AO framed re-assessment order dated 31.12.2012 u/s 143 read with 147 of the Income Tax Act 1961....

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Second proviso to sec.40(a)(ia) of the IT Act is curative and it has retrospective effect w.e.f. 1st April, 2005

Income Tax Officer Vs Shri Bimal Biswas (ITAT Kolkata)

In the case of ITO Vs Bimal Biswas, ITAT of Kolkata set aside the issue to the file of AO and directed the assessee to produce the relevant evidence in respect payees of carriage charges whether they have included the carriage receipts in the respective returns of income and paid taxes on the said income...

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Service tax not applicable on distributors of lottery tickets issued by state govt & charge created by Finance Act, 2015 is unconstitutional

M/s Future Gaming & Hotel Services Private Limited And Others Vs Union of India And Others (Sikkim High Court at Gangtok)

The Hon'ble Sikkim High Court in the case of Future Gaming & Hotel Services Private Limited and others held that activities of distributors & agents selling lottery tickets cannot be considered as activities for facilitating promotion of lottery tickets issued by state government...

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Rebate of Excise duty admissible on both inputs & final products

Spentex Industries Ltd. Vs Commissioner of Central Excise (Supreme Court of india)

Whether the Assessee is eligible to claim rebate of Excise duty paid on inputs used in exported goods as well the Excise duty paid on exported final products under Rule 18 of the Central Excise Rules, 2002 (the Excise Rules)?...

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Posted Under: Excise Duty |

Customs- Introduction of electronic messaging for issue of Delivery Order

Circular No. 24/2015-Customs 14/10/2015

Circular No. 24/2015- Customs Duty As part of Government's initiatives for improving “Ease of Doing Business”, several facilitation measures are being taken by the Central Board of Excise & Customs. After consultation with stakeholders, it has emerged that introduction of electronic messaging for issue of Delivery Order instead of a pap...

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