"27 June 2018" Archive

Deduction U/s. 54 despite non completion of Flat Construction by developer

Asstt. CIT Vs M. Raghuraman (ITAT Chennai)

This appeal of the revenue is directed against the order of the Commissioner (Appeals)-9, Chennai, dated 30-5-2017 and pertains to assessment year 2013-14....

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Corpus specific voluntary contributions received by trust not registered U/s. 12A/12AA not taxable

ITO Vs Serum Institute of India Research Foundation (ITAT Pune)

ITO (Exemptions) Vs Serum Institute of India Research Foundation (ITAT Pune) Corpus donations received by the Trusts, which is not registered u/s.12A/12AA of the Act, are not taxable as they assume the nature of ‘Capital receipt’ the moment the donations are given to the “Corpus of the Trust”. Provisions of section (24)(iia)/12(1)...

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Contracts awarded by MMRDA do not qualify for exemption under N/No. 21/2002-Cus.

Commissioner of Customs (I) Vs M/s Mahavir Roads & Infrastructure Pvt. Ltd. (CESTAT Mumbai)

Learned AR argued that Commissioner (Appeals) has wrongly interpreted Notification No. 21/2002 by construing that Mumbai Metropolitan Regional Development Authority (MMRDA) is a road construction corporation under the control of the State Government....

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Custom Broker Licence cannot be refused merely for penalization U/s. 114 of Customs Act, 1962

M/s Global Marine Agencies Vs CC (Prev.) (CESTAT Delhi)

The appellant has a Custom Broker Licence. The Commissioner of Customs, Jodhpur by issue of the impugned order, rejected the application dated 26.02.2015 filed for renewal of their Customs Broker Licence....

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Goods Transport Agency under GST- Brief Study

Before starting our discussion on Goods Transport Agency (GTA), Let’s first understand that who is a GTA under GST. Well, the answer to this question is given in Para 2 of N/NO. 12/2017 CT(R) and N/NO. 9/2017 IT(R) dated 28/6/2017, and as per the above said notification GTA means any person who provides services in […]...

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Posted Under: Income Tax |

Abolish IGST, intra-state E-way bill & bring real estate under GST

The Centre should abolish IGST and E-way bill to make the Goods and Services Tax more effective, deputy chief minister and finance minister of Delhi government, Mr Manish Sisodia said at an ASSOCHAM event held in New Delhi today....

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Posted Under: Income Tax |

ICRISAT Eligible for Excise Duty refund on petroleum products procured by them

Commissioner of Central Tax Vs ICRISAT (CESTAT Hyderabad)

On perusal of records, it transpires that the issue is regarding refund of Central Excise duty paid on various petroleum products which are consumed by the respondent whether it can be refunded or otherwise....

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Excise duty not payable on fatty acid / soap stock generated as bye-product during manufacture of refined palm oil

M/s. Sri Devi Oil Pvt. Ltd. Vs CCE (CESTAT Chennai)

Brief facts are that the appellants are manufacturers of Refined Palm Oil and are registered with the Central Excise Department. Show cause notice was issued alleging that they have cleared fatty acid or soap stock without payment of duty....

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Cenvat Credit eligible on sales commission paid to promote Sale

Beloorbayir Biotech Limited Vs Commissioner Of Central Tax (CESTAT Bangalore)

The present appeal is directed against the impugned order dated 13.10.2017 passed by the Commissioner (A) whereby the Commissioner (A) has rejected the appeal of the appellant....

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Deduction on children’s education u/s. 80C & 80E

Articles deal with provisions of deduction Under Section 80C on Tuition Fees Paid for children's education and Under Section 80E on Interest paid on Education loan. The deduction on payments made towards tuition fee can be claimed up to Rs. 1,50,000/- from A.Y. 2015-16, together with deduction in respect of insurance, provident fund and ...

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Posted Under: Income Tax | ,

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