"03 March 2020" Archive

Cenvat Credit cannot be denied on assumptions of fraudulent intention

Commissioner of Central Excise Vs Welspun Corporation Ltd. (Punjab and Haryana HC)

More-so, when clearance and supply of dutiable goods is accepted and there is no denial to the fact that a purchase order existed for supply of dutiable goods, on mere assumptions the intention cannot be determined or it can be concluded that the conduct was fraudulent....

Depreciation allowed on License/registration fee paid to Indian Railways

ACIT Vs Central Warehousing Corpn. (ITAT Delhi)

We find that the claim of depreciation in respect of license/ registration fee paid by the assessee to the Indian Railways is an asset whereon depreciation u/s. 32(1) is allowable....

Vivad Se Vishwas Scheme

Vivad se Vishwas can be availed by the appellant irrespective of whether the tax arrears have been paid either partly or fully or are outstanding....

Posted Under: Excise Duty |

TP: Appropriateness of one or other method cannot be gone into Section 260A appeal

PCIT Vs. Gulbrandsen Chemicals Pvt. Ltd. (Gujarat High Court)

PCIT Vs. Gulbrandsen Chemicals Pvt. Ltd. (Gujarat High Court) The Tribunal has taken into consideration the voluminous documentary evidence on record for the purpose of coming to the conclusion of adoption of TNMM by the assessee as the Most Appropriate Method of arriving at ALP. The Delhi High Court in the case of Make My […]...

GST Section 129(3) proceedings concludes on deposit of Bank guarantee

M. M. Sons Vs Union of India (Allahabad High Court)

High Court states that if bank guarantee is deposited within prescribed time, then the proceedings taken out under section 129(3) of GST Act shall stand concluded in view of the provisions of section 129(5)....

Right to collect parking fees is nothing but a consideration liable to Service Tax

MGF Event Management Vs CCE (CESTAT Delhi)

MGF Event Management Vs CCE (CESTAT Delhi) We cannot accept the appellant‘s plea that huge parking space area was given to the appellant without any agreement with respect to financial consideration or without an agreement with respect to contingent liabilities with respect to theft, injuries, fire or other liabilities. It is difficult ...

FBT on providing Free Medicine Samples to Doctors by Pharma Companies

PCIT Vs Aristo Pharmaceuticals P Ltd (Bombay High Court)

Since there was no employer-employee relationship between the assessee on one hand and the doctors on the other hand to whom the free samples were provided, the expenditure incurred for the same cannot be construed as fringe benefits to be brought within the additional tax net by levy of fringe benefit tax....

Co-authorization of permanently disabled child/children in PPO for Family Pension

Notification No. HRD/1(34)2014/7thCPC/Vol.II/Pt.I/402 03/03/2020

Permanently disabled child/children or sibling can be co-authorized in the PPO issued to the retiring Government servant if there is no other eligible prior claimant for family pension other than the spouse....

No penalty/revival fee in RD/PPF/SSA Accounts till 30.06.2020

SB Order No. 14/2020 31/03/2020

The subscribers of RD/PPF/SSA Accounts may deposit the mandated due amount, if any of current F.Y. (2019-20) and April, 2020 (as the case may be) in their respective accounts till 30th June, 2020 and no penalty/revival fee shall be charged...

No Section 194H TDS on discount to distributors of prepaid SIM cards

CIT (TDS) Vs Vodafone Cellular Ltd. (Bombay High Court)

CIT (TDS) Vs Vodafone Cellular Ltd. (Bombay High Court) Whether provisions of Section 194H of the Income Tax Act, 1961 will be applicable in case of discounts given by the assessee to the distributors on account of prepaid SIM cards. Section 194H of the Act deals with commission or brokerage. It says that any person, […]...

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