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Archive: 24 August 2021

Posts in 24 August 2021

Govt removes levy of ADD on Barium Carbonate

August 24, 2021 348 Views 0 comment Print

Seeks to rescind notification No. 14/2016-Cus(ADD) dated 21st april, 2016 to remove levy of ADD on Barium Carbonate originating in or imported from China PR. MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 45/2021-Customs (ADD) | Dated: 24th August, 2021 G.S.R. 585(E).—In exercise of the powers conferred by sub-sections (1) and (5) of […]

Govt allow imports of 12 Lakh MT of crushed & de-oiled GM soya cake

August 24, 2021 1362 Views 1 comment Print

Application of provision as in Condition 6(b) of General Notes Regarding Import Policy Schedule – I (Imports) of the ITC (HS) 2017 is relaxed to allow imports of 12 Lakh Metric ton of crushed and de-oiled GM soya cake (only Non-living organism) under ITC HS codes 23040020 and 23040030 from Nhava Sheva (INNSA1) port and […]

No section 271(1)(c) penalty if notice was vague & ambiguous

August 24, 2021 4887 Views 0 comment Print

Addl. CIT Vs Airports Authority of India (ITAT Delhi) Perusal of the order passed by the ld. CIT (A) shows that the ld. CIT(A) deleted the penalty on two grounds : (i) that no valid notice u/s 274 of the Act has been issued to the assessee so as to inform the assessee as to […]

GST Evasion: Bombay HC refuses Anticipatory Bail to accused

August 24, 2021 1533 Views 0 comment Print

Premprakash laxminarayan bansal Vs State of Maharashtra (Bombay High Court) 1. Apprehending arrest in connection with Crime No. 0178/2021 registered with APMC Police Station, Navi Mumbai for the offences punishable under Sections 420, 406 and Section 34 of the Indian Penal Code, the applicant seeks pre-arrest bail. 2. The subject crime was registered at the […]

NO TP adjustment for expense already disallowed by Assessee

August 24, 2021 1842 Views 0 comment Print

3M India Limited Vs CIT (LTU) (ITAT Bangalore) A perusal of the same would show that the assessee is making year end provision every year. The provision made in one year is reversed in the succeeding year. There is no dispute that the assessee has voluntarily disallowed the year end provision u/s 40(a), since no […]

HC dismisses Actor Suriya’s plea to waive interest on income tax

August 24, 2021 1137 Views 0 comment Print

R.S. Suriya Vs PCIT (Madras High Court) Learned counsel for the petitioner reiterated that mere possession of assests by the assessee cannot be a disqualification to consider the ground of genuine difficulty. Certainly, the learned counsel for the petitioner is right in saying so. However, the genuine difficulty as defined is the subjective satisfaction of […]

TNVAT: No reversal of ITC for input loss during manufacturing

August 24, 2021 3804 Views 0 comment Print

R. K. Ganapathy Chettiar Vs Assistant Commissioner (ST) (Madras High Court) In that case, a certain amount of input had been utilised by the assessee, whereas the input in the finished product was marginally less. VAT department proceeded to reverse the cenvat credit on the difference between the original quantity of input and the input […]

Interest on delayed Service Tax refund payable on expiry of 3 months from application

August 24, 2021 3027 Views 0 comment Print

Astrazeneca India Pvt. Ltd. Vs Commissioner Of Central Tax (CESTAT Bangalore) Since the issue of interest on delayed refund has been settled by the apex court in the case of Ranbaxy Laboratories Ltd. (supra) wherein Hon’ble Supreme Court has held that interest on delayed refund under Section 11BB is payable on expiry of three months […]

Hand Mixers are different from Handheld Blender & not liable for BIS compliance

August 24, 2021 2664 Views 0 comment Print

I am of the opinion that the Handheld Mixer are not liable to have a BIS compliance as mentioned in BIS Kitchen Appliances (Quality Control) Order, 2018. I am of the opinion that the Handheld Mixer are not liable to have a BIS compliance as mentioned in BIS Kitchen Appliances (Quality Control) Order, 2018

Concept of mandatory contribution towards CSR

August 24, 2021 3009 Views 0 comment Print

Corporate Social responsibility The Concept of mandatory contribution towards Corporate Social responsibility (CSR) might be very new to us but in India, the concept of ‘Social responsibility‘ very much older. If we talk about social Responsibilities of a person then different religions have their own philosophies and doctrines about social responsibilities in different context. In […]

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