Calcutta High Court held that the capital investment and resale do not lose their capital nature merely because the resale was foreseen and contemplated when the investment was made.
CESTAT Mumbai held that the goods are to be assessed in the form they are produced for assessment. Accordingly, goods cleared as fruit pulp cannot be assessed and duty cannot be demanded on the basis of sale price of fruit juice.
Petitioner is a Chartered Accountant by profession and after passing the examination, he became eligible to be appointed as an Insolvency Professional by the Committee of Creditors under Section 3(19) of IBC, 2016 for handling the companies under liquidation.
CESTAT Delhi held that proviso to Rule 3(4) of Cenvat Credit Rules specifically debars the payment of Clean Energy Cess by use of cenvat credit taken under Rule 3(1) of Cenvat Credit Rules. Accordingly, intent of legislation is very clear not to allow the cenvat credit of Clean Energy Cess.
Stay updated on amendments in labelling and packaging for Pan Masala and Bread. Learn about warning declarations and ingredient specifications in the Food Safety and Standards Regulations.
Understand Section 44AE of the Income Tax Act, 1961 with the latest amendments. Learn about profit computation, deductions, and key provisions for businesses owning up to 10 goods carriages.
DCIT Vs Amrapali Eden Park Developers Pvt. Ltd. (ITAT Delhi) AO observed that the assessee has claimed expenditure on account of purchase from certain parties who are involved in merely issue of purchase bills (Bogus Purchase) and effecting payments through banking channels for commission and not actually supported with the physical transfer of goods. Furthermore, […]
ACIT Vs IQOR India Services Pvt. Ltd. (ITAT Delhi) Assessee submitted that there are a number of decisions of the co–ordinate Benches, wherein, with reference to India-Philippines DTAA, it has been held that, even, in absence of FTS clause, the income would be governed under the other provisions of DTAA, hence, has to be treated […]
Shilpa Vitthal Jadhav Vs ITO (ITAT Pune) AO considered sale of plot as per development agreement of Rs.50,00,000/- as the share of assessee but, I find no reference whatsoever regarding the exact share of assessee pointing out in the said development agreement. The contention of ld. AR is that the AO considered the said amount […]
CBDT notifies Ontario Limited as pension fund – section 10(23FE) vide Notification No. 114/2022-Income Tax | Dated: 13th October, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 114/2022-Income Tax | Dated: 13th October, 2022 S.O. 4872(E).—In exercise of powers conferred by sub-clause (iv) of clause (c) of […]
