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Archive: November, 2022

Posts in November, 2022

Section 271B penalty not justified for delay due to late appointment of Auditor by CAG

November 23, 2022 1179 Views 0 comment Print

Madhya Pradesh Audyogik Kendra Vikas Nigam (Indore) Limited Vs DCIT (ITAT Indore) The assessee has challenged the penalty to the tune of Rs.1,50,000/-levied under Section 271B of the Act. The assessee, a Government company, wherein appointment of Auditor in the case of the appellant was governed by the provision of section 619(2) of the Companies […]

Appeal effect order has to be passed within 3 months of passing appeal order

November 23, 2022 8340 Views 0 comment Print

KRBL Limited Vs DCIT (Delhi High Court) Court is of the view that the Respondents-Revenue have had sufficient time to file an appeal against the order of the ITAT. In any event, in accordance with the mandate of law, the appeal effect order has to be passed within three months of passing the appeal order. FULL […]

Providing blank LRs for passing of fraudulent cenvat credit- CESTAT upheld Penalty

November 23, 2022 357 Views 0 comment Print

Samir Transport Company Vs C.C.E & S.T. (CESTAT Ahmedabad) In the present case the penalty was imposed on the appellants under Rule 26 (2) of Central Excise Rules, 2002. In connection with fraudulent passing of cenvat credit on the invoices issued by M/s Accord Industries Limited to M/s Archon Engicon Limited. The fact is not […]

Disposal of confiscated gold during Pendency of Appeal Violates Natural Justice Principle

November 23, 2022 1209 Views 0 comment Print

It is very clear that the department has disposed of /sold the goods on the understanding that the first order of the adjudicating authority is the final order. At the same time the department was well aware about the pendency of the appeals before this Tribunal. Therefore the action of the department is clearly in gross violation of principles of natural justice, hence the same cannot be allowed to sustain.

Appeal not required to be filed for Refund of Duty paid based on mere letter from Department

November 23, 2022 1212 Views 0 comment Print

In the present case the payment of anti dumping duty is not due to assessment or reassessment of Bills of entry but merely by a letter from the department, therefore there is nothing in the bills of entry to challenge.

Interest eligible on refund of excess reversal of cenvat credit if not sanctioned within 3 Months of application

November 23, 2022 915 Views 0 comment Print

Reliance Industries Ltd Vs C.C.E. & S.T. (CESTAT Ahmedabed) The limited issue to be decided in the present case is that when the appellant were granted the refund of excess reversal of cenvat credit whether they are entitled for the interest for the delayed sanction of refund in terms of Section 11 BB. I find […]

CENVAT credit eligible on Freight, if included in assessable value & not separately charged

November 23, 2022 1017 Views 0 comment Print

Gujarat Metal Cast Industries Ltd. Vs C.C.E. & S.T. (CESTAT Ahmedabad) CESTAT held that if the sale of goods is on FOR, freight is included in assessable value on which excise duty was paid and the freight was not separately charged to the customer of the goods, the assessee is entitled for the Cenvat Credit. […]

Levy of GST & penalty cannot be based upon presumption

November 23, 2022 2073 Views 0 comment Print

Appellate authority after referring to provisions of Section 129 held that it is well settled that levy of tax & penalty cannot be based upon presumption

Search and seizure action by Income Tax Department in Bihar

November 23, 2022 714 Views 0 comment Print

Income Tax Department initiated a Search & Seizure action on few groups engaged in the business of gold & diamond jewellery and real estate, on 17.11.2022. The searches were carried out at more than 30 premises spread over Patna, Bhagalpur, Dehri-on-Sone, Lucknow and Delhi. During the course of the search, large number of incriminating documents […]

Rule 128(9) not provide for denial of FTC in case of delay in filing Form No. 67

November 23, 2022 1656 Views 0 comment Print

ITAT held that Rule 128(9) of the Rules does not provide for disallowance of Foreign Tax Credit (FTC) in case of delay in filing Form No. 67; (ii) filing of Form No. 67 is not mandatory but a directory requirement and (iii) DTAA overrides the provisions of the Act and the Rules cannot be contrary to the Act.

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