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Archive: 13 March 2023

Posts in 13 March 2023

‘Chokad’ sold to NALCO not being an ‘industrial input’ doesn’t attract 4% VAT

March 13, 2023 315 Views 0 comment Print

Orissa High Court held that Chokad sold to NALCO not being an industrial input. Accordingly, Entry 74 of Part-II of Schedule B of the OVAT Act attracting 4% VAT doesnot apply to the same.

Bogus Purchase: No Penalty if Addition was on Estimated Basis

March 13, 2023 3345 Views 0 comment Print

ITAT held that penalty u/s. 271(1)(c) on Bogus purchase addition cannot be levied where addition was made on estimated basis.

No independent examination of unjust enrichment aspect – CESTAT directs re-adjudication

March 13, 2023 786 Views 0 comment Print

C.C. Kandla Vs Reliance Industries Limited (CESTAT Ahmedabad) We find that in the present case, the revenue has not challenged the merit of the case however their appeal is only on the ground of unjust enrichment. The Revenue contended that the learned Commissioner (Appeals) merely followed the order of Mundra Custom however he  has not […]

CBIC releases technology related descriptions of Telecom equipment

March 13, 2023 2229 Views 0 comment Print

CBIC was apprised that some of technology related description of Telecom equipments, need to be better understood by all stakeholders for a more effective identification of products and equipment covered therein.

Wrongful MEIS scrip availment – CBIC to take action after DGFT decision

March 13, 2023 1797 Views 0 comment Print

MEIS scrip was wrongfully availed/obtained and is liable for cancellation by license issuing authority, for which DGFT office has also issued show cause notice dated 14.10.2020 under FT(DR) Act.

Without Suppression of Facts or Fraud Extended Period of Limitation cannot be invoked

March 13, 2023 528 Views 0 comment Print

Once there is no averment either in SCN or impugned orders regarding availment of benefits by suppression of fact or fraud, invoking extended period of limitation is not proper

Addition for Unexplained Jewellery – ITAT grants relief considering Status & Traditional Practices

March 13, 2023 453 Views 0 comment Print

Mohamed Mohideen Ayesha Nasreen Vs ACIT (ITAT Chennai) ITAT held that it could be seen that assessee is living with her husband and three children (Two daughters and one son) in USA. She has got married in the year 2003. In this letter, the assessee has submitted that approx. 1201 grams of jewellery belong to […]

Unjust enrichment not attracted to deposit during investigation or to pre-deposit for appeal

March 13, 2023 1542 Views 0 comment Print

Apex Court held that unjust enrichment not attracted where amount is deposited during investigation and pendency of appeal, as such deposits are under protest or in the nature of pre-deposit.

Cultivation of high quality foundation seeds of peas, wheat, paddy & potato is agricultural activity

March 13, 2023 753 Views 0 comment Print

Malook Singh Vs PCIT (ITAT Delhi) CIT(A) held that cultivation of high quality foundation seeds of peas, wheat, paddy and potato is different from normal agricultural activity. Against this, the assessee has submitted all the bills & vouchers for expenses like lease rent, power bills, fertilizer, seeds, labour, wages and details of sale and mandi […]

HC Grants Bail to Consultant in case of alleged Bribery to Income Tax Superintendent

March 13, 2023 906 Views 0 comment Print

Mehboob Jaffer Ali Shaikh Vs Central Bureau of Investigation (Bombay High Court) 1. This is an application for bail pending final disposal of Criminal Appeal No.157 of 2023 preferred by the Applicant against the Judgment and order dated 12/01/2023 passed by learned Special Judge, CBI, Greater Bombay in Special Case No.116 of 2013. The applicant […]

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