With effect from 01.04.2023 ICEGATE-e-Payment Gateway will be implementing Internet Banking also as an additional channel for making e-payment of Central Excise duty & Service Tax dues.
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ITAT Chennai held that AO duly verified the subject matter in re-assessment proceedings and concluded that LTCG declared by the assessee is genuine. Accordingly, setting aside the assessment order invoking revisional jurisdiction u/s 263 on the same subject matter unjustified.
ITAT Allahabad held that passing an ex-parte appellate order without providing any opportunity even in case of faceless assessment proceedings unjustified as adherence to Principles of natural justice is one of the most important pillar of the effective judicial delivery system.
Supreme Court held that without the compressors and the pipes necessary to pump the dredged material, the cutter dredger would cease to function as such. Accordingly, benefit of NIL rate of duty in terms of notification no. 21/2002-CUS dated 01.03.2002 duly available.
ITAT Chennai held that as computer and robotix kit is totally different, depreciation @15% and not @60% available on Robotix kits.
ITAT Amritsar held that non-receipt of intimation resulted into no action on the part of the assessee. Accordingly delay of 9 years condoned as the assessee had reasonable cause of non-receipt of intimation
Direct tax deducted at source from transfer of Virtual digital Assets aggregates to Rs. 157.9 crore upto 20th March 2023 for FY 2022-23 The Direct tax collected by way of tax deducted at source under section 194S of the Income-tax Act, 1961, on payments made upon transfer of Virtual digital Assets (VDA), aggregates to Rs. […]
