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Archive: 23 April 2023

Posts in 23 April 2023

CESTAT explains Test to determine unjust-enrichment

April 23, 2023 1209 Views 0 comment Print

CESTAT Ahmedabad orders a fresh look into Vapi Care Pharma’s refund claim, probing the unjust enrichment aspect and duty pass-through.

Rs. 20000 Limit under section 269SS & 269T is person wise

April 23, 2023 5022 Views 0 comment Print

ITAT Jaipur rules in favor of Shri Deepak Mata, deleting penalties under Sections 271E and 271D for loan transactions below Rs.20,000 threshold.

ITAT restores matter to CIT(E) as his order was non-speaking order

April 23, 2023 1185 Views 0 comment Print

CIT(E)’s order is also a non-speaking one to this extent we deem it appropriate to restore the assessee’s substantive grievance back to the very authority for appropriate adjudication as per law

MCA Advisory on Launch of STK-2 form along with C-PACE functionality

April 23, 2023 4077 Views 0 comment Print

Ministry of Corporate Affairs is launching STK-2 form along with C-PACE functionality on 01st May 2023 at 12:00 AM.

Extended period of limitation cannot be invoked if facts were known to Revenue

April 23, 2023 1215 Views 0 comment Print

CESTAT Ahmedabad decides in favor of Eimco Elecon India Ltd, setting aside demand for reversal of cenvat credit and penalty, citing past tribunal order.

No service tax on handling of agriculture produce within or outside port by Cargo handling agency

April 23, 2023 984 Views 0 comment Print

CESTAT Ahmedabad clarifies classification of cargo handling services within port premises, affirming eligibility for tax exemption under Notification 10/2002.

No service tax on GTA Service in Absence of Consignment Notes

April 23, 2023 2139 Views 0 comment Print

CESTAT Ahmedabad rules in favor of Savla Chemicals, dismissing the service tax demand under goods transport agent service due to lack of consignment notes.

No Denial of FTC for non-filing of Form No. 67

April 23, 2023 1500 Views 0 comment Print

Filing of Form No. 67 under Rules 128 of Income Tax Rules is a procedural requirement, therefore, is a directory in nature, non-compliance thereof does not disentitled assessee in claiming Foreign Tax Credit (FTC)

Depreciation allowed in initial years, cannot be disturbed in subsequent years

April 23, 2023 921 Views 0 comment Print

If in the initial year of claim the depreciation, is allowed, the claim cannot be disturbed in the subsequent years

Section 54B exemption eligible on Agricultural Property purchased against Advance of Agricultural Property Sale

April 23, 2023 1863 Views 0 comment Print

Assessee should be allowed benefit of deduction under section 54B of Act since purchase in new property has been made out of advances received towards sale of agricultural properties held by assessee.

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