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Archive: 15 July 2023

Posts in 15 July 2023

Reassessment proceedings based upon unverified details are not valid

July 15, 2023 1032 Views 0 comment Print

Gujarat High Court in case of Sampatraj Dharmichand Jain Vs ITO concludes that Reassessment notice issued beyond prescribed time period and based on unverified details is invalid.

Service Tax Refund Cannot Be Rejected for Invoicing to Agent

July 15, 2023 315 Views 0 comment Print

CESTAT Ahmedabad, in case of Khushi Enterprise vs C.C.E. & S.T.-Daman, has upheld the right to a service tax refund on export of goods, emphasizing that an invoice to an agent is just as valid as an invoice to principal.

बढ़ती मंहगाई और घटता निर्यात दे रहे आर्थिक सुस्ती का संकेत: इंफ्रास्ट्रक्चर में झोंकना होगा और पैसा

July 15, 2023 765 Views 0 comment Print

इसमें कोई शक नहीं कि दुनिया के लगभग सभी विकसित देश आर्थिक सुस्ती और मंहगाई से परेशान हैं और इसलिए अपने घरेलू सेक्टर पर तबज्जों दे रहे हैं, जिस कारण से विकासशील देशों से माल कम खरीद रहे हैं और ऐसे देश ढूंढ रहे हैं जो इनका माल खपा सकें. यही कारण है कि अमेरिका […]

CESTAT Grants PepsiCo India Benefit of Lower Duty on Fruit Pulp; Reversal of Ineligible Credit Acknowledged

July 15, 2023 549 Views 0 comment Print

Unpacking the latest CESTAT Chennai verdict on the PepsiCo India vs Commissioner of GST & Central Excise case, exploring how PepsiCo India was granted the benefit of a 1% duty rate on fruit pulp following a reversal of ineligible credit.

Re-Application Permissible for Wrongly Submitted 12A(1)(ac) Registration application

July 15, 2023 2478 Views 0 comment Print

The ITAT Delhi ruling in Arya Samaj Safdarjung Enclave Vs CIT sheds light on the reapplication process for 12A(1)(ac) registration erroneously submitted, encouraging a fresh approach to tax registration for non-profits.

ITAT condones delay in appeal filing due to prolonged illness

July 15, 2023 222 Views 0 comment Print

Baskaran, the Karta of the HUF, submitted that his prolonged illness prevented him from managing the day-to-day activities of the business, causing the delay in filing the appeal. Despite this, the CIT(A) dismissed the appeal, stating that the delay wasn’t sufficiently justified.

ITAT Delhi Overturns Assessment Order Passed without Assessee’s Opportunity

July 15, 2023 513 Views 0 comment Print

Explore the case of Satish vs ACIT where ITAT Delhi quashed an assessment order passed without giving the assessee an opportunity to respond, setting a vital legal precedent.

ITAT Allows Deduction for GST Paid Before Due Date of ROI Filing

July 15, 2023 1668 Views 0 comment Print

Delve into the case of Santi Kumar Oswal Vs ACIT where ITAT Kolkata ruled that no disallowance can be made for GST paid before the due date of filing ROI, emphasizing fair application of the Income Tax Act.

LDT Unrelated to Assessable Value of Goods: CESTAT Quashes Differential Duty Demand

July 15, 2023 492 Views 0 comment Print

CESTAT Ahmedabad set a precedent in Hussain Sheth Ispat Vs Commissioner of Customs, ruling that Light Displacement Tonnage (LDT) is not relevant to the assessable value of goods, nullifying the differential duty demand.

Disallowance of Section 54F Deduction for Assessee with Multiple Residential Houses

July 15, 2023 14766 Views 1 comment Print

Gain in-depth insights into the ITAT Kolkata’s landmark ruling on residential property deductions under Section 54F of the Income Tax Act. Learn how ownership of more than one house impacts tax deductions.

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