CESTAT Mumbai in the matter of obsolete stock usage vis-à-vis reversal of CENVAT Credit or discharge of duty u/r 3(5B), it is held that mere Chartered Accountant’s certificate without documentary evidence is not sufficient. Matter remanded for the purpose of producing documentary evidence.
CESTAT Chennai held that aluminium structures and fabricated items used as towers are integral part of Wind Turbines or Wind Operated Electricity Generators (WOEG) so as to be eligible for exemption under Notification No.12/2012-CE dated 17.03.2012.
CESTAT Chennai held that the sharing services of their corporate staff with the group of companies is covered by the definition of ‘manpower recruitment or supply agency’ as defined in Section 65(105)(k) of FA, 1994 read with section 65(68) ibid.
Read latest circular from PFRDA regarding guidelines for operational activities to be followed by Point of Presence (PoPs-NPS-Lite). Stay updated and comply with regulations.
Recent judgment reduces penalty for M/s. Vena Energy Renewables Resources Pvt Ltd’s delay in filing e-Form INC-20A, highlighting the MCA’s evolving compliance landscape.
Ministry of Finance amends rule 11UAC of Income-tax Rules 1962, specifically addressing the relocation of funds and movable property vide Notification No. 51/2023-Income Tax | Dated: 18th July, 2023. Under the Income-tax (Thirteenth Amendment) Rules 2023, a new sub-rule has been inserted in rule 11UAC. This sub-rule pertains to movable property, such as shares or […]
The Central Board of Indirect Taxes and Customs in India has received concerns about the suspension of Customs Broker licenses, even when it may not be warranted. This practice can have disruptive consequences, particularly for small enterprises. Regulation 16 of the CBLR, 2018 provides the Commissioner of Customs with the power to suspend licenses in […]
In present case, the Hon’ble Apex Court quashed the anticipatory bail filed under section 438 of the CrPC wherein the details pertaining to PAN Number and TDS were missing for the registration of sale deed and there was no source of transaction of consideration for the purchase of land even when the property in dispute was highly undervalued.
ITAT Delhi held that amounts paid by resident Indian to nonresident computer software manufacturers/suppliers, as consideration for the resale/use of the computer software through EULAs/distribution agreements, is not the payment of royalty and hence not taxable in India. Hence, TDS u/s. 195 not deductible.
CESTAT Mumbai held that pressmud, bagasse, boiler ash and sludge, generated during the manufacturing of sugar/molasses, are waste or byproduct and therefore Rule 6 of the Cenvat Credit Rules, 2004 (CCR, 2004) shall have no application.
