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Archive: 05 October 2023

Posts in 05 October 2023

Confiscation of imported rough diamonds unjustified as no verification conducted on suspected faulty certificate

October 5, 2023 306 Views 0 comment Print

CESTAT Mumbai held that confiscation of imported rough diamonds unjustified as if the Kimberly Process Certification was suspected to be faulty the verification should have been initiated with issuing authority.

Tax leviable as receipt qualifies as Fees for Technical Services as per Indo – Singapore DTAA

October 5, 2023 627 Views 0 comment Print

ITAT Delhi held that payments received by the assessee qualifies as Fees for Technical Services (FTS) under sub-clause (4) of Article 12 of Indo – Singapore DTAA and hence rightly brought to tax @10%.

Reopening of completed assessment beyond four years unjustified as material facts fully and truly disclosed

October 5, 2023 642 Views 0 comment Print

ITAT Raipur held that reopening of completed assessment beyond four years without failure on the part of the assessee to fully and truly disclose all the material facts is unjustified and liable to be quashed.

Nature and source of credit being linked to business it cannot be assessed under deeming section 68

October 5, 2023 840 Views 0 comment Print

ITAT Chennai held that once the nature and source of credit found in the books of accounts is linked to business, then any income generated out of such business activity is assessable under the head income from business and profession alone, but not under the provisions of section 68 of the Income Tax Act.

Sale of customized software on CD is excisable goods hence cannot be considered for levy of service tax

October 5, 2023 588 Views 0 comment Print

CESTAT Bangalore held that sale of the customized software on a CD as part of the ‘Distributed Control Systems’ DCS is excisable goods and hence it cannot be considered for levy of service tax.

ISD & Cross Charge: GST Clarifications & Impact

October 5, 2023 6222 Views 0 comment Print

Get clarity on Input Service Distributor (ISD) and cross charge in GST with latest Circular 199/11/2023-GST. Explore provisions, disputes, and way forward for taxpayers.

Extension of Limitation Not Applicable Without Intent to Evade Service Tax Payment

October 5, 2023 642 Views 0 comment Print

CESTAT Ahmedabad rules in favor of M/s. Sophisticated Instrumentation, a charitable trust, stating that the extended limitation cannot be invoked when there is no intention to evade service tax.

Classification of Amazon Echo Device C2H4R9 – Customs Authority Ruling

October 5, 2023 408 Views 0 comment Print

Read about Customs Authority’s ruling on classification of Amazon Echo Device C2H4R9, its features, and eligibility for customs duty benefits.

ED Must Furnish Arrest Grounds in Writing: SC

October 5, 2023 10695 Views 0 comment Print

In a landmark decision, SC directs Directorate of Enforcement (ED) to provide written grounds of arrest, criticizing ED’s conduct as arbitrary & vindictive.

Due date of Annual Filing under Companies Act, 2023

October 5, 2023 8991 Views 0 comment Print

Discover annual filing requirements under Companies Act 2013 for 2023, including deadlines, documents, and penalties for non-compliance.

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