GSTN facilitates new registration for corporate debtors under IBC, benefiting companies in insolvency resolution. Procedure and details included.
Jharkhand High Court held that Jharkhand Value Added Tax Act, 2005 [JVAT Act] doesn’t have any provision for initiation of re-assessment proceedings against a re-assessment order. In case assessing authority is allowed to initiate repeated re-assessment proceeding merely on dictate of audit party there would be no finality of assessment.
Revenue had placed no material on record to show that the loose papers were in the hand-writing of assessee and there was no corroborative material on record to prove that the expenditure recorded in the said loose papers was incurred by assessee. Therefore, no addition could be made on account of undisclosed expenses.
ITAT Ahmedabad held that rejection of books of accounts merely for not providing stock details in desired format and without bringing any corroborative material on record suggesting specific defect in the books of accounts is unjustified.
ITAT Jodhpur held that levy of late fees under section 234E of the Income Tax Act is effective only from 01.06.2015. Accordingly, levy of late fees for F.Y. 2012-2013 is unsustainable in law.
CESTAT Mumbai held that ‘interface card’ is classifiable under customs tariff it 8517 7010 and not under customs tariff item 8517 6290. Accordingly, demand of differential duty set aside.
Supreme Court restores Income Tax Appellate Tribunal (ITAT) appeal due to delay in Communication of CIT(A)’s order, granting opportunity for merit consideration.
Read about the case of Commissioner of CGST & Excise vs. National Aluminium Company Limited where no duty liability was imposed on transition from EOU to EPCG Scheme due to fulfilled export obligations.
Read about the Intas Pharmaceuticals Ltd vs. C.S.T. – Service Tax case, where the need for legal protection of intellectual property for tax liability is discussed.
Bombay High Court remands 11 refund appeals, instructs petitioner to provide details. A clerical error led to the initial rejection.
