CESTAT Bangalore held that benefit of exemption notification no. 06/2006-CE dated 01.03.2006 and 12/2012-CE available to the motor vehicle manufactured as ownership of chassis was transferred after the sale of the same by VIPL to Appellant.
Read Notification No. 87/2023-Income Tax dated 6th October, 2023, granting exemption to Dental Council of India from specified income under Income-tax Act, 1961
CESTAT Chennai held that the demand for paying an amount of 5% /10% /6% on the value of exempted clearances unwarranted when the appellant has reversed the proportionate credit of inputs used in manufacture of exempted products.
CESTAT Ahmedabad held that penalty imposed under Sub-Regulation 8 of Regulation 12 cannot be inclined for lack of due diligence on the part of the employee of CFS especially when the department did not find anything wrong when compared to employees of other CFS.
Bombay High Court held that re-opening of assessment under section 148 of the Income Tax Act, without indicating basis for having a reason to belief that income has escaped assessment, merely based on change of opinion is unsustainable in law and liable to be quashed.
ITAT Kolkata remanded the matter back to CIT(A) as relief was granted to the assessee on the basis of various submissions which were for the first time furnished before CIT(A) and CIT(A) prior to granting relief didn’t conduct any enquiry on the same.
ITAT Raipur held that assessee-society not being wholly and substantially financed by the government is not entitled for claiming exemption under Section 10(23C)(iiiab) of the Income Tax Act, 1961.
Calcutta High Court’s judgment in Damodar Valley Corporation vs. Reliance Infrastructure highlights the need for arbitration reform in India and upholds a Rs 1354 crore award.
Read about Delhi High Court’s decision in Delhi Metro Rail Corporation Ltd. vs. Additional Commissioner case regarding CGST Act’s limitation period for refund when tax is collected without authority of law.
Explore latest GSTN advisory on DRC-01C compliance for managing input tax credit discrepancies in GSTR-2B and GSTR-3B. Learn the rules, process, and implications.
