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Archive: 01 November 2023

Posts in 01 November 2023

CENVAT Credit Reversal for Polyester Spun Yarn Manufacturer under Rule 6(3)(i)

November 1, 2023 522 Views 0 comment Print

CESTAT Hyderabad’s ruling on CENVAT credit reversal for a polyester spun yarn manufacturer and the use of Rule 6(3) in central excise regulations.

Limitation period cannot be extended for interpretation issue with no suppression

November 1, 2023 1137 Views 0 comment Print

CESTAT Kolkata quashes penalty in a service tax case related to testing, inspection, and certification services due to a limitation issue.

CESTAT Kolkata Dismisses Time-Barred Custom Appeal

November 1, 2023 888 Views 0 comment Print

CESTAT Kolkata dismisses an appeal as it was filed beyond the condonable period specified by Section 128 of the Customs Act. Learn more about the case.

Income Tax Act Orders Should Initially Undergo Appeals, Not Immediate Writ Challenges

November 1, 2023 906 Views 0 comment Print

Allahabad High Court addresses Income Tax Act, reaffirming that appealable orders must be pursued before invoking writ jurisdiction. Learn more.

CENVAT Credit admissible on ‘Banking & Financial Services’ used in Immovable Property Renting

November 1, 2023 741 Views 0 comment Print

CESTAT Bangalore’s recent decision on CENVAT credit for banking and financial services in property rentals. Detailed analysis and implications of the case.

Correct Application of AS-9 for advances: ITAT confirms deletion of Addition

November 1, 2023 594 Views 0 comment Print

ITAT Mumbai’s recent decision on advance income tax treatment. Explore the case between ITO and Nayak Chaudhari Construction Pvt. Ltd. and its implications.

ITAT Allows Director’s Post-Graduate Education Expense

November 1, 2023 861 Views 0 comment Print

Case of ITO Vs. Iris Products Pvt. Ltd. where ITAT Ahmedabad permits Assessee Company to fund a Director’s post-graduate education for business benefit.

No capital gain in the hand of transferee in Slump Sale of certain Business Line

November 1, 2023 981 Views 0 comment Print

Analysis of DCIT vs. Thulasi Mohan Constructions Pvt. Ltd. case, where capital gains in a business slump sale were contested. Learn legal intricacies and conclusions.

No Addition for Delay in Form No. 10 Filing When Condoned by CIT(E)

November 1, 2023 2025 Views 0 comment Print

ITAT Jodhpur’s decision regarding the condonation of delay in filing Form No. 10 within the due date of ITR under Section 139 of the IT Act. No addition made.

RBI Enables Rs. 2000 Banknote Deposits via India Post & Release Deposit Application Format

November 1, 2023 40926 Views 1 comment Print

Members of public within India can now utilize India Post services to send ₹2000 banknotes to any of the RBI Issue Offices. This allows for convenient and efficient credit to their bank accounts in India.

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