"02 November 2023" Archive

GST refund cannot be denied for merely for multiple inputs & output supplies

Nahar Industrial Enterprises Limited Vs Union of India (Rajasthan High Court)

In the Nahar Industrial Enterprises Ltd. vs. Union of India case, Rajasthan High Court ensures GST refund isn't denied solely due to multiple inputs and outputs....

Customs Exchange Rates effective from 3rd November, 2023

Notification No. 81/2023 - Customs (N.T.) 02/11/2023

Stay updated with Customs Notification No. 81/2023-Cus (NT) dated 02/11/2023. Learn about revised exchange rates for imported and export goods. Important information for international trade....

Benefit of Notification 108/95-CE cannot be denied if no evidence of removal of goods before project completion

L&T Construction Equipment Ltd Vs Principal Commissioner (CESTAT Bangalore)

CESTAT Bangalore held that in the absence of any evidence regarding removal of the goods before completion of the project, the benefit of Notification No.108/95 CE dated 28.08.1995 amended vide Notification No.13/2008 CE dated 01.03.2008 cannot be denied. Accordingly, demand set aside....

FERA Section 56 Proceedings Initiation Without SCN Unsustainable

Shilpi Modes Vs Directorate of Enforcement & Ors (Delhi High Court)

Delhi High Court held that initiation of proceedings under section 56 of the Foreign Exchange Regulation Act, 1973 (FERA) without issuance of show cause notice or opportunity notice is against the principle of natural justice and hence untenable-in-law....

Reopening on ‘Borrowed Satisfaction’ Instead of ‘Independent Satisfaction’ is Unlawful

Paresh Babubhai Bahalani Vs ITO (Gujarat High Court)

Gujarat High Court held that reopening of assessment under section 147 of the Income Tax Act merely based on ‘borrowed satisfaction’ as against statutory requirement of ‘independent satisfaction’ is bad-in-law....

Notification 41/2012-ST Covers Refund of Swachh Bharat & Krishi Kalyan Cess

MMTC Limited Vs Commissioner of CGST & CX (CESTAT Kolkata)

CESTAT Kolkata held that notification no. 41/2012-ST grants refund of service tax paid on the taxable services used for export of goods. The said refund includes refund of Swachh Bharat Cess (SBC) and Krishi Kalyan Cess (KKC) too....

Taxability of Deemed Dividend (Section 2(22)(e)) Limited to Shareholder

ACIT Vs Kiran Ship Breaking Company (ITAT Ahmedabad)

ITAT Ahmedabad held that addition of amount received as advances as deemed dividend in terms of section 2(22)(e) of the Income Tax Act unsustainable as assessee firm is neither registered shareholder nor beneficial shareholder. Concluded that deemed dividend is taxable only in the hands of the shareholder....

Second Wife Not Entitled to Death Benefit Without Government Approval

Shaik Khateeja Begum alias Mohammed Khateeja Begum Vs Mohammed Masthan Bee (Telangana High Court)

As per Revised Pension Rules, 1980, family pension is not admissible to the second wife as marrying another wife, (when one wife is living) without obtaining the approval of Government is contrary to Rule 25 of A.P. Civil Services (Conduct) Rules, 1964. In absence of Government approval, death benefit not entitled to second wife....

Rectification of Mistake Under Section 154: A Comprehensive Guide

Article discusses about Order which can be rectified under section 154 of Income Tax Act, 1961, Rectification of Income Tax order which is subject to appeal or revision, Initiation of rectification by whom, Time-limit for rectification, The procedure to be followed for making an application for rectification, etc....

The Power of Planning: How a Loan Against Property EMI Calculator Can Help

Optimise your finances with a Loan Against Property EMI Calculator. Learn how it can help you plan an efficient repayment plan & LAP balance transfer ...

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December 2023