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Archive: 10 November 2023

Posts in 10 November 2023

Closed assessment cannot be reopened without any actionable material

November 10, 2023 711 Views 0 comment Print

Delhi High Court held that reopening of closed assessment which has reached culmination without any actionable material is unsustainable in law and hence liable to be quashed.

Courts could not overrule decisions of Govt-Appointed Experts unless there was gross miscarriage of Justice

November 10, 2023 453 Views 0 comment Print

Board is the authority to regulate the functioning of the Insolvency Professionals and the Board comprises of experts in the field who have been appointed by the Central Government to carry out the functions specified under Part IV of the IBC.

Request for Extension of Time Limit for Filing FORM GSTR 3B for October 2023

November 10, 2023 42906 Views 2 comments Print

GCCI urges Finance Minister Nirmala Sitharaman for an extension of GSTR 3B filing deadline for October 2023 due to festive closures. Read the appeal for details

Demystifying Section 54(1) & Explanation (2) for GST Refund Applications

November 10, 2023 3240 Views 0 comment Print

Understand Section 54(1) & Explanation (2) for GST refund applications with this detailed tutorial. Find out how to file a refund application & definition of the ‘relevant date.’

CENVAT Credit Allowed for Management Consultancy Services under Rule 6(5) of CCR

November 10, 2023 420 Views 0 comment Print

The CESTAT Ahmedabad rules in favor of Sabic Innovative Plastics India Pvt Ltd, allowing CENVAT credit for Management Consultancy Services and halting enforcement of demand notice.

ITAT Upholds Section 56(2)(viib) Addition for Excess Consideration on Share Allotment

November 10, 2023 756 Views 0 comment Print

ITAT Mumbai upholds addition in Osianama Learning Experience Pvt. Ltd. case under Section 56(2)(viib) of the Income Tax Act, related to excess consideration received on allotment of shares.

No Excise Duty on Exempted Steam with Reversed CENVAT Credit

November 10, 2023 501 Views 0 comment Print

CESTAT Ahmedabad’s verdict on C.C.E. & S.T vs. Shreno Limited case regarding excise duty demand under Rule 6(3) of CCR when CENVAT credit is reversed on common input services for exempted steam.

SSI Exemption for Submersible Pumps Meeting BIS Standards: CESTAT Ahmedabad

November 10, 2023 324 Views 0 comment Print

Explore CESTAT Ahmedabad’s verdict on SSI exemption for Submersible Pumps adhering to BIS standards. Learn about the case, analysis, and conclusions.

No section 234E Penalty for Delay in TDS return filing due to filing in wrong form

November 10, 2023 1914 Views 0 comment Print

Explore the Kerala High Court’s ruling deleting section 234E penalty for TDS return delay caused by filing in Form 24Q instead of 26Q. Insights on the case, assessment, and the court’s decision.

Excise Duty payable on Free Physician Samples Based on Transaction Value

November 10, 2023 372 Views 0 comment Print

CESTAT Kolkata rules on excise duty for physician samples distributed free of cost by medicament manufacturers. Analysis of the case of Parker Robinson Private Limited vs. CCE.

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