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Archive: 29 November 2023

Posts in 29 November 2023

Income Tax Insight Portal functionalities FAQs

November 29, 2023 4725 Views 0 comment Print

Explore FAQs on Insight Portal functionalities, including Profile Views, I-Search, Verification, Faceless Assessment, and Business Intelligence. Enhance your user experience now!

ITAT Hyderabad allows 75% of Overburden Removal Expenditure

November 29, 2023 438 Views 0 comment Print

Explore the ITAT Hyderabad order on Veerabhadra Minerals Pvt Ltd’s appeal against the disallowed overburden removal expenditure. Learn about the assessing officer’s concerns, CIT(A)’s decision, and ITAT’s direction to delete 75% of the addition. Get insights into the reasoning and implications for mining contracts.

ITAT upholds additions which were based on sworn statements & reconciliation statements 

November 29, 2023 525 Views 0 comment Print

Explore the ITAT Chennai’s order in the case of Tulsian Refinery Pvt. Limited vs. DCIT for AY 2016-17 & 2017-18. Discover how the deletion of additions related to bogus interest expenditure was determined through sworn statements and reconciliation statements, and the impact of Hon’ble ITSC’s findings on KRPL. Read the full text of the order and gain insights into the assessment and appellate proceedings.

No CENVAT Credit denial To Service Recipient Without Opening Assessment of Service Provider 

November 29, 2023 696 Views 0 comment Print

Explore the crucial CESTAT Mumbai ruling in Tata AIG vs. Commissioner of Service Tax. Learn why denying CENVAT credit without assessing service providers is deemed unsustainable. In-depth analysis, legal insights, and the impact on general insurance services.

No Violation of Section 11B: CESTAT Upholds Service Tax Refund

November 29, 2023 384 Views 0 comment Print

Read the comprehensive analysis of the CESTAT Delhi order where the Commissioner (Appeals) upholds the service tax refund claim by Mobinteco Ltd. The decision revolves around the non-violation of Section 11B of the Central Excise Act, offering insights into the intricacies of service tax provisions and relevant dates for refund claims. Get a detailed understanding of the case, the arguments presented, and the implications for similar situations.

RBI Excludes Rupee Co-operative Bank: Latest Notification 2023

November 29, 2023 573 Views 0 comment Print

Read the Reserve Bank of India’s latest notification dated November 29, 2023, excluding Rupee Co-operative Bank. Explore the impact and reasons behind this decision.

Rule 4(5)(b) of CENVAT Credit Rules allows credit for moulds & dies sent for production

November 29, 2023 225 Views 0 comment Print

In a landmark decision, CESTAT Mumbai rules in favor of Lear Automotive (India) Pvt Ltd, directing re-adjudication for the recovery of CENVAT credit related to epoxy moulds. Full text analysis included.

 RCM applicable only when service is provided to ‘business entity registered as body corporate’

November 29, 2023 1335 Views 0 comment Print

Find out why RCM applicable only when service is provided to ‘business entity registered as body corporate’ is key to understanding the full CESTAT Hyderabad order from 2016-2017. Learn the facts now!

CESTAT Chandigarh Quashes Excise Duty Demand on ground of Limitation

November 29, 2023 537 Views 0 comment Print

Read the full text of CESTAT Chandigarh’s order quashing excise duty demand on auto parts manufacture by NTF (India) Pvt. Ltd. Explore the legal battle, key arguments, and the final verdict.

Franchise Service Classification & Limitation & Bona Fide Doubt: CESTAT ruling

November 29, 2023 297 Views 0 comment Print

Explore the CESTAT Chandigarh’s decision favoring Liberty Group Marketing Division in quashing service tax demands related to ‘Franchise Service’ for footwear manufacturing and distribution. Dive into the analysis of the agreement, the definition of ‘Franchise,’ and the crucial issue of limitation. Get insights into the legal arguments, precedents, and the CESTAT’s conclusion on this noteworthy case.

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