As per Section 18(6) of the Central Goods and Service Tax Act, 2017 In case of supply of capital goods or plant and machinery, on which input tax credit has been taken, the registered person shall pay an amount equal to the input tax credit taken on the said capital goods or plant and machinery […]
The Ministry of Finance designates new special courts in Kerala for PMLA cases, updating jurisdiction for various districts in the state as of August 19, 2024.
Calcutta HC remands Somnath Commosales Pvt Ltd case to AO for fresh assessment. The final opportunity is granted; non-cooperation will result in no further indulgence.
Allahabad High Court ruled Section 130 of GST Act can’t be applied for excess stock found during search; Section 73/74 should be used for tax determination.
Calcutta HC dismisses appeal by revenue, upholds ITAT decision quashing PCIT order under Section 263 on MAT credit and doubtful debts for Eastern Coalfields Ltd.
CESTAT Bangalore rules Montanide ISA 206 VG is not classifiable as a veterinary vaccine. Penalty on Bharat Biotech under Customs Act deleted.
Calcutta High Court affirms ITAT’s decision to delete income tax addition under Section 69 due to lack of direct evidence against Salarpuria Properties Pvt. Ltd.
ITAT Mumbai dismisses income tax additions for AY 2014-15, stating reliance on a generalized report without independent inquiry is insufficient.
ITAT Mumbai dismisses Revenue’s appeal, upholds CIT(A) decision to delete addition of interest income from fixed deposits in Evita Construction Pvt. Ltd. case.
CESTAT rules that supervision and efficiency test charges paid to overseas suppliers can’t be included in the assessable value for customs duty.
