Amendment in Central Excise Notification 11/2017: New tax rates for Blended Aviation Turbine Fuel under the RCS-UDAN scheme. Effective from October 29, 2024.
Explore the evolution, human impact, and conservation of aquatic habitats. Learn about major threats, innovative approaches, and efforts to protect vital ecosystems.
CBIC initiates a program to enhance behavioral skills and sensitivity among 35,000 officers nationwide, alongside efforts in anti-evasion and customs advancements.
The CBI alleged that the bank’s senior management, including Sridhar, sanctioned large credit facilities such as short-term loans, Letters of Credit, and Export Packing Credit to the company without proper due diligence.
Assessee was engaged in the business of purchasing and renting properties, as also the entire income of the assessee was based on the income received from leasing its properties.
CESTAT Delhi held that initiation of proceedings against customs broker for violation of regulation 11(d) and 11(n) of CBLR, 2013 not justified as CHA not required to enquire and verify the genuineness of IE code given to it by a client for each import/export transaction.
ITAT Ahmedabad held that taxation must be based on income that has actually accrued or arisen. Thus, addition towards decentralized grants merely routed assessee and simply transferred to other government agencies as per GOG’s directions is unsustainable.
Delhi High Court held that goodwill could be considered as an intangible asset and the same is eligible for depreciation. Assets acquired de-valued, hence balance amount treated as intangible asset and the same is eligible for depreciation.
ITAT Ahmedabad held that addition towards bogus purchases made without proper verification of facts but just on the basis of suspicion, surmises and unverified information unjustified and liable to be deleted.
Allahabad High Court in the case of CIT vs. U P Hotels Pvt. Ltd. has held that in case assessee has not claimed any deduction in respect of its liability for payment of luxury tax, no question of addition under section 43B will arise.
