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Archive: July, 2026

Posts in July, 2026

Gold & Silver rates as on 01.04.1981 & From 31.03.2008 to 31.03.2026

July 4, 2026 524565 Views 9 comments Print

Explore the latest gold and silver rates together with prescribed reductions for valuing gold ornaments. The document also provides silver valuation notes, conversion tables and an official disclaimer.

GST Appeal Allowed Despite Delay Where Order Was Only Uploaded on Common Portal: Madras HC

July 4, 2026 246 Views 0 comment Print

Madras High Court allowed a delayed GST appeal, observing that portal upload alone should not deprive a small businessman of an effective opportunity to appeal.

EOU Exemption Cannot Be Denied for Capital Goods Used in Integral Quarrying Operations: CESTAT Bangalore

July 4, 2026 165 Views 0 comment Print

CESTAT held quarrying formed part of manufacture for exported granite products, restoring EOU duty exemption and setting aside customs and excise demands.

Excise Duty Payable on Royalty Within Normal Limitation; Stowing Excise Duty Not Taxable: CESTAT Kolkata

July 4, 2026 141 Views 0 comment Print

CESTAT held that while excise duty on royalty was payable for the normal period, no interest could be levied and duty on Stowing Excise Duty was set aside.

Profit Already Disclosed & Taxed Cannot Be Added Again as Undisclosed Income: ITAT Delhi

July 4, 2026 228 Views 0 comment Print

ITAT held that business profit already disclosed in the income tax return cannot be added again as undisclosed income. The duplicate addition was deleted.

GST Refund Cannot Be Withheld Merely on Possibility of Future Appeal: Orissa HC

July 4, 2026 459 Views 0 comment Print

Orissa HC held that refund cannot be refused merely because the State might appeal, where no appeal or proceeding was pending on the relevant date.

Composite Works Contracts Not Taxable Under ECIS Before 1 June 2007: CESTAT Hyderabad

July 4, 2026 150 Views 0 comment Print

CESTAT held composite works contracts were not liable to service tax before 1 June 2007, quashing the demand, interest, and penalties.

Section 12A Registration Cannot Be Denied for Absence of Irrevocability Clause: ITAT Delhi

July 4, 2026 258 Views 0 comment Print

ITAT held that the Commissioner must assess the genuineness of activities and charitable objects instead of rejecting registration solely for the absence of an irrevocability clause.

Cost-to-Cost Overseas Reimbursements Without Profit Element Not Taxable as FTS: ITAT Delhi

July 4, 2026 258 Views 0 comment Print

ITAT Delhi held that IT, salary and travel reimbursements without any profit element were not taxable and deleted the disallowance under Section 40(a)(i).

Section 148 Reassessment Based on Pre-2021 Third-Party Search Material Invalid; Section 153C Mandatory: ITAT Kolkata

July 4, 2026 375 Views 0 comment Print

ITAT held reassessment under Sections 147/148 invalid because it was based on a pre-1 April 2021 third-party search, requiring proceedings under Section 153C.

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