CESTAT Bangalore held that top gas is refuse like dross and skimmings which are merely scum thrown out in the manufacture of aluminium sheets and have been held not to be “manufactured” goods.
ITAT Kolkata held that TPO failed to demonstrate that royalty payment by assessee to Associated Enterprises (AEs) is embedded in the process of the imported goods. Accordingly, upward adjustment thereon unsustainable.
CESTAT Kolkata held that onus cast on appellant u/s 123 not having been discharged, hence concluded that contraband gold smuggled from a third country of origin is liable to absolute confiscation.
Share-Based Payment Transactions (SBT) have become an integral part of modern business practices. These transactions occur when an entity settles payments by issuing equity instruments, such as shares or share options, instead of traditional cash.
Bombay High Court held that attachment of saving bank account and detention of goods in absence of duty demand without service of notice is also without jurisdiction and without any authority of law.
CESTAT Mumbai held that refund of unutilized Cenvat Credit of input services duly available even if there is export without payment of service tax.
ITAT Delhi held that addition under section 69C of the Income Tax Act towards unexplained expenditure based on dumb documents not sustainable in law.
Bombay High Court held that even if the assessee has failed to maintain a separate account it was entitled to reverse proportionate Cenvat Credit. The option of paying an amount equal to 10% of the value of exempted goods could not have been enforced on the assessee.
ITAT Delhi held that deduction under section 54 of the Income Tax Act is allowable based on handing over of possession and not based on payment of consideration. Date of handing over of possession of new property is relevant for deduction u/s. 54.
ITAT Bangalore held that TDS are not applicable as EPFO have not provided rent free accommodation to employees, as employees are paying license fees as per Rules of Govt. of India.
