CESTAT Chennai held that relevant date of filing refund claim under Rule 5 of the Cenvat Credit Rules in case of export of service is the date of realization of the foreign exchange.
Pratap Joisher Vs ACIT (ITAT Mumbai) ITAT Mumbai held that assessment framed on the basis of ‘base note’ without preferring to collect evidence based on ‘consent waiver form’ is not sustainable in the eyes of law. Facts-On receiving information by the Central Board of Direct Taxes (CBDT) from French Authority under Article 28 of the […]
CESTAT Mumbai held that rejecting exemption benefit and duty demand u/s 28 of Customs Act, 1962 by reassessing ‘cameras’ under general and residual description i.e. ‘others’ under 8525 8090 instead of declared specified classification i.e. 8525 8020 is unjustified.
CESTAT Chennai held that handling of export cargo is excluded from the purview of service tax. The same is not exempted service. In nut-shell, any activity on which no service tax is payable doesn’t make such activity an exempted service.
ITAT Mumbai held that there is a direct nexus between interest received on loan given to firm and interest payment on loan taken from the bank and hence netting of the net interest income allowable under section 57 of the Income Tax Act.
CESTAT Mumbai held that there is no breach of regulation 11(m) of Customs Broker Licensing Regulations, 2013 (CBLR) as the licence is sub-let and two employees of sub-let owner failed to dealt with export consignment.
CESTAT Chennai held that net quantity after adjusting the gain and loss has to be taken for demand of duty in case of petroleum products.
ITAT Hyderabad held that interest income received towards loan extended against mortgage of properties cannot partake the character of rental income.
ITAT Delhi held that scope and ambit of section 44BB of the Income tax Act is wide enough to include receipts of assessee from Cairn India and ONGC in connection with activity of prospecting for, or extraction, or production of mineral oils.
CESTAT Chennai held that service receiver (appellant) not liable to pay service tax invoking provisions of section 66A of the Finance Act under reverse charge mechanism (RCM) as inspection service is performed in India.
