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HC directs conditional Release of confiscated Areca Nut

January 6, 2024 504 Views 0 comment Print

Department was directed to release the confiscated Areca Nut on condition specified as it were confiscated due to non-submission of E waybill. The bench modified the conditions imposed by the Single Judge.

Sec. 80-IB(10) deduction allowable even in case of belated returns

January 5, 2024 726 Views 0 comment Print

Deduction under section 80IB (10) was allowable to assessee as it had a reasonable & bona fide cause for not filing the return of income within the time permitted under Section 139(1). Once in the given facts, assessee had been held entitled to claim the specifically computed deductions, then it should not be burdened with taxes which it was otherwise not liable to pay under law.

HC allowed benefit of section 279 (1A) compounding of Prosecution In Tax Evasion Case

January 5, 2024 912 Views 0 comment Print

Since the penalty was reduced from 300% to 100% of the tax sought to be evaded, assessee was entitled to the benefit of Section 279(1A) of Income Tax.

Domestically Manufactured Plastic Injection Mould Machine Exempt from Anti-Dumping Duty

January 4, 2024 666 Views 0 comment Print

Assessee-company was engaged in the manufacture of Plastic Injection Moulded Machines (PIMM) and was duly registered with the Central Excise department, having jurisdiction over the factory of such manufacture of the excisable goods.

HC directs Release of confiscated Digital Multifunction Equipment on payment of enhanced Customs Duty

January 4, 2024 732 Views 0 comment Print

The designated authority was directed to release the confiscated Digital Multifunction Equipment on condition that, assessee should pay/deposit the enhanced duty and this order would  not stand in the way for Customs Department to go ahead with the further proceedings including the adjudication in the manner known to Law.

Exclusion of Know-How Fees from Assessable Value in Customs Valuation Rules

January 3, 2024 468 Views 0 comment Print

Charges of Know How agreement were not required to be added to the assessable value of imported goods in terms of Customs Valuation Rules, 1988 as there was no technical know-how fees attributable towards post import related/associated acts and activities and thereby no case arose for scaling up the assessable value with the inclusion of the royalty charges.

Matter remanded to examine issue of Customs Duty Exemption Benefit on re-imported goods

January 3, 2024 504 Views 0 comment Print

Since the appellate authority had failed to examine issue of customs duty exemption Notification No. 45/2017-Cus., which provided different levels / measures of exemption benefits to the re-imported goods depending upon which export benefits, like duty drawback, rebate etc.

Custody of accused was not illegal as production warrant was issued for the said accused on the same date of hearing

January 2, 2024 1080 Views 0 comment Print

When the accused was not produced before a Court on the date of hearing and no production warrant was issued for the said accused on the same date of hearing but was issued subsequently, the custody of the accused would not be in continuum and for the break period, it might be illegal.

Appeal for Refund lies to CESTAT against order passed u/s 142 of CGST Act

January 1, 2024 795 Views 0 comment Print

Even if the service tax had been deposited by the appellant after 01.01.2017, nonetheless the refund of any amount of the CENVAT credit could be claimed only under sub­section (3) of section 142 of the CGST Act and against this order an appeal will lie to the Tribunal.

Liability for dishonour of cheque also on borrower/ taker receiving cash loan beyond specified limit u/s 269SS

January 1, 2024 1371 Views 0 comment Print

No person should accept any loan or deposit of a sum of Rs.20,000/- or more otherwise than by an account payee cheque or account payee bank draft. Where a person advance cash more than Rs.20,000/- to another person, restriction on cash advances was, in fact, on the taker and not on the person who made an advance.

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May 2024