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Abatement Notification benefit cannot be denied for Mismatch in Purchase Quantum

November 7, 2022 732 Views 0 comment Print

Jay Gurudev Construction Co Vs C.C.E. & S.T.-Rajkot (CESTAT Ahmedabad) Issue involved is if the appellants are entitled to benefit of Notification No. 15/2004- ST for the period 2005-06 and 2007-08. It is noticed that the benefit has been denied by the Commissioner (Appeals) on the ground that the appellant has failed to produce any […]

Allowability of Bonus as Part of Partners Remuneration- ITAT restores matter to CIT(A)

November 6, 2022 1281 Views 0 comment Print

ITAT Patna partly allows appeal of Anil Kumar Singh. Orders restoration of the claim of remuneration, including bonus, based on Partnership Deed under Section 40(b)(v).

Section 154- No legal or factual issue on merits can be argued or re-argued if issue is highly debatable

November 6, 2022 804 Views 0 comment Print

Raymold Lighting Pvt. Ltd. Vs ITO (ITAT Chennai) ITAT noted that this appeal is against the rectification order passed by A.O and the impugned order by CIT(A) on this order of rectification u/s. 154 of the Act dated 27.09.2017. We noted that in the original appeal filed before CIT(A) by the assessee, the assessee has […]

Global Trade Development Activity Expenses allowable: ITAT Delhi

November 6, 2022 516 Views 0 comment Print

ACIT (E) Vs National Association of Software and Service Companies (ITAT Delhi) GTD expenses, Global Trade Development Activity is an on-going program primarily for strengthening the ‘India’ brand, to put and maintain the status of the India IT-BPO industry on the map of the world, by strengthening its credentials in the specific international market, as […]

HC disposes petition with a direction to recompute GST interest – Section 50

November 6, 2022 1038 Views 0 comment Print

V.L.S. Fibre Vs Assistant Commissioner of GST & Central Excise (Madras High Court) Heard Ms.S.Sarojini, learned counsel for Mr.R.Anish Kumar, learned counsel on record for the petitioner and Mr.A.P.Srinivas, learned Senior Standing Counsel for R1 and R2. 2. The challenge is to a notice of demand of interest under Section 50 of the Central Goods and […]

Public Notice No. 34/2015-2020-DGFT – Related to notification of PSIA

November 3, 2022 1980 Views 0 comment Print

03 Agencies are notified as PSIA, additional areas of operation for 05 existing PSIAs and additional instruments in respect of 03 existing PSIAs have also been notified. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Vanijya Bhawan, New Delhi Public Notice No. 34/2015-2020-DGFT |Dated : 3rd November, […]

CESTAT upheld penalty on cenvat credit availed on input service used for manufacture of exempted goods

November 3, 2022 432 Views 0 comment Print

Sakthi Sugars Ltd. Vs Commissioner of GST & Central Excise (CESTAT Chennai) With regard to cenvat credit of input service availed for manufacture of exempted goods, namely, Ethyl Alcohol, the only argument put forward by the Ld. Counsel for appellant is that they had availed credit by inadvertent mistake. The said mistake would not have […]

Section 148A(d) Order without considering responses of petitioner is invalid

November 3, 2022 5844 Views 0 comment Print

Ratnagiri Gas And Power Private Limited Vs ACIT (Delhi High Court) A perusal of the paper book reveals that the petitioner’s responses dated 13th June, 2022, and 30th June, 2022, have not been considered by the AO while passing the impugned order under Section 148A(d) of the Act. 11. Consequently, the impugned order passed under […]

TDS not deductible on EDC Payment to HUDA; Section 271C penalty not imposable

November 3, 2022 1614 Views 0 comment Print

Sirur Developers Pvt. Ltd. Vs JCIT (TDS) (ITAT Delhi) ITAT find that the issue as to whether penalty under section 271C of the Act is leviable for non-deduction of tax on payments made for External Development Charges (EDC) to HUDA came up for hearing before the Tribunal in the case of TDI Infrastructure Ltd. Vs. […]

ICAI incorporates Institute of Social Auditors of India

November 1, 2022 7089 Views 0 comment Print

ICAI added one more feather on its cap by incorporating Institute of Social Auditors of India (ISAI). It has been formed in accordance with decision taken by Council to form Self-Regulatory Organization (SRO) under aegis of ICAI for regulation of social auditors, as per the SEBI (Issue of Capital and Disclosure Requirements) (Third Amendment) Regulations, 2022.

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