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Tariff Notification No. 55/2022-Custom (N.T.), Dated: 30.06.2022

June 30, 2022 1377 Views 1 comment Print

Tariff Notification No. 55/2022-Custom (N.T.), Dated: 30.06.2022 on Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi, the 30th June, 2022 Notification No. 55/2022-Custom (N.T.) S.O. 2960(E).—In exercise of the powers conferred by sub-section (2) […]

RTI Act – No Penalty for Destruction of Information in Absence of Malafide

June 30, 2022 873 Views 0 comment Print

It was submitted by appellant that as per the provisions of Section 20(2) of the Right to Information Act, 2005 (RTI Act) the record of the deceased petitioner, which has been illegally destroyed, appropriate penalty may be imposed upon the respondent.

Assessment based on belated Section 143(2) notice is invalid

June 30, 2022 1725 Views 0 comment Print

Roshan Lal Verma Vs DCIT (ITAT Delhi) The validity of impugned assessment order resulting in present appeal is under challenge on the grounds of notice issued under Section 143(2) purportedly barred by limitation. It is the case of the assessee that, in the instant case, assessee has filed the return of income on 14.10.2011 and […]

Rule 6(3) of CCR, 2004 not applicable to electricity generated out of waste

June 30, 2022 1980 Views 0 comment Print

Vandana Global Ltd. Vs Commissioner of Central Excise and Service Tax (CESTAT Delhi) Whether for the electricity generated by the appellants for captive consumption, some part whereof has been sold to state electricity body, the appellants are not liable to take the credit on such amount of electricity as has been sold out. It is […]

Unjust Enrichment not Applicable to Pre-Deposit Refund

June 30, 2022 2118 Views 0 comment Print

Rejection of refund claim against pre-deposit, in compliance to Section 35F (Pre 2014 amendment)- Payment made towards discharge of duty confirmed alongwith interest and penalty was in the form of pre-deposit so as to acquire right of appeal and doctrine of unjust enrichment will not be applicable in respect of such deposit,

Section 127B Customs: HC explains who can file Application To Settlement Commission 

June 30, 2022 2889 Views 0 comment Print

Halliburton Offshore Services Inc. Vs Union of India (Bombay High Court) The word ‘case”’ used in Section 127-B of the Customs Act, 1962 is defined u/s 127-A(b) to mean any proceeding under this Act or any other Act for the levy, assessment and collection of customs duty, pending before an adjudicating authority on the date […]

No Section 41 Disallowance if no Cogent Evidence of Cessation of Liability

June 30, 2022 609 Views 0 comment Print

Jain Peripherals Pvt. Ltd. Vs DCIT (ITAT Delhi) Section 41 postulates disallowance of cessation of liability for expenditure incurred in trading account earlier. In the present case, disallowance has been made by the AO and confirmed by the ld. CIT(A) on the plank that the purchases are not genuine. In our considered opinion, the issue […]

Amendment in Export Policy of Motor gasoline

June 30, 2022 876 Views 0 comment Print

Amendment in Export Policy of Motor gasoline items under HS Codes 27101241, 27101242, 27101243, 27101244, 27101249, 27101941, 27101944 and 27101949

IFSCA (Banking) (Amendment) Regulations, 2022

June 29, 2022 2085 Views 0 comment Print

These regulations may be called the International Financial Services Centres Authority (Banking) (Amendment) Regulations, 2022.

CA Exam Paper Leak Case of 2007: Court convicts 3 persons

June 29, 2022 12411 Views 0 comment Print

The ICAI under Chairmanship of G. Soma Shekher sent representative to ascertain the facts from India TV News Channel and upon finding material of paper leak, lodged the present FIR. Investigation was carried out and considering the gravity of the same, investigation was taken up by the Crime Branch department.

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