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Explained Gold Jewellery in Survey cannot be treated as Unexplained Investment

October 25, 2023 828 Views 0 comment Print

ITAT Chennai’s ruling in the case of Fathima Jewellers vs. DCIT clarifies that excess gold jewellery stock found during a survey isn’t unexplained investment under IT Act.

Mis-declaration cannot be alleged with Incomplete Evidence & Violation of Natural Justice

October 25, 2023 1368 Views 0 comment Print

CESTAT Ahmedabad ruled that mis-declaration allegations without complete evidence and violation of natural justice cannot be upheld.

CBDT Circular doesn’t Apply to Non-Penny Stock Share Transactions

October 25, 2023 1197 Views 0 comment Print

DCIT vs. Krishan Kumar case: ITAT Delhi dismisses appeal by the Department regarding share transaction, ruling it doesn’t fall under the CBDT Circular exception.

No Consumer Complaints Against Revenue for Excess GST Levy: Madras HC

October 24, 2023 1380 Views 0 comment Print

Madras High Court’s ruling: Consumers can’t file complaints against the Revenue Department for excessive GST levied by hotel managements. Learn more here.

Denial of Excise Duty Refund for a Genuine Interpretation Error Unjustified

October 24, 2023 357 Views 0 comment Print

CESTAT Chandigarh rules in favor of Souvenior Ceramics, granting exemption from excise duty for castable refractory goods supplied to power projects. Detailed analysis here.

CESTAT denies Excise Duty Refund due to Unmet Burden of Proving No Unjust Enrichment

October 24, 2023 408 Views 0 comment Print

The CESTAT Ahmedabad addresses a case involving a refund dispute related to abatement and excise duty, emphasizing the need for clear evidence and transparency.

GST: Intent to Evade Tax a Prerequisite for Sections 129 & 130 Proceedings

October 24, 2023 3483 Views 0 comment Print

Explore the case of Shyam Sel And Power Limited vs. State of U.P. in Allahabad High Court. The verdict emphasizes the role of intent in invoking CGST Act provisions.

Section 56(2)(vii)(b) Not Applicable to Companies before 01.04.2017

October 24, 2023 2082 Views 0 comment Print

ITAT Delhi’s decision regarding applicability of Section 56(2)(vii)(b) to companies before April 1, 2017 in case of Rhythm Polymers Pvt. Ltd. vs. PCIT.

Interest Component Inescapable Despite Wrong PAN in SEBI order

October 24, 2023 414 Views 0 comment Print

Madras High Court rules on SEBI penalty case, stating that incorrect PAN doesn’t exempt payment of interest. Legal analysis of the case provided.

CESTAT Grants Relief to Insurer, Allowing Closure U/s. 73(3) of Finance Act

October 24, 2023 639 Views 0 comment Print

Read about the CESTAT Hyderabad decision in Shriram Life Insurance vs. Commissioner of Customs case. CESTAT quashes service tax demand, citing Section 73(3) of the Finance Act.

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