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Inconsistent Application of Customs Valuation Rules: CESTAT Sets Aside Order

September 19, 2023 609 Views 0 comment Print

Analyze the CESTAT Mumbai order in S K Universal Pvt Ltd vs. Commissioner of Customs, highlighting the determination of ‘cut and polished diamonds’ value and its consistency with Customs Valuation Rules.

Penalty Imposed Solely on Estimated Profit Addition is not justified

September 19, 2023 1137 Views 0 comment Print

ITAT Mumbai’s ruling on penalty for concealed income based on estimated additions. Analysis of case, legal arguments, and conclusion.

Undisclosed Income Taxed in Flagship Company Not Taxable in Assessee Companies

September 19, 2023 1545 Views 0 comment Print

Discover the Delhi High Court’s ruling in the case of PCIT vs. Surya Agrotech Infrastructure Limited regarding undisclosed income taxation and double taxation.

CESTAT Orders Refund of Security Deposit Due to Commissioner’s Penalty & Confiscation Reversal

September 19, 2023 762 Views 0 comment Print

In the case of Ishwar Chand Gupta vs. Commissioner of Customs (CESTAT Kolkata), learn how CESTAT directed the refund of a security deposit after confiscating a truck transporting Red Sander Wood.

ITC reversal rules for destroyed raw materials and finished goods

September 17, 2023 50961 Views 1 comment Print

Read GST AAR Telangana’s ruling on input tax credit (ITC) reversal rules for destroyed raw materials and finished goods. Understand ITC eligibility in such cases.

GST HSN Code Ruling for Electric Vehicles & Spare Parts

September 17, 2023 21099 Views 0 comment Print

Read GST AAR Telangana’s ruling on HSN codes for electric vehicles and electrical & mechanical spare parts. Clear classification guidelines provided.

SC issues notice on discontinuation of video conferencing in High Court & Tribunals

September 17, 2023 2214 Views 0 comment Print

Supreme Court of India issues notices on the discontinuation of video conferencing in High Courts and various Tribunals, seeking information on hybrid hearings. Next hearing on 6th October, 2023.

CESTAT quashes penalty on CISF due to lack of clarity on service tax liability

September 16, 2023 1065 Views 0 comment Print

CESTAT Ahmedabad quashes penalty on Central Industrial Security Force (CISF) due to lack of clarity on service tax liability. Learn more in this article.

CCI Closes Case Against DEN Networks Ltd. – Cable TV Market

September 15, 2023 1383 Views 0 comment Print

CCI closes case filed by Sobhagaya Media Pvt. Ltd. against DEN Networks Ltd., citing a lack of evidence for excessive carriage fees in cable TV market.

Taxing Agricultural Income Under Section 153C: Role of Incriminating Material

September 14, 2023 711 Views 0 comment Print

Exploring the key takeaways from the ITAT Chennai ruling in Duraisamy Parameswaran Vs ACIT, focusing on how agricultural income is treated under Section 68 of the Income Tax Act.

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