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ITAT Hyderabad allows 75% of Overburden Removal Expenditure

November 29, 2023 423 Views 0 comment Print

Explore the ITAT Hyderabad order on Veerabhadra Minerals Pvt Ltd’s appeal against the disallowed overburden removal expenditure. Learn about the assessing officer’s concerns, CIT(A)’s decision, and ITAT’s direction to delete 75% of the addition. Get insights into the reasoning and implications for mining contracts.

No CENVAT Credit denial To Service Recipient Without Opening Assessment of Service Provider 

November 29, 2023 645 Views 0 comment Print

Explore the crucial CESTAT Mumbai ruling in Tata AIG vs. Commissioner of Service Tax. Learn why denying CENVAT credit without assessing service providers is deemed unsustainable. In-depth analysis, legal insights, and the impact on general insurance services.

RBI Excludes Rupee Co-operative Bank: Latest Notification 2023

November 29, 2023 540 Views 0 comment Print

Read the Reserve Bank of India’s latest notification dated November 29, 2023, excluding Rupee Co-operative Bank. Explore the impact and reasons behind this decision.

CESTAT Chandigarh Quashes Excise Duty Demand on ground of Limitation

November 29, 2023 489 Views 0 comment Print

Read the full text of CESTAT Chandigarh’s order quashing excise duty demand on auto parts manufacture by NTF (India) Pvt. Ltd. Explore the legal battle, key arguments, and the final verdict.

ITAT allows Rental Expenses for Property taken on Rent for Business Purpose

November 29, 2023 528 Views 0 comment Print

ITAT allows Rental Expenses for Property taken on Rent for Business Purpose. Learn about the ruling on Appeal by the Revenue for AY 2014-15. Google ITAT Order for Delhi.

Quantity of bulk liquid cargo actually received into a shore tank should be the basis for payment of customs duty

November 29, 2023 372 Views 0 comment Print

Explore the Chemplast Sanmar Ltd. vs. Commissioner of Customs case. Learn why the quantity of bulk liquid cargo in the shore tank determines assessable value for customs duty.

Physician Samples Valuation: Rule 4 of Central Excise (Valuation) Rules, 2000 Applicable

November 29, 2023 150 Views 0 comment Print

Explore the CESTAT Bangalore order on Elvina Pharmaceuticals Ltd. vs. Commissioner. Learn about the correct valuation method for physician samples under Central Excise rules.

Bombay HC quashes Reassessment against Non-Existent Entity with Active PAN

November 26, 2023 2646 Views 0 comment Print

Learn about Bombay High Court’s Quashing of Reassessment notice by the Tax Department against a non-existent entity with an active PAN in this AY 2016-17 and AY 2017-18 case study.

No tax on Loan Waiver for Capital Assets Acquisition under Section 28(iv): ITAT

November 26, 2023 1125 Views 0 comment Print

ITO Vs Meyer Apparel Pvt. Ltd (ITAT Delhi): Loan waiver for capital assets not taxable under Sec 28(iv) or 41(1) as cash receipt; not a remission of trading liability.

Failure to Consider GST Portal Details & Returns Bars Initiation of Demand Proceedings: Allahabad HC

November 26, 2023 1002 Views 0 comment Print

Know complexities of GST regime with Rama Brick Field vs. Additional Commissioner case. Allahabad HC highlights failure to consider GST portal details & returns bars initiation of demand proceedings.

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