Undisputedly, invoking the provisions of section 56(2)(viia) of the Act, the Assessing Officer has treated the difference between the sale price and FMV of the shares of the assessee as income of the assessee.
Issue involved in this case is valuation of waste/bye-product and the applicability of cum-duty price for the goods cleared. There is no dispute regarding liability of Central Excise duty.
The name of Maharatta Chamber of Commerce & Industries, enlisted under Appendix 2E of FTP 2023, has been amended as `Mahratta Chamber of Commerce Industries and Agriculture’ and branch offices, address and contact details have been updated.
The appellants had to undertake the transportation of tractors from premises of Punjab Tractors Ltd to their dealers and in the bargain they may appoint drivers for the work. Appellants were required to take all responsibilities on the way.
Advancing reasons for non-payment of service tax even though collected, it has been submitted by the appellant that during the relevant period, they were under severe financial crisis. In my view, this cannot be a reasonable cause for non-payment of service tax even though collected from the customers but not deposited with the Government.
ITO Vs Marda Associates (ITAT Kolkata) CIT (A) held that A.0. misunderstood that the benefit/ incentive/additional margin passed on by the appellant through credit notes was in the nature of commission. He further, misunderstood that discount/ additional margin could be given only on the invoice and not post invoice. It is submitted that the commission […]
Petitioner submitted that it is correct that for part of GST Refund Claim claim which has been rejected refund was sought after a period of two years
Request for permission to go abroad. HC rejected request only for one reason that application filed by department for cancellation of bail is pending before Court of Sessions.
Appellants are not the manufacturer of Aluminium scrap and they have only imported the scrap for manufacture of Aluminium ingots.
HC held that orders of assessment suffer from violation of principles of natural justice. Correspondence between parties establishes that petitioner was cooperating with proceedings for assessment.
