Jagdalpur Motors Vs Union of India (Chhattisgarh High Court) HC held that undoubtedly the petition became entitled for submitting of his Form Tran-1 and Tran-2 in terms of the order of the Supreme Court in case of Union of India Vs. Filco Trade Centre (Supra). It is also an admitted factual position that the period […]
Desmet Reagent Pvt. Ltd Vs Commissioner of Central Goods (CESTAT Delhi) Appellant urges that there is no disability provided under Rule 3 of CCR that Cenvat Credit shall not be available, if the duty is paid in the case of import through utilization of DEPB scrips. Rather Rule 9 of CCR specifically provides that one […]
Sai Charan Tours & Travels Vs Commissioner of Customs (CESTAT Mumbai) The only issue before us is the mandate to produce the certificate insisted upon as condition for provisional release from among the prescriptions in the licencing notes pertaining to imported vehicles. The Tribunal, in Excellent Betelnut Products Pvt Ltd v. Principal Commissioner of Customs, […]
Hanuman Prasad & Sons Vs DCIT/ACIT/ITO (ITAT Allahabad) In this case assessee has not only replied the notice but also replied to the letter issued by AO. After considering the reply of the assessee, the Assessing Officer framed the assessment under section 143(3) on 28th December, 2019. Once the assessee has made the compliance though […]
Admittedly, the AO deployed Inspector to verify whether there is any construction/residential house constructed by the assessee. The Inspector submitted report on 19-12-2016 stating that no construction or residential house is existing at House No. 4, Ward No. 12, Ichalkaranji which clearly establishes the assessee could not construct a house within three years from the date of sale of its assets on 17-03-2011 till 19-12-2016. Therefore, the assessee made construction within three years and in my opinion, the AO rightly denied deduction u/s. 54F of the Act.
DCIT Vs Ashoka Dhankuni Kharagpur Tollway Ltd (ITAT Pune) Revenue’s sole substantive grievance raised in the instant appeal challenges correctness of the CIT(A)’s action reversing assessment findings dated 21.12.2019 disallowing the assessee’s depreciation claim amounting to Rs.3,47,61,85,194,/- pertaining to its ‘right to collect toll’ as an intangible asset under section 32(1)(ii) of the Act. The […]
CBIC notifies Customs Exchange rate for Import & Export wef 2nd December, 20222 vide Exchange rate vide Notification No. 101/2022 – Customs (N.T.) | Dated: 1st December, 2022. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS New Delhi ***** Notification No. 101/2022 – Customs (N.T.) | Dated: 1st […]
SKF Engineering & Lubrication India Pvt. Ltd Vs JCIT (ITAT Bangalore) The assessee during the year under consideration has made a provision for liquidated damages for an amount of Rs. 49,20,000/-. The AO during the revision proceedings has disallowed the said amount on the basis that the calculation of liquidated damages is based on percentage […]
The validity of recognition of the Pre-Shipment Inspection Agency (PSIAs) included in Appendix 2G of Appendices and Aayat Niryat Forms (A & ANF) of Foreign Trade Policy 2015-20 which arc completing their original tenure of three years as on 03.12.2022 is extended upto 31.12.2022.
Annual SCOMET Update – 2022 has been notified to amend Appendix 3 (SCOMET Items) to Schedule-2 of ITC (HS) Classification of Export and Import Items, 2018 vide Notification No. 46/2015-2020|Dated: 30th November, 2022 Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Vanijya Bhawan New Delhi Notification No. 46/2015-2020|Dated: […]
