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Manufacturing exporters has little scope for utilization of accumulated CENVAT credit

June 29, 2022 927 Views 0 comment Print

Explore the CESTAT Mumbai ruling in Raychem RPG Pvt Ltd vs Commissioner of GST case on CENVAT credit refund. Detailed analysis of eligibility, rejection reasons, and legal perspective.

Fabrication of e-way bill on GST Portal: HC Grants Bail to Accused

June 29, 2022 1011 Views 0 comment Print

The applicant also in a fraudulent manner created records on the GST website and fabricated e-way bills and other documents. Therefore, the applicants do not deserve to be released on bail and the applications deserve to be rejected.

Reopening reasons have to be read on standalone basis

June 29, 2022 675 Views 0 comment Print

Reopening reasons have to be read on standalone basis without any scope of addition, deletion or substitution therein even if supportive material emerges at a later stage.

No section 68 addition if Assessee Proves Authenticity of Transaction with Evidence

June 29, 2022 1260 Views 0 comment Print

Rupal Jain Vs ACIT (ITAT Delhi) We notice that the assessee has not only discharged the primary onus by filing confirmation and the IT returns and balance sheet of the lenders, the assessee is also stated to have paid interest in most of the cases and deducted TDS thereon. Noticiably, the lenders are the family […]

TNVAT: Interest Demand should be within a reasonable period of time

June 29, 2022 3312 Views 0 comment Print

Madras High Court ruling on interest levies under TNVAT, TNGST, and CST Acts, emphasizing timely payment of admitted taxes to avoid interest after four years.

AO cannot change prescribed valuation method opted by assessee- Rule 11UA(2)

June 29, 2022 2583 Views 0 comment Print

Explore the implications of Town Essential Pvt. Ltd. vs. CIT (ITAT Bangalore) case. Learn about fair market value, valuation methods, and the significance of the ITAT ruling.

Only due to mention of PAN, credit or transaction cannot be attributed to assessee

June 29, 2022 7215 Views 0 comment Print

Explore the Madhav Kumar Swarup vs. ACIT case where the attribution of credit card expenditure is contested. Detailed analysis and conclusions provided.

Advance Ruling under GST cannot be sought after Receipt of SCN

June 29, 2022 852 Views 0 comment Print

Application is liable to be filed under section 97 for obtaining the advance ruling in advance not during the pendency of any issue before the authority.

Smuggling of liquor in BIhar: HC grants Bail to driver of truck

June 29, 2022 2811 Views 0 comment Print

Explore the Patna High Court decision granting provisional bail to Rahul Yadav in an Excise Case involving illicit liquor. Case details, analysis, and conditions for bail.

Refund of security deposit to Broker Dealers on surrender of membership

June 28, 2022 2955 Views 1 comment Print

On approval of application for surrender of Broker Dealer’s registration by IFSCA, the Stock Exchange shall release Security Deposit of the Broker Dealer (engaged in trading on behalf of clients) after twelve months from the date of approval of surrender application by IFSCA.

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