CA Saurabh Chokhra's Posts - Page 8

VCES 2013: Even 6 days delay cannot be condoned

M/s Kasmisons Builders Private Limited Vs Assistant Commissioner of Service Tax (Kerala High Court)

HC held that Voluntary Compliance Encouragement Scheme (VCES) was in the nature of an Amnesty Scheme and, therefore, its provisions have to be strictly interpreted. Infact, the scheme was a settlement between the assessee and the department and from the terms of the settlement neither party can be permitted to retract....

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Transactions having contingent impact on profit/ losses are not international transactions

Siro Clinpharm Private Limited Vs DCIT (ITAT Mumbai)

The ITAT bench of Mumbai in the above cited case law held that any contingent impact on profit/loss would not take the transaction to fall within the purview of international transaction. In the present case...

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Mobilization expenses to move assets to client’s premises allowable as revenue expenditure

Dewanchand Ramsaran Industries Pvt. Ltd. Vs ACIT (ITAT Mumbai)

The ITAT bench of Mumbai in the above cited case held that when the assessee company in its continuing and existing business of chartered hiring of rigs imported new rigs to be moved to and installed at the site of the clients desirous of taking the same on hire for oil drilling, all the mobilization expenses which is in connection with t...

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Understanding GST from scratch

What is GST? Why GST is a need for India? ♠ GST stands for Goods & Service Tax. GST is a destination based consumption tax levied at multiple stage of production & distribution of goods & services in which taxes paid on inputs are allowed as set-off against taxes payable on output. Thus, GST will be a single comprehensive integrated ind...

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Family Pension claim not acceptable if option to join scheme was not exercised

Ganesh Prasad Mishra Vs Commissioner EPF Organization (Madhya Pradesh High Court at Indore)

The Hon'ble MP High court in the above stated case placing reliance on the decision of Hon'ble Supreme court in the case of Rajasthan State Road Transport Corporation vs. President, Rajasthan Roadways Union & Anr....

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International transaction not resulting into income to assessee not subject to TP regulations

M/s. Topsgrup Electronic Systems Ltd. Vs ITO (ITAT Chennai)

The ITAT bench of Mumbai in the above cited case held that investment in share capital of a subsidiary being an international transaction on capital account does not result in income as defined under section 2(24) of the Act, the Transfer Pricing provisions a would not be applicable to such transaction. Further, in the absence of thin ca...

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Service tax on admission to amusement facilities is constitutional

M/s Kanjirappilly Amusement Park and Hotels P. Ltd. Vs UOI, CCEx and State of Kerala (Kerala High Court)

Kerala High Court held that levy of service tax on admission to amusement facilities do not result into any trenching of Union Parliament on power conferred on State as two aspects taxed by respective legislatures are 'service' and 'amusement' and no law is invalid in taxing its respective aspect even when same activity being getting tax...

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Delay in filing return due to sufficient cause should be condoned

M/s Regen Infrastructure & Services Pvt. Ltd. Vs CBDT , CIT & ITO (Madras High Court)

The Hon'ble Madras High court in the above cited case held that in deciding the application for condonation of delay in filling return of income the approach of the CBDT should be justice oriented so as to advance the cause of justice....

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Small tobacco pouches weighing less than 10 grams not subject to RSP based assessment

CCE , Delhi Vs M/s Shakti Zarda Factory (India) Pvt. Ltd. (CESTAT Delhi)

CESTAT held that tobacco manufactured and packed in small pouches of 6-7 grams and again packed in a bigger packet are not subject to valuation based on retail price as the small pouches weighing less than 10 gms are exempt from requirement of fixation of retail sale price under Rule 34 of the Standards of Weight & Measurement Act....

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Export of duty free goods procured alongwith export goods not mandatory under N/N. 43/2001-CE

M/s Ambika Sovex Vs CCE (CESTAT Delhi)

The CESTAT New Delhi in the above cited case held that procurement of duty free goods under notification no 43/2001 is subject to condition of the use of such goods in the manufacture or processing of goods to be exported....

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