Delhi High Court held that the interest received on borrowed funds, which were temporarily held in interest bearing deposit, is a part of the capital cost and is required to be credited to Capital Work-in-Progress.
A person residing in USA desirous of transferring money to an individual or an entity in India, approaches a branch or an outlet of the assessee and transfers the money in USDs, together with the charges prescribed by the respondent-assessee.
Delhi High Court quashes GST order for Anant Wire Industries, citing non-compliance with SCN service requirements and remands case for reconsideration.
Delhi High Court allowed the petition for waiver of mandatory pre-deposit under section 35F of the Central Excise Act, 1944 since demand qualifies the test of rare and exceptional case. Thus, writ allowed.
Delhi High Court ruled charitable institution’s activities prima facie do not qualify as taxable supply or business under the CGST Act, 2017.
Delhi High Court held that arrest of petitioner involved in availment of input tax credit against fake invoice illegal and set aside the remand order since various discrepancies were noticed in arrest procedure followed by the department.
Delhi High Court held that supply of helicopters to Andaman and Nicobar Islands Administration without transfer of right to use not exigible to tax under section 2(g)(vi) of the Central Sales Tax Act, 1956 [CST Act].
Delhi High Court held that levy of Integrated Goods and Services Tax (IGST) on ocean freight is unconstitutional. Accordingly, directed department to refund service tax paid on ocean freight during April to June 2017.
The assessee had adopted Transactional Net Margin Method (TNMM) as the most appropriate method and Operating Profit/ Operating Cost [OP/OC] as the Profit Level Indicator for benchmarking the international transactions.
Delhi High Court held that AO has erroneously added value of transaction while calculating income that could possibly have escaped assessment. Accordingly, order set aside and matter remanded back to AO for fresh consideration.
