Income Tax : CBDT hasd vide Notification No. 129/2021-Income Tax dated 01.11.2021 and under section 245D (11) & 245D (12) of the Income-tax...
Income Tax : Budget 2021- It is proposed to discontinue Income-tax Settlement Commission (ITSC) and to constitute Interim Board of settlement f...
Income Tax : Finance Bill 2021- Paradigm Shift In The Provisions Relating To Income Tax Search And Seizure Assessments And Income Tax Settlemen...
Income Tax : Income Tax Search and Seizure & Income Tax Settlement Commission (ITSC)- Detection of any undisclosed income subsequent to the...
Income Tax : Find out how the Income Tax Settlement Commission (ITSC) can help settle tax liabilities and avoid lengthy litigation....
Income Tax : The Income Tax Settlement Commission, Ministry of Finance , has settled over 15000 tax disputes involving over 1.35 lakhs tax proc...
Income Tax : The Ministry of Revenue has intimated that some posts of Members of the Settlement Commission are vacant and due to be filled shor...
Finance : Loan defaulters will now find it difficult to rid themselves of all their liabilities through the one-time settlement scheme. Publ...
Income Tax : Delve into the crucial judgment of Orchid Infrastructure Developers Pvt Ltd Vs PCIT, where the Delhi High Court ruled against reop...
Income Tax : Kerala High Court dismisses a writ petition for failing to meet Section 245C(1) of the Income Tax Act, emphasizing full and true i...
Income Tax : ITAT Ahmedabad held that addition towards unexplained expenditure unsustainable as impugned amount has already been surrendered by...
Income Tax : Supreme Court upheld an order by Settlement Commission granting immunity from penalty and prosecution, emphasizing importance of ...
Income Tax : Supreme Court held that while setting aside the order of Settlement Commission, High Court could have remanded the matter to the S...
Excise Duty : Customs, Central Excise & Service Tax Settlement Commission – A Filip to Alternative Dispute Resolution Mechanism for ex...
Income Tax : 4, Retirement from parent service on appointment as Chairman or Vice-Chairman or Member.— (1) Where, a Member, on the date of...
Income Tax : Notification No. 5/2014-Income Tax All the material and other information produced by the assessee before the Settlement Commissio...
Yes. As discussed supra. A return of production, clearance and duty paid in the prescribed manner, is a statutory requirement. In the absence of a specific reference in Section 32E to ER1/ER3 i.e. monthly/quarterly returns prescribed under Rule 12 of the Central Excise Rules, since the ‘declaration’ filed by a small scale manufacturer also contains the basic particulars of estimated production and clearances though not the duty paid, as the product is totally exempt, and keeps the Department aware of the bona fide existence of the applicant, the yearly declaration can be deemed to serve the purpose of ‘return’, in so far as Sec. 32E(1) of the Central Excise Act is concerned.
