According to the department, the overvalued export was used by the exporter to fraudulently procure DEPB scrips from the Directorate General of Foreign Trade and subsequently these DEPB scrips were sold in the open market and were thereafter used by companies to import goods without payment of duty.
CESTAT Delhi held that penalty u/s. 114 of the Customs Act can be levied only if the goods are held liable to confiscation u/s. 113 of the Customs Act. Here, as the confiscation cannot be sustained, penalty u/s. 114 of the Customs Act cannot also be sustained.
Bangalore ITAT revives a trust’s 12AB registration plea, stating that a religious label doesn’t disqualify a trust and directing fresh verification of charitable activities.
ITAT Bangalore rules that a rejection letter under Section 154 is an appealable order, directing the CIT(A) to hear the appeal on merits after it was dismissed on technical grounds.
Madras High Court held that input tax credit [ITC] which is barred by limitation in terms of Section 16(4) of the Central Goods and Services Tax Act, 2017 [CGST Act], but, within the period prescribed in terms of Section 16(5) of the CGST Act cannot be denied.
Delhi High Court’s landmark ruling on taxation of Category III Alternative Investment Funds, impacting India’s hedge funds with clarity on CBDT Circular 13/2014.
ITAT Delhi rules an income tax assessment is invalid if the Section 143(2) notice was not issued in the CBDT’s mandatory revised format. This jurisdictional defect voids the entire assessment proceeding.
ITAT Delhi ruled Rasha Welfare Foundation’s EV initiative is charitable, not commercial, upholding 12AA & 80G registration. Focus on genuine activity, not incidental income.
Karnataka High Court set aside a customs duty demand of Rs. 1.02 crore against IPC Packaging Company Pvt Ltd, citing a breach of natural justice by tax authorities.
West Bengal GST AAR rejects Sourav Dey’s advance ruling application on pulse de-husking GST liability after the applicant withdrew the request and failed to appear for hearings.
