Assessee contended that he had closed operations on 28.07.2017 and sought new registration under M/s Samyak Fashion (India). His provisional GSTIN under M/s Samyak International was allegedly misused by unknown persons, leading to wrongful availment and passing on of ITC.
CESTAT Mumbai held that double payment of amount of customs duty is only a deposit with government and hence question of applying limitation under section 27 of the Customs Act would not arise. Accordingly, order is set aside and appeal is allowed.
CESTAT Delhi held that interest u/s. 75A is payable at the rate specified in section 27A of the Customs Act from date after expiry of the period of one month of ‘let export order’ to date of payment of drawback. Accordingly, appeal allowed to that extent.
ITAT Ahmedabad held that delay in furnishing Form No. 10B is procedural lapse hence it cannot be sole reason for denial of exemption under section 11 of the Income Tax Act. Accordingly, delay in filing 10B condoned and exemption granted.
Additions made on account of cash deposits during the demonetization period and disallowance of loss on the derivative transactions, were remanded for fresh adjudication after the verification of sales records and transaction nature.
The interest was earned from fixed deposits maintained with banks for the purpose of the business and related to the business of assessee. Interest was also earned on refund of taxes due to wrongful deduction of TDS by the customers of assessee.
Tribunal had imposed a cost of ₹2,000 on M/s. Udai Lal Mahabir Prasad for failing to explain the delay in filing its appeal and remanded the disallowance issue to the Assessing Officer (AO) for fresh adjudication.
An ITAT Delhi ruling has partially allowed appeals by the tax department, reducing significant cash deposit additions and clarifying the applicability of Section 115BBE.
The Delhi Income-tax Appellate Tribunal (ITAT) has ruled that a company must deduct Tax Deducted at Source (TDS) on External Development Charges (EDC) paid to the Haryana Urban Development Authority (HUDA).
In a significant ruling, the Delhi High Court ordered the disbursement of an accumulated Input Tax Credit refund to a petitioner, along with interest, within a strict three-week deadline.
