HC held that Section 50 of the GST Act can be applied demanding interest only in cases of belated cash payment towards GST, but not on input tax credit available all the while with the department to the credit of the assessee.
Delve into the pivotal case of Assam Company India Limited vs Commissioner of Service Tax (CESTAT Kolkata) where the tribunal addresses service tax liabilities, waivers, and penalties, offering insights for tax compliance.
Explore the case of Dr. Shivajirao Jondhale Research Foundation vs CIT (ITAT Mumbai), where the tribunal remanded the issue of registration under section 80G back to the Commissioner of Income Tax Exemption for fresh consideration, citing principles of natural justice.
Facts regarding non payment of duty by the appellant or in other words the amount retained of sales tax collected from the customer, came to the notice of the Department only through the audit of the records conducted by the Audit Officer.
Alleged interest income is from the Fixed Deposits, which were made by the assessee in the course of business and in order to comply the statutory requirements of the West Bengal Cooperative Societies Act, 2006. Therefore, the same should be treated as part of the business income and is eligible for deduction under section 80P(2)(a)(i) of the Act and should not be treated as income from other sources.
Explore the case of Shri T. Sriranga (HUF) vs ITO (ITAT Bangalore), where the Income Tax Appellate Tribunal remanded the issue of cash deposit disallowance back to the Assessing Officer for verification in accordance with CBDT circulars.
Explore the detailed analysis of CAAR Mumbai’s ruling on the classification of roasted areca nuts under the Customs Tariff Act, 1975. Understand the implications of roasting processes and legal interpretations.
Explore the detailed judgment of Ravinder Kumar vs. State of Haryana, Punjab and Haryana High Court, involving forgery allegations. Legal experts weigh in on the bail decision and its implications.
Compounded rubber formulation 1 (with less than 5 parts of Carbon Black) mentioned in para 5.1 merits classification under CTH 4005 1000 Compounded rubber, unvulcanised, in primary forms or in plates, sheets or strip – compounded with carbon black or silica and is eligible for duty exemption benefit under serial number 503
Read the detailed analysis of the ITAT Kolkata’s ruling in the case of Community For Social Work vs. ITO, highlighting jurisdictional discrepancies in the assessment process under the Income-tax Act.
