CESTAT Ahmedabad held that amount charged as freight and handling charges which are separately shown in the invoices cannot be included in the assessable value under section 4 of the Central Excise Act, 1944.
CESTAT Ahmedabad held that the Construction of Residential Complex under Jawaharlal Nehru National Urban Renewal Mission (JNNURM) Scheme and construction of residential housing for Gujarat State Police Housing Corporation Ltd. is not liable to service tax.
CESTAT Kolkata held that central excise duty demand not sustainable as there was no under-valuation in the costing of the product i.e. footwear components.
ITAT Amritsar held that date of presentation of cheque should be taken as date of payment. Accordingly, payment of employee contribution is deemed to have been made on the date of presentation of cheque.
ITAT Kolkata held that penalty u/s 271(1)(c) of the Income Tax Act not leviable as computation of income resulting into higher income is only a difference of opinion.
Uttarakhand High Court held that issuance of notice by Commissioner (Appeals) mandatory in terms of section 251(2) of the Income Tax Act before enhancing the assessment.
ITAT Delhi held that addition of unexplained credit u/s 68 of the Income Tax Act sustained as the appellant failed to provide any explanation with regard to the nature and source of the credit.
CESTAT Ahmedabad held that value of bought out items supplied along with manufactured goods cannot be included in the assessable value of the manufactured goods.
ITAT Ahmedabad held that interest income related to FD interest, interest from customer’s receipts and interest income from business advances is eligible for deduction under section 80IAB of the Income Tax Act.
ITAT Pune held that waiver of cash loan by holding company is not income within the purview of section 28(iv) of the Income Tax Act. Accordingly, addition unsustainable.
