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I-T - Bonafide claim of deduction by assessee which was accepted in first round of proceedings does not tantamount to furnishing of inaccurate particulars, simply because it was disallowed later: ITAT India-bound oil tanker struck by Houthi’s missiles in Red Sea SCO Defence Ministers' Meeting endorses 'One Earth, One Family, One Future'RBI issues draft rules on digital lending I-T - In order to invoke revisionary jurisdiction u/s 263, twin conditions of error in order and also prejudice to interest of Revenue must be established independently: ITAT CRPF senior official served notice of dismissal on charges of sexual harassment Indian Air Force ushers in Digital Transformation with DigiLocker Integration Columbia faculty blames leadership for police action against protesters CX - When process undertaken by assessee does not amount to manufacture, even then CENVAT credit is admissible if such inputs are cleared on payment of duty which would amount to reversal of credit availed: CESTAT Google to inject USD 3 bn investment in data centre in Indiana Cus - The equipments are teaching accessories which enable students in a class to respond to queries and these equipments are used along with ADP machine, same merits classification under CTH 8471 60 29: CESTAT UN says clearing Gaza mounds of rubble to take 14 yrs ST - When issue is of interpretation, appellant should not be fastened with demand for extended period, the demand confirmed for extended period is set aside: CESTAT Blinken says China trying to interfere US Presidential polls World Energy Congress 2024: IREDA CMD highlights need for Innovative Financing Solutions


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Mumbai, December 14, 2012 Refund - ST - Services such as legal and customer support activities are essential in running output services namely BAS to customers located abroad - any service which has nexus with business has to be treated as Input Service - Appeal allowed: CESTAT

New Delhi, December 14, 2012 Captive mines have to be considered as part of factory only - Tyres get used in process of handling raw materials which is integral part of manufacturing - nothing in definition of capital goods or inputs provides for excluding tyres - CENVAT Credit is available on tyres: CESTAT

New Delhi, December 13, 2012 Whether cenvat credit can be allowed on duty paid LSHS utilized as an input in manufacture of fertilizer exempted from duty - Matter referred to Larger Bench: Supreme Court

Chennai, December 13, 2012 I-T - Whether valuation of closing stock at market price is permissible only in cases where business is discontinued and not where business carried on by partnership firm is taken over by a successor company without any interruption on conversion of firm into company - NO: ITAT

Bangalore, December 13, 2012 Cus - Refund � Limitation - it would be in interest of justice to treat letter dated 06.9.2006 as refund claim - After all, whole amount had been deposited but related goods have undisputedly not arrived in India: CESTAT

Ahmedabad, December 13, 2012 CX - Penalty & Interest - In SCN, no allegation of any fraud, or suppression of fact or contravention with intent to evade duty has been made - In absence of such allegation, there was no scope of invoking provisions of Section 11AB & 11 AC - Revenue's appeal dismissed: High Court

New Delhi, December 12, 2012 Income tax - Whether when assessee lets out building with furniture and fixtures and their maintenance, composite rent received is to be treated as 'income from other sources' - YES: Delhi HC

Mumbai, December 12, 2012 CENVAT - Since applicant has not taken credit on input services attributable to trading, they are covered under rule 6(1) and not rule 6(2) - Pre-deposit of Rs 298 Cr waived: CESTAT

Mumbai, December 12, 2012 Cus - Commissioner (EP), Mumbai is subordinate to CESTAT in judicial matters - what Commissioner has done is to reconsider an issue which has already been settled in favour of appellant - appeal allowed: CESTAT

Mumbai, December 11, 2012 Income tax - Whether when deduction claimed u/s 80IA was subjected to appellate proceedings and finally settled in favour of assessee, reassessment can still be initiated beyond four years - NO: Bombay HC

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April 26, 2024

I-T - Assessee cannot be prevented from claiming that receipts from sale of software were wrongly offered as royalty, merely because such income was wrongly offered in ROI and which was not revised: ITAT

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I-T- Proceedings commenced subsequent to exercise of revisionary power u/s 263, are unsustainable, where the revisionary order itself came to be quashed: ITAT

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