Excise & Customs : Where appeal had been heard and only order was pending, recovery proceedings initiated in meanwhile were stayed
Saturday, 2 August 2014
Back to basics: Excise duty is allowable under sec. 43B only on actual payment, rules HC
IT: Provision for excise duty as well as for interest is allowable under section 43B only on basis of actual payment and it is irrelevant that assessee has followed mercantile system of accounting
HC keeps garnishee order against assessee’s client in abeyance as it was only source of income of as
CST & VAT: Where assessee, a public sector undertaking, had entered into an agreement with Damodar Valley Corporation (DVC) for supply of equipment and materials and for rendering services and Assessing Officer completed assessments of assessee and raised tax demand upon it and in meantime Deputy Commissioner issued a garnishee order under section 46 of Jharkhand Value Added Tax Act, 2005 directing DVC to pay certain amount in Government Treasury against tax due from assessee, since assessee's s
No time-limit to claim deductions for lower of brought forward losses or unabsorbed depreciation in
IT: In terms of section 115JB it is only amount withdrawn from provision made for meeting unascertained liabilities and credited to profit and loss account which is liable to be deducted from net profit while computing book profit
HC denies export rebate on inputs as suppliers of inputs were found to be bogus
Excise & Customs : Where : (a) several suppliers are founded to be fake, bogus or non-existent, and (b) inputs used in manufacture of export goods are found to be non-duty-paid, assessee cannot be allowed rebate on inputs
No deduction under section 80-IA for equipment hire charges and interest on loan to employee
IT : Equipment hire charges and interest on loan to employee is not eligible for deduction under section 80-I
CESTAT isn’t an expert to examine medical certificates; HC condones delay due to ill-health of GM of
Service Tax : In case of delay in filing appeal due to ill-health of General Manager (Taxation), Tribunal, not being expert in medical field, cannot reject medical certificate as misconceived on ground that doctor was skin specialist
Payment of commission with RBI’s approval for export to Iraq under ‘Food and Oil programme’ isn’t pr
IT : Where Assessing Officer disallowed assessee's claim for commission paid to intermediary companies in respect of export made to Iraq under 'Food for Oil Programme' run by United Nations taking a view that it was in nature of prohibited payment in terms of Explanation 1 to section 37(1), in view of fact that said payment was duly approved by RBI, impugned disallowance deserved to be deleted
HC affirms excise demand on LPG Cylinders without considering inflated freight charges shown by asse
Excise & Customs : If it is found that assessee had deflated assessable value of its final product by inflating freight charges, demand of duty on proper value with interest and penalty is valid
Payment of export commission for services rendered outside India couldn’t be deemed as FTS to attra
IT/ILT: Where assessee made payments of sales commission to its agents located abroad for procuring export orders and furnishing of upto date information about fashion and market trends, said services not being in nature of technical services, payments in question were not taxable in India and, thus, assessee was not liable to deduct tax at soruce while making said payments
Road marking paint is liable to VAT at 12.5% as it is an unclassifiable item under Karnataka VAT Act
CST & VAT: Where assessee was engaged in manufacture and sale of road marking paints/material 'RMP', said product was an unclassified item exigible to tax at 12.5 per cent in terms of section 4(1)(b) of Karnataka Value Added Tax Act, 2003
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