The Income Tax Appellate Tribunal (ITAT), Pune bench, while granting relief to the assessee, held that deduction shall be allowable for revenue loss due to technical snags and bad weather conditions. Facts of the case:- The assessee is an export house dealing in Mango Pulp etc. …
In a major relief to the Bharat Coking Coal, the Kolkata Bench Customs, Excise and Service Tax Appellate Tribunal (CESTAT) held that the cenvat credit cannot be denied for setting up of Coal Handling Plant (CHP) used for evacuation of coal by rapid loading process. Facts …
The Rajasthan High Court granted bail to a person accused of wrongfully availing Input Tax Credit (ITC). Facts of the case:- The Petitioner, Shailesh Chandra was a director of a company that has purchased metal rods for its business and it was alleged that the Company …
The Madhya Pradesh High Court directed the Designated Committee to consider the Declaration as a valid declaration under Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 (SVLDRS). Facts of the case:- The petitioner, M/s Balaji Services is a proprietary firm that decided to take benefit of the …
The Tripura High Court quashed the order demanding unpaid taxes with interest and penalty under VAT Act for inadequate hearing. Facts of the case:- The petitioner, ITC Limited has challenged an order dated 26.02.2021 passed by the Superintendent of Taxes, Agartala demanding a sum of Rs.1,18,79,583/- …
Judgment:- The Patna High Court quashed the summary revised GST demand as no opportunity of hearing was afforded. Facts of the case:- The petitioner, Manoj Kuma sought to quash the communication in form GST APL-04 issued by the respondent whereby the appeal preferred by the petitioner …
1. The Securities and Exchange Board of India (SEBI) on Monday decided to ban the usage of pool accounts for mutual fund transactions. Market regulator SEBI, in its notification, stated that the pooling of funds by stockbrokers, MF distributors, and investment advisers will be discontinued from …
1. The Government has extended the imposition of Anti-Dumping Duty on imports of Colour coated or pre-painted flat products of alloy or non-alloy steel from China, and the European Union till 31st March 2022. “In terms of sub-section (5) of section 9A of the Customs Tariff …
Judgement:- In a major relief to Bombay Chamber of Commerce & Mackinnon Mackenzie Building, the Income-tax appellate tribunal(ITAT) exempted the assessee trust from Income Tax for rendering services in relation to commercial activity for which fees were charged. Facts of the case:- The assessee, Bombay Chamber …