Category: Treasury Management

1. The Director-General of Foreign Trade (DGFT) has notified the extension of the Date for Mandatory electronic filing of Non-Preferential Certificate of Origin (CoO) through the Common Digital Platform to 31st January 2022. 2. In continuation to the earlier Trade Notice 42/2020-2021 dated 19.02.2021, 48/2020-2021 dated …

The Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), Kolkata Bench quashed penalty on Goods Imported from Bangladesh as no Customs duty was short paid due to collusion, willful misstatement, and the South East Asia Free Trade Agreement (SAFTA) Certificate was duly verified. Facts of the …

1. The Income Tax Department has revealed that more than 2.38 crore taxpayers have filed their income tax returns for the financial year 2020-21 (the assessment year 2021-22). 2. It further urged taxpayers who have not filed their income tax returns for fiscal 2020-21 to do …

The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that the expenses towards reclamation and rehabilitation of mine area shall be allowable as a deduction under 37 of the Income Tax Act, 1961. Facts of the case:- The assessee is a partnership firm and is …

In a major relief to Honda Motorcycle and Scooter India Pvt. Ltd, the Delhi Bench of Income Tax Appellate Tribunal (ITAT) directed the AO to delete Addition on account of capitalization of royalty expenses by holding it to be revenue in nature. Facts of the case:- …

In a major relief to M/s Hamdard (Wakf) Laboratories, the Allahabad Bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) ruled that exemption of Excise Duty can’t be denied for mere taking credit of duty paid on inputs used in the manufacture of goods. Facts …

In a major setback to  Lite-on Mobile, the Chennai Bench of Income Tax Appellate Tribunal (ITAT)  disallowed the grossed-up portion of TDS deducted on interest paid to AE on External Commercial Borrowings. Facts of the case:- The assessee, M/s. Lite-on Mobile India Pvt. Ltd. is a …