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/- …
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 …
Judgment:- In a relief to the State Bank of India (SBI), the Mumbai Bench of Income Tax Appellate Tribunal (ITAT) deleted the addition made on account of deferred payment guarantee commission. Interpretation of law & Conclusion:- The Coram of Judicial Member, Saktijit Dey, and Accountant Member, …
Judgment:- 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. …
1. The Central Board of Direct Taxes (CBDT) has issued the order extending the period for admitting applications for settlement up to September 30, 2021 (filed after January 31, 2021) on behalf of the Interim Board and treat such applications as valid and process them as …
Judgment:- The Kerala High Court ruled that the high court was not empowered to waive the payment of interest under Customs Act as it is a statutory imposition. Facts of the case:- Mr. C.K. Karunakaran for the petitioner, Pomsy Food Products contended that proceedings of the …
Judgment:- The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the bank guarantee commission is not subject to tax deduction at source (TDS) under section 194H of the Income Tax Act, 1961. The assessee, a company, filed its income tax return. Facts …
