News Update

 
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Mumbai, November 17, 2017
Income tax - Ss 194C vs 194J - Activities covered u/s 194C are more specific unlike the ones u/s 194J, and therefore, provisions of Sec 194J cannot be applied to activities covered by Sec 194C: HC
 
Chandigarh, November 17, 2017
Income tax - Assessees can claim compensation from I-T Department for inordinate delay in payment of interest on delayed refund, from date of withholding till date of payment: ITAT
 
Mumbai, November 17, 2017
CX – Since cost of freight and insurance incurred on transportation of goods to buyer's premises is not included in AV, credit of security guard service availed for transit from factory to buyer's premises is not admissible: CESTAT
 
New Delhi, November 16, 2017
Income tax - Incidental investment in property for earning assured return, will not stop investor from claiming interest expenditure incurred for such purpose, u/s 57(iii): ITAT
 
New Delhi, November 16, 2017
CX – It is a matter of common sense that plastic bottle becomes complete only with addition of cap - value of bought out item i.e. cap supplied along with plastic jars is includible in AV: CESTAT
 
Kolkata, November 15, 2017
Income tax - Loan advanced by charitable trust to relative of trustees, if adequately secured, is no bar for denial of exemption u/s 80G(5)(vi): ITAT
 
Mumbai, November 15, 2017
ST - Determination of liability than liability already determined by adjudicating authority is not entertainable without any basis - Revenue appeal dismissed: CESTAT
 
Mumbai, November 15, 2017
CX - Duty was discharged on TV which was charged to ultimate customer -no cause to include cost incurred on account of packing material used for packing from bulk pack to retail pack at job-worker's end and job work charges: CESTAT
 
New Delhi, November 15, 2017
CX - Notfn 12/2012 - Fitting of medical equipment is not mentioned in exemption list - no reason to deny exemption: CESTAT
 
New Delhi, November 14, 2017
I-T - Sec 226 does not empower Revenue to seize money or properties of assessee or judgment debtors, which belong to others and were obtained by fraud: HC
 
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