News Update

 
Page 662
Chennai, September 04, 2013
I-T - Whether depreciation is allowable even if machinery is not put to use due to paucity of raw materials - YES: HC
 
Chennai, September 04, 2013
Service Tax - GTA Service - CENVAT Credit can be used to pay Service Tax by recipient of service: Madras HC
 
New Delhi, September 04, 2013
CENVAT - A buyer can take steps which are in their control and he cannot be expected to verify records of dealer to check whether supplier has paid duty on goods supplied by him or not - as long as bonafide nature of consignee transaction is not doubted, credit should not be denied: CESTAT
 
Jaipur, September 03, 2013
I-T - Whether when assessee agrees to pay service tax separately, over and above technical or professional fees, service tax paid to service provider is not to be included in total sum for purpose of TDS u/s 194J - YES: HC
 
Chennai, September 03, 2013
ST- Declaration of assessee as sick company by BIFR is sufficient cause under section 80 for wavier of penalties -Tribunal Order upheld : High Court
 
Mumbai, September 03, 2013
CENVAT - terms of agreement between applicant and dealer shows that sale and service is at cost of dealer - taxable service provided by dealer after sale of vehicles manufactured by applicant prima facie cannot be considered as input service: CESTAT
 
Bangalore, September 02, 2013
I-T - Whether when banks have seized assets of assessee and auctioned the same to highest bidders, assessee can still claim notional depreciation - NO: ITAT
 
New Delhi, September 02, 2013
CENVAT Credit - Inputs received from 100% EOUs - Restriction under Rule 3(7)(a) of CCRs is not applicable to clearances made by EOU under Sl No 1 of Notification No 23/2003 - CESTAT
 
Mumbai, September 02, 2013
ST - From budget-speech and Circulars issued by Board, what emerges so far as Life Insurance is concerned is that prior to 1.5.2011 ST was leviable on risk premium and nothing else - order set aside and matter remanded: CESTAT
 
New Delhi, September 01, 2013
India needs Dollar but Govt keeps no centrally maintained data on dollar transferred by Foreign Cos abroad
 
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