The Chennai Bench of Income Tax Appellate Tribunal(ITAT) upheld the ruling of the Commissioner of Income Tax (Appeals) [CIT(A)] regarding accounting manipulation and tax evasion due to insufficient evidence. The revenue-appellant filed an appeal for Assessment Year (AY) 2015-16 against the order of the CIT(A), dated March 5, 2024, concerning an assessment made by the...
The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the revision order passed under Section 263 of the Income Tax Act, 1961 because the entity in question did not exist during the assessment year under review. Shree Neelkanth Quarry Works LLP was converted from a partnership firm into an LLP on...
This weekly round-up analytically summarizes the key stories of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) reported at taxscan.in, from October 04, 2024 to October 12, 2024. Failure to Prove Defacement: CESTAT sets aside Confiscation of 3 out of 10 alleged Foreign-Origin Gold Bars Kamal Kant Kulthia vs Principal Commissioner of Customs New […]
In a major relief to Honda Motors, the Allahabad Bench of Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) has held that the CENVAT Credit, which pertains to input services exclusively used in dutiable goods, is not required to be included in the “total CENVAT Credit” for apportionment between exempted services and dutiable...
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