Withdrawal of 2000 Rupee Notes from Circulation: Myths vs Facts
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT) deleted the penalty for auditing the books of account under section 44AB of the Income Tax Act,1961 due to turnover limitation. Bangla Readymade Garments Mfg and Traders Welfare Association, the appellant assessee was an association of persons formed for looking after the interests of […]
The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) has recently held that the interest expenses incurred for earning income from loans and advances should not be disallowed under Section 57 of Income Tax Act, 1961. The assesee Ankit Ashok Savla after filing the return for the assessment year 2017-18. The case was selected for...
The Ahmedabad Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), ruled that Certificates when issued by qualified professionals like cannot be rejected for want of corroborative evidence. The appellant, Rajashree Polyfil, is engaged in the manufacture of Nylon Chips and Pet chips falling under Chapter 39 of the First Schedule to the...
This weekly round-up analytically summarises the key stories of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) reported at taxscan.in, from June 3 to June 9 2023. No evidence proves Unjust enrichment, Refund of Excess Paid Duty must be Credit to Consumer Welfare Fund: CESTAT Pr. Commissioner of Customs Central Tax vs Sachdev Overseas Fitness Pvt...
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