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CENVAT Credit Need Not Be Reversed Under Rule 3(5B) For Inputs Or Sub-Assemblies Scrapped During Manufacturing: CESTAT [Read Order]
The Chandigarh Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) held that CENVAT credit reversal under Rule 3(5B) of the...

Disallowance Restricted to 12.5% in Quantum Appeal: ITAT Deletes Penalty Citing Faulty Charge [Read Order]
Observing that the Assessing Officer levied the penalty for "concealing the particulars of income," while the quantum finding established a case of "furnishing inaccurate particulars," the Tribunal deleted the penalty due to the faulty charge