More than merely a required task, filing your income tax return (ITR) can lead to a number of important advantages that can enhance your financial security and future prospects. For different taxpayers, the Income Tax Department has established a variety of forms. Depending on their revenue source, an assessee should select the proper form. ITR […]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) restored the matter to the Assessing Officer (AO) for fresh verification of books of accounts and cash sales of Diamond and Gold Dealer in the dispute involving cash deposit during demonetization. V.N. Exports (assessee), a dealer in diamond, gold jewellery, and bullion, filed its return […]
The Delhi Bench of Customs,Excise and Service Tax Appellate Tribunal(CESTAT)quashed a ₹26.94 crore service tax demand against Bharat Heavy Electricals Ltd. (BHEL) on income from freight and insurance. Bharat Heavy Electricals Ltd,appellant-assessee,provided various services and paid service tax under forward charge for services like Erection, Commissioning, Installation, Maintenance & Repair, Works Contract, and Consulting Engineer […]
The Kolkata Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) set aside an excise duty demand raised solely on input-output norms without any evidence to support allegations of clandestine manufacture or clearance. Pooja Sponge Pvt. Ltd., the appellant, is engaged in the manufacture of sponge iron at its facility in Sundargarh, Odisha....
