The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has deleted the addition under Section 68 of the Income Tax Act, 1961 as the source for deposits made during the demonetization period has been substantiated. The Assessee is engaged in the business of wholesale and retail trading of cloth. The year under...
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled that there exists no employer-employee relationship between Piramal Enterprises and doctors, leading to the deletion of additions under Sections 115WB(2)(d) and 115WB(2)(o) related to Fringe Benefit Tax ( FBT ). The assessee filed its fringe benefit return under Section 115WD(1) of...
The Ahmedabad Bench of the Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) held that cenvat credit can be availed when input and input services received up to place of removal of manufactured goods. The appellant is engaged in manufacture of ceramic tiles following under Central Excise Tariff heading 6908 9090. The assessee...
The Ahmedabad Bench of the Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) observed that the allegation of suppression of facts or wilful mis-statement will not stand when Cenvat Credit of input services are reflected in monthly return in form of ER-1. The department is of the view that the input service availed...
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