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Fertiliser industry - Inverted duty structure & subsidy - refund woes (See 'THE INSIGHT')ITC on Food supply services arranged at Factory canteen for employees (See 'THE INSIGHT')Ease of Doing Business & Custom Audit (See 'THE INSIGHT')TP - Where assessee has advanced loan to its AE, rate of interest would be based upon rates prevailing in country where loan is utilised: ITAT (See 'TOG Latest')Service tax - Re-credit is an adjustment/correction of the excess reversal which was not required to be made by them: CESTAT (See 'TOG Latest')Service tax - Denial of credit at recipient's end cannot be justified by Department without reopening the assessment at dealer's end: CESTAT (See 'TOG Latest')I-T - Trust which misuses status conferred upon it by Section 12AA is not entitled to retain & enjoy said status - Bogus donations completely misused by 'Trusts' calls for cancellation of registration granted to it u/s 12AA & 80G: SC (See 'TOG Latest')TP - ALP adjustment is mandated only in respect of International transactions & not transactions entered into by taxpayer with independent unrelated parties: ITAT (See 'TOG Latest')Central Excise - Invocation of penal provisions for imposition of penalty on appellant, without proper corroboration of facts, will not meet the ends of justice: CESTAT (See 'TOG Latest')Customs - Point of jurisdiction which goes to the root of the matter could be raised at any stage of the proceedings, which is a settled position of law: HC (See 'TOG Latest')I-T - Principles of natural justice are violated where an assessee is given only 24 hours' time to comply with the options given under a draft assessment order: HC (See 'TOG Latest')I-T - Assessment made u/s 143(3) or u/s 144(4) referable to subsection (2) other than sub-section (8) on or after 1st day of April, 2021 shall be non est if such assessment is not made in accordance with procedure laid down u/s 144B: HC (See 'TOG Latest')I-T - Once accepted that identity & creditworthiness of subscribers is not in doubtful, there is no reason to doubt the genuineness of transactions merely for reason that share certificates issued to shareholders was not furnished: ITAT (See 'TOG Latest')DTAA - Profits earned from reinsurance business of Indian subsidiary cannot be brought to tax in hands of foreign holding company in India, if such subsidiary is not 'Permanent Establishment': ITAT (See 'TOG Latest')Service tax - Penalty amount, forfeiture of earnest money deposit & liquidated damages had been received by said appellants towardsCentral Excise - Assessee is entitled to refund of amount of Cenvat Credit lying in their Cenvat Credit account on closure of business - Interest is payable upon delayed disbursal of refund , as per section 11BB of CEA 1944: CESTAT (See 'TOG Latest')Retrospective Effect In Tax Laws- Non-adversarial Tax Environment (See 'THE INSIGHT')Vivad Se Vishwas scheme - Tax demands of Rs 99,756 crores settled (See 'TOG NEWS')

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Mumbai, Aug 16, 2021 By TOG News Service
TP - Where assessee has advanced loan to its AE, rate of interest would be based upon rates prevailing in country where loan is utilised: ITAT...

Chandigarh, Aug 16, 2021 By TOG News Service
I-T - Interest earned on account of funds borrowed for specific purpose cannot be taxed: ITAT...

Kolkata, Aug 16, 2021 By TOG News Service
Central Excise - As per settled law, Cenvat Credit on welding electrode is allowed: CESTAT...

Bengaluru, Aug 16, 2021 By TOG News Service
Central Excise - As per Section 140(1) read with Explanation 1 to Section 140(10) of CGST Act, 2017, education cess & secondary education cess is...

Mumbai, Aug 13, 2021 By TOG News Service
TP - ALP adjustment is mandated only in respect of International transactions & not transactions entered into by taxpayer with independent unrela...

New Delhi, Aug 13, 2021 By TOG News Service
I-T - Trust which misuses status conferred upon it by Section 12AA is not entitled to retain & enjoy said status - Bogus donations completely mis...

Chennai, Aug 13, 2021 By TOG News Service
Service tax - Denial of credit at recipient's end cannot be justified by Department without reopening the assessment at dealer's end: CESTAT...

Chennai, Aug 13, 2021 By TOG News Service
Service tax - Re-credit is an adjustment/correction of the excess reversal which was not required to be made by them: CESTAT ...

Mumbai, Aug 12, 2021 By TOG News Service
I-T - Assessment made u/s 143(3) or u/s 144(4) referable to subsection (2) other than sub-section (8) on or after 1st day of April, 2021 shall be...

Chennai, Aug 12, 2021 By TOG News Service
I-T - Principles of natural justice are violated where an assessee is given only 24 hours' time to comply with the options given under a draft as...

Bengaluru, Aug 12, 2021 By TOG News Service
Customs - Point of jurisdiction which goes to the root of the matter could be raised at any stage of the proceedings, which is a settled position...

Mumbai, Aug 12, 2021 By TOG News Service
Central Excise - Invocation of penal provisions for imposition of penalty on appellant, without proper corroboration of facts, will not meet the ...

Mumbai, Aug 10, 2021 By TOG News Service
DTAA - Profits earned from reinsurance business of Indian subsidiary cannot be brought to tax in hands of foreign holding company in India, if su...

Chennai, Aug 10, 2021 By TOG News Service
I-T - Once accepted that identity & creditworthiness of subscribers is not in doubtful, there is no reason to doubt the genuineness of transactio...

Chennai, Aug 10, 2021 By TOG News Service
Service tax - Penalty amount, forfeiture of earnest money deposit & liquidated damages had been received by said appellants towards "consideratio...

New Delhi, Aug 10, 2021 By TOG News Service
Central Excise - Assessee is entitled to refund of amount of Cenvat Credit lying in their Cenvat Credit account on closure of business - Interest...

New Delhi, Aug 09, 2021 By TOG News Service
DTAA - Availability of office premises to foreign company in premises of contracting party in order to ensure that both parties comply with their...

Chandigarh, Aug 09, 2021 By TOG News Service
I-T - When sundry creditors are outstanding for more than 3 years, amount due is liable to be taxed u/s 41(1) as cessation of liability: ITAT ...

Bengaluru, Aug 09, 2021 By TOG News Service
Service tax - Even after introduction of Negative List, freight and freight forwarding is not taxable & when a particular activity is not taxable...

New Delhi, Aug 09, 2021 By TOG News Service
Central Excise - 'Heavier hydrocarbons' described as 'gas condensate' is classifiable under Heading 2709 - However NCCD would not be leviable as ...

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