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India-Mauritius-DTAA and fiscal evasion convention amendment for prevention of fiscal evasion of tax and encouragement of mutual trade and investment.

India-Mauritius-DTAA and fiscal evasion convention amendment for prevention of fiscal evasion of tax and encouragement of mutual trade and investment.

August 29, 2016 Income Tax
India-Mauritius-DTAA and fiscal evasion convention amendment for prevention of fiscal evasion of tax and encouragement of mutual trade and investment. Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 29th August, 2016. Subject: Notification of Protocol for amendment of …
Excise duty refund for trade-turnover discounts not allowable unless duty passed on to the ultimate consumer – Supreme Court

Excise duty refund for trade-turnover discounts not allowable unless duty passed on to the ultimate consumer – Supreme Court

August 29, 2016 Excise, Judgments, Supreme Court
Excise duty refund for trade-turnover discounts not allowable unless duty passed on to the ultimate consumer  else it would result in unjust enrichment – Supreme Court ABCAUS Case Law Citation: 1004 2016 (08) SC Important Judgments cited: Mafatlal Industries Ltd. and Others Vs. Union of India And Ors., (1997) …
Higher GP rate adoption for mere fall in rate from preceding year. It cannot be a sole reason for choosing higher rate as per Assessing Officers convenience

Higher GP rate adoption for mere fall in rate from preceding year. It cannot be a sole reason for choosing higher rate as per Assessing Officers convenience

August 28, 2016 Income Tax, ITAT, Judgments
Higher GP rate adoption for mere fall in rate from preceding year. It cannot be a sole reason for choosing higher rate as per Assessing Officers convenience – ITAT ABCAUS Case Law Citation: 1002 2016 (08) ITAT Assessment Year: 2010-11 Date/Month of Judgment: July 2016 Brief Facts of the …

Additions u/s 28(iv) not apply to benefits received in cash-money. ITAT quashed additions made alleging customers advances opening balances as bogus

August 27, 2016 Income Tax, ITAT, Judgments
Additions u/s 28(iv) not apply to benefits received in cash-money. ITAT quashed additions made by Assessing Officer alleging opening balances of customers advances as bogus. ABCAUS Case Law Citation: 1000 2016 (08) ITAT The Prelude: It has bee widely held in numerous judgments that additions u/s 68 can not …
Streamlining process of NOC Port Clearance Certificate voyage return-assessment of Foreign Shipping Companies (FSCs) – CBDT Circular 30/2016

Streamlining process of NOC Port Clearance Certificate voyage return-assessment of Foreign Shipping Companies (FSCs) – CBDT Circular 30/2016

August 26, 2016 Income Tax
Streamlining process of NOC Port Clearance Certificate voyage return and assessment of Foreign Shipping Companies  Circular No. 30/2016 F. No: 500/05/2014-FTD-I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Foreign Tax & Tax Research Division – II FT & TR-V Section New …
Revised guidelines for disposal of custom confiscated goods through Army Canteens/CSD, NCCF/Kendriya Bhandar etc. and discount

Revised guidelines for disposal of custom confiscated goods through Army Canteens/CSD, NCCF/Kendriya Bhandar etc. and discount

August 26, 2016 Custom
Revised guidelines for disposal of custom confiscated goods through Army Canteens/CSD, NCCF/Kendriya Bhandar etc. and discount Circular No. 39/2016-Customs F.No.711/01/2006-Cus(AS)/Pt. Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs New Delhi, the 26th August, 2016 To All Principal Chief Commissioners/Chief Commissioners of …