TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Supreme Court Rules Transit Loss Payments Not Deductible from Assessable Value in CCE, Meerut v. Surya Roshni Ltd.</h1> In the case of CCE, Meerut v. M/s. Surya Roshni Ltd., the issue was whether transit risk insurance should be included in the assessable value of bulbs and tubes. M/s. Surya Roshni Ltd. claimed a deduction for transit insurance, which was initially disallowed by the assessing authority but allowed by the Tribunal. However, the Supreme Court ruled that payments for breakages and losses to customers do not qualify as insurance or transportation costs. The Court's decision emphasized that such payments are compensations for transit losses and should not be deducted from the assessable value. Officers are instructed to apply this judgment in similar cases.
TaxTMI 
TaxTMI 
