Business deductions and transfer pricing issues: tribunal treatment of software write-offs, donation receipts, warranty provisions, and related expens...
Equivalent value attachment under money laundering law upheld where received funds were treated as proceeds of crime and prior-acquired property could...
CENVAT Credit - capital goods - manufacture of exempted goods - On analysis of CENVAT Credit Rules, 2004 particularly Rule 6(6)(v) which are explanation to Rule 6(4), this court finds that in the year 2016-17 the goods were exported under bond. It is also true that in terms of Notification No.30/2004-CE dated 09.07.2004 option was exercised for exemption in the year 2016. The said fact does not debar the respondents from availing the credit. Provisions of Rule 6(4) read with Rule 6(6)(v) of the CENVAT Credit Rules, 2004 gives a time of two years to avail CENVAT Credit. - HC
CENVAT Credit - capital goods - manufacture of exempted goods - On analysis of CENVAT Credit Rules, 2004 particularly Rule 6(6)(v) which are explanation to Rule 6(4), this court finds that in the year 2016-17 the goods were exported under bond. It is also true that in terms of Notification No.30/2004-CE dated 09.07.2004 option was exercised for exemption in the year 2016. The said fact does not debar the respondents from availing the credit. Provisions of Rule 6(4) read with Rule 6(6)(v) of the CENVAT Credit Rules, 2004 gives a time of two years to avail CENVAT Credit. - HC
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