Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Appellant's eligibility for CENVAT credit on service tax paid for outward transportation under reverse charge mechanism in cases where the sale of excisable goods is on FOR basis. It cites favorable judgments from the CESTAT and High Courts of Gujarat and Kerala, which held that when freight is an integral part of the assessable value on which excise duty was paid for FOR sales, the assessee is eligible for CENVAT credit on outward transportation. The judgments establish that permitting CENVAT credit in such cases aligns with the scheme's objective of avoiding tax cascading effects and preventing ultimate burden on consumers. Consequently, the impugned order is set aside, allowing the appeal with consequential relief.
Appellant's eligibility for CENVAT credit on service tax paid for outward transportation under reverse charge mechanism in cases where the sale of excisable goods is on FOR basis. It cites favorable judgments from the CESTAT and High Courts of Gujarat and Kerala, which held that when freight is an integral part of the assessable value on which excise duty was paid for FOR sales, the assessee is eligible for CENVAT credit on outward transportation. The judgments establish that permitting CENVAT credit in such cases aligns with the scheme's objective of avoiding tax cascading effects and preventing ultimate burden on consumers. Consequently, the impugned order is set aside, allowing the appeal with consequential relief.
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