Additional depreciation and appellate claims may be admitted despite no revised return where procedural limits cannot defeat substantive tax entitlement.
Maintainability of a revenue appeal depends on the correct tax effect arising from the actual dispute, and not on erroneous or inflated figures in the appeal papers; if the properly computed tax effect is below the CBDT monetary limit, the appeal is liable to be dismissed in limine. Although the Assessing Officer cannot entertain a fresh claim except through a revised return, appellate authorities may admit and decide such claims to determine the correct taxable income, including correction of depreciation due to an opening written down value error and supported additional depreciation. (AI Summary)

Opting for DTVSV scheme requires withdrawal of appeals; appeal may be reinstated if settlement is not accepted.
Opting into the DTVSV scheme requires withdrawal of all pending appeals, leading appellate forums to dismiss such appeals as withdrawn; however, the appellate forum may allow reinstatement if the DTVSV application is not accepted due to non-fulfilment of its terms or is rejected, permitting the assessee to revive the appeal and continue regular litigation. (AI Summary)

Trade creditor liabilities not treated as cash credits when purchases accepted; addition must follow cessation of liability rules.
Sundry trade creditors arising from purchases accepted as genuine cannot be added as cash credits where purchases and payments are admitted by the assessing officer; the correct tax treatment for any subsequent write off or remission of such liabilities is recognition as income under the principle of cessation or remission of liability rather than recharacterisation as unexplained cash credits, reflecting the accounting distinction between a payable liability and monies received. (AI Summary)

Post-sales discount GST treatment: supplier must ensure recipient reverses input tax credit before reducing output tax.
When a supplier issues a credit note for a post-sales discount, reduction in output tax is permissible only where the discount is agreed at or before supply and linked to invoices, and where the input tax credit attributable to that discount has been reversed by the recipient on the basis of documents issued by the supplier. A supplier faces evidentiary difficulty proving reversal by the recipient, and must consider measures-such as limiting the credit note to the discount amount, adding recipient disclaimers, and reconciling monthly returns-to address the requirement that the incidence of tax has not been passed to another person. (AI Summary)

Excise on jewellery now applies to branded and unbranded items (except silver), charged on tariff value.
A 1% ad valorem excise duty applies to jewellery (branded and unbranded) excluding silver, levied on tariff value fixed at 30% of the transaction (invoice) value with an education cess additionally charged; Cenvat credit is inapplicable when this concessional scheme is used. Definitions cover gold, specified platinum group metals, alloys and base metal clad items, and minor fittings are excluded. SSI eligibility and exemption computations are to be made on tariff value with illustrative examples; job work and manufacturing liabilities are specified and trading without manufacture remains subject only to VAT. (AI Summary)