Home Highlights October 2013 Year 2013 This

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1. 100% EOU - demand of customs duty on the raw material imported duty free - removal of finished goods in DTA without having any permission from the Development...

2. Refund of the excise duty on goods returned to factory - Valuation - the submission on behalf of the assessee that the returned goods may be treated as a raw material...

3. TP adjustment - Inclusion of excise duty on the operating revenue for two comparables - By including excise duty in the case of two comparables by the ld. TPO, the...

4. Clandestine manufacture - tobacco snuff - It is found that to manufacture snuff of huge quantity, other raw material/packing material also required but no such evidence...

5. 100% EOU - demand of excise duty on the raw grade oil - In the present case the vegetable oil falling under chapter 15.07 during the relevant period is chargeable to nil...

6. In view of the provisions of section 43B, Excise duty/customs duty paid by the assessee in a particular accounting year is allowable as deduction in such year

7. CESTAT Chennai addressed the issue of including royalty payments in the transaction value of imported raw materials for customs duty calculation. The tribunal found that...

8. Pharmaceutical companies’ gifting freebies to doctors, etc. - whether Allowable Business expenditure under Section 37(1)?

9. Allowable u/s 37(1)- Whether the expenses incurred on construction of tennis court are allowable as revenue expenses or are capital in nature - the expenditure on Black...

10. Reversal of CENVAT Credit - damage of raw material - demand invoking extended period of limitation confirmed - HC

11. Accrual of income - Taxability of advance license benefit receivable - assessee could not contend while filing the return of income that such income should not be...

12. 100% EOU - Eligibility of concessional rate of duty on domestic clearances - the condition stipulated for eligibility to excise duties, instead of half of the aggregate...

13. Addition u/s 37(1) - non-competition fee - revenue or capital expenditure - it does not bring in any capital asset - the payment is allowable u/s 37(1) - HC

14. Denial of exemption benefits under Notifications 30/2004-CE and 23/2003-CE for clearances of finished goods into the Domestic Tariff Area (DTA) by a 100% Export Oriented...

15. Provision for Site Restoration - Expenses allowable u/s 37(1) - Merely because the contract period was long viz., 25 years, which too now stands extended by period of...