Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Central Excise - Highlights / Catch Notes

Home Highlights February 2014 Year 2014 This

Disallowance of higher wastage @ 5% - manufacture of footwear - ...

Case Laws     Central Excise

February 4, 2014

Disallowance of higher wastage @ 5% - manufacture of footwear - unaccounted stock - There is absolutely no other evidence on record. - claim of higher wastage of 5% on account of rain water has to be accepted - AT

View Source

 


 

You may also like:

  1. Importer imported footwear and evaded duty by deliberately claiming lesser IGST rate, violating N/N. 1/2017 which mandated mentioning sale price on footwear to claim...

  2. This circular amends the requirement under Chapter 1 at Para 4.3.3.1 of the SEBI Master Circular (Stock Exchanges and Clearing Corporations) dated October 16, 2023,...

  3. Clarification on FDI Policy on Contract Manufacturing - FDI in Contract Manufacturing is governed by provisions of para 5.2.5.1 of Press Note 4 (2019). However,...

  4. The Public Notice extends the abeyance of Public Notice No. 05/2024 dated 27.05.2024, which modified wastage permissible and Standard Input Output Norms for...

  5. The applicant purchases second-hand gold or diamond jewelry from unregistered individuals, melts and transforms them into new pieces, altering their nature and...

  6. Addition on account of excess stock - discrepancies in stock records, unaccounted sales - we are satisfied with the documentary evidence that the alleged stock of cotton...

  7. The Income Tax Act did not intend to tax deemed rental income from properties held as stock-in-trade prior to the assessment year 2018-19. Section 23(5), introduced from...

  8. Disallowance u/s 40A(3) - cash payments of expenditures - poor creditability in the market - genuineness of such expenditure is not in dispute - AO directed to sustain...

  9. Expulsion against the appellant, from the membership of the National Stock Exchange of India Limited - Schedule­ II of the SEBI (Stock Brokers and Sub­ Brokers)...

  10. Estimation of income - Excess stock found during the survey operation - The ITAT highlighted that only the profit element embedded in such purchases should be added to...

  11. Unaccounted purchases - only the profit element in such unaccounted purchase should be made especially when there is no unaccounted stock found during the survey on...

  12. Undisclosed income u/s 69B - stock submitted to the bank - Such a tendency tantamount to commercial immorality for obtaining unjustified gains in the form of higher...

  13. Correctness of erasure of credit already availed by prospective invalidation of eligibility for retention of credit that would subject those services already procured...

  14. Classification of goods - narrow woven fabrics manufactured - The product narrow woven fabric of Polypropylene yarn of width not exceeding 30 cms provided with selvedges...

  15. Reversal of Input Tax Credit - loss arising from manufacturing process - The reversal of ITC involving Section 17(5)(h) by the Revenue, in cases of loss by consumption...

 

Quick Updates:Latest Updates