Home Highlights June 2019 Year 2019 This

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1. Validity of reopening of assessment u/s 147 - Addition u/s 68 - The function of the assessing authority at this stage is to administer the statute and what is required...

2. Provision for future liabilities (expenses) - whether allowable - mercantile basis of accounting - held yes - HC

3. Valuation - goods valued on the ex-factory value - supply of goods was on FOR basis - only possible criteria for the purpose is as to whether the property in goods...

4. Valuation - non-inclusion of value of Bought Out items received at site - If there was any undervaluation of these items then the demand of duty should have been made on...

5. Clandestine removal - Bags and Soft Luggage items - bags were not seized from outside the factory premises or during transit and that were seized from the factory...

6. Rectification of mistake u/s 254 - non issuance of valid notice u/s 143(2) - transfer of case u/s 127 - Legislative intent becomes clear with reading to Section 127(3)...

7. Non-payment of service tax - manpower supply service - differences in the figures reflected in ST-3 Returns and in form 26AS - form 26AS is not a statutory document for...

8. Deduction u/s 35(2AB) - Under Rule 6(7A), the Department of Scientific and Industrial Research is required to submit its report to the Income Tax Authorities in Form 3CL....

9. Failure to make an entry in RG-1 (DSA) register - manufacturing of Gutkha - confiscation of goods manufactured in the factory and not cleared from the factory -...

10. The notification introduces amendments to Para 10.08 of Chapter 10 of FTP 2023, outlining two significant provisions: (1) General Authorization for Export of...

11. Clandestine removal - Goods cleared without issuing invoices and CE duty was leviable on those goods - admission by the party itself - admissible evidences or not - In...

12. Classification of goods - manifold business forms including printed/ blank continuous computer stationery forms and printed cut sheet forms - goods are required to be...

13. Amends Form 3CF, Form 10A, Form 10AB, Form 10BD and Form 10BE - Income-tax (Fourteenth Amendment) Rules, 2022 - Notification

14. Remission of duty - samples which were destroyed in the factory itself - Where the goods are not cleared out of the factory premises but were drawn for testing within...

15. Import of food items - List of “Out of Scope” items as received from FSSAI