Disallowance of excise duty liability as deduction since it was ...

Case Laws Income Tax

February 3, 2022

Disallowance of excise duty liability as deduction since it was not actually paid by the assessee during the relevant year - We find that the Tribunal has rightly taken note of the Central Excise returns and noted that one of the units of the assessee was engaged only in job work activity and therefore, not entitled for benefit of input credit and after taking note of the sum paid on the said account, the Tribunal also found that the balance amount was adjusted with the available input credit in the respective divisions which undoubtedly would tantamount to actual payment of excise duty. Thus, we find that the Tribunal rightly granted relief to the assessee and the order does not call for any interference. - HC

View Source

← Previous Next →

Disallowance of excise duty liability as deduction since it was ...

Case Laws Income Tax

February 3, 2022

You may also like:

Disallowance of excise duty - an item of section 43B - Since the excise authority held that CENVAT credit on fuel used for generation of electricity supplied to the...

Refund claim - excise duty paid wrongly - The entry was made debiting the excise duty without actually collecting the excise duty - they have not paid the excise duty...

Nature of Duty Paid by 100% Export Oriented Units (EOU) - The CESTAT held that while the measure adopted for computing duty paid by 100% EOUs may be based on customs...

Deletion of addition made on account of excise duty – The Excise Duty was paid under protest - merely because assessee contested the liability, the same cannot be disallowed - AT

Interest liability - Provisional assessment - interest is not payable if assessee pays the duty before finalisation - AT

Deduction u/s 43B - Payment of Excise duty - double deduction or not - The High Court held that, Section 43B of the Act, which came to be introduced from Assessment Year...

The appellant paid excise duty on the removal of inputs as such, based on the transaction value. However, this excise duty was found to be in excess of the actual CENVAT...

For the purpose of claiming benefit of deduction of the sum paid against the liability of tax, duty; cess, fee, etc., the year of payment is relevant and is only to be...

Deduction u/s 43B - once excise duty on the basis of goods manufactured is paid same is allowable, direct correlation between the duty paid and the goods manufactured or...

Disallowance of bad debts as claimed u/s 36(1)(viia) - deduction claimed @10% of aggregate average advances - AO is directed to make relevant enquires and verifications...

Valuation - adjustment of excess excise duty paid against the short payment - during the relevant period the Appellant had paid the correct duty arrived at in terms of...

Disallowance u/s 40(a)(ia) for non-deduction of tax at source (TDS) - assessee in default - Assessee has paid interest u/s 201(1A) for non-deduction/short deduction of...

Disallowance being amount of State Value Added Tax (VAT) paid for earlier years - Deduction u/s 80IB claimed - Assessee became liable to pay VAT for earlier years - The...

Demerger/amalgamation of unit - Liability of predecessor / successor - Extended Period of limitation - The Revenue received the duty on the very same dispatches covered...

100% EOU - de-bonding - refund of the excise duty previously paid - Admittedly, such duty was paid at the time of what is referred to de-bonding. However, this would not...

Quick Updates: