The case involved a dispute over CENVAT Credit denial based on a ...

Tax credit granted! Circular advises against double benefits but doesn't deny credit. Tribunal rules in favor of legitimate credit.

Case Laws Central Excise

June 28, 2024

The case involved a dispute over CENVAT Credit denial based on a board circular alleging undervaluation of assets and claiming dual benefits. The Circular merely advised informing the income tax department about claimed expenses to avoid double benefits. It did not mandate CENVAT credit denial. The Tribunal in a similar case ruled that legitimate CENVAT credit under CENVAT Credit Rules, 2004 is unaffected by income tax treatment. Consequently, the appellant was deemed eligible for CENVAT credit, and the earlier denial was overturned, allowing the appeal.

View Source

← Previous Next →

The case involved a dispute over CENVAT Credit denial based on a ...

Tax credit granted! Circular advises against double benefits but doesn't deny credit. Tribunal rules in favor of legitimate credit.

Case Laws Central Excise

June 28, 2024

You may also like:

Section 90 of the Income Tax Act allows relief from double taxation by granting foreign tax credits (FTCs) on foreign income taxed in both India and the other country....

Disallowance of TDS on account of mismatch & later on TDS matched but AO not given credit - Although the rectification application was filed beyond the permissible time...

CESTAT, an Appellate Tribunal, addressed the issue of denying exemption from duty on the import of specific goods due to a realignment of tariff headings. The Tribunal...

Grant of credit for tax deducted at source u/s 195 and surcharge - Tribunal was right in holding that the advances which are once held to be not income, could not have...

Input tax credit - eligibility of benefit of input tax credit claimed after six months from the date of invoice - the Apex court has held that credit is indefeasible....

Denial of benefit u/s 115BAA - while filing its return of income as it was unable to upload Form 10-IC due to technical glitches - Scope of CBDT circular - Despite the...

CENVAT Credit - input services - Irrespective of the person whether it is service recipient or service provider is liable to pay the service tax but so long the service...

The Appellate Tribunal addressed the rejection of the assessee's claim for a lower tax rate u/s 115BAA due to non-filing of Form 10IC on time. The CIT(A) dismissed the...

Issues relating to export of computer software Direct tax benefits -Clarification reg. - Circular

The Appellate Tribunal addressed two issues regarding TDS credit. Firstly, the Tribunal emphasized that income and TDS must align in any assessment year when income is...

Input Tax Credit - credit was not effected in Form GSTR-2A - If on examination of the evidence submitted by the assessee, the assessing officer is satisfied that the...

The petitioner's denial of refund of input tax credit debited as a pre-deposit was challenged. The court held that the non-inclusion of freight and pumping charges...

The assessee failed to claim the Minimum Alternate Tax (MAT) credit in the original income tax return and did not file a revised return. The Assessing Officer (AO) did...

Foreign tax credit claim for doubly taxed foreign sourced salary income was denied due to belated filing of Form No. 67. The Tribunal allowed the assessee's claim,...

Input tax credit denied - credit can not be denied on a plea that the selling dealer has not paid the tax. - HC

Quick Updates: