Skip to main content

www.caonline.in News....

www.caonline.in News...

1.When the issue has been decided by the CIT(A) then only CIT(A) can rectify the order u/s 154, AO has no jurisdiction to rectify such order - Tribunal.[M/s. NHPC Ltd. vs Asstt. Commissioner of Income Tax, Circle-II, Faridabad And vica-versa - 2016 (2) TMI 676 - ITAT DELHI]
2.Demand of service tax on management, maintenance or repair service collected from flat owners, in this fact the appellant is not liable for service tax - Tribunal.[M/s Omega Associates vs Commissioner of Service Tax, Mumbai - 2016 (2) TMI 690 - CESTAT MUMBAI]
3.Mandatory recovery of advertising cost should be included in AV. [M/s Rathi Transpower Pvt. Ltd. vs. Commissioner of Central Excise (CESTAT-Mumbai)]
4.Testing cost of returnable durable cylinders not includible in AV. [M/s Bombay Oxygen Corporation Ltd. vs. Commissioner of Central Excise (CESTAT Mumbai)]
5.No CENVAT reversal under Rule 6 on SEZ supply with effect from 10/09/2004. [Commissioner of Central Excise vs. M/s. Mather Platt Pumps Ltd. (CESTAT Mumbai)]
6.Export benefit cannot be denied on re-processed damaged goods. [M/s Uniworth Textiles Ltd. Vs. Commissioner of Central Excise, Nagpur (CESTAT Mumbai)]
7.Services having indirect nexus with business are Input services. [Sudarshan Chemical Industries Ltd. vs. CCE Appeals (CESTAT Mumbai)]

For more News Like us on https://www.facebook.com/caonlineofficial Or Subscribe on mail visit : www.caonline.in

Comments

Popular posts from this blog

Household debt up, but India still lags emerging-market economies: RBI

  Although household debt in India is rising, driven by increased borrowing from the financial sector, it remains lower than in other emerging-market economies (EMEs), the Reserve Bank of India (RBI) said in its Financial Stability Report. It added that non-housing retail loans, largely taken for consumption, accounted for 55 per cent of total household debt.As of December 2024, India’s household debt-to-gross domestic product ratio stood at 41.9 per cent. “...Non-housing retail loans, which are mostly used for consumption purposes, formed 54.9 per cent of total household debt as of March 2025 and 25.7 per cent of disposable income as of March 2024. Moreover, the share of these loans has been growing consistently over the years, and their growth has outpaced that of both housing loans and agriculture and business loans,” the RBI said in its report.Housing loans, by contrast, made up 29 per cent of household debt, and their growth has remained steady. However, disaggregated data sho...

External spillovers likely to hit India's financial system: RBI report

  While India’s growth remains insulated from global headwinds mainly due to buoyant domestic demand, the domestic financial system could, however, be impacted by external spillovers, the Reserve Bank of India (RBI) said in its half yearly Financial Stability Report published on Monday.Furthermore, the rising global trade disputes and intensifying geopolitical hostilities could negatively impact the domestic growth outlook and reduce the demand for bank credit, which has decelerated sharply. “Moreover, it could also lead to increased risk aversion among investors and further corrections in domestic equity markets, which despite the recent correction, remain at the high end of their historical range,” the report said.It noted that there is some build-up of stress, primarily in financial markets, on account of global spillovers, which is reflected in the marginal rise in the financial system stress indicator, an indicator of the stress level in the financial system, compared to its p...

Retail inflation cools to a six-year low of 2.82% in May on moderating food prices

  New Delhi: Retail inflation in India cooled to its lowest level in over six years in May, helped by a sharp moderation in food prices, according to provisional government data released Thursday.Consumer Price Index (CPI)-based inflation eased to 2.82% year-on-year, down from 3.16% in April and 4.8% in May last year, data from the Ministry of Statistics and Programme Implementation (MoSPI) showed. This marks the fourth consecutive month of sub-4% inflation, the longest such streak in at least five years.The data comes just days after the Reserve Bank of India’s (RBI) Monetary Policy Committee cut the repo rate by 50 basis points to 5.5%, its third straight cut and a cumulative reduction of 100 basis points since the easing cycle began in February. The move signals a possible pivot from inflation control to supporting growth.Food inflation came in at just 0.99% in May, down from 1.78% in April and a sharp decline from 8.69% a year ago.A Mint poll of 15 economists had projected CPI ...