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Income Tax: Eligibility to deduction u/s 54B and u/s. 54F - assessee has not deposited the net sale consideration in the capital gain account - belated investment - beyond the due date specified u/s 139(1) but within the date specified u/s 139(4) - benefit of deduction allowed - HC
January 22, 2018

Central Excise: CENVAT credit - the activities of the assessee at the two separate premises in question were clearly interlinked. 'Factory' under Section 2(e) of the Act, means any premises where part of manufacturing processes connected with the production of goods is carried on - Tribunal has made no error in allowing the assessee to utilize CENVAT credit on capital goods against the duty payment on sugar and molasses. - HC
January 22, 2018

VAT: Condonation of delay in filing appeal - time limit prescribed u/s 35H(1) is absolute and unextendable u/s 5 Limitation Act. Since court has to respect the legislative intent, limitation cannot be extended u/s 5 of Limitation Act. - HC
January 22, 2018

Income Tax: Addition u/s 68 - genuineness of share transactions - For the only reason that the payment of purchase has been made after a lapse of 9 months cannot render the purchase as non genuine unless and otherwise any material is brought on record which could negate this fact. - Tri
January 22, 2018

Income Tax: If the partners of the firm are aggrieved by the reopening of the assessment in their hands, it is for the partner to challenge the same in appropriate forum. - Tri
January 22, 2018

Income Tax: Penalty u/s 271(1)(c) - Though section 69B is a deeming fiction but in the matter of penalty proceedings, such deeming fiction cannot be extended so as to hold assessee guilty of concealment of income or furnishing of inaccurate particulars when the addition on account of deeming fiction is based on some kind of estimate given by a Govt. Valuer. - Tri
January 22, 2018

Central Excise: Manufacture - ore concentrate - various processes such as crushing, screening, sorting by hydraulic machines and washing with high pressure water was performed by machines - processes undertaken by the appellant will incur the mischief of Chapter 4 and Excise duty will be payable by the appellant - Tri
January 22, 2018

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Jiva Seva is Shiva Seva:
Service to humanity is Service to God

May I be born again and again, and suffer thousands of miseries so that I may worship the only God that exists, the only God I believe in, the sum total of all souls—and above all, my God the wicked, my God the miserable, my God the poor of all races, of all species, is the special object of my worship.

- Swami Vivekananda, CW, 5:137
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