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Showing 1 to 20 of 38 Records Search Text: crescent organics ltd |
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2013 (2) TMI 806 - CESTAT MUMBAI The Tribunal ruled in favor of the appellants, finding that storing goods for other importers falls under 'Storage and Warehousing Services,' not 'Cargo Handling Services' as contended by the Revenue. The Tribunal set aside the tax demands and penalties imposed, allowing the appeals with consequential relief.
2024 (7) TMI 904 - TELANGANA HIGH COURT Business expenditure incurred for fulfilling contractual obligations of parent company - c an be considered as business loss of appellant company or not? - appellant company is a subsidiary company of LIC Energy, Denmark - HELD THAT:- Perusal of the record would show that the holding company had received five orders to supply LEAK detection and location system to India apart from several enquiries on other modeling software. The appellant company incurred expenditure for overseeing and execution... ... ...
2022 (5) TMI 1165 - CESTAT AHMEDABAD Levy of Service Tax - Cargo Handling Services - Storage and Warehousing services - benefit of cum Duty price - invocation of extended period of limitation - Circular No.18/2009-Customs dated 08 June, 2009 - HELD THAT:- The facts of the case are that the appellant s are container freight station. The appellant s are providing services on the basis of a tariff card. There are standard packages which involved the complete service of container freight station (including storage for a specified limit... ... ...
2024 (1) TMI 106 - ITAT CHENNAI Disallowance of interest expenditure u/s. 36(1)(iii) - Investment made in subsidiary company - HELD THAT:- The assessee had owned rigs required for carrying out its business activity in the name of subsidiary company in Singapore, for the sole purpose of getting financial advantage by arranging funds required for acquiring rigs. The assessee has filed necessary evidences to prove that the investment made in subsidiary company is facilitated the subsidiary company to raise further capital from th... ... ...
2014 (12) TMI 520 - GUJARAT HIGH COURT Interest paid on funds borrowed for purchase of shares deductible u/s 36(1)(iii) or not – Legal and professional charges incurred for rehabilitation - Shares purchased of a BIFR Company – Held that:- CIT(A) was of the view that the decision in Madhav Prasad Jatia v. CIT [1979 (4) TMI 2 - SUPREME Court] it was rightly held that at the time of allowing interest u/s 36 of the IT Act, 1961, three conditions are required to be seen for allowing deduction in respect of the borrowed funds for the purpo... ... ...
2015 (10) TMI 3 - ITAT MUMBAI Disallowance u/s.14A in accordance with Rule 8D - Held that:- No doubt rule 8D is not mandatory for the current year, so that the Revenue is free to invoke any method, including that prescribed u/r. 8D, in making a reasonable estimate of the amount which stands to be disallowed, either on account of interest or other indirect expenses, i.e., u/s. 14A(1), in respect of income not forming part of the total income for the current year. The hon’ble jurisdictional high court in Godrej & Boyce Mfg. Co... ... ...
2014 (8) TMI 10 - BOMBAY HIGH COURT Interest expenses on borrowed funds u/s 36(1)(iii) – Held that:- Tribunal was of the view that the interest paid on the borrowals utilized for investments in a foreign company namely M/s Kemsol Ltd could not be allowed as deduction as it was not in the course of Assessee’s business - there was no evidence placed on record by the Assessee to support the argument of commercial expediency in acquiring 60% of the shares of M/s Kemsol Ltd. - the interest paid on borrowed funds was not for the purpose... ... ...
2006 (9) TMI 314 - CESTAT, MUMBAI S/Shri S.S. Sekhon, Krishna Kumar, JJ.
REPRESENTED BY : Shri V. Sridharan, Advocate, for the Appellant.
Shri Vimlesh Kumar, D.R., for the Respondent.
[Order per : S.S. Sekhon, Member (T)]. -
Appeal C/897/01 is filed by Milton Exports, appeal C/898/01 is filed by C.I. Vaghani, Director of Milton Exports, appeal C/899/01 is filed by Milton Plastics.
2. The appellant in appeal C/897/01 is aggrieved against the duty demand determined of Rs. 6,31,408/-, along with penalty of Rs. 1.00 lakh,... ... ...
2024 (9) TMI 266 - ITAT RAJKOT Disallowance u/s 40(a)(ia) - non-deduction of TDS on ocean freight charges - HELD THAT:- In any case, action or inaction of any person cannot determine the correct position of law. In the present case, the position is clear from the above CBDT s Circular that neither section 194C nor is section 195 of the Act applicable to the payments made to the non-resident shippers or their Indian agents and it is needless to mention that Board Circulars are binding on the Income Tax Authorities. In view of ... ... ...
2021 (7) TMI 826 - ITAT CHANDIGARH Disallowance u/s 36(1)(iii) - interest had been charged on the funds given out and that as to why the interest on funds diverted for non business purpose should not be disallowed - HELD THAT:- In the present case, the contention of Assessee that the assessee company was having sufficient interest free funds available with it which would be said to have been used in making interest free advances to M/s GDPL requires verification at the level of the A.O. therefore this issue is set aside to the fi... ... ...
2020 (12) TMI 663 - ITAT MUMBAI Deduction u/s 35(1)(ii) - claim disallowed as research institution i.e HHBRF to which donation was given by the assessee was found to be a bogus institution that was not doing any research activity but was in fact laundering ill-gotten money of the donors - HELD THAT:- in the case before us, we find that the research institution i.e HHBRF, as on the date of giving of donation by the assessee was having a valid approval granted under the Act. On a perusal of the aforesaid Explanation to Sec. 35(1... ... ...
2023 (11) TMI 1375 - ITAT MUMBAI The Tribunal addressed multiple tax-related issues involving disallowance of notional interest on interest-free loans and expenditure related to exempt dividend income. The key outcomes include: (1) setting aside disallowance of notional interest when loans are advanced from own surplus funds for business purposes, (2) directing the AO to recompute section 14A disallowance with proper satisfaction and limited to investments yielding exempt income, and (3) upholding deletion of addition to book profits under section 115JB consistent with SC precedents.
2022 (11) TMI 271 - ITAT MUMBAI Delayed employees as contribution to any PF or ESIC Fund - addition in respect of any Sum received from employees as contribution to any PF or ESIC Fund to the extent not credited to the employees account on or before the due date, including the extended date as mentioned in respective legislation) - Scope of amendment - HELD THAT:- On this issue jurisdictional ITAT and various coordinated benches held that the amendment made by the Finance Act 2021 to sec 36(1)(va) and section 43B are prospecti... ... ...
1993 (2) TMI 198 - CEGAT, NEW DELHI S/Shri G.P. Agarwal, N.K. Bajpai, JJ.
REPRESENTED BY : Shri L.N. Murthy, JDR, for the Appellant.
Shri V. Lakshmi Kumaran, Advocate, for the Respondent.
[Order per : N.K. Bajpai, Member (T)]. -
This appeal has been filed against the order of Collector of Central Excise (Appeals), Bombay by which he had set aside the order of the Assistant Collector, Central Excise, Division-1 in which the latter had held that polyethylene granules which are used in the 'manufacture' of vulcanizable poly... ... ...
2014 (11) TMI 282 - ITAT JODHPUR Deletion of disallowance u/s 40(a)(ia) – Held that:- The assessee has deducted the tax at source on 31.03.2009 and deposited it in May/June, 2009 – following the decision in DCIT vs. Rajasthan Art Emporium [2014 (11) TMI 43 - ITAT JODHPUR] - the amendment brought in by Finance Act, 2010 in the provisions of section 40(a)(ia) should be read as clarificatory in nature and applied retrospectively - the entire expenditure has been paid by the assessee and nothing remains payable as on the end of the... ... ...
2023 (6) TMI 1302 - BOMBAY HIGH COURT Violation of principles of natural justice - Seeking for review of the decision in COMMISSIONER OF CUSTOMS VERSUS CANON INDIA PVT. LTD. [ 2022 (8) TMI 888 - SC ORDER ] - Article 32 of the Constitution of India - HELD THAT:- The Supreme Court having noted the order passed in Review Petition No. 400 of 2021 in the case of COMMISSIONER OF CUSTOMS VERSUS CANON INDIA PVT. LTD. [ 2022 (8) TMI 888 - SC ORDER ], has adjourned the said proceedings awaiting the decision of the review petition. The present... ... ...
2022 (8) TMI 257 - ITAT MUMBAI Late deposit of employee s contribution to P.F. and E.S.I. - Addition on account of deemed income u/s 36(1)(va) r.w.s. 2(24)(x) - scope of amendment - as per revenue amendment is curative in nature and retrospective in application - HELD THAT:- On this issue jurisdictional ITAT and various coordinated benches held that the amendment made by the finance Act 2021 to sec 36(1)(va) and section 43B are prospective in nature, effective from assessment year 2022-23. See M/S CRESCENT ROADWAYS PRIVATE LI... ... ...
2024 (3) TMI 1253 - BOMBAY HIGH COURT Levy of stamp duty on Bill of Entry (BoE) and on Delivery Orders (DO) - goods imported in Maharashtra - seek refund paid on stamp duty - Whether the State of Maharashtra has the legislative competence to levy, impose and collect stamp duty on a Delivery Order, an instrument defined in Section 2(l) of the Maharashtra Stamp Act, 1958, chargeable with duty as mentioned in Article 29 of the First Schedule in the Maharashtra Stamp Act, 1958? - Entries 41 and 83 of List I of Schedule VII of the Consti... ... ...
2021 (11) TMI 523 - ITAT AHMEDABAD TDS u/s 195 - disallowance of design expenses u/s.40(a)(i) - Whether purchases of design were purchases of goods on which provisions of Section 9(1)(vii) r.w.s. 195 are not applicable? - it was the contention of the assessee that it has made purchases of the designs from the foreign party which is in the nature of purchase of good - HELD THAT:- We have to see whether the payment made by the assessee to the foreign party was chargeable to tax in India. Admittedly, the services were rendered by th... ... ...
2018 (2) TMI 2071 - ITAT CHENNAI TDS u/s 195 - taxability of Business Development Commission - payments effected by the assessee to its principal abroad - whether payments made by the Appellant to US Parent Company towards Business development Commission (marketing services) result in income chargeable to tax in India ? - HELD THAT:- Assessee had never raised a plea before the ld. AO regarding application of DTAA between India and USA. In fact, the only finding given by the ld. Assessing Officer was that the payments effected b... ... ...
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