Home Highlights February 2014 Year 2014 This

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1. Demand duty - Imported one consignment of ‘Bed sheet’, declared as made of “100% Polyester” - mis-declaration the goods - The Tribunal observed that, the articles which...

2. Depreciation @ 40% or 100% - transport vehicle as consisting of two parts, viz., cylinder and vehicle - entitled to claim depreciation at 100 per cent .... - HC

3. Temporary erection which was intended to use for temporary purpose is entitled for 100% depreciation - The department is not correct in saying that the wooden structure...

4. 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...

5. Allowability of depreciation on shuttering material - he assessee was the owner of the shuttering which was ready to use - Assessee is entitled for 100% depreciation - HC

6. Entitled for exemption u/s 47(v) with respect to the transfer of land - Holding company - determination of 100% subsidiary company where 25 shares held by 6 nominees -...

7. Depreciation on machinery and equipments - Depreciation @ 25% or 100% - Even before this Court, learned counsel for the Assessee was unable to demonstrate why the...

8. Higher rate of Depreciation on co-generation plant - The assessee is entitled for a higher rate of depreciation in the case of RCC Chimney, Bagasee Drier, DC Drier,...

9. TDS u/s 194A - TDS on deemed dividend - loan advanced by the assessee company to the other group companies - Even if, the appellant company hold 100% shares in these...

10. Disallowance of depreciation claimed on the “Goodwill” - The Tribunal reiterated its earlier decision and held that the assessee was entitled to claim depreciation on...

11. Restriction of deduction u/s 10B – 100% Export Oriented Unit (EOU) - assessee will not be entitled for exemption u/s 10B in respect of turnover sold to 100% EOU in India - AT

12. Quantum of penalty under section 10(A) of the CST Act - The Tribunal after detailed analysis, came to the conclusion that there was mensrea on the part of the petitioner...

13. Assessee is entitled for 100% depreciation in respect of vinyl flooring, false ceiling, glass and wooden partitioning, electrical wiring, Net work cabling etc., in the...

14. Time Limitation - suppression of fact of manufacture and clearance of excisable goods - It is found that satisfaction recorded initially by the Commissioner and then by...

15. 100% EOU - whether the benefit of Central Excise (Removal of goods at concessional rate of duty for manufacture of Excisable goods) Rules, 2001 is available to 100% EOU...