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Income Tax - Highlights / Catch Notes

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Eligibility for exemption u/s 10B - When a DTA unit is converted ...

Income Tax

April 26, 2014

Eligibility for exemption u/s 10B - When a DTA unit is converted into 100% EOU unit, there is neither a transfer nor a creation of a new business to attract section 10B(2)(iii) - exemption allowed - HC

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  2. Allowability of refund of Cenvat credit availed on inputs used in the manufacture of goods cleared by DTA unit to a 100% Export Oriented Unit (EOU) - refund allowed - AT

  3. Deemed export - TED refund - Supply of intermediate goods by the DTA unit to 100% EOU unit - When there is an exemption, then, this refund claim was rightly disallowed - HC

  4. Refund - Rule 5 of the CER, 2004 - 100% EOU - instead of utilizing the credit accumulated due to export for DTA clearance, EOU unit claimed refund - Refund allowed - AT

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  7. Computation of deduction u/s 10B - 100% EOU - inter unit transfer should not be treated as part of the “Total Turnover” while computing deduction u/s.10B of the Act - AT

  8. CENVAT Credit – DTA unit converted into 100% EOU – Conversion and Utilization of Credit – the assessee is entitled to avail the credit in balance as on the date of...

  9. One has to discharge all the duty liabilities on capital goods, raw-materials, finished goods etc. lying in the E.O.U. for final debonding and conversion of E.O.U. to a...

  10. EOU Unit can claim exemption from payment of SAD if the goods are cleared into DTA are not exempted by the State Government from the payment of Sales Tax - AT

 

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