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Income Tax - Highlights / Catch Notes

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Determination of income - manufacture of tea out of green leaf - ...

Income Tax

July 18, 2015

Determination of income - manufacture of tea out of green leaf - Disallowance made on account of bifurcation of expenses by application of Rule 8D - CIT(A) deleted addition - the formula adopted by the AO gives distorted figures for profit made out of the assessee’s own leaf and bought leaf - AT

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  2. Addition of cess on green leaf - deduction on cess paid on green tea leaves has to be allowed on 100 per cent, of the composite income under the Income-tax Act, 1961,...

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  4. Expenses on establishing Green Belt and depreciation - expenditure incurred for arranging the Green Belt by the assessee be treated under the heading of plant and machinery - HC

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  8. GST Rates - HSN Code - For GST rate of 5% tobacco leaves means leaves of tobacco as such or broken tobacco leaves or tobacco leaves stems

  9. CENVAT Credit - Nexus with manufacturing activity - denial of Cenvat credit in respect of the service availed for maintenance of lawn and green belt also not sustainable - AT

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