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Supreme Court Allows Appeal in Customs Duty Exemption Case — Crude Degummed Soyabean Oil Not an Agricultural Product Under Notification No. 53/2003-Cus. Nexus Between Imported and Exported Products Established Under DFCE Scheme.

The appellant, Noble Resources and Trading India Private Limited (formerly Andagro Services Pvt. Ltd.), a government-recognized two-star export house,...

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Karnataka High Court Quashes Penalty Orders in KVAT Act Case for Lack of Jurisdiction and Violation of Natural Justice. Penalty under Section 53(8) of KVAT Act cannot be imposed without assessment and opportunity of hearing.

The petitioner, M/s B.L. Kashyap & Sons Ltd., a company engaged in civil works contracts, challenged orders dated 8.9.2017 passed by the Joint Commiss...

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High Court of Karnataka Allows Appeal in KVAT Act Classification Dispute — Authority for Clarification & Advance Rulings Not Properly Constituted Under Section 60. Product 'Yakult' Held Entitled to Benefit of Entry 19 of First Schedule as Milk Product, Taxable at 4% Not 14%.

The appellant, Yakult Danone India Pvt Ltd, is the manufacturer of a product called 'Yakult', which it claimed is akin to 'lassi' and thus a milk prod...

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High Court Allows Writ Appeals Against Reassessment Notice Under KVAT Act Due to Lack of Jurisdiction — Notice Issued Beyond Limitation Period Under Section 52(1) of Karnataka Value Added Tax Act, 2003.

The appellant, M/s Paharpur Cooling Towers Ltd., engaged in construction, supply, erection and commissioning of cooling towers, was issued a notice un...

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Bombay High Court Dismisses Revenue's Appeal in Depreciation Rate Dispute for Electronic Circuit Board Manufacturer. Assessee manufacturing Electronic Circuit Boards held entitled to 40% depreciation as semi-conductor industry under Income Tax Act, 1961.

The case involves three tax appeals filed by the Commissioner of Income Tax against M/s. Titan Time Products Ltd., concerning the rate of depreciation...