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Bombay High Court Allows Raymond Limited's Appeals in Central Excise Cenvat Credit Dispute. Cenvat Credit of AED (T&TA) on Inputs Can Be Utilized for Payment of BED on Final Products.

The appellant, Raymond Limited, is a company manufacturing blankets from woollen fibres. The blankets attract only Basic Excise Duty (BED) and not Add...

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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...