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Home e-Newsletters Index Year 2021 April Day 12 - Monday

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TMI Tax Updates - e-Newsletter
April 12, 2021

Case Laws in this Newsletter:

GST Income Tax Customs Insolvency & Bankruptcy Service Tax Central Excise CST, VAT & Sales Tax



Highlights / Catch Notes

    GST

  • Classification of supply of goods/services - rate of GST applicable - Restaurant services - Chocolates - the sale of handmade chocolates which are manufactured in the workshop and brought to the outlets for further processing will be covered under the 'restaurant services'. - AAR

  • Classification of supply of goods/services - rate of GST applicable - Restaurant services - Supply of items such as birthday stickers, candles, birthday caps, Balloon, Carry Bags, snow sprays etc. - the said related items are being purchased and sold as such without any further processing in the restaurant. These items are not articles of foods and drinks and are covered under goods. Sale of such bought out goods as such, is not a service but sale of goods - AAR

  • Income Tax

  • Penalty u/s 271(1)(c) - Bogus purchases - no clinching material had been brought on record by the revenue which could disprove the authenticity of the purchases claimed by the assessee to have been made from the aforementioned parties thus, no penalty under Sec.271(1)(c) could have validly been imposed upon him. - AT

  • Levy of penalty u/s 271D - cash loan received from mother in violation of provision of Section 269SS - bona fide reason - this advance or loan in cash is between blood relations i.e. mother and son - Following the decision of Madras High Court, penalty deleted - AT

  • Estimation of income on sub-contract receipts - Revenue fails to dispute clinching fact that the assessee’s books have indicated the impugned receipts from scrap sales than any ‘other’ source inviting application of Section 57 of the Act. We conclude in this factual backdrop that the assessee’s scrap sales income deserves to be treated under the regular business head followed by assessment thereof @8%. - AT

  • Unexplained cash credits - if the assessee is able to prove the transfer of money from the assessee’s bank a/c to the bank a/c of the customers and if the said gold loan is repaid on the same date, then taking the confirmation from the parties into consideration, the sale consideration of those transactions should be accepted as source for cash deposits. - AT

  • Deduction of interest on late deposit of TDS under Section 37(1) - payment of interest on late deposit of tax deduction at source by the assessee leviable u/s 201 (1A) of the act is neither an expenditure only and exclusively incurred for the purpose of the business and therefore same is not allowable as deduction u/s 37 (1) - AT

  • Unexplained cash deposits - once the AO has examined the documents so produced by the assessee and recorded his satisfaction regarding the identity of the donors, the genuineness of the gift and the source of such gift, the assessee has discharged the necessary onus cast on her and no addition can be made in her hands. - AT

  • Revision u/s 263 - Though the order passed by the Assessing Officer may be prejudicial to the interest of the Revenue, it cannot be termed as erroneous. In such case, the order passed by the Commissioner of Income Tax cannot be sustained. The Tribunal taking into consideration all these aspects, rightly set aside the order passed by the Commissioner of Income Tax and allowed the appeal. - HC

  • Rectification u/s 254 - non consideration of the Judgment of the Hon'ble Bombay High Court - When the Tribunal has no jurisdiction to review the order passed by them, the remedy open to the assessee is to file an appeal against the order, if they are aggrieved over the same. The order passed by the Tribunal is beyond the scope of section 254(2). In these circumstances, the Tribunal should not have allowed the Miscellaneous Application. - HC

  • TDS u/s 195 - Royalty - the amounts paid by resident Indian endusers/ distributors to non-resident computer software manufacturers/suppliers, as consideration for the resale/use of the computer software through EULAs/distribution agreements, is not the payment of royalty for the use of copyright in the computer software, and that the same does not give rise to any income taxable in India, as a result of which the persons referred to in section 195 of the Income Tax Act were not liable to deduct any TDS - HC

  • Customs

  • Warehoused goods - goods were not cleared within the time limit stipulated in Section 48 of the Customs Act, 1962 - The customs authority at no point of time detained the goods. Therefore, this is purely a contractual issue between the petitioner on the one hand and the private respondents on the other. In such a case, it would not be open to the Writ Court to issue any Mandamus compelling the private respondents herein to permit clearance of the goods - Petition dismissed - HC

  • IBC

  • Validity of action of the Resolution Professional (RP) - Admittedly, the RP has not provided the copy of Resolution Plans to the Appellant. Thus, he has contravened the mandatory provision provided in Regulation 21(3) (iii) of the IBBI Regulations - the notice of that meeting was sent to the Appellant less than 24 hours’ notice was served, which is against the Regulation 19 of IBBI Regulations - Directions issued to RP - AT

  • Central Excise

  • CENVAT Credit - input services - Membership of Club Service - Health Insurance Service - there is no evidence produced by the Department to prove that even these two services were for personal use of the appellant - In absence thereof, there are no logic in confirming the recovery of Cenvat credit availed by the appellant on these two services - AT

  • VAT

  • Exemption from turnover - inter-state sale or not - Form-F declaration - false document - consignment sales or not - AO rejected the claim on inter-state movement of goods in the second round of proceedings after remand - the Tribunal did not advert to the findings rendered by the appellate Deputy Commissioner in the earlier round more particularly, with regard to the documentation, the nature of transaction and the role of the broker - what the Assessing Officer was did is to ignore the finding and merely acted based upon the directions of the Enforcement Wing Officials thereby abdicating its power as an Assessing Officer. That apart, as a subordinate statutory authority, the findings rendered by the appellate authority are binding on the Assessing Officer. These aspects have been ignored by the Tribunal while reversing the order passed by the first appellate authority. - HC

  • Recovery of sales tax dues - liability of third person (spouse) who has giving the property as security - Raising of encumbrance created by way of Intimation - the security bond was not executed in her capacity as wife of the Proprietor and she executed the same in her capacity as an 'individual person' and she has given an undertaking that in the event of non-payment of statutory dues, the immovable property given by way of security can be attached - Petition dismissed - HC


Notifications


News


Case Laws:

  • GST

  • 2021 (4) TMI 424
  • 2021 (4) TMI 419
  • 2021 (4) TMI 418
  • 2021 (4) TMI 415
  • Income Tax

  • 2021 (4) TMI 420
  • 2021 (4) TMI 417
  • 2021 (4) TMI 416
  • 2021 (4) TMI 409
  • 2021 (4) TMI 408
  • 2021 (4) TMI 406
  • 2021 (4) TMI 405
  • 2021 (4) TMI 404
  • 2021 (4) TMI 399
  • 2021 (4) TMI 398
  • 2021 (4) TMI 397
  • 2021 (4) TMI 395
  • 2021 (4) TMI 394
  • 2021 (4) TMI 393
  • 2021 (4) TMI 392
  • 2021 (4) TMI 390
  • 2021 (4) TMI 388
  • 2021 (4) TMI 385
  • 2021 (4) TMI 383
  • 2021 (4) TMI 381
  • 2021 (4) TMI 380
  • 2021 (4) TMI 379
  • 2021 (4) TMI 378
  • 2021 (4) TMI 377
  • 2021 (4) TMI 376
  • 2021 (4) TMI 375
  • 2021 (4) TMI 374
  • 2021 (4) TMI 373
  • 2021 (4) TMI 372
  • 2021 (4) TMI 371
  • 2021 (4) TMI 370
  • Customs

  • 2021 (4) TMI 423
  • 2021 (4) TMI 422
  • 2021 (4) TMI 410
  • 2021 (4) TMI 401
  • 2021 (4) TMI 386
  • Insolvency & Bankruptcy

  • 2021 (4) TMI 402
  • 2021 (4) TMI 396
  • Service Tax

  • 2021 (4) TMI 389
  • 2021 (4) TMI 387
  • Central Excise

  • 2021 (4) TMI 400
  • 2021 (4) TMI 391
  • 2021 (4) TMI 384
  • 2021 (4) TMI 382
  • CST, VAT & Sales Tax

  • 2021 (4) TMI 421
  • 2021 (4) TMI 414
  • 2021 (4) TMI 413
  • 2021 (4) TMI 412
  • 2021 (4) TMI 411
  • 2021 (4) TMI 407
  • 2021 (4) TMI 403
 

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