Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Tax Updates - TMI e-Newsletters

Home e-Newsletters Index Year 2022 April Day 18 - Monday

TMI e-Newsletters FAQ
You need to Subscribe a package.

Newsletter: Where Service Meets Reader Approval.

TMI Tax Updates - e-Newsletter
April 18, 2022

Case Laws in this Newsletter:

GST Income Tax Securities / SEBI Insolvency & Bankruptcy Service Tax Central Excise CST, VAT & Sales Tax



Highlights / Catch Notes

    GST

  • Refund of IGST - Restoration / Re-credit to the ITC ledger - payment of IGST on exports, and thereafter claimed refund of such IGST on exports - It cannot be that for the purpose of repayment, there was an error, and for the purpose of restoration of the ITC, there was no error. There is no question of any refund of the ITC at all. The question is one of restoration of the ITC in the electronic credit ledger and not a refund thereof. Hence, any reference to sub-rule (10) of rule 96 of the CGST Rules is completely misconceived and not tenable - the respondent authorities are directed to re-credit/restore the ITC in the electronic tax ledger of the writ- applicant. - HC

  • Revocation of cancellation of registration of applicant - non-filing of returns - Since the registration of certificate of the writ-applicants came to be cancelled solely on the ground of non-filing of the returns, which was on account of non-payment of tax and the writ-applicants now having paid such outstanding tax, the registration certificate of the writ-applicants should be ordered to be restored so that they are able to continue with their business. - HC

  • Seeking condonation of delay of 1310 days in filing the accompanying appeal - it is common knowledge, of which we take judicial notice, that since January 2017, the orders of the Tribunal are uploaded, and, hence, available on its website. The appellant, thus, cannot take refuge of lack of knowledge or, at least, means to acquire knowledge, concerning the impugned order passed by the Tribunal. - HC

  • Validity of Show cause notice issued u/s 74 - Erroneous Refund - Section 74(1) of the OGST Act does not appear to make any distinction between those refund orders that have been passed without an adjudication and those have been passed after an adjudication. Also, there is nothing in Section 74 (1) of the OGST act to indicate that an order of refund granted after an adjudication cannot be sought to be reopened thereunder. - It would be open to the Petitioner to raise all such other contentions in its reply to the SCN which will then be examined and disposed of in accordance with law by the Department. - HC

  • Refund alongwith the interest - generation of e-way bill in the name of petitioner was a bona fide mistake or not - Apparently, courier receipt/invoice and eway bill, pertains to same transaction but the generation of e-way bill is in incorrect name. The mistake appears to be bona fide inasmuch as the detail of vehicle, dispatch date is same. The case in hand appears to be a case where e-way bill was generated wrongly in the name of petitioner on account of some clerical or typographical error, therefore, the impugned orders are quashed. - HC

  • Income Tax

  • Revision u/s 264 - Refund of excess tax paid - Admittedly, petitioner has paid more capital gains than what should have been paid. Capital gains has to be calculated on the basis of what actual consideration has been received. Certainly, petitioner has not received his proportionate share to the extent from ₹ 9,17,04,240/- that was reduced from the escrow account.In the circumstances we hold that petitioner be entitled to refund of excess tax paid on the excess capital gains shown earlier. - HC

  • Dis-allowance u/s.80IB(10) - assessee had failed to file his return of income within the stipulated time u/s 139(1) - the finding recorded by the tribunal as above is that in view of the provisions of Section-92E, the assessee was required to get the transfer pricing report in the Form 3CEB. In such circumstances, the assessee had the benefit of the extended period of the due date for filing of the return. - HC

  • Revision u/s 263 - Reopening of assessment initiated against assessee - Since in the instant case the AO has conducted due enquiry and after being satisfied, accepted the returned income and passed the order under section 143(3)/147 therefore, the order cannot be called as an erroneous order. Therefore, even if the order is prejudicial to the interests of Revenue, but, the same not being erroneous, the twin conditions are not satisfied - AT

  • Reopening of assessment u/s 147 - It is well established that the reasons recorded by the AO cannot be further be substituted or added or deleted - We are of the view that the reference to market value of the flat as determined by stamp duty valuation authority also cannot justify initiation of reassessment proceedings under section 147 of the Act, as the validity of reassessment has to be tested only on the basis of reasons recorded by the Assessing Officer before issuing notice under section 148 of the Act and those reasons cannot be further improved. - AT

  • Validity of Reopening of assessment u/s 147 - eligibility of reasons to believe - initiation of reassessment proceedings u/s.147 of the Act, issuance of notice u/s.147 of the Act, impugned reassessment order as well as first appellate order are hit by second limb of first proviso to section 147 of the Act, therefore, on this count entire action of the AO including impugned reassessment order and first appellate order deserves to be quashed. - AT

  • Revision u/s 263 by CIT - set off of the brought forward "non-speculative business loss" against the "profit of speculative business" - provisions of section 72 and 73, which fall under the Chapter VI - assessee was justified in claiming set off of the brought forward "non-speculative business loss" against the "profit of speculative business" and the Ld. AO has allowed the same, which is very much in accordance with the provisions of the Act. - AT

  • Service Tax

  • Seeking condonation of delay of 1310 days in filing the accompanying appeal - it is common knowledge, of which we take judicial notice, that since January 2017, the orders of the Tribunal are uploaded, and, hence, available on its website. The appellant, thus, cannot take refuge of lack of knowledge or, at least, means to acquire knowledge, concerning the impugned order passed by the Tribunal. - HC

  • Levy of Service Tax - income disclosed under Income Disclosure Scheme (IDS), 2016 - In the present matter Appellant also produced the details of payment received after obtaining Business use (BU) i.e. sales of flats, shop etc. after receipt of the completion certificate. Therefore it cannot be said that the income declared by the Appellant under IDS Scheme is attributable to the taxable service provided by them to their clients. In this case, evidence gathered by the Department is not sufficient to establish even the preponderance of probability. Therefore, the demand on the ground that the income declared under IDS scheme is earned from the taxable service is not sustainable. - AT

  • Levy of service tax - interest free deposit amount collected by the Appellant from the demat account holders under the Scheme - appellant has not collected AMC charges - department could not bring on record any clinching evidence that the deposit has influenced the service charges, the demand is not sustainable. - AT

  • Central Excise

  • Valuation - intent to evade payment of duty - The Tribunal has furnished adequate reasons to justify the perception that the appellant herein had intended to evade payment of duty. The initial order had merely waived the penalty without indicating any reason. Since appropriate reasons relevant to the issue have been indicated in the order impugned upon due considerations being taken into account, the order in appeal does not call for any interference. - HC

  • Violation of the principles of natural justice - Validity of SCN - this Court is of the considered view that, the case projected by the petitioner as if that the documents mainly relied upon by the Revenue, though had been sought for, have not been supplied to the petitioner is not factually correct and it is the case where most of the documents have been supplied to the petitioner and even with regard to the invoices sought for by the petitioner for which the Revenue has given a reply that the numbers of the invoices has been given in the annexure and the same can very well be verified by the petitioner with their suppliers. - Petition dismissed. - HC

  • CENVAT Credit - input services - Erection Commissioning and Installation Services - Works Contract Services - The service provider has classified the services under ECIS and not under Construction Service and paid service tax under the head of ECIS. The ECIS Service independently not covered under the exclusion clause therefore, for this reason also credit cannot be denied. There is a catena of case laws wherein, it was held that the classification of service cannot be disturbed or challenged at the end of service recipient particularly for denial of cenvat credit. - AT

  • Denial of interest on the refund claim sanctioned to the appellant - it is seen that in ordinary course of refund arising out of finalization of provisional assessment would be decided in terms of Rule 9B however if any refund arises on account of challenge to an order passed under Sub Rule (5 )of Rule 9 B then such demand or refund would be governed by section 11 A or Section 11 B as the case may be. - In the instant case there is no finalization of Provisional assessment and there is no challenge to any such assessment, in these circumstances the refund would not be governed by provisions of Rule 9 B. - AT


Articles


News


Case Laws:

  • GST

  • 2022 (4) TMI 755
  • 2022 (4) TMI 754
  • 2022 (4) TMI 753
  • 2022 (4) TMI 752
  • 2022 (4) TMI 751
  • 2022 (4) TMI 749
  • 2022 (4) TMI 748
  • 2022 (4) TMI 747
  • 2022 (4) TMI 704
  • 2022 (4) TMI 703
  • Income Tax

  • 2022 (4) TMI 746
  • 2022 (4) TMI 745
  • 2022 (4) TMI 744
  • 2022 (4) TMI 743
  • 2022 (4) TMI 742
  • 2022 (4) TMI 741
  • 2022 (4) TMI 740
  • 2022 (4) TMI 739
  • 2022 (4) TMI 738
  • 2022 (4) TMI 737
  • 2022 (4) TMI 736
  • 2022 (4) TMI 724
  • 2022 (4) TMI 723
  • 2022 (4) TMI 722
  • 2022 (4) TMI 721
  • 2022 (4) TMI 720
  • 2022 (4) TMI 719
  • 2022 (4) TMI 718
  • 2022 (4) TMI 717
  • 2022 (4) TMI 716
  • 2022 (4) TMI 715
  • 2022 (4) TMI 714
  • 2022 (4) TMI 713
  • 2022 (4) TMI 712
  • 2022 (4) TMI 711
  • 2022 (4) TMI 710
  • 2022 (4) TMI 709
  • 2022 (4) TMI 702
  • Securities / SEBI

  • 2022 (4) TMI 708
  • Insolvency & Bankruptcy

  • 2022 (4) TMI 707
  • Service Tax

  • 2022 (4) TMI 750
  • 2022 (4) TMI 735
  • 2022 (4) TMI 734
  • 2022 (4) TMI 706
  • 2022 (4) TMI 705
  • Central Excise

  • 2022 (4) TMI 733
  • 2022 (4) TMI 732
  • 2022 (4) TMI 731
  • 2022 (4) TMI 730
  • 2022 (4) TMI 729
  • 2022 (4) TMI 728
  • 2022 (4) TMI 727
  • 2022 (4) TMI 726
  • CST, VAT & Sales Tax

  • 2022 (4) TMI 725
 

Quick Updates:Latest Updates