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Showing 1 to 20 of 277760 Records

  • 2018 (7) TMI 1335

    Corporate Insolvency Resolution Process - proof of debt - Held that - The stand of financial creditor (SBI) that the applicant has not come with clean hands and has suppressed facts, cannot be a ground to reject the application if it is otherwise complete. - The other two financial creditors have raised almost similar objections which cannot detain us from proceeding under Section 10 of the Code. The other objection that action under SARFAESI Act....... + More


  • 2018 (7) TMI 1334

    Taxability - sourcing (on a worldwide basis)) of goods which includes wearing apparel, shoe & accessories and fabric - sub-contract - export of services - refund of GST paid on inputs and input services used in export of services - Jurisdiction. - Taxability of above stated services provided by Esprit India to its associate concern in Hong Kong EDCFE under GST regime? - Held that - As per Explanatory Notes to the Scheme of Classification of S....... + More


  • 2018 (7) TMI 1333

    Levy of GST - Unit container - packing being considered as unit container or not? - Sheep/goat meat in carcasses of different weight and size in frozen Slate and similarly whole chicken of different weight and size is also supplied in frozen State to Army - case of applicant is that the dispatches made by them in LDPF/HDPE bags, both primary well as secondary packing do not qualify as unit container and therefore their product is not leviable to ....... + More


  • 2018 (7) TMI 1332

    Classification of goods - Brake Pad and Auto Parts - whether the goods to fall under ITC HSN 87083000 attracting 28% GST or ITC HSN 6813 attracting 18% GST? - Held that - The Brake Pads manufactured by the applicant do not qualify under the ITC HSN 6813 since the heading clearly excludes the mounted frictional material and the product of the applicant is a result of frictional material mounted on metal sheets - the HSN heading 8708 classifies par....... + More


  • 2018 (7) TMI 1331

    Composition Levy Scheme - Composite Supply - Manufacturing food as take away only with no sitting facility, is a restaurant service or manufacturing of goods? - scope of supply ........ + More


  • 2018 (7) TMI 1330

    Extension of time period for filing of GST Tran-1 - petitioner has alleged in the petition that despite making several efforts on the last date for filing of the application, the electronic system of the respondent no.2 did not respond - Held that - The respondents are directed to reopen the portal within two weeks from today. In the event they do not do so, they will entertain the GST TRAN-1 of the petitioner manually and pass orders on it after....... + More


  • 2018 (7) TMI 1329

    Seizure of goods - Section 129 (3) of the U.P. GST Act, 2017 - Held that - An interim protection is granted to the petitioner by directing for release of the seized goods along with the vehicle on furnishing of bank guarantee to the tune of ₹ 5,00000/- - goods and vehicle are released forthwith on furnishing of bank guarantee. - Constitution of appellate Tribunal - case of petitioner is that it is only the union to constitute the appellate ....... + More


  • 2018 (7) TMI 1328

    Revision u/s 263 - addition u/s 14A - issue involved in the present appeal is covered against the revenue as relying on The Pr. Commissioner of Income Tax, Patiala Vs. State Bank of Patiala 2017 (5) TMI 843 - PUNJAB AND HARYANA HIGH COURT and The Pr. Commissioner of Income Tax, Patiala Vs. State Bank of Patiala 2017 (5) TMI 1551 - PUNJAB AND HARYANA HIGH COURT - Held that - The Special Leave Petition is dismissed........ + More


  • 2018 (7) TMI 1327

    Retrospective effect of first proviso to section 43B - scope of Amendment to section 43B - omission deletion of the second proviso to Section 43-B regarding restriction of deduction in respect of any sum payable by an employer by way of contribution to provident fund/superannuation fund or any other fund for the welfare of employees, unless it stood paid within the specified due date - Held that - SLP dismissed........ + More


  • 2018 (7) TMI 1326

    Penalty levied under Sections 271D and 271E - whether as the Sections do not specify any minimum penalty or maximum penalty, the cases of the assessee are outside the Amnesty Scheme mentioned? - Held that - Special Leave Petition dismissed........ + More


  • 2018 (7) TMI 1325

    Validity of assessment u/s 153A - Merely visiting the premises on the pretext of concluding the search but not actually finding anything new for being seized cannot give rise to a second panchnama - Held that - There is a delay of 86 days in filing of this special leave petition which has not satisfactorily been explained by learned counsel for the petitioner. - The special leave petition is accordingly dismissed on the ground of delay........ + More


  • 2018 (7) TMI 1324

    Order of furnishing a bank guarantee to get release the entire stock of sugar seized in search - Settlement commission orders - refund claim - Held that - It is well settled that the Department is entitled to secure the tax liability by keeping the goods seized. The petitioner was directed to furnish a bank guarantee of ₹ 63,85,000/-, but instead of complying the aforesaid direction, the petitioner furnished bank guarantee of only ₹ 4....... + More


  • 2018 (7) TMI 1323

    CIT s power of revision u/s 263 - fulfillment of two conditions on the material available on record to exercise power under Section 263 - Held that - It is clear that suo motu power under Section 263 of the Act can be exercised by the Commissioner if two conditions; firstly the assessment order passed is erroneous; and secondly the order is prejudicial to the interest of Revenue are satisfied. - Commissioner, while exercising power under Section ....... + More


  • 2018 (7) TMI 1322

    Powers of revision under Section 264 - Held that - It was only after Assessing Officer, by his order dated 25th March, 2016 held that, this deduction of ₹ 4.25 crores relates to Assessment Year 2012-13 and therefore could not be allowed in the Assessment Year 2013-14 that the petitioner was compelled to file the Revision Petition so as to claim the deduction. This to ensure that, in atleast one of the two assessment years it gets the benefi....... + More


  • 2018 (7) TMI 1321

    Grant of relief to the assessee u/s.80IA(4) - whether income of the assessee from the Industrial Park whether to be assessed under the head Income from Business, without going into admissibility of the claim on merits - Held that - Apex Court reported in COMMR. OF INC. TAX v. COCANADA RADHASWAMI BANK LTD 1965 (4) TMI 11 - SUPREME COURT held that the head under which income is assessed is not relevant for the purpose of claiming exemption under th....... + More


  • 2018 (7) TMI 1320

    Rejecting the application for settlement for all the Assessment Years on the ground that the petitioner had not made true and full disclosures - Held that - The Supreme Court in the case of Ajmera Housing Corporation and another v. Commissioner of Income Tax, 2010 (8) TMI 35 - SUPREME COURT OF INDIA had emphasized the requirement of true and full disclosure in settlement proceedings and high lighted that such disclosures should be made at the out....... + More


  • 2018 (7) TMI 1319

    Penalty u/s 271(1)(c) - non specification of charge - defective notice - Held that - Bare perusal of the notice issued u/s 274 read with section 271(1)(c) of the Act in order to initiate penalty proceedings against the assessee goes to prove that the AO himself was not aware as to whether he is issuing notice to initiate the penalty proceedings either for concealment of particulars of income or furnishing of inaccurate particulars of such income ....... + More


  • 2018 (7) TMI 1318

    Addition on account of car parking space - Held that - In the assessment order, AO mentions that assessee has accepted in his statement that he has received ₹ 2. 5 lakhs per flat towards sale of car parking space and made addition. When particular evidence, more specifically the evidence in the form of diary, has been found in the course of survey and the assessee has explained the said evidence being a yellow diary, to discard the recordin....... + More


  • 2018 (7) TMI 1317

    Rejection of assessee s claim for grant of exemption u/s 54 - Taxability of a particular amount in a particular period - Held that- There will be no grievance if the long term capital gain be taxed in the assessment year 2011-12 on being refunded to him by the PIPL . We direct the AO to take action in the assessment year 2011-12 and assess the long term capital gain at ₹ 5,19,871/-. It is pertinent to observe that we do not find any merit i....... + More


  • 2018 (7) TMI 1316

    Reopening of assessment - allowability on loss on sale of stores - Held that - Assessing Officer had raised specific questions vide requisite notice dated 15.10.2010 with respect to allowability on loss on sale of stores and that the assessee had explained the same without any follow-up question by the Assessing Officer in this regard, in our considered view, the Assessing Officer had indeed formed an opinion about the deductability of loss on sa....... + More


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