2018 (5) TMI 1494
Inter-state trade - purchase of high speed diesel in the course of manufacturing of cement - C-Form - Chhattisgarh Value Added Tax Act, 2005 - situation post GST-implementation. - Whether the petitioner is entitled to be issued C-Form under the Central Sales Tax Act, 1956 read with the Central Sales Tax (Registration and Turnover) Rules, 1957 in respect of high speed diesel purchased by it in the course of inter-State trade and used by it in the ....... + More
2018 (5) TMI 1493
Condonation of Delay in filing appeal - proceedings have already been initiated for realisation of the amounts covered by the order impugned in the appeal - Held that - it is appropriate to dispose of the writ petition directing the Tribunal to consider the application preferred by the petitioner to condone the delay in filing the appeal....... + More
2018 (5) TMI 1492
Scope of the scrutiny assessment - Jurisdiction to assess the income u/s 143(3) as per the CBDT circular - Whether the funds received in the form of share premium are from disclosed sources - additions u/s 56(2)(viib) - the issue whether the funds received by a company in the form of share premium have been correctly offered for tax has to be determined and assessed in accordance with the said provision. - Held that - the assessee cannot be heard....... + More
2018 (5) TMI 1491
Stay of recovery of demand - Taxation of unexplained cash credits u/s 68 - whether assessee is entitled for exemption u/s 80P - the assessee has has credited in their books of account cash receipts and despite of several notices, the assessee has not divulged the source thereof - Held that - if the asessee divulged the sources of the cash credits referred to by the assessing officer when called for, a situation of this nature would not have arise....... + More
2018 (5) TMI 1490
Revision u/s 263 - doctrine of merger - Whether the purchases were bogus - Held that - The entire issue was at large before the Appellate Commissioner. It is well known that the Commissioner (Appeals) while hearing the assessee s appeal has powers to even enhance the assessment. If he was of the opinion that not only limited additions made by the Assessing Officer but much larger additions were justified, he could have certainly exercised such po....... + More
2018 (5) TMI 1489
Reopening the assessment u/s 147 after processing of return u/s 143 - assessee is a broker and has made Client Code Modification CCM - normally a broker charges 0.5% to 1% of losses/profits - as per AO CCM were not genuine and from which the assessee would have earned sizeable unaccounted income as a broker - Held that - the reasons recorded by the AO does not lack validity and AO have reason to form belief that income chargeable to tax had escap....... + More
2018 (5) TMI 1488
Disallowance of Employees Contribution to PF & ESI u/s 36(1)(va) - Held that - no disallowance can be made towards PF/ESI contributions made by the assessee within the FY or before filing of the return - here the assessee has remitted the employees contribution to PF & ESI before the filing of the return u/s 139(1) - thus the assessee was entitled to deductions under sections 43B and 36(1)(va) - Decided in favor of assessee........ + More
2018 (5) TMI 1487
Jurisdiction of ITAT to entertain the appeal against the penalty order u/s 271F - Held that - in the case of the Citizen Cooperative Society Ltd, Hyderabad vs. DIT (I&CI) 2018 (2) TMI 426 - ITAT HYDERABAD has observed that, since a penalty order u/s. 271FA is not directly appealable order before this forum, the appeal preferred by assessee is liable to be dismissed. - In the course of arguments, assessee s counsel was advised to prefer an appeal ....... + More
2018 (5) TMI 1486
Whether the delay of 1142 days in filing of the appeal before CIT(A) can be condoned - order passed u/s 200A(1) was appealable before 1.6.2015 or not - Held that - When a case with arguable points is shut on presumptions of limitation, it results in throwing out a good case at the threshold with only a necessary implication of justice being propagated and justice being denied. - the delay in filing of appeal before CIT(A) is to be condoned in the....... + More
2018 (5) TMI 1485
Applicability of section 13(1)(b) - claim for the benefit of exemption u/s 11 & 12 - trust created for the benefit of a particular religious community - Held that - as per decision in case of CIT vs Dawoodi Bohara Jamat 2014 (3) TMI 652 - SUPREME COURT - It is only the objects of a trust as declared in the trust deed which would govern its right of exemption u/s 11 or 12 - thus the case is remitted back to the authority to consider the law on....... + More
2018 (5) TMI 1484
Deposits in the bank accounts by both cheques and cash - unexplained cash income U/s 68 - cheque deposits were accepted as business turnover u/s 44AD - none appeared on behalf of assessee - appeal by the CIT(A) was also determined ex-parte - Held that - there is no reason why the cash deposits should be assessed u/s 68 when cheque deposits were accepted as business turnover - assessee has not co-operated in the proceedings - order of CIT(A) is co....... + More
2018 (5) TMI 1483
Commercial Concern or not - Whether the services provided with the objective of awareness of the preservation of historic buildings of the town and domestic architecture are commercial in nature - Held that - the agreement furnished by the assessee shows that they had no profit motive and cannot fall under the nature of a commercial concern - thus no tax along with interest penalties and penalties shall be imposed - thus the demand cannot sustain....... + More
2018 (5) TMI 1482
Exemption u/s 11 - charitable purpose u/s 2(15) - Whether or not the activity of running school buses exclusively for the facility of the students and staff, is an intrinsic part of the activity of running a school? - Held that - the transport facility is not provided to the outsider - the transport activities of the assessee trust are not in the nature of business, inasmuch as the transport is also incidental to the attainment of the main object....... + More
2018 (5) TMI 1481
Application of section 40(a)(ia) - additions made for expense common area maintenance and rent for non deduction of TDS - Held that - if a person furnishes a declaration in writing in prescribed Form and verified in the prescribed manner to the effect that tax on his estimated total income is to be included in computing his total income will be nil there is no need to deduct tax - here assessee has not filed such Form 26A with Director General of....... + More
2018 (5) TMI 1480
Disallowance of bad debts due to failure of rental payments - disallowance of amount paid on out of court settlement by the assessee on behalf of the subsidiary company - set off and carry forward of unabsorbed depreciation- Held that - assessee is a NBFC and was advancing loans to its customer as one of its objects - the decision of the assessee to write off ₹ 4. 71 crores was a commercial/business decision - The AO cannot question the bus....... + More
2018 (5) TMI 1479
Violation of import conditions - DEEC license - It is detected that the appellant had consumed lesser quantity than the prescribed under the standard norms for manufacture of their export product and as a result the quantity of inputs imported duty free saved in the process - Confiscation - redemption fine - penalties - Held that - Hon ble Bombay High Court in their own case ARKEMA CATALYST INDIA PVT. LTD. VERSUS UNION OF INDIA 2009 (10) TMI 630 ....... + More
2018 (5) TMI 1478
100% EOU - violation of import conditions - N/N. 53/97-Cus. Dt.3.6.97 - case of the department is based on the allegation that respondent did not use the imported raw materials for manufacture of final products, but removed them as such which is violation of condition of notification - time limitation. - Held that - the Department was informed that the appellants are not able to use the goods for manufacture of adaptors and chargers as intended b....... + More
2018 (5) TMI 1477
Valuation - enhancement of value based on contemporaneous imports - no speaking order - Held that - The basic premise is that since duty was paid on enhanced value after re assessment under Section 17 of the Customs Act, 1962, there is no question of challenging the same - it is found that the appellants have filed appeals within statutory period against all the impugned bills of entry before the Ld. Commissioner (Appeals) challenging the said as....... + More
2018 (5) TMI 1476
Refund claim - case of Revenue is that no refund could be sanctioned unless the incorrect assessments were modified in appeal on the basis of the CBEC Circular No.24/2004-Cus dt. 18/03/2004 - case of appellant is that that the Commissioner(Appeals) has wrongly held that the assessment carried out by the Department was accepted in toto by the appellant and once the assessment is accepted, the appellant has no cause of action to challenge the said ....... + More
2018 (5) TMI 1475
Mutilation of goods - scrap imported - Held that - in view of the principles of law settled by this Tribunal in DEWAN STEEL INDUSTRIES VERSUS COMMISSIONER OF CUSTOMS, AMRITSAR 2008 (2) TMI 128 - CESTAT, NEW DELHI , where under this Tribunal has directed clearance of imported goods after mutilation and conversion into scrap. - It is directed that before clearance of the imported scrap, the same could be mutilated and allowed to be cleared as scrap....... + More
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