2018 (8) TMI 990
Levy of penalty u/s 271(1)(c) - ITAT deleted the penalty - voluntary disclosure by the assessee to buy peace - additions were made on account of gift - assessee had not given details like name of the donor, mode of receipt, etc. - Additions towards unsecured loans - Additions were made on account of undisclosed rental income - Held that - Under Section 271(1)(c) of the 1961 Act, the imposition of penalty is not automatic whenever there is less in....... + More
2018 (8) TMI 989
Search and seizure u/s 132 - reason to believe - whether the search and seizer is arbitrary, illegal and violative of fundamental rights of the petitioner - the petitioner society is one of the largest Multi State Cooperative Societies in the field of the Credit. - an order was passed u/s 133A(3)(ia) of the Act, by which, the documents as well as electronic media in the form of hard disk/CD/ Pen Drive etc. seized during the course of survey proce....... + More
2018 (8) TMI 988
Reopening of assessment - error committed by the original assessing officer (AO) - Prior period depreciation - Prepayment premium on IDFC Term Loan - Excess depreciation on Plant and Machinery - Excess depreciation on the intangible asset Brand Name by wrongly adopting the WDV - Held that - The depreciation Schedule as per the IT Rules was shown to us by the AO as available in the records. It contains the depreciation for plant and machinery and ....... + More
2018 (8) TMI 987
Capital Gains - sale of agricultural land - scope of capital asset u/s 2(14) - AO rejected the claim of the assessee of exempt profit mainly on the ground that the land in question was sold to an industrial unit and had potential to be used for industrial purpose and therefore, the same was held as business profit - ITAT deleted the additions and allowed the benefit of exemption - Held that - the land was sold as an agricultural land and in fact,....... + More
2018 (8) TMI 986
Deduction u/s 80HHC / 010A, - supporting manufacturer and the export house - Held that - The Tribunal found that since both the supporting manufacturer and export house had profits in the relevant year, there is no question of application of IPCA Laboratory Ltd. (supra) and the assessee was entitled to the deduction. We agree with the finding on principle. - But, the learned Senior Counsel, Government of India (Taxes), however, would contend that....... + More
2018 (8) TMI 985
Deduction u/s 10A - eligible activity - Whether the processing of prawns undertaken by the assessee under IQF (Individual Quick Freezing) can be termed to be a manufacture or production - Claim of expenditure/ deduction towards contribution made in the Fishermen s Welfare Fund, which Fund - Fund was declared unconstitutional by the judgment of the Honourable Supreme Court - Held that - Any assessee, who was entitled to the benefit prior to the su....... + More
2018 (8) TMI 984
Exemption u/s 11 - Charitable activity - whether the activities of the assessee authority are covered by first and second proviso to section 2(15) of the Act and thus not entitled to exemption u/s. 11 and 12 as per provisions of section 13(8) of the Act? - Held that - as the issues involved in the present Tax Appeal/s are now not res integra and since the decision of the Division Bench of this Court is against the Department, in view of the afore....... + More
2018 (8) TMI 974
Input tax credit - migration to GST Regime - unable to upload FORM GST TRAN-1 within the stipulated time - Held that - The Ext.P14 is the circular issued by the Government of India for setting up an IT Grievance Redressal Mechanism to address the grievances of taxpayers due to technical glitches on GST Portal. - Not only the petitioner but also many other people faced this technical glitch and approached this Court. - The petitioner may apply to ....... + More
2018 (8) TMI 973
Input tax credit - migration to GST Regime - unable to generate FORM GST TRAN-2 - Held that - It is appropriate to dispose of the writ petition permitting the petitioner to prefer a representation pointing out the grievance before the additional eighth respondent, the Nodal Officer appointed to resolve the issues of this nature - petition disposed off........ + More
2018 (8) TMI 967
Confiscation - Gold - stand taken by the first respondent was that the articles were confiscated not from the petitioner but from the second respondent/Southern Gold Pvt.Ltd., and that only they would be allowed to obtain release of the gold on payment of the redemption fine - Held that - It is deemed appropriate to order this writ petition leaving liberty to the petitioner to approach the competent Authority for release of the gold on payment of....... + More
2018 (8) TMI 953
Principles of Natural Justice - Method of Valuation - Section 4 or 4A of CEA - Held that - Perusal of the impugned orders would also show that the respondents 1 and 3 have not stated anything more than extracting the relevant provision of law, namely, definition of pre-packaged commodity , as defined under section 2(l) of Legal Metrology Act, 2009, and also to indicate that the commodity consisting of tyre, tube or tyre, tube and flaps in the for....... + More
2018 (8) TMI 941
Sales Tax incentive scheme - Package Scheme of Incentive - Eligibility Certificate - benefits sanctioned by the Government of Maharashtra under the 1993 scheme - reopening of assessment on account of change in opinion - Held that - The petitioner was entitled to utilize the benefits available under the 1993 Package Scheme between 1.09.1999 to 31.08.2013 or on the exhausting the monetary ceiling, whichever occurred earlier. According to the petiti....... + More
2018 (8) TMI 940
Revision of assessment - TNVAT Act - VAT audit conducted in the business premises of the petitioner - Authorization by the Commissioner as required under the TNVAT Act - Held that - This Court had an occasion to consider the validity of similar orders in the case of M/s.Empress Audio vs. Commissioner of Commercial Taxes and Others 2018 (6) TMI 1239 - MADRAS HIGH COURT , where it was held that the authorization was by the Commissioner, the compete....... + More
2018 (8) TMI 939
Principles of Natural Justice - Whether the prescribed authority can issue a notice of re-assessment under Section 39(1) of the KVAT Act read with Section 9(2) of the CST Act, without first recording his satisfaction/belief that there is an understatement of tax liability? - Similar issue decided in the case of The State of Karnataka vs. M/s. V.N.Corporation 2018 (8) TMI 935 - KARNATAKA HIGH COURT , where it was held that giving one declaration f....... + More
2018 (8) TMI 938
Prayer to withdraw petition - transfer of property in goods involved in the execution of works contracts - the processes of dyeing and printing of cloth - Held that - Apex court in the case of TVL. SSM Processing Mills 2014 (8) TMI 1150 - SUPREME COURT OF INDIA has permitted the appellant therein to withdraw the SLP and granted permission to raise other additional queries before the appropriate forum - Thus, granting liberty, SLP has been dismiss....... + More
2018 (8) TMI 937
Revision of return - petitioner failed to include the purchased item in the return submitted by it, for December 2016 - Held that - When a dealer wants to revise a return, the Assessing Authority, as the Act mandates, must accept it - the 2nd respondent is directed to permit the petitioner to revise the returns for December 2016 - petition disposed off........ + More
2018 (8) TMI 936
Penalty - Misuse of Form C - non-production of Form C of Central Sales Tax Act - Section 10(a) of the Central Sales Tax Act, 1986 - It is the case of the petitioner that mens rea is established by conduct of the respondent himself and the question of reestablishing the mens rea, does not arise - Held that - The main ingredient under Section 10(a) of the Act is that unless it makes out that the respondent or purchaser has used Form-C for the purpo....... + More
2018 (8) TMI 935
Branch transfers or stock transfers - declaration of F Form under Rule 12(5) of the Central Sales Tax (Registration and Turnover) Rules, 1957 - Time Limitation - declaration to be filed within a period of one calendar month - Held that - Rule 12(5) of the CST (R & T) Rules, 1957, is directory in nature and the second proviso of Rule 12(5) of the CST (R & T) Rules, 1957, clearly envisages that the particulars to be furnished in F Forms can....... + More
2018 (8) TMI 927
Validity of notice issued u/s 148 - reopening of an assessment - notice was served at a wrong address - presumption related to address - address collected by the department from the bank, whereas known address was available with the department on Saral Form-5 of the petitioner - The assessee took the specific plea that he had filed his return of income for the year under consideration i. e. 1999-2000 on the changed address i.e. 2, Rishi Marg, Sha....... + More
2018 (8) TMI 926
Levy of penalty u/s 271(1)(c) - appellant wrongly claimed loss by debiting it to P & L Account on account of loss on sale of assets whereas the same was capital loss and not business loss. - The Tribunal had held that the claim of the assessee to treat loss on sale of assets as business loss was not a bona-fide mistake and, therefore, the penalty under Section 271(1)(c) of the Act was imposable. - Held that - In order to attract the provision....... + More
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