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Home e-Newsletters Index Year 2019 January Day 12 - Saturday

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TMI Tax Updates - e-Newsletter
January 12, 2019

Case Laws in this Newsletter:

GST Income Tax Customs Corporate Laws Insolvency & Bankruptcy PMLA Service Tax Central Excise CST, VAT & Sales Tax Indian Laws



Highlights / Catch Notes

  • Income Tax:

    Compensation received from transfer of development rights - the land and building earlier in the possession of the Assessee continued to remain with it - any receipt from transfer of TDR in the present case cannot be taxed as a capital gain

  • Income Tax:

    Fixed place permanent establishments - India-USA DTAA - GE carried on business in India through its fixed place of business (i.e the premises), through the premises - The intricate nature of activities it has carefully designed, where technical officials having varying degree of authority involve themselves - Existence of PE in India established.

  • Income Tax:

    Condonation of delay - No doubt the explanation offered is not convincing but there is nothing on record brought by the Revenue to show that the appellant had purposely and willfully delayed in filing the appeal within the period of limitation - Delay condoned.

  • Income Tax:

    Disallowance of motor car running expenses - the assessee being a juridical person, even if there is some element of personal use of car by the directors, it continues to be for business purposes of the assessee nevertheless - Claim of expenses allowed.

  • Income Tax:

    Assessment u/s 153A - When the search u/s 132 was conducted and to be valid, the warrant and notice should be issued in the name of the successor only whereas these, in the present case, had been issued in the name of Nahar Enterprises, a non-existent entity which could not be said to be mere clerical mistake.

  • Customs:

    Seeks to remove pre-import condition and include specified deemed export supplies for exemption from integrated tax and Compensation cess for materials imported against Advance Authorizations and Advance Authorizations for Annual Requirement

  • DGFT:

    Amendment in Standard Input-Output Norms (SION) at S.No. H-97 - Flexible Intermediate Bulk Containers (Builder Bag)

  • IBC:

    IBC - though the resolution applicant has no voting right in the CoC; and it is the CoC to approve or reject the resolution plan, an opportunity ought to have been provided to the resolution applicant to attend the meeting of the CoC in which the Resolution Plan is to be considered

  • PMLA:

    The contention that assets acquired prior to enactment of the PMLA could never fall under the scope of the definition of the expression ‘proceeds of crime’ and consequently are immune from the provisions of the PMLA, is erroneous and is accordingly rejected.

  • Service Tax:

    CENVAT Credit - unregistered premises taken on rent - appellant’s premises appears to be one and same having different room numbers as throughout the case record, room number and premises number are used interchangeably - availment of cenvat credit against renting of premises number 67 is admissible.

  • Service Tax:

    Penalty u/s 78 - cash crisis/ fund shortage - cash crunch could not be substantiated by it as it could generate cash of huge amount for payment within two days of visit by the departmental officials to is premises - Levy of penalty confirmed.

  • Service Tax:

    Rectification of Mistake - Having held that penalty is not imposable, it cannot be held that penalty under Section 78 would be restricted to the extent of confirmation of demand.

  • Service Tax:

    Insurance service or not - The activity undertaken by the appellants is mandatory and in discharge of statutory obligation in the performance of sovereign functions of the State Govt. Therefore, the appellant’s case is squarely covered by the Circular as “Life Insurance”.

  • Service Tax:

    Construction of residential complex services - after such construction the ultimate owner receives such property for his personal use, then such activity would not be subjected to Service Tax

  • Central Excise:

    Validity of SCN - Jurisdiction - The Central Government clearly understood the manufacturing process and taken into consideration that the return quantity of LPG has ultimately been cleared on payment of appropriate duty by oil Companies - SCN was rightly quashed.

  • Central Excise:

    The original authority has travelled beyond the show-cause notice and proposed the recovery under one provision of the Central Excise Act whereas confirmed the demand under different provisions of law which is not permitted under law.

  • Central Excise:

    Valuation - inclusion of profit earned on transportation charges - due to transportation in their own vehicle, manufacturer has earned the profit on account of transportation of the goods - In any case, transportation charges are not includable in the assessable value of the goods as freight charges are separately shown in the Invoice.


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • GST

  • 2019 (1) TMI 552
  • 2019 (1) TMI 551
  • 2019 (1) TMI 550
  • 2019 (1) TMI 549
  • Income Tax

  • 2019 (1) TMI 539
  • 2019 (1) TMI 538
  • 2019 (1) TMI 537
  • 2019 (1) TMI 548
  • 2019 (1) TMI 547
  • 2019 (1) TMI 536
  • 2019 (1) TMI 532
  • 2019 (1) TMI 531
  • 2019 (1) TMI 546
  • 2019 (1) TMI 545
  • 2019 (1) TMI 544
  • 2019 (1) TMI 543
  • 2019 (1) TMI 530
  • 2019 (1) TMI 529
  • 2019 (1) TMI 528
  • 2019 (1) TMI 526
  • 2019 (1) TMI 525
  • 2019 (1) TMI 542
  • 2019 (1) TMI 541
  • 2019 (1) TMI 540
  • 2019 (1) TMI 524
  • 2019 (1) TMI 535
  • 2019 (1) TMI 534
  • 2019 (1) TMI 527
  • 2019 (1) TMI 533
  • Customs

  • 2019 (1) TMI 519
  • 2019 (1) TMI 518
  • 2019 (1) TMI 517
  • 2019 (1) TMI 516
  • Corporate Laws

  • 2019 (1) TMI 520
  • Insolvency & Bankruptcy

  • 2019 (1) TMI 523
  • 2019 (1) TMI 522
  • 2019 (1) TMI 521
  • PMLA

  • 2019 (1) TMI 515
  • Service Tax

  • 2019 (1) TMI 513
  • 2019 (1) TMI 512
  • 2019 (1) TMI 511
  • 2019 (1) TMI 510
  • 2019 (1) TMI 509
  • 2019 (1) TMI 508
  • 2019 (1) TMI 507
  • 2019 (1) TMI 506
  • 2019 (1) TMI 505
  • 2019 (1) TMI 504
  • 2019 (1) TMI 503
  • 2019 (1) TMI 502
  • 2019 (1) TMI 501
  • 2019 (1) TMI 500
  • Central Excise

  • 2019 (1) TMI 498
  • 2019 (1) TMI 497
  • 2019 (1) TMI 496
  • 2019 (1) TMI 495
  • 2019 (1) TMI 499
  • 2019 (1) TMI 494
  • 2019 (1) TMI 493
  • CST, VAT & Sales Tax

  • 2019 (1) TMI 492
  • 2019 (1) TMI 491
  • 2019 (1) TMI 490
  • 2019 (1) TMI 489
  • Indian Laws

  • 2019 (1) TMI 514
 

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