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Tax Updates - TMI e-Newsletters

Home e-Newsletters Index Year 2020 January Day 31 - Friday

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TMI Tax Updates - e-Newsletter
January 31, 2020

Case Laws in this Newsletter:

GST Income Tax Insolvency & Bankruptcy Service Tax Central Excise Indian Laws



Highlights / Catch Notes

  • GST:

    Rate of CGST and SGST - Namkeen duly packed & sealed in printed pouches - if the applicant voluntarily foregoes the brand name (Name of the manufacturer in this case) used by them subject to conditions as in the Annexure of the said notification, the applicant shall be eligible for reduced rate of from duty under the said notification.

  • GST:

    Classification of goods - rate of GST - Milk Powder - 'lnstant Tea Whitener' - the said product cannot be manufactured without milk and all other ingredients are ancillary in nature - the impugned product shall be aptly classifiable under Chapter Heading 0402 - GST rate applicable accordingly.

  • GST:

    Supply of services or not - amount recovered from the employees towards parental insurance premium payable to the insurance company - pure agent services or not - The recovery of premium amount from employee and subsequent deposit it with insurance company cannot be treated as supply of service in the course of furtherance of business.

  • GST:

    Levy of GST - intermediary services or not - The pre-sale and marketing service provided by the Appellant of the products of the overseas client - Infinera US, is in the nature of facilitating the supply of the products of the overseas client and is appropriately classified as an ‘intermediary service’ as defined under Section 2(13) of the IGST Act.

  • Income Tax:

    Assessment u/s 153A - the proposition made by the revenue towards making addition on the basis of the figures mentioned on the said loose dumb document cannot be considered to be valid evidence in the absence of any enquiry made by the authorities which ought to have done in the manner as already dealt with us hereinabove. No authority acting judicially would have acted on the basis of a loose paper having no evidentiary value had there been minimum application of mind.

  • Income Tax:

    Deduction u/s 10B - products namely CT/PT manufactured or not? - Assessee during the year has paid the job worker the labour charges to its associated concern as evident from the copies of the ledgers. Therefore, the finding of the AO that there was no labour charge paid by the assessee is based on wrong assumption of facts.

  • Income Tax:

    Unexplained cash credit u/s 68 - income of the assessee is accepted u/s. 44AD - the bank statements supplied by the bank to the assessee in the present case could not be regarded as a book of the assessee, nor a book maintained by the assessee or under his instructions.

  • Income Tax:

    Validity of Search and seizure action carried out u/s 132 - stock-in-trade (jewellery) was seized - Denial of release of jewellery - No hesitation to observe that the officer in this case has completely ignored the mandate of law. It is also to be mentioned that despite the unlawful action, the Petitioner has been denied release of the jewellery, regardless of his repeatedly representations made to the department.

  • Income Tax:

    Correct head of income - interest income on fixed deposits in Banks - assessee is under the process of setting up of infrastructure facility of Expressway - The assessee reduced the interest from its work-in- progress - so the interest earned could not be treated as income from other sources.

  • Income Tax:

    Amortization of investment “held to maturity”- allowable expenditure u/s 37(1) or not? - it cannot be denied by the authorities under the pretext that it was showing as investment in the balance sheet.

  • Income Tax:

    MAT applicability to the assessee Banking Companies u/s 115JB - the provisions of Section 115JB(2) of the Act do not apply to the Banking companies.

  • Indian Laws:

    Dishonor of Cheque - Where the proceedings under Section 138 of the Act had already commenced and during the pendency, the company gets dissolved, the directors and the other accused cannot escape by citing its dissolution. - Where the company continues to remain even at the end of the resolution process, the only consequence is that the erstwhile directors can no longer represent it.

  • Service Tax:

    Demand of service tax on Notice pay - Though normally, a contract of employment qua an employer and employee has to be read as a whole, there are situations within a contract that constitute rendition of service such as breach of a stipulation of noncompete. Notice pay, in lieu of sudden termination however, does not give rise to the rendition of service either by the employer or the employee.


Articles


Notifications


Circulars / Instructions / Orders


Case Laws:

  • GST

  • 2020 (1) TMI 1125
  • 2020 (1) TMI 1097
  • 2020 (1) TMI 1124
  • 2020 (1) TMI 1123
  • 2020 (1) TMI 1122
  • Income Tax

  • 2020 (1) TMI 1112
  • 2020 (1) TMI 1121
  • 2020 (1) TMI 1120
  • 2020 (1) TMI 1119
  • 2020 (1) TMI 1111
  • 2020 (1) TMI 1101
  • 2020 (1) TMI 1118
  • 2020 (1) TMI 1110
  • 2020 (1) TMI 1109
  • 2020 (1) TMI 1100
  • 2020 (1) TMI 1117
  • 2020 (1) TMI 1108
  • 2020 (1) TMI 1107
  • 2020 (1) TMI 1106
  • 2020 (1) TMI 1098
  • 2020 (1) TMI 1116
  • 2020 (1) TMI 1115
  • 2020 (1) TMI 1114
  • 2020 (1) TMI 1094
  • 2020 (1) TMI 1105
  • 2020 (1) TMI 1104
  • Insolvency & Bankruptcy

  • 2020 (1) TMI 1113
  • Service Tax

  • 2020 (1) TMI 1096
  • Central Excise

  • 2020 (1) TMI 1095
  • Indian Laws

  • 2020 (1) TMI 1102
  • 2020 (1) TMI 1099
  • 2020 (1) TMI 1103
 

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