Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Tax Updates - TMI e-Newsletters

Home e-Newsletters Index Year 2022 October Day 21 - Friday

TMI e-Newsletters FAQ
Login to see detailed Newsletter

TMI Tax Updates - e-Newsletter
October 21, 2022

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

  • GST:

    Gross violation of principles of natural justice - Scrutiny of the GST returns filed by the petitioner - The learned Additional Government Pleader sought leave to issue notice in Form ASMT 10 in respect of the aspects forming the subject matter of the impugned proceedings and thereafter to assess in compliance with the procedure contemplated under the Act including Section 61. - Directions issued - HC

  • GST:

    Exemption from GST - The courses are being offered by the applicant as a Approved Training Partner of NSDC under the scheme for market led Feebased services under non funded affiliation mode. Thus, it is concluded that the services provided by applicant are as training partner approved by the National Skill Development Corporation and are in relation to Scheme implemented by the National Skill Development Corporation - the services offered by the applicant fall under Sl.No.69 (d) (iii) and therefore eligible for exemption under this notification for CGST and SGST. - AAR

  • GST:

    Supply to the Central Government, State Government or local authority - Undisputedly SUDA, being a registered society, is not a Panchayat or a Municipality or any Board or Cantonment as specified in the above-referred definition of local authority. Further, no documents have been produced wherefrom it can be established that SUDA is an authority who is legally entitled to and entrusted by the Government with the control or management of a local fund. Therefore, SUDA cannot be held as a local authority - AAR

  • GST:

    Exemption from GST - Cotton Seeds “Banaula” - agricultural produce - cotton seed emerging from the intermediate process do not fall in the definition of 'agricultural produce' under GST. It is apparent from the definition of 'agricultural produce' that the government intends to provide exemption to the produce occurring only at the first stage of the cultivation or rearing and not to those which are processed in factories after they are sold by the cultivator/producer. - AAR

  • GST:

    Taxable value - construction services of the apartments - the value of land or undivided share of land is deemed to be one-third of the total amount charged for the supply irrespective of the actual value of land and accordingly the applicant is eligible to avail deduction of one-third of the total amount charged for the supply in arriving at the taxable value of the supply. - AAR

  • GST:

    Seeking grant of anticipatory bail - availment of illegal input tax credit - non-existent firms - once the necessary documents, information has already been provided to the Department regarding the alleged evasion of tax under Input Tax Credit facility, if at all applicant is required to join the investigation, he to my mind is entitled to protection against any possible arrest, particularly when officers/officials of the companies have been rendering all necessary information/ documents to the Department - DSC

  • Income Tax:

    Reopening of assessment u/s 147 - 'reason to believe' - the assessee had not claimed any part of its income as exempt under Sec. 11(1)(a) of the Act - as the “reasons to believe” forming the very basis for taking recourse to proceedings u/s.147 of the Act in the case of the assessee are absolutely misconceived and incorrect, therefore, the very assumption of jurisdiction on the part of the A.O cannot be sustained and is liable to be struck down. - AT

  • Income Tax:

    Validity of reopening of assessment u/s 147 - assessee availed the loan is an accommodation entry provider - The bona fide of the assessee is further proved from the fact that not only the assessee paid interest on the loan availed and deducted tax at source, but, the entire loan amount was repaid to the lender in the financial year 2013-14, even, prior to the completion of the original assessment and much before initiation of proceedings u/s 147 of the Act. - AT

  • Income Tax:

    Reopening of assessment - validity of order passed u/s 148A(d) - if the foundational allegation is missing in the notice issued under Section 148A(b) of the Act, the same cannot be incorporated by issuing a supplementary notice. - HC

  • Income Tax:

    Reopening of assessment - validity of notice issued u/s 148A(b) - By not considering the reply of the Petitioner dated 29th March, 2022, the mandate of Section 148A(c) of the Act has been violated as it casts a duty on the Assessing Officer, by using the expression ‘shall’, to consider the reply of the Petitioner/Assessee in response to the notice under Section 148A(b) before making an order under Section 148A(d) of the Act. - HC

  • Income Tax:

    Income deemed to accrue or arise in India - attribution made to the alleged PE - Ariba India has retained majority of the revenues earned from the clients (around 88% to 97% from AY 2004- 05 to AY 2011-12) and offered the same to tax in India in its income tax returns for each of these years, only a miniscule percentage of the revenues (around 3% to 12.50%) have been paid to Ariba Inc. This clearly shows that there has been no base erosion in terms of taxes to be paid in India by the relevant parties. Hence, we agree that there is no base erosion on account of non-taxability of the assessee. - AT

  • Income Tax:

    Unexplained cash deposit - stand taken by the assessee went unrebutted as the A.O. who is investigator has failed to carry out any investigation to disprove the categorical stand taken by the assessee supported by documents. - additions deleted - AT

  • Customs:

    Import of Toys - Import policy - Wither the goods are excluded under the scope of BIS, the testing of the same could be made mandatory - the testing procedures have to be followed as per the revised policy condition No. 2 (iii), which envisages that ‘sample’ would be randomly picked from each consignment and not ‘samples’ from each consignment, suggesting that only one sample from each consignment only could be sent for testing. If that be so, the apprehension of the appellant appears to be unfounded. - import policy conditions had to be satisfied - HC

  • Customs:

    Adjudication of SCN - Deemed conclusion of proceedings on deposit of duty with interest and penalty - The language makes it clear that the provisions provide for deemed conclusion of the proceedings against the assessees if the payment as regard the duty, interest and penalty thereof stands made by the assessee. It is further seen that the provision is applicable even in the cases of demand having been arisen on account of collusion, wilful mis-statement or suppression, if the same stands accepted by him and the respective duty along with interest and the required penalty stands paid. - AT

  • Corporate Law:

    Scheme of arrangement - the Appellant categorically mentioned that post amalgamation the net-worth of the Transferee Company will remain highly positive and the proposed scheme of arrangement will not result in any dilution in the shareholding of the shareholders of the Transferee Company. The rights of the shareholders of the Transferee Company are not affected as the proposed scheme does not involve any reorganisation in either the shareholding or debt position of the Transferee Company. - NCLT erred in not considering the decisions of this Tribunal which forms judicial precedents. - AT

  • Indian Laws:

    Dishonor of Cheque - Period of limitation for giving notice of demand - A gross injustice shall be incurred to the complainant/petitioner in case he is denied to exclude the period during 17.03.2020 till 20.10.2020 for the purpose of issuing of notice from the date of return memo i.e. 17.03.2020 till the date of issuance of notice i.e. 20.10.2020. - HC

  • Service Tax:

    Refund of CENVAT Credit - alleged lack of nexus - The procedure for claiming such refund, enshrined in notification no. 27/2012-Central Excise Act, 1944 (NT) dated 18th June 2012, must necessarily be in conformity with the boundaries within which the claim of refund is initiated as per rule 5 of CENVAT Credit Rules, 2004. Neither of these provide for any option other than sanction of refund, subject of course, to eligibility of amount in accordance with the formula prescribed therein, and denial of the refund - By denial of refund as a consequence of denial of eligibility for CENVAT credit, the final outcome has traversed beyond the scope of rule 5 - AT

  • Central Excise:

    Process amounting to manufacture - Classification of goods - Sulphur – 90% WG with the brand name of CosavetFertis, which is said to be used as fertilizer - there is no change in definition of ‘manufacture’ and ‘excisable goods’ under the Central Excise Act, nor it is there any new pronouncement of a Judicial or quasi-judicial forum affecting the concepts of manufacture or that of excisable goods or classification. - Demand cannot be sustained - AT

  • Central Excise:

    Benefit of exemption subject to the condition that no Cenvat Credit is availed - The appellant are eligible for exemption under Notification No. 30/2004-C.E. when they have reversed 6% of the value of exempted goods in terms of Rule 6(3)(i). It is found that the appellant’s claim on the applicability of sub-rule (3D) of Rule 6 is also legally sustainable. The said sub-rule provides for a deeming provision to the effect that payment of amount under sub-rule (3) should be considered as credit not taken for the purpose of such exemption notification. - AT


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • GST

  • 2022 (10) TMI 772
  • 2022 (10) TMI 786
  • 2022 (10) TMI 785
  • 2022 (10) TMI 784
  • 2022 (10) TMI 780
  • 2022 (10) TMI 783
  • 2022 (10) TMI 782
  • 2022 (10) TMI 779
  • 2022 (10) TMI 791
  • 2022 (10) TMI 778
  • 2022 (10) TMI 777
  • 2022 (10) TMI 776
  • 2022 (10) TMI 775
  • 2022 (10) TMI 774
  • 2022 (10) TMI 773
  • 2022 (10) TMI 781
  • Income Tax

  • 2022 (10) TMI 790
  • 2022 (10) TMI 767
  • 2022 (10) TMI 766
  • 2022 (10) TMI 789
  • 2022 (10) TMI 788
  • 2022 (10) TMI 771
  • 2022 (10) TMI 765
  • 2022 (10) TMI 764
  • 2022 (10) TMI 763
  • 2022 (10) TMI 762
  • 2022 (10) TMI 770
  • 2022 (10) TMI 761
  • 2022 (10) TMI 760
  • 2022 (10) TMI 759
  • 2022 (10) TMI 758
  • 2022 (10) TMI 757
  • 2022 (10) TMI 756
  • 2022 (10) TMI 755
  • 2022 (10) TMI 769
  • 2022 (10) TMI 754
  • 2022 (10) TMI 787
  • 2022 (10) TMI 768
  • 2022 (10) TMI 753
  • Customs

  • 2022 (10) TMI 749
  • 2022 (10) TMI 748
  • 2022 (10) TMI 747
  • 2022 (10) TMI 752
  • 2022 (10) TMI 751
  • 2022 (10) TMI 750
  • Corporate Laws

  • 2022 (10) TMI 744
  • Insolvency & Bankruptcy

  • 2022 (10) TMI 746
  • 2022 (10) TMI 745
  • 2022 (10) TMI 743
  • 2022 (10) TMI 742
  • 2022 (10) TMI 741
  • 2022 (10) TMI 740
  • 2022 (10) TMI 739
  • PMLA

  • 2022 (10) TMI 738
  • 2022 (10) TMI 737
  • Service Tax

  • 2022 (10) TMI 736
  • 2022 (10) TMI 735
  • 2022 (10) TMI 734
  • 2022 (10) TMI 733
  • Central Excise

  • 2022 (10) TMI 732
  • 2022 (10) TMI 731
  • CST, VAT & Sales Tax

  • 2022 (10) TMI 730
  • Indian Laws

  • 2022 (10) TMI 729
 

Quick Updates:Latest Updates