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Home e-Newsletters Index Year 2020 November Day 10 - Tuesday

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TMI Tax Updates - e-Newsletter
November 10, 2020

Case Laws in this Newsletter:

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



Highlights / Catch Notes

  • GST:

    Search and Seizure - Violence and coercion against the petitioners and their employees - In view of the admitted fact that the search operations were continued well past midnight and summons were issued to 2nd petitioner to appear at 00:30 hrs on 12.12.2019, we do not accept the plea of the respondents that they did not act contrary to established procedure, that the search proceedings were carried out under proper and applicable law and procedure, and no harm or damage were made to any human/person or property and no sentiments were hurt. - Directions issued - HC

  • GST:

    Classification of goods - Nizam Pakku - it is seen [hat the essential character of betel nut (arecanut) remains the same in the product supplied by the applicant. Therefore, following Rule 1 of General principles of Interpretation of the Tariff, the product merits classification under Chapter head 080280 and not under CTH 2106. - only those dried areca nut, not called as betel nut is subjected to 5% GST - The product in hand being betel nut, the applicable rate is 12% of GST - AAR

  • Income Tax:

    Refund the tax paid on admitted income - When the assessment order, which accepts the tax liability as proposed by the assessee, is intact, the consequential order refusing to rectify the defects in filing the returns on wrong advice cannot be sustained. As mandated by law, the assessee filed a self assessment and paid the tax on income assessable to tax along with interest for delayed payment, which is in conformity with the legal provision of Income Tax Act, 1961. - Petition dismissed - HC

  • Income Tax:

    Disallowance of interest expenses - assessee has not charged any interest in respect of advance given to the wife of the one of the key personnel of the company - In view of the huge funds available with the assessee without any interest liability, we find that the issue is squarely covered in favour of assessee. - AT

  • Income Tax:

    Addition being the amounts credited in the capital reserve - income u/s.56 - conversion of partnership firm into company - pursuant to assessee firm receiving capital contribution from PEL to the tune of ₹ 2117.45 Crores, PEL had become 75% partner in the assessee firm. Hence, for all practical purposes, the assessee firm belongs to Piramal group and not to Shriram group as understood by the ld. AO in her assessment order. - there cannot be any allegation that can be levelled on the assessee in the instant case that the capital reserve was created as part of a scheme to avoid tax liability and is part of any colourable device. - there cannot be any taxability either u/s.56(1) or u/s.56(2)(viia) - AT

  • Income Tax:

    Exemption u/s 11 - eligibility for exemption u/s 12A - educational institution - The Tribunal lost sight of the distinction between a claim for registration under Section 12AA and a claim for exemption under Section 11 of the Act. The DIT(E) failed to adhere to the instructions issued by the CBDT which is binding on the DIT(E). As observed earlier, the recent pandemic has taught very many lessons and one of which is that, mode and method of education cannot be in any manner restricted, but should be given the widest meaning that is possible - HC

  • Corporate Law:

    Condonation of delay of 201 days - It is well settled principle in Law that if the ‘explanation’ offered does not smack of mala fide, utmost consideration must be given to a Litigant/Suitor to condone the delay. - This Tribunal, to prevent an ‘Aberration of Justice’ and to ‘Secure the Ends of Justice’ interferes with the impugned order passed by the NCLT, Division Bench -I, Chennai and allows the instant Appeal by condoning the delay in question. - AT

  • Service Tax:

    100% EOU - Refund of CENVAT Credit - Nexus of input services with export - there can be cases where the input service was for output service A which is domestically sold but not an input service for output service B which is exported. However, in this particular case the unit is a 100% export oriented unit and there is no domestic sale. Therefore, there is no scope for such an apprehension. - AT

  • Service Tax:

    Recovery of service tax dues of the company from the director - Attachment of his personal bank account by respondent - the Principal Commissioner informed this Court that the department has no material against the petitioner other than the fact that he was a Director of the assessee-company. - The impugned order is in violation of principles of natural justice - HC

  • Central Excise:

    CENVAT Credit - credit on FFC & MTOP - the department cannot deny the credit availed after collecting the excise duty - demand do not sustain - AT

  • Central Excise:

    Clandestine Manufacture and removal - Pan Masala and scented zarda - Release of applicant on Bail - a person cannot claim as a matter of right to be released on bail merely because he was under detention for half of the maximum sentence prescribed, as when there is lapse on the part of the accused to delay the proceeding, such benefit will not be extended to him. - HC


Articles


Notifications


News


Case Laws:

  • GST

  • 2020 (11) TMI 269
  • 2020 (11) TMI 268
  • Income Tax

  • 2020 (11) TMI 277
  • 2020 (11) TMI 276
  • 2020 (11) TMI 265
  • 2020 (11) TMI 264
  • 2020 (11) TMI 274
  • 2020 (11) TMI 263
  • 2020 (11) TMI 275
  • 2020 (11) TMI 267
  • 2020 (11) TMI 273
  • 2020 (11) TMI 262
  • 2020 (11) TMI 261
  • 2020 (11) TMI 272
  • 2020 (11) TMI 260
  • 2020 (11) TMI 271
  • 2020 (11) TMI 259
  • 2020 (11) TMI 258
  • 2020 (11) TMI 257
  • 2020 (11) TMI 256
  • 2020 (11) TMI 255
  • 2020 (11) TMI 270
  • 2020 (11) TMI 254
  • 2020 (11) TMI 253
  • 2020 (11) TMI 266
  • Customs

  • 2020 (11) TMI 252
  • Corporate Laws

  • 2020 (11) TMI 251
  • 2020 (11) TMI 250
  • 2020 (11) TMI 249
  • 2020 (11) TMI 248
  • 2020 (11) TMI 247
  • Insolvency & Bankruptcy

  • 2020 (11) TMI 246
  • 2020 (11) TMI 245
  • 2020 (11) TMI 244
  • 2020 (11) TMI 243
  • 2020 (11) TMI 242
  • Service Tax

  • 2020 (11) TMI 241
  • 2020 (11) TMI 240
  • Central Excise

  • 2020 (11) TMI 238
  • 2020 (11) TMI 239
  • Indian Laws

  • 2020 (11) TMI 237
 

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