Tax Management India. Com
                            Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Manuals SMS News Articles Highlights
        Home        
 
Tax Updates - TMI Newsletters
Home Newsletters Index Year 2018 Month 2 Day 14
Older Newer

 

TMI Updates - Newsletter dated: February 14, 2018

TMI SMS


Highlights

  1. Goods and Services Tax : Levy IGST on ocean freight whereas the value of import goods includes Ocean Freight. - Vires of N/N. 8/2017-Integrated Tax [Rate] dated 28th June 2017 and Entry 10 of the N/N. 10/2017 - interim relief granted - HC

  2. Income Tax : Slump sale - transfer of Planet M. division in consideration of equity shares and 6% redeemable unsecured debentures - the provisions of section 50B are not applicable to this case as it is a case of slump exchange and not a slump sale - Tri

  3. Income Tax : Registration u/s 12A eligibility - charitable activities along with organizing of spiritual lectures, the assessee by no means ceases to be a religious institution - spreading spirituality was not considered to be a religious activity - Tri

  4. Income Tax : Power of CIT to cancel registration u/s 12A - power to cancel the registration was first conferred on the Commissioner w.e.f. 1.6.2010 - merely because the Commissioner had wrongly given effect to such cancellation w.e.f. A.Y. 2009-10, it did not vitiate the entire order. - HC

  5. Income Tax : Revision petition u/s 264 - amount taxed twice - The question of double taxation was very much appearing before the Assessing Officer during the assessment - AO is directed to modify the order of assessment - HC

  6. Income Tax : The activity performed by the assessee clearly appears to be inseparably linked to the 'charitable purpose' of providing mid-day meals at village schools - the restriction created by the first proviso to Section 2(15) did not operate against the assessee - HC

  7. Income Tax : Claim of expenses from Capital Gains - Words “wholly and exclusively” do not connote “necessarily”. - The words “in connection with” are of wide import and if such expenses have an intimate connection with the transfer, they have to be allowed u/s 48. - AAR

  8. Income Tax : Exemption u/s. 54B - LTCG from sale of agricultural land - One of the conditions for claiming deduction u/s. 54F is that claim should have been made in the return of income. Since no such claim was made by assessee in the return of income u/s. 139(1) or 139(5), therefore, the claim of the assessee cannot be entertained. - Tri

  9. Customs : Penalty u/s 114 (i) of the CA 1962 - shipping bill did not contain the signature of the exporter authorizing the export of the goods /reading books. It is very clear that there has been contravention of law of Customs Act by the appellant - penalty upheld - Tri

  10. Insolvency and Bankruptcy : Insolvency resolution process - The petitioner cannot be forced to buy goods from the respondent-corporate debtor and it has every right to claim the outstanding amount which is overdue. - The respondent cannot raise a voice to say that there was no term fixed for payment for the outstanding amount on the ground that the transactions between the parties continued in the normal course of business since 2012 - Tri

  11. Service Tax : Short payment of service tax - mere non mentioning of legal provision will not vitiate the proceedings when the gist of the provisions is available in the allegation and discussions recorded in the impugned order. - Tri

  12. Service Tax : Business Auxiliary Service - commission paid to foreign based commission agents, who were placing export order with them - the said SCN did not invoke provisions of Section 66A for demand of said service tax - SCN not valid - Tri

  13. Service Tax : The receipt of the Municipal Corporation i.e. appellant that the amount towards so called advertisement was collected as Jahirat Kar (Advertisement Tax) - the advertisement tax being statutory tax levy by the Municipal Corporation should not be liable to service tax. - Tri

  14. Central Excise : Transfer of accumulated CENVAT credit to other unit - if the said credit was available to the appellant prior to their registration, the fact of surrendering of licence should not be adopted and the appellant request to transfer the credit should not be denied on such hyper technical grounds. - Tri


Notifications


Circulars / Instructions / Orders


News - Feeds


Case Laws:

More information of case laws are visible to the Subscriber of a package i.e:-
Party Name, Court Name, Date of Decision, Full Text of Headnote, Decision etc.


  1. 2018 (2) TMI 748

    Penalty u/s 271AAA - Held that - We find in the assessment order, the A.O has categorically mentioned that the assessee company has declared the amounts surrendered as miscellaneous income under the head income from other sources. A perusal of the assessment order shows that the assessee has surrendered the income, explained the manner in which it was earned and has paid the taxes due thereon. Therefore, the assessee has fulfilled all the conditi....... + More


  2. 2018 (2) TMI 742

    Disallowance on account of supervision charges - guinity of expenditure - as contented by assessee no enquiry was made by the A.O. with the concerned contractors to verify the genuineness of claim of the assessee for supervision charges - Held that - No agreement or contract entered into with the concerned parties is produced by the assessee on record to show the nature of services agreed to be rendered by the concerned parties and the terms and ....... + More


  3. 2018 (2) TMI 743

    Addition under the head Bakshis and Tips & Bakshis - allowable busniss expenditure - Held that - In the present case the plea of the assessee is based on the existing customs and practice prevalent for a long time. This was accepted by the tribunal in A.Y.2009-10 2017 (12) TMI 303 - ITAT KOLKATA . Moreover, the vouchers were filed before the CIT(A) which were omitted to be considered by the CIT(A). In these circumstance we are of the view tha....... + More


  4. 2018 (2) TMI 744

    TDS u/s. 194C and 194J on broad band charges - payment made to HCL Infinet and HCL Comnet - Held that - The grounds of appeal as raised in this appeal by the assessee are squarely covered 2017 (8) TMI 714 - ITAT MUMBAI no TDS is required to be made on payments made towards internet and communication charges. - Decided in favour of assessee........ + More


  5. 2018 (2) TMI 745

    Taxability of gains on sale of lands claimed to be agricultural lands by assessee - nature of land - Held that - Here the lands in question are away from Municipal limits and cannot be treated as urban lands under W.T. Act or under IT Act. Be that as it may, what is noticed from the agreement of sale-cum-GPA and sale deed entered by assessee is that assessee never brought the said lands in his name. BR BR The agreement of sale-cum-GPA is from the....... + More


  6. 2018 (2) TMI 739

    Claim of deduction u/s. 54B - whether agricultural activities were carried out by the assessee on his share of land? - Held that - AO has raised doubt that the land was not used for agricultural purpose either by assessee or his parents. The revenue record in the form of 7/12 extracts clearly indicate that Sugarcane was grown in Gut No. 239, Village Gahunje wherein, the assessee is one of the owner. A close reading of 7/12 extracts for financial ....... + More


  7. 2018 (2) TMI 740

    Penalty u/s. 271 - defective notice - Held that - AO has initiated the penalty for concealing the particulars of income or furnishing inaccurate particulars of income as well as in the penalty order dated 29.6.2016 he held that the assessee had without reasonable cause concealed the particulars of his income, and / or furnished inaccurate particulars of income assessed. Therefore, in view of above, the penalty in dispute is not sustainable in the....... + More


  8. 2018 (2) TMI 741

    Revision u/s 263 - error committed by AO in taxing the interest income in the manner as specified under Rule 8 of IT Rules, 1962 which is causing prejudice to the interest of revenue - Held that - CIT u/s 263 of the Act has not pointed out any defect in the submission filed by assessee before him during proceedings. The assessee before Ld. Pr. CIT has made the submission that amount of interest income is directly linked with the agricultural oper....... + More


  9. 2018 (2) TMI 738

    Seeking stay of demand - Held that - We direct the assessee-company to pay 50% of the demand in question on or before 28/02/2018 and furnish bank guarantee for balance demand for a period of 6 months before the Assessing Officer on or before 28/02/2018. The stay order is valid for a period of six months from the date of the order or till disposal of the appeal whichever is earlier. The matter is already listed for hearing for 17/05/2018. However,....... + More


  10. 2018 (2) TMI 737

    Penalty u/s. 271 - defective notice - Held that - AO has initiated the penalty for concealing the particulars of income or furnishing inaccurate particulars of income as well as in the penalty order dated 29.6.2016 he held that the assessee had without reasonable cause concealed the particulars of his income, and / or furnished inaccurate particulars of income assessed. Therefore, in view of above, the penalty in dispute is not sustainable in the....... + More


  11. 2018 (2) TMI 734

    Addition treating the premium paid to hedge against exchange fluctuation risk as service fees - Held that - The appellant has drawn attention to the fact that the similar amounts claimed in the preceding years have been allowed and has also explained in detail that the loan from Bridgestone Corporation Japan was utilized for working capital needs and repayment of existing loans and hence has to be treated as on revenue account and not on capital ....... + More


  12. 2018 (2) TMI 735

    Addition of bogus purchases u/s 69C - genuineness of purchases - Held that - AO was erred in making 100% addition towards alleged bogus purchases u/s 69C of the Act. CIT(A), without appreciating the facts has gone on a different footing and estimated gross profit by adopting assessment year 2013-14 gross profit to sustain the addition made by the AO towards alleged bogus purchases. BR BR Though the AO has made addition on the basis of information....... + More


  13. 2018 (2) TMI 732

    Registration u/s 12A eligibility - Voluntary contributions received by the Appellant covered under exceptions covered under sub-section (2)(b) of section 115BBC - charitable activities along with organizing of spiritual lectures, the assessee by no means ceases to be a religious institution - Held that - In the present case, as per the objects clauses reproduced by the AO this is also an object of the assessee to establish and maintain anathashra....... + More


  14. 2018 (2) TMI 730

    Disallowance u/s 14A - sufficiency of own funds - Held that - If there are funds available both interest-free and over draft and/or loans taken, then a presumption would arise that investments would be out of the interest-free fund generated or available with the company, if the interest-free funds were sufficient to meet the investments. In this case this presumption is established. As relying on CIT vs. Reliance Utilities and Power Ltd. 2009 (1....... + More


  15. 2018 (2) TMI 729

    Taxability of the profit claimed to be earned by the assessee on sale of agricultural land - nature of land sold - Held that - Although the assessee has once again relied on the documentary evidence filed by the assessee to show that the land in question sold by the assessee was an agricultural land as per the relevant land record, he has failed to adduce any evidence to show that the said land was actually utilised by the assessee for carrying o....... + More


  16. 2018 (2) TMI 714

    Allowable busniss expenditure - amount paid in lieu of the shares of the litigating parties - Held that - The declaration cum indemnity of all the recipients/concerned parties is available. We have also perused the orders from Hon ble High Court of Delhi and Bombay, which clearly indicates that the assessee duly paid the impugned amounts in lieu of the shares of the litigating parties and the expenses were incurred to safeguard the business inter....... + More


  17. 2018 (2) TMI 713

    Eligibility for deduction u/s 54E - investment made of ₹ 50 lakhs each of different two Financial Years within a period of six months - Held that - Prior to amendment, the time limit of ₹ 50 lakhs as prescribed u/s 54EC is per year and if the assessee invest ₹ 50 lakh each in two different years, otherwise fulfilling other conditions of section 54EC, thus assessee will be entitle to the benefit of ₹ 1 crore and not merely ....... + More


  18. 2018 (2) TMI 756

    Power of CIT to cancel registration u/s 12A - registration order cancelled with retrospective effect - scope of amendment to section 12A - Commissioner concluded that the activity conducted by the assessee was clearly in the nature of trade and business - according to the Tribunal, the Commissioner could not have cancelled such registration w.e.f. A.Y. 2009-10 as that would refer to a date prior to the date when the power to cancel the registrati....... + More


  19. 2018 (2) TMI 696

    Failure on part to deduct tax at source on interest payments as required u/s 194A - default u/s 201(1) - Held that - CIT(A) has strangely proceeded to uphold orders of the AO stating that the assessee is in the regular practice of not providing information required for TDS verification before the AO and since the matter was getting barred by limitation, the AO s action in passing the orders u/s 201(1)/201(1A) of the Act was upheld. BR BR On an ap....... + More


  20. 2018 (2) TMI 694

    TDS u/s.194C and 194A - non deduction of tds - Addition u/s.40(a)(ia) - recipient of the amount have paid the due taxes - Held that - Hon ble Delhi High Court in the case of Ansal Land Mark Township (P) Ltd. (2015 (9) TMI 79 - DELHI HIGH COURT) has held that the second proviso to Section 40(a)(ia) of the Act is declaratory and curative in nature and has retrospective in operation w.e.f 01.04.2005. Therefore, find that the order of the CIT(A) to t....... + More


  21. 2018 (2) TMI 770

    Levy GST on ocean freight whereas the value of import goods includes Ocean Freight. - Vires of N/N. 8/2017-Integrated Tax Rate dated 28th June 2017 and Entry 10 of the N/N. 10/2017-Integrated Tax Rate also dated 28th June 2017 - petitioner s grievance is that under the impugned Notifications, the petitioner is asked to pay tax at the prescribed rate all over again on the ocean freight - Counsel for the petitioner submitted that the impugned Notif....... + More


  22. 2018 (2) TMI 766

    Lack of access to online profile on the Goods and Service Tax Network - petitioner unable to generate e-way bills - Held that - The special sessions of Parliament or special or extraordinary meetings of Council would mean nothing to the assessees unless they obtain easy access to the website and portals. The regime is not tax friendly. We hope and trust that those in charge of implementation and administration of this law will at least now wake u....... + More


  23. 2018 (2) TMI 759

    Drawback - time limitation - demand on the ground that the petitioner failed to produce evidence of realization of export proceeds in respect of the exported goods within the period allowed under the Foreign Exchange Maintenance Act (FEMA) and Central Excise Duties and Service Tax Drawback Rules, 1995 - Held that - if the petitioner produces evidence to show that the sale proceeds have been realized within the time provided by the R.B.I., which i....... + More


  24. 2018 (2) TMI 703

    Export of Basmati Rice - Circular No. 33(RE-08)/2004-09 dated 30/09/2009 - Held that - Tribunal had directed to get the samples tested through Agmark approved laboratories in view of the fact that M/s SGS India Pvt. Ltd. was not a qualified laboratory as per the Circular issued by the DGFT Revenue should not have once again relied on the test report given by M/s SGS India Pvt. Ltd. for adjudication in the present matter - It was held by this Trib....... + More


  25. 2018 (2) TMI 686

    Penalty u/s 114 (i) of the CA 1962 - main allegation alleged against the appellant is that the appellant failed to ensure that proper authorization was taken from Shri Okora Wisdom before accepting the consignment from their co-loader M/s. DPEX Worldwide Express Pvt. Ltd. for export to Indonesia - Held that - Since it is brought out from the evidence that the shipping bill did not contain the signature of the exporter authorizing the export of th....... + More


  26. 2018 (2) TMI 682

    Speaking order - the Bill of Entry was assessed based on the declaration and check list submitted by the appellant themselves and also considered that there was no request from the appellant for reassessment or for issue of speaking order - Held that - keeping in mind the ratio of the judgment of the Hon ble Supreme Court in Priya Blue Industries 2004 (9) TMI 105 - SUPREME COURT OF INDIA , where it was held that Once an Order of Assessment is pas....... + More


  27. 2018 (2) TMI 754

    Whether the Tribunal can override the statutory provisions enshrined in the law inasmuch as the second proviso to Section 114A of Customs Act, 1962, has been ignored in reducing the penalty wherein specific provisions are enlisted that the benefit of reduced penalty shall be available only when penalty is paid within 30 days of the date of communication of the Order which is not in the present matter? BR BR Held that - the issue squarely covered ....... + More


  28. 2018 (2) TMI 752

    Smuggling - Gold - petitioners case is that while it is true that they were carrying gold, this was in no sense contraband and there was no attempt to smuggle gold - denial of opportunity to declare their goods because they were purportedly arrested at the aerobridge ramp at the exit of the aircraft even before they arrived at the immigration counters and before they could approach the custom desks to declare their goods - Held that - it is alway....... + More


  29. 2018 (2) TMI 753

    Smuggling - illegal export of red sanders in artifact form - Held that - only where a company, which as per the explanation includes also a firm, was found guilty of an offence would those in charge of and responsible to it in the conduct of its affairs, be liable - As in the instant case, the firm M/s. Rare Crafts, of which petitioners are partners has not been arrayed as an accused, no liability could be fastened to petitioners. - revision allo....... + More


  30. 2018 (2) TMI 751

    Suspension of CHA License - Regulation 19(2) of CBLR, 2013 - time limitation - Held that - In fact, there is a gross delay in concluding the enquiry for which there is no explanation. Even as of today, no final order has been passed on the basis of the Enquiry Report. Therefore, there is no reason to interfere with the findings of fact and ultimate order passed by the Tribunal - appeal dismissed........ + More


  31. 2018 (2) TMI 750

    Recovery of differential duty - fulfillment of export obligation - Held that - Admittedly, the petitioner has not replied to the show cause notices issued to them. The redemption certificates, which are required to be submitted by the petitioner, to fulfil the export obligations, has been obtained by the petitioner, only after the first respondent-Original Authority passed the orders-in-original - in order to provide an opportunity to the petitio....... + More


  32. 2018 (2) TMI 749

    EPCG Scheme - Whether the goods declared for export under EPCG Scheme as Marble Block, which were subsequently found as Silicified Limestone on the basis of GSI test report are to be treated as Marble Block ? - Held that - The man has taken license or mining lease from State of Rajasthan as a marble exporter but merely chemical test has given it limestone as discussed by the Tribunal by referring to meaning of Wikipedia the marble is also one kin....... + More


  33. 2018 (2) TMI 762

    Right to cross-examine - Cross examine the witnesses whose statements were recorded under Section 37 of FEMA and whose statements have been relied upon in the complaint - complaint alleges that the provisions of section 3(b) of the FEMA have been contravened by the petitioner by making a payment to Cricket South Africa (CSA) a person residing outside India, without permission of the Reserve Bank of India (RBI) and that is inter alia apparent from....... + More


  34. 2018 (2) TMI 731

    Insolvency resolution process - existence of default in payment of debt - delivery of demand notice to the corporate-debtor - Held that - There is no averment in the objections that the address of the corporate-debtor as furnished by the operational creditor was inicorrect. Rather, there is no challenge with regard to the delivery of the entire paper book, which was sent at the time of filing the instant petition and also receipt of notice of the....... + More


  35. 2018 (2) TMI 692

    Corporate Insolvency Resolution Process - proof of inability to pay debt - Held that - This Bench is satisfied that the Corporate Debtor is in default of liquidating its debt. The financial creditor is therefore entitled to the prayer made. They have proposed the name of Mr. Pinaki Sircar, 31/7, N C Chawdhary Road, Kolkata-700042; Email Pinaki Sircar@hotmail.com, Contact No. 9830011159; IP Registration No. IBBI/IPA-002/IP-N00063/2016-2017/10141 a....... + More


  36. 2018 (2) TMI 684

    Corporate Insolvency Resolution Process - existence of default - Held that - The total amount of debt granted and disbursed has been elaborately explained and for further details reference has been made to Annexure A-2 which shows that CC facility was given by disbursing ₹ 7 crores on 04.04.2017. Another facility described as LC4 A/cs account ₹ 50 crores was given and the amount was disbursed on 02.03.2015. Likewise, the amount of def....... + More


  37. 2018 (2) TMI 747

    Short payment of service tax - main point of the demand notice is that the appellant-assessee did not discharge the Service Tax on the full consideration shown as income in their accounts for rendering various taxable services - Held that - Concept of reverse charge has been examined and upheld for the service imported by the appellant-assessee. We are in agreement with the learned AR that mere non mentioning of legal provision will not vitiate t....... + More


  38. 2018 (2) TMI 746

    Services to cellular phone exporters on behalf of BPL Mobile Cellular Ltd. and were also engaged in collection of bill amounts from the customers and the like for which they receive commission and incentives - Department took the view that the said amounts would constitute taxable income exigible to service tax levied under BAS for the period 01.07.2003 to 09.07.2004 on taxable income of ₹ 20,96,145/- - Held that - the value of commission a....... + More


  39. 2018 (2) TMI 733

    Levy of service tax - Renting of Immoveable Property - Mandeep Keeper - Advertisement - Supply of Tangible Goods - demand on the deposit - Held that - As regard demand on the deposit, the adjudicating authority has not verified relevant fact - matter remanded to verify the facts. BR BR Land rent and bazaar land rent - Held that - no evidence is on record to show that on what account the land rent and bazaar land rent is collected - therefore the ....... + More


  40. 2018 (2) TMI 728

    Monetary limit for filing appeal - Instructions dated 17-12-2015 issued by the C.B.E. & C - Held that - the C.B.E. & C. in exercise of the powers conferred by Section 35R of the Central Excise Act, 1944 fixing monetary limits below which appeal shall not be filed in the Tribunal. The monetary limit has been enhanced to ₹ 10 lakhs through the said Instructions. Further, the Board vide letter dated 01.01.2016 clarified that the said i....... + More


  41. 2018 (2) TMI 726

    GTA Service - abatement at 75% in terms of N/N. 32/2004-ST - reverse charge mechanism - Held that - The Tribunal in number of cases has held that where the GTA was not registered with the Department, there was no question of availment of credit - decision in the case of Lykes Line Ltd. Versus Commissioner of Service Tax, Mumbai-I 2016 (11) TMI 192 - CESTAT MUMBAI referred. BR BR The appellant had produced a general certificate of the GTA indicati....... + More


  42. 2018 (2) TMI 725

    Refund claim - services utilized for export purposes - N/N. 17/2009-ST dated 07.07.2009 - denial on account of nexus - Held that - Revenue has not been able to place any evidence on record to show that the disputed services were not utilized for export purposes - the appellants have been able to adequately substantiate that services were utilized for export purposes - refund allowed - appeal dismissed - decided against Revenue........ + More


  43. 2018 (2) TMI 722

    SEZ unit - refund claim - N/N. 9/2009-S.T. dated 3rd March, 2009 - rejection on the ground of time bar - Held that - reliance placed in the case of M/s. Cumins Technologies India Pvt. Ltd. Versus C.C.E. & S.T., Bhopal 2016 (12) TMI 794 - CESTAT NEW DELHI , where it was held that rejection of refund claim on the ground of limitation will not hold good and the application should merit consideration for grant of refund - the matter is required t....... + More


  44. 2018 (2) TMI 720

    SSI exemption - rent a cab service - abatement of 60% - whether for the benefit of exemption for small scale service provider in terms of N/N. 6/2005-ST, the aggregate value should be computed after allowing 60% of abatement or the total value so received by the service provider? - Held that - 60% of the consideration received is exempted from the whole of the service tax leviable theron. Therefore, for the purpose of calculation of aggregate val....... + More


  45. 2018 (2) TMI 719

    Liability of service tax - reverse charge mechanism - services of a transporter for movement of their inputs - Held that - there is no dispute about the fact that the service tax deposited by the transporters with the department. As such the objection of the Revenue cannot be appreciated, as it would amount to double deposit of the same amount of service tax on the services - appeals are allowed by restoring the orders of the original adjudicatin....... + More


  46. 2018 (2) TMI 717

    Refund claim - Rule 6(3) of Cenvat Credit Rules, 2004 - inclusion of cost of medical examination/test reports received by the appellant from LIC - Held that - sub Rule (3) of Rule 6 of Cenvat Credit Rules, 2004 was not applicable in the present case - I deleted that part from the impugned Order-in-Appeal which relates to inclusion of cost of medical examination and test reports received by the appellant from LIC ordered to be included in the taxa....... + More


  47. 2018 (2) TMI 689

    Refund of unutilized CENVAT credit - N/N. 27/2012-CE(NT) dated 18/06/2012 - whether refund can be granted to the respondent, when they have debited the amount not on the dated of filing of refund claim but on a later date? - Held that - the condition prescribed in the said notification having met, although on a later date the failure to debit on the date of filing the refund is not such a lapse that it would debar the respondent from the refund -....... + More


  48. 2018 (2) TMI 687

    Classification of services - agreement with M/s. MALCO to carry out mining services - Business Auxiliary Services or mining services - Held that - This Tribunal in the respondent s own case, M/s. Thirumala Enterprises Versus Commissioner of Central Excise, Salem 2018 (2) TMI 288 - CESTAT CHENNAI has set aside the demand for the earlier period holding that activity of loading and transportation of limestone and rejects from mine head to crushing p....... + More


  49. 2018 (2) TMI 697

    Refund claim - duty paid under protest - time limitation - Held that - the provisions of Section11B provide a period of one year, for claiming refund, from the relevant date. The relevant date also stands prescribed in the said Section. However, if the duties have been paid under protest, the period of one year is not applicable - matter remanded for reconsideration - appeal allowed by way of remand........ + More


  50. 2018 (2) TMI 698

    Valuation - includibility - Revenue entertained a view that the differential freight amount is required to be added to the assessable value of the goods and duty is to be paid - Held that - The Hon ble Supreme Court in the case of Baroda Electric Meters Ltd. vs. Collector of Central Excise 1997 (7) TMI 126 - SUPREME COURT OF INDIA has held that in case the freight expenses incurred by an assessee are less than the freight expenses recovered by hi....... + More


  51. 2018 (2) TMI 699

    CENVAT credit - scope of SCN - Held that - in the impugned order there is no reference to any notice issued to the service provider or any case made out against them. The said fact is required to be verified by the authorities below inasmuch as the availment of credit by the present appellant is dependent upon the same - appeal allowed by way of remand........ + More


  52. 2018 (2) TMI 700

    Remission of duty - Due to summer season, there is auto combustion in the open pit, in which molasses was stored and the same turned into black carbonized lumps as residue - Held that - the said Section talks about the recovery of the dues for which a Civil case is required to be filed by the Revenue. The issue in the present case is first to decide the liability of the person who has to pay the duty. BR BR The matter to the Commissioner (Appeals....... + More


  53. 2018 (2) TMI 695

    Classification of goods - sugar syrup - captive consumption - whether the sugar syrups prepared in the assessee s factory, who is primarily engaged in the manufacture of biscuits, are classifiable under Tariff Item 17029090? - Held that - this Bench of the Tribunal in the appellants own case, Swati Biscuit Manufacturing Company And Others Versus Commissioner of Customs, Central Excise And Service Tax, Allahabad And Vice-Versa 2018 (2) TMI 522 - C....... + More


  54. 2018 (2) TMI 693

    100% EOU - whether the respondents are liable to pay education cess for the third time while calculating the duty demand? - Held that - once education cess is added to the customs duties to arrive the aggregate of customs duties, the question of charging education cess again does not arise - reliance placed in respondent own case EID Parry (India) Ltd. Versus CCE & ST, LTU Chennai And Vice-Versa 2017 (9) TMI 876 - CESTAT CHENNAI - appeal dism....... + More


  55. 2018 (2) TMI 688

    CENVAT credit of Education Cess & Secondary and Higher Education Cess paid on CVD - It appeared to Revenue that in terms of N/N. 13/2012 & 14/2012-Cus both dated 17/03/2012, the said both cesses on CVD were exempted - Held that - there are plethora of decisions which have held that the recipient of inputs cannot do the re-assessment of the goods at the end of input manufacturer. BR BR Even if the amount of duty is paid excess on the input....... + More


  56. 2018 (2) TMI 690

    CENVAT credit - fake invoices - It was alleged that the appellant did not receive the goods but have taken Cenvat credit on the strength of invoices without receipt of goods - Held that - the Central Excise Officers did not carry out any investigation at the end of M/s Shanker Traders - it is not conclusively established that the appellant did not receive the inputs - the SCN dated 20/04/2012 is not sustainable - appeal allowed - decided in favor....... + More


  57. 2018 (2) TMI 691

    CENVAT credit - fake invoices - It was alleged that the appellant did not receive the goods but have taken Cenvat credit on the strength of invoices without receipt of goods - Held that - the Central Excise Officers did not carry out any investigation at the end of M/s Shanker Traders - it is not conclusively established that the appellant did not receive the inputs - the SCN dated 20/04/2012 is not sustainable - appeal allowed - decided in favor....... + More


  58. 2018 (2) TMI 683

    Remission of duty - Rule 21 of the Central Excise Rules, 2002 - storage loss - molasses - C.B.E.C. Circular No. 261/15/82/CX-8 dated 18/07/1983 & Circular dated 06/02/1982 - Held that - The said C.B.E.C. Circular No. 261/15/82/CE-13 dated 18/07/1983, has clarified that storage loss of Molasses up to 2% is condonable, when Molasses are stored in Pucca Pits or Steel Tanks. BR BR In the present case, the loss stated in the said application dated....... + More


  59. 2018 (2) TMI 679

    Valuation - discount of 1.9% given, to get the early payment - includibility - Held that - Clearly since the Appellant had consented to receive payment early from Tata Motors by agreeing to get the Hundi discounted and in terms of such understanding provided discount, it cannot be said that M/s Tata Motors has incurred any expenditure on behalf of Appellant - demand do not sustain - appeal allowed - decided in favor of appellant........ + More


  60. 2018 (2) TMI 678

    CENVAT credit - input service distributor - distribution of credit without excluding that proportion of tax paid on input services attributable to trading in goods which, being an exempt activity, was not within the scope of entitlement - Held that - There is no dispute that the headquarters of the appellant carries on trading and that the services procured there cannot but have been used in relation to trading also. The appellant has failed to m....... + More


  61. 2018 (2) TMI 767

    Penalty u/s 15-A (I)(o) of the Act - case of petitioner is that Form-31 is to be filled by seller and merely for the reason that details are not correctly filled, it would not mean that there was intention to evade payment of tax - whether penalty justified? - Held that - Tribunal, however, has observed that there is no check post between Faridabad and Noida, therefore, possibility of misuse of Form-31 cannot be ruled out. The specific finding by....... + More


  62. 2018 (2) TMI 757

    Demand of interest - Whether the Hon ble Tribunal has erred in law and in facts in deleting levy of interest u/s 30(5) of the Gujarat Value Added Tax Act in respect of tax paid on turnover related to marketing scheme? - Held that - the Tribunal found that there was full compliance with the provisions of sub-section (2) of section 30 of the Act and, therefore, sub-section (5) thereof was not attracted. In view of the fact that the respondent deale....... + More


  63. 2018 (2) TMI 755

    Principles of natural justice - main contention of appellant is that neither in the assessment order nor while passing orders on the applications filed seeking rectification, the Assessing Authority has applied its mind to the various materials placed before it and the request made seeking exemption against the labour charges, sales effected outside the State, TDS input tax, etc. - Held that - the authorities do not refer to the documents said to....... + More


  64. 2018 (2) TMI 736

    Determination of net-wealth for the purpose of Wealth Tax Act - Held that - Sub-section 2 of section 50C provides a remedy to the assessee in case he has aggrieved with adoption of such sale consideration on the basis of deeming provision. He can file a reference to the AO and the AO shall send the reference to the DVO for determining fair market value of the property on the date of transfer. Thus, it cannot be taken as gospel truth. BR BR The as....... + More


 
 
Discussion Forum
what is new what is new
 


|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.