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Home e-Newsletters Index Year 2018 February Day 15 - Thursday

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TMI Tax Updates - e-Newsletter
February 15, 2018

Case Laws in this Newsletter:

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



Highlights / Catch Notes

  • Income Tax:

    Reopening of the assessment - sanction u/s 151 - When the Revenue Department is manned by highly qualified officers they are to evolve legally sustainable standard operating procedure for discharging quasijudicial function. - AT

  • Income Tax:

    AO was not competent and did not possess the jurisdiction to resolve / decide the issue as to whether the assessee was a 'Primary Agricultural Credit Society' or a 'Co-operative bank', within the meaning assigned to it under the provisions of the Banking Regulation Act and to take a contrary view especially in view of the Explanation provided after the clause (ccvi) of section 5 r.w.s Section 56 of the Banking Regulation Act. - AT

  • Income Tax:

    Benefit of exemption u/s. 11 - The receipts from BCCI are not in the nature of trade, business or commerce and consequently the proviso to section 2(15) of the Act was not applicable - assessee is entitled for exemption u/s 11 and 12 - AT

  • Income Tax:

    Transfer pricing - the transaction in the instant case of sale of shares in ‘AB’ International will have to be benchmarked as per the transfer pricing provisions contained in Chapter X of the Act. Thus transfer pricing provisions contained in sections 92 to 92F of the Act would apply to the proposed transaction. - AAR

  • Customs:

    Drawback u/s 75 of the CA 1962 - exporter is entitled to claim that the whole of the copper content in its manufactured product should be treated as “deemed to be imported material”, for the purpose of sub-section (1) of Section 75 - Availing of the Cenvat credit also does not disentitle the respondent from claiming the above benefit - HC

  • Customs:

    Classification of import goods - The AEPC has declared the imported bales as fabrics and not as “quilt covers” as there was no individual weight and/or length - imported items cannot be covered as “quilt covers” as there was no reference to composition, nature, structure to be identified as „quilt cover‟. - AT

  • Service Tax:

    Renting to Immovable Property Service - parking facility - the owners of the shop/ and their employees are availing the parking facility for which monthly consideration is collected by the appellant along with the rent payable for the said shops and premises - the consideration attributable to such income is liable to be taxed. - AT

  • Service Tax:

    The existence of clause in the contract to the effect that it will include Service Tax by itself will not give any inference that such Service Tax has been collected from the client. The checklist for RA bills makes it clear that the recipient is also not recognizing any payment in any manner which can be attributed Service Tax - the demand in terms of Section 73A (2) will not survive. - AT

  • Service Tax:

    Validity of SCN - appellant has provided this service to the third parties on behalf of the main consultant - the services provided by the appellant should merit classification under “Business Auxiliary Service” - cannot taxed under “Management Consultancy Service” - Demand cannot sustain on the ground of wrong classification of the service - AT

  • Service Tax:

    Levy of service tax - Authorized Learning Centre (LCs) - The University is recognized by the Statute as well as by the UGC, DEC & AICTE. When, it is so, then the LCs have no control over the fee which is directly collected by the University who later shared with LCs. - Demand of service tax set aside - AT

  • Service Tax:

    Commercial or Industrial Construction Service - the building is a Government building which is used for creating a facility of training, testing etc. for industrial units, in consonance with the Board circular, the building cannot be said to be a commercial building. - AT

  • Central Excise:

    SSI Exemption - use of Brand name - The markings are by compulsion of law only in order that Governmental authorities involved in the PDS may identify and segregate the aforesaid jute bags. This being the case, it is obvious that there is no “brand name” involved in the facts of the present cases. - SC

  • Central Excise:

    CENVAT credit - supplementary invoices - The appellant is paying service tax on reverse charge basis in terms of Rule 2(1)(d) of Service Tax Rules, 1994 and therefore credit can be availed in terms of Rule 9(i)(e) of CCR - AT

  • Central Excise:

    Area Based Exemption - Benefit of N/N. 50/03-CE - The appellant has started three different units on the same plot of land and having separate plant and machinery, separate, inputs, manpower, finances and are manufacturing different products, therefore, all the three units cannot be considered as one unit. - AT

  • Central Excise:

    CENVAT credit - storage and warehousing services abroad, rendered to the appellant for storing the finished goods abroad - whether the appellant herein is eligible to avail CENVAT credit of service tax paid on warehousing services performed outside the country (post export services)? - Held Yes - AT

  • Central Excise:

    Classification of goods - carpets/floor coverings - car mats, made up of felt - predominance test - whether classified under Chapter Sub-heading No.5703.20 of the CETA or under under Chapter Sub-heading No.5703.90? - the mere fact that the surface of the carpet is polypropylene fibre, it does not cease to be jute carpets. - AT


Articles


Notifications


News


Case Laws:

  • Income Tax

  • 2018 (2) TMI 875
  • 2018 (2) TMI 883
  • 2018 (2) TMI 882
  • 2018 (2) TMI 874
  • 2018 (2) TMI 873
  • 2018 (2) TMI 872
  • 2018 (2) TMI 871
  • 2018 (2) TMI 870
  • 2018 (2) TMI 869
  • 2018 (2) TMI 868
  • 2018 (2) TMI 881
  • 2018 (2) TMI 880
  • 2018 (2) TMI 867
  • 2018 (2) TMI 866
  • 2018 (2) TMI 865
  • 2018 (2) TMI 864
  • 2018 (2) TMI 863
  • 2018 (2) TMI 879
  • 2018 (2) TMI 862
  • 2018 (2) TMI 878
  • 2018 (2) TMI 861
  • 2018 (2) TMI 877
  • 2018 (2) TMI 876
  • 2018 (2) TMI 860
  • 2018 (2) TMI 859
  • 2018 (2) TMI 858
  • 2018 (2) TMI 857
  • 2018 (2) TMI 856
  • 2018 (2) TMI 855
  • Customs

  • 2018 (2) TMI 854
  • 2018 (2) TMI 851
  • 2018 (2) TMI 853
  • 2018 (2) TMI 850
  • 2018 (2) TMI 849
  • 2018 (2) TMI 848
  • 2018 (2) TMI 852
  • Corporate Laws

  • 2018 (2) TMI 847
  • Insolvency & Bankruptcy

  • 2018 (2) TMI 885
  • 2018 (2) TMI 884
  • Service Tax

  • 2018 (2) TMI 844
  • 2018 (2) TMI 843
  • 2018 (2) TMI 842
  • 2018 (2) TMI 841
  • 2018 (2) TMI 811
  • 2018 (2) TMI 845
  • 2018 (2) TMI 840
  • 2018 (2) TMI 839
  • 2018 (2) TMI 838
  • 2018 (2) TMI 837
  • 2018 (2) TMI 836
  • 2018 (2) TMI 835
  • 2018 (2) TMI 788
  • 2018 (2) TMI 834
  • 2018 (2) TMI 833
  • 2018 (2) TMI 832
  • 2018 (2) TMI 831
  • 2018 (2) TMI 830
  • 2018 (2) TMI 829
  • 2018 (2) TMI 828
  • 2018 (2) TMI 827
  • 2018 (2) TMI 826
  • Central Excise

  • 2018 (2) TMI 825
  • 2018 (2) TMI 824
  • 2018 (2) TMI 813
  • 2018 (2) TMI 812
  • 2018 (2) TMI 822
  • 2018 (2) TMI 810
  • 2018 (2) TMI 821
  • 2018 (2) TMI 820
  • 2018 (2) TMI 809
  • 2018 (2) TMI 808
  • 2018 (2) TMI 807
  • 2018 (2) TMI 806
  • 2018 (2) TMI 805
  • 2018 (2) TMI 804
  • 2018 (2) TMI 803
  • 2018 (2) TMI 802
  • 2018 (2) TMI 801
  • 2018 (2) TMI 800
  • 2018 (2) TMI 799
  • 2018 (2) TMI 798
  • 2018 (2) TMI 797
  • 2018 (2) TMI 796
  • 2018 (2) TMI 795
  • 2018 (2) TMI 794
  • 2018 (2) TMI 793
  • 2018 (2) TMI 792
  • 2018 (2) TMI 791
  • 2018 (2) TMI 790
  • 2018 (2) TMI 789
  • 2018 (2) TMI 787
  • 2018 (2) TMI 786
  • 2018 (2) TMI 785
  • 2018 (2) TMI 819
  • 2018 (2) TMI 784
  • 2018 (2) TMI 783
  • 2018 (2) TMI 782
  • 2018 (2) TMI 781
  • 2018 (2) TMI 780
  • 2018 (2) TMI 779
  • 2018 (2) TMI 778
  • 2018 (2) TMI 777
  • 2018 (2) TMI 776
  • 2018 (2) TMI 775
  • 2018 (2) TMI 818
  • 2018 (2) TMI 817
  • 2018 (2) TMI 816
  • 2018 (2) TMI 815
  • 2018 (2) TMI 814
  • 2018 (2) TMI 774
  • CST, VAT & Sales Tax

  • 2018 (2) TMI 773
  • 2018 (2) TMI 772
  • Indian Laws

  • 2018 (2) TMI 846
  • 2018 (2) TMI 823
 

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