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Home Newsletters Index Year 2018 February Day 16 - Friday
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TMI Updates - Newsletter dated: February 16, 2018

Case Laws in this Newsletter:

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



  1. Income Tax : Determination of residential status - the assessee has to prove through cogent evidences such as passport to prove her stay outside India for stipulated period as per conditions stipulated u/s 6 of the 1961 Act. - Tri

  2. Income Tax : Once the Assessing Officer has taken the step of initiating penalty under section 271AAA of the Act in respect of additional income offered consequent to search, then the Assessing Officer or any of the authorities below are precluded by provisions of the Act itself to initiate any action for levy of penalty under section 271(1)(c) of the Act. - Tri

  3. Income Tax : Validity of reopening of assessment - addition u/s 69C - bogus purchases - M/s. JPK Trading Pvt. Ltd had never sold any goods and were only issuing bogus sales invoices and charged commission. Thus AO was justified in reopening the case of the appellant for the year under consideration u/s 147 of the Act - Tri

  4. Income Tax : Income accrued in India - Referral fees - considering that the referral activity was undertaken outside India and assessee’s Mumbai branch (PE) had no role to play in the performance of the referral activity, the referral fee of ₹ 18,27,90,578/- earned by CSDB could not be construed to be attributable to assessee’s PE in India - No Tax liability in India - Tri

  5. Income Tax : TDS u/s 195 - payment made to non-residents towards the services rendered by them - non deduction of tds - the non-resident commission agents had rendered services outside India and they were not having P E in India - No TDS liability - Tri

  6. Income Tax : Penalty u/s 271(1)(c) - merely for the reason that the said expenditure was claimed as a revenue expenditure would not justify imposition of penalty under Sec. 271(1)(c), for the reason that the same was held by the A.O to be in the nature as that of a capital expenditure - Tri

  7. Customs : Classification of the imported goods - Insoluble Sulphur - presence of 20% oil as found during testing of the sample of the imported goods - classification of the goods ordered under CTH 2503 0010 - Tri

  8. Indian Laws : Appeal against Chartered Accountants Final Examination result - Merely because the alleged notification contains the term "published for general information" cannot lead to the conclusion that the said notification was actually published especially in view of the categoric statement by the respondent-institute that the said alleged notification was never published in any manner - HC

  9. Insolvency and Bankruptcy : Corporate insolvency procedure - guarantee has not been invoked - guarantor cannot be deemed to be a defaulter, therefore, his case is not covered under clauses (c) and (h) of section 29A of the amended I.B. Code. Disqualifying the entire class of guarantors under clause (h) of section 29A would be discriminatory. - Tri

  10. Service Tax : Refund claim - time limit - In respect of export of services, the relevant date for purposes of deciding the time limit for consideration of refund claims under Rule 5 of the CCR may be taken as the end of the quarter in which the FIRC is received, in cases where the refund claims are filed on a quarterly basis. - Tri

  11. Service Tax : Valuation - includibility - the inclusion of costs and expenditures in the gross taxable value by making provision in the Rules is repugnant to Section 66 and 77 of the Finance Act and to that extent is ultra vires. - Tri

  12. Service Tax : Banking and Financial Service - admittedly there is no transfer of the ownership of the goods at the end of lease, the same does not fall in the category of financial lease and falls in the category of operating lease - demand not sustainable - Tri

  13. Service Tax : Refund of unutilized CENVAT credit - at the time of availment of cenvat credit it was not disputed by the Revenue that these services are not ‘input services’. In the circumstances, at the time of claiming the refund claim, cenvat credit cannot be denied - Tri

  14. Central Excise : SSI exemption - calculation of aggregate value - various food preparations made and sold by the appellants in their kitchen/restaurants are generally covered by the Chapters 16 to 20 will not meet the legal requirement of applying the provisions of Notification 8/2003. - Tri

  15. Central Excise : CENVAT credit - Education cess and Higher education cess paid on CVD - If the 3rd education cess is considered as a levy on total excise duty, the obvious conclusion would be that the credit also admissible - the credit availed on the education cess paid for the third time by the appellants on the CVD portion is eligible. - Tri

  16. Central Excise : Classification of goods - PVC/ HDPE Pipes, HDPE Sprinkler - these pipes which were manufactured and cleared by them are intended for irrigational purpose in agriculture/ horticulture - the classification of the product under Chapter 39 is not sustainable - Tri

  17. Central Excise : CENVAT credit - marine insurance service - insurance for directors and supervisory officers arising in day-to-day functioning - credit allowed - Tri

  18. Central Excise : CENVAT credit - demerger - the transferor will be allowed to transfer the Cenvat credit lying unutilized to the transferee company - Tri

  19. Central Excise : CENVAT credit - utilization of ‘security service’ for the hostel maintained at their factory at a remote location - In order to run the factories smoothly, without any stoppages, they had constructed township/residential colonies near factory premises and accommodated the employees working in such factories - CENVAT credit is maintainable - Tri



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