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Tax Updates - TMI Newsletters
Home Newsletters Index Year 2018 February Day 21 - Wednesday
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TMI Updates - Newsletter dated: February 21, 2018

TMI SMS


Highlights

  1. Income Tax : Reopening of assessment - The opinion would be formed on the basis of disclosures. When disclosures are found to be prima facie untrue, the opinion formed earlier would not prevent Assessing Officer from examining the issue. - HC

  2. Income Tax : TDS liability @20% - payment to non-residents not having PAN - the provision in Section 206AA (as it existed) has to be read down to mean that where the deductee i.e the overseas resident business concern conducts its operation from a territory, whose Government has entered into a Double Taxation Avoidance Agreement with India, the rate of taxation would be as dictated by the provisions of the treaty. - HC

  3. Income Tax : Income from house property - Whether a person though a Licensee but has exclusive rights over a property is not owner for the purposes of Section 22? - the said income has to be assessed under the residuary head “income from other sources”. - HC

  4. Income Tax : Disallowance of depreciation on building improvement - the assessee is not entitled to the claim of depreciation on such improvements to the land and building for more than one reason - Tri

  5. Income Tax : MAT - Unabsorbed depreciation is lower than the amount of brought forward losses therefore in our considered view the assessee is entitled to claim the deduction of unabsorbed depreciation while determining the profit u/s 115JB of the Act. - Tri

  6. Customs : Whether the circular places an absolute bar of prohibition against the respondents’ recovering an amount in excess of the amount deposited as per the said circular? - It does not - The word “shall” in clause 4.2 must be read as “may” for more than one reason - HC

  7. Customs : Classification of imported goods - Under Pads - Since, the goods in question were not made for fastening into the body, the same should not be termed as baby and clinical diapers and should more appropriately fall under Chapter Sub-Heading of 48184090 which provides for other sanitary articles - Tri

  8. Service Tax : Violation of Articles 14, 19(1)(g), 265 and 300A of the Constitution of India - utilization of credit accumulated on account of Education Cess and Secondary and Higher Education Cess for payment of service tax leviable and payable on telecommunication services - HC dismissed the appeal of the assessee.

  9. Service Tax : The exemption available to GTA service for transport of “agricultural produce” cannot cover the transport of cut wood of trees - Tri

  10. Service Tax : Business Auxiliary Service - target incentives not liable to service tax - Tri

  11. Service Tax : Valuation - reimbursable electricity charges - Electricity charges collected from the tenants cannot be formed part of the assessable value for the purpose of service tax as provider of renting of immovable properties. - Tri

  12. Service Tax : Construction services - such work has been carried out as part of the hydroelectric project and construction of dam therefore - these activities are in connection with the construction of the dam and hence excluded from the purview of Commercial or Industrial Construction - Tri

  13. Service Tax : Transportation service through pipeline / conduit - delivery of naphtha from appellant s terminal to NFCL storage tanks - Just because there is no excise duty liability in respect of the impugned clearances, the attempt of the department to collect service tax in respect of throughput charges, in our opinion, will not pass muster. - Tri

  14. Service Tax : Application for Settlement Commission - the issue of analysing the facts, interpretation of legal provisions and consequently determining the tax liability or otherwise of services merely on the basis of claims made by the applicant vis-a-vis the counter claims made by the department cannot be decided in this forum as in an Adjudication proceeding.

  15. Service Tax : Application for settlement - Admittedly the petitioner had not paid the full service tax on admitted liability. Settlement Commission was therefore, correct in not entertaining the application for settlement on this ground. - HC

  16. Service Tax : Renting of immovable property Service - excluded category - Admittedly, both these properties in the form of land were used for admitting public for general amusement - in the absence of any statutory definition. Boat/balloon ride on the lake, skating in the skating rink will fall under the overall ambit of entertainment - tax liability do not sustain - Tri

  17. Central Excise : CENVAT credit - Project import - once the goods are imported under CTH 98.01, irrespective of where the goods would be classifiable under CETH, they will become eligible for availment of the CVD portion as capital goods credit - credit rightly allowed. - Tri

  18. Central Excise : CENVAT credit - input services beyond port of export - whether the Appellant are eligible to cenvat credit of the service tax paid on ocean freight and airfreight charges? - Held No - Tri

  19. Central Excise : Valuation - Interpretation of Statute - definition of related person under section 4 of Central Excise Act, 1944, read with definition of "interconnected undertakings" in Section 2(g) of MRTP Act, 1969 - Valuation - related party transaction - mutual interest - close relatives - issues decided in favor of assessee - Tri

  20. Central Excise : Refund claim - customer did not honour the enhanced price of the goods - the duty discharged on the supplementary invoices by the appellants will be eligible for refund, subject to other provisions and conditionalities of section 11B of the Act - Tri

  21. Central Excise : Classification of goods - fibreglass casting tapes/splints - The said goods actually are in the category of wadding, gauze, bandages and similar articles (for example, dressings, adhesive plasters, poultices), which are meant for use in medical/surgical purpose - classifiable under 3004.90 of CETA - Tri

  22. VAT and Sales Tax : TNGST 1959 - Section 3(5) of the Act is a beneficial provision. It provides for concession in tax to encourage industrial activity. It is well settled principle that a taxing provision, granting concessional and incentives for promoting growth and development, should be construed liberally - HC


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 1296

    In: GST


  2. 2018 (2) TMI 1271

    In: Customs


  3. 2018 (2) TMI 1270

    In: Customs


  4. 2018 (2) TMI 1269

    In: Customs


  5. 2018 (2) TMI 1268

    In: Customs


  6. 2018 (2) TMI 1237

    In: Customs


  7. 2018 (2) TMI 1283

    In: Income Tax


  8. 2018 (2) TMI 1295

    In: Income Tax


  9. 2018 (2) TMI 1294

    In: Income Tax


  10. 2018 (2) TMI 1282

    In: Income Tax


  11. 2018 (2) TMI 1281

    In: Income Tax


  12. 2018 (2) TMI 1293

    In: Income Tax


  13. 2018 (2) TMI 1292

    In: Income Tax


  14. 2018 (2) TMI 1280

    In: Income Tax


  15. 2018 (2) TMI 1279

    In: Income Tax


  16. 2018 (2) TMI 1278

    In: Income Tax


  17. 2018 (2) TMI 1277

    In: Income Tax


  18. 2018 (2) TMI 1291

    In: Income Tax


  19. 2018 (2) TMI 1290

    In: Income Tax


  20. 2018 (2) TMI 1276

    In: Income Tax


  21. 2018 (2) TMI 1289

    In: Income Tax


  22. 2018 (2) TMI 1288

    In: Income Tax


  23. 2018 (2) TMI 1287

    In: Income Tax


  24. 2018 (2) TMI 1286

    In: Income Tax


  25. 2018 (2) TMI 1285

    In: Income Tax


  26. 2018 (2) TMI 1275

    In: Income Tax


  27. 2018 (2) TMI 1274

    In: Income Tax


  28. 2018 (2) TMI 1284

    In: Income Tax


  29. 2018 (2) TMI 1273

    In: Income Tax


  30. 2018 (2) TMI 1272

    In: Income Tax


  31. 2018 (2) TMI 1267

    In: Corporate Laws


  32. 2018 (2) TMI 1266

    In: Indian Laws


  33. 2018 (2) TMI 1265

    In: Indian Laws


  34. 2018 (2) TMI 1263

    In: Service Tax


  35. 2018 (2) TMI 1248

    In: Service Tax


  36. 2018 (2) TMI 1264

    In: Service Tax


  37. 2018 (2) TMI 1247

    In: Service Tax


  38. 2018 (2) TMI 1262

    In: Service Tax


  39. 2018 (2) TMI 1261

    In: Service Tax


  40. 2018 (2) TMI 1260

    In: Service Tax


  41. 2018 (2) TMI 1259

    In: Service Tax


  42. 2018 (2) TMI 1258

    In: Service Tax


  43. 2018 (2) TMI 1257

    In: Service Tax


  44. 2018 (2) TMI 1256

    In: Service Tax


  45. 2018 (2) TMI 1255

    In: Service Tax


  46. 2018 (2) TMI 1254

    In: Service Tax


  47. 2018 (2) TMI 1253

    In: Service Tax


  48. 2018 (2) TMI 1233

    In: Service Tax


  49. 2018 (2) TMI 1252

    In: Service Tax


  50. 2018 (2) TMI 1251

    In: Service Tax


  51. 2018 (2) TMI 1250

    In: Service Tax


  52. 2018 (2) TMI 1249

    In: Service Tax


  53. 2018 (2) TMI 1246

    In: Central Excise


  54. 2018 (2) TMI 1245

    In: Central Excise


  55. 2018 (2) TMI 1244

    In: Central Excise


  56. 2018 (2) TMI 1243

    In: Central Excise


  57. 2018 (2) TMI 1242

    In: Central Excise


  58. 2018 (2) TMI 1241

    In: Central Excise


  59. 2018 (2) TMI 1240

    In: Central Excise


  60. 2018 (2) TMI 1239

    In: Central Excise


  61. 2018 (2) TMI 1238

    In: Central Excise


  62. 2018 (2) TMI 1236

    In: Central Excise


  63. 2018 (2) TMI 1235

    In: Central Excise


  64. 2018 (2) TMI 1234

    In: Central Excise


  65. 2018 (2) TMI 1232

    In: Central Excise


  66. 2018 (2) TMI 1231

    In: Central Excise


  67. 2018 (2) TMI 1230

    In: Central Excise


  68. 2018 (2) TMI 1229

    In: Central Excise


  69. 2018 (2) TMI 1228

    In: Central Excise


  70. 2018 (2) TMI 1227

    In: Central Excise


  71. 2018 (2) TMI 1226

    In: Central Excise


  72. 2018 (2) TMI 1225

    In: Central Excise


  73. 2018 (2) TMI 1224

    In: VAT and Sales Tax


  74. 2018 (2) TMI 1223

    In: VAT and Sales Tax


 
 
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