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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

Case Laws in this Newsletter:

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



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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


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