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Home Newsletters Index Year 2018 February Day 26 - Monday
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TMI Updates - Newsletter dated: February 26, 2018

Case Laws in this Newsletter:

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



  1. GST : Directions u/s 168 of the CGST Act regarding non-transition of CENVAT credit u/s 140 of CGST Act or non-utilization thereof in certain cases.

  2. Income Tax : Application u/s 119(2) - condoning the delay in filing the return for the assessment year 2009-2010 - claim of refund - delay condoned subject to rider that return would be treated as filed as on the date of order and subject for the purpose of scrutiny assessment - HC

  3. Income Tax : MAT computation - deduction of lease equalization charges while computing book profit - we cannot find fault with the assessee debiting lease equalization charges in the AYs in issue, in its profit and loss account. It represents a true and fair view of the accounts, which is a statutory requirement u/s 211(2) of the Companies Act. - HC

  4. Income Tax : Reopening of assessment - Addition u/s 68 - independent application of mind - The contention that the AO had merely and mechanically acted on the report of the investigation wing also cannot be accepted. - HC

  5. Income Tax : Deemed dividend u/s 2(22)(e) - assessee claimed the amount received as guarantee fee for advance received from Ginza - the real intent of Ginza in advancing the sums it did to the assessee was to share its profit by way of deemed dividend - Decided in favor of revenue - HC

  6. Income Tax : Income derived from the items, viz., penalty recovered from suppliers/contracts, unclaimed balance outstanding pertaining to SD/EMD of contractor written back in the books of accounts, rebate from power generators, interest income (FD for opening of LC to Power Grid Corporation Ltd., PGCIL) are allowable deduction u/s 80-IA(4)(iv)(c) - HC

  7. Income Tax : Since the first appellate authority has no jurisdiction to decide the validity or otherwise of an order passed u/s 127, transferring the jurisdiction from one Assessing Officer to another, it is, but, natural that he cannot declare any order passed u/s 127 as invalid and consequently set aside the assessment order. - Tri

  8. Income Tax : Even if the assessee's case is not covered by Article 8, the business profits would not be chargeable to Indian tax as it does not carry on business in India through a permanent establishment (an agency PE) as per articles 7 and 5 of the DTAA - Tri

  9. Income Tax : Income accrued in India or not - the effective management of the assessee is neither in Mauritius nor in India - if the effective management of an enterprise is not in one of the contracting state, but is situated in the third state, the benefit of article-8, cannot be extended. - Tri

  10. Income Tax : Addition u/s 68 r.w.s 56(2) - gift received from HUF - the legislative intent is very clear that an HUF is not to be taken as a donor in case of an individual recipient - additions confirmed - Tri

  11. Income Tax : Non–issuance of notice under section 143(2) of the Act by the Assessing Officer invalidates the order passed under section 143(3) r/w 147 of the Act, even if the assessee did not raise the objection against non–issuance of notice under section 143(2) within a period of one month - Tri

  12. Income Tax : Deduction u/s 80IA - where a benefit is allowed to the assessee for first two assessment years, the same cannot be denied in the subsequent block period as once the claim of the assessee was accepted and the clock had started running in favour of the assessee, it had to complete the entire period of ten years. - Tri

  13. Customs : Refund of IGST on Export– Invoice mis-match Cases – Alternative Mechanism with Officer Interface

  14. Customs : Anti-dumping duty on imports of "Toluene Di-Isocyanate (TDI)" originating in or exported from China PR, Japan and Korea RP - not to be levied for the period 5.12.2017 to 22.1.2018

  15. Customs : Benefit of concessional rate of customs duty withdrawn on import of screw (7318 15 00) and SIM socket / Other Mechanical items (Metal) (7326 90 99) for cellular mobile phone

  16. Customs : Freezing of bank accounts - there is no prohibition against investigation of old cases and past transactions, but in the garb of such investigation and scrutiny, the need for freezing and attaching the bank accounts should be made out by referring to and production of necessary materials. - HC

  17. Customs : Prima facie uneven coating can be considered as one of the defects for which purpose the paper cannot be considered as prime paper - the paper imported is defective and scrap only - benefit of concessional rate of duty allowed - Tri

  18. Indian Laws : Whether the Multi-National Accounting Firms (MAFs) are operating in India in violation of law in force in a clandestine manner, and no effective steps are being taken to enforce the said law. - SC directed the govt to constitute a three member Committee of experts to look into the matter.

  19. Central Excise : Valuation - sale of petroleum products through dealers - the appellant had discharged more excise duty on the clearances to and from COCO outlet, wherein the assessable value is more than the assessable value of the petroleum products cleared to dealers, which implies that the commission which has been extended to dealers has been included in the value. - Tri

  20. Central Excise : Classification of goods - It is understood that "Pulihora Paste " is not a ready to eat product but it has to be added with cooked rice, fried in hot edible oil, ground/cashew nuts if desired. Such a functional use of the impugned product is exclusively for rendering "Pulihora" the food preparation with aromatic, flavouring or seasoning properties - to be classified under chapter 9. - Tri

  21. Central Excise : Classification of goods - 'Biryani Masala Paste' would not fall under Chapter 20 it will fall under Chapter 9 - Tri

  22. Central Excise : CENVAT credit - input services - the outdoor catering service used for personal consumption of the employee is clearly excluded therefore the appellant is not entitled for CENVAT credit in respect of outdoor catering services - Tri


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