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Tax Updates - TMI Newsletters
Home Newsletters Index Year 2018 February Day 28 - Wednesday
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TMI Updates - Newsletter dated: February 28, 2018

Case Laws in this Newsletter:

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


  1. Income Tax : Genuineness of royalty paid to the Director - colorable devise to reduce the tax liability or not - It has been held in the present case that the assessee company did not own the copyright. It was only granted a license to use the same - the payment of royalty for the same is nothing unusual - HC

  2. Income Tax : Special Audit u/s 142(2A) - from the record, it does not appear to be either absence of an opportunity of hearing altogether or the absence of any reasons at all - The same requires no interference under Article 226 - writ petition dismissed - HC

  3. Income Tax : Addition on account of difference in Arm’s Length Price - characterization of the business function of the taxpayer - When the taxpayer is not proved to be a risk bearer in the nature of credit risk, price risk, inventory risk, storage and handling risk etc., it cannot be treated as a trader. - Tri

  4. Income Tax : Addition on the sale of plot of land - The nature of land had gone irreversible change from agricultural to residential plots - this was an adventure in the nature of trade and income has to be taxed under the head ‘profit and gains of business and profession’ - Tri

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

  6. Customs : Customs Broker - Prohibition imposed - The power to frame Rules given to the Board in the various fields enumerated in Clauses (a) to (g) of sub-Section (2) of Section 146 of the Act are not restrictive in any manner, but they provide for different fields for which Regulations can provide for. - HC

  7. Customs : Customs Broker - Prohibition and suspensions - Departmental Authorities including the Appellate Authorities and also the CESTAT under Section 129-A of the Act are better equipped and manned with experts in the field to measure the pros and cons of the cases arising under the Customs Act, 1962 and therefore they are better disposed of to deal with the situations - HC

  8. Customs : The role of the CHA in the Customs procedures is significant. The CHA is expected to safeguard the interest of exporter of the goods as well as the Customs - even though the appellant is guilty, the violations are not so grave as to justify the revocation of the custom licence - Tri

  9. DGFT : Export of all varieties of onions are permitted for export without any MEP or LC w.e.f. 02.02.2018 till further orders.

  10. Service Tax : Penalty - service tax is paid along with interest before issuance of SCN - applicability of Section 73(3) of the FA - levy of penalty waived for more than one reason - Tri

  11. Service Tax : Business Auxiliary Services - the discount passed on by the manufacturer to the appellant cannot be construed as a commission and the same is not the subject matter of levy of service tax. - Tri

  12. Central Excise : Consideration of mega power policy benefits in proportion to the long term PPA tied up in case of provisional mega power projects

  13. Central Excise : Excisability - paper scrap generated in the factory - scrap of paper cannot be considered as a product different from the paper and Mere mentioning in the tariff is not sufficient to attract excise levy - Tri

  14. Central Excise : SSI exemption - denial of benefit of Job work - The requirement of declaration under N/N. 214/86, is not a mere facility. The declaration serves the purpose of shifting responsibility on payment of duty from the hob workers to principal manufacturer who undertakes to pay the duty liability in respect of goods. In the absence of the declaration no liability can be fixed on the principal manufacturer. - Tri

  15. Central Excise : Classification of Canvass and Tarpaulin - parts and accessories of motor vehicle or not - these Tarpaulin would be correctly classifiable under heading 6306 and not as ‘parts or accessories of motor vehicles’ under heading 8708. - Tri



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