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Home Newsletters Index Year 2018 February Day 6 - Tuesday
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TMI Updates - Newsletter dated: February 6, 2018

Case Laws in this Newsletter:

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



  1. Income Tax : Frequently Asked Questions (FAQs) regarding taxation of long-term capital gains proposed in Finance Bill, 2018-reg.

  2. Income Tax : Application of Dividend Distribution Tax to Deemed Dividend

  3. Income Tax : New scheme for scrutiny assessment

  4. Income Tax : Presumptive income u/s 44AE - heavy goods vehicle (more than 12MT gross vehicle weight) - Substantial increase in deemed income

  5. Income Tax : Aligning the scope of “business connection” with modified PE Rule as per Multilateral Instrument (MLI).

  6. Income Tax : TDS u/s 194C - payments made to developer by the co-operative society - activity of identifying suitable lands and forming a residential layout for allotment of residential sites to its members - No tds liability - - Tri

  7. Income Tax : Levy of fee u/s 234E - the related TDS statement was filed on 14th October, 2014, such a levy could only have been made at best within 15th October, 2015. That time has already elapsed and the defect is thus not curable even at this stage. - Tri

  8. Income Tax : Interest income Interest income on KVP, NSC and Savings Bank Account - accrual basis or receipt basis - The claim of the assessee that it is following receipt basis and hence cannot be taxed during the current year, is not accepted for the reason that, no method of accounting is followed by the assessee, who is only a salaried employee. - Tri

  9. Income Tax : Asassessee company registered u/s 25 of the Companies Act is carrying out its activities with specific aims and objects of imparting training in logistics, warehousing management and courier management for the benefit of the public at large being a public private partnership having affiliation of NSDC under the Ministry of Skill Development and Entrepreneurship as its vocational training partner and as such, is entitled to be registered u/s 12AA and consequent approval u/s 80G - Tri

  10. Customs : Import of base paper by availing DEEC exemption - the licence does not qualify the base paper with any particular colour. Hence the contention in the SCN that the noticee should have imported a particular colour of base paper only, does not appear to be legally sustainable - demand set aside - Tri

  11. Customs : Valuation of imported goods - the difference between the declared value and enhanced value is around 27% which could be ascribed not only on account of differences in the features between the two machines but also on account of the five months interregnum period between the two imports - demand set aside - Tri

  12. Customs : Classification of Brand water dispensers - The principal function of the goods is that of a dispenser of hot and cold water with an added feature of a mini refrigerator - the impugned items are required to be classified as water dispenser and not as a refrigerator - Tri

  13. Service Tax : Rent-a-cab operator service - There is no person involved as a recipient of a Rent-a-Cab service to whom the buses is handed over under a rent agreement - in this fact arrangement of providing the buses for a particular journey on KM basis does not fall under the category of Rent-a-Cab Operator Service. - Tri

  14. Service Tax : Business Auxiliary Service - failure to discharge service tax - appellant company is a registered under Section 25 of the Companies Act as a non-profit organization and therefore cannot be considered as commercial concern. - Tri

  15. Service Tax : Refund claim - Renting of Immovable Property Services - for residential / accommodation purpose or otherwise - the Scheduled Property is rented out for running of Hotel, Lodging House and allied/related activities. The Restaurant, Coffee Shop etc., are facilities attached to the business of renting of Hotel - refund not allowed - Tri

  16. Service Tax : Refund of penalty - there was no need to pay penalty - the said amount was suo moto deposited by the respondent while discharging the service tax and interest, which in my view, cannot be designated or termed as penalty. At best, it could be considered as an extra payment made - refund allowed - Tri

  17. Central Excise : Benefit of exemption - I.V. Fluids viz., Ofloxacin I.V. Infusion Revenue entertained a view that when the drugs manufactured by the respondents are administered intravenously, the same will not qualify for exemption as the said exemption is available only to I.V. Fluids used for Sugar, Electrolyte or Fluid replenishment - Contention of the revenue rejected - Benefit of N/N. 6/2002-CE allowed - Tri



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