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Home Newsletters Index Year 2018 February Day 9 - Friday
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TMI Updates - Newsletter dated: February 9, 2018

Case Laws in this Newsletter:

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



  1. Income Tax : Reopening of assessment - assessment against deceased person - liability of Legal representatives - in the light of the provisions of section 159 of the Act the proceedings are required to be initiated against a legal representative and not against the deceased. - HC

  2. Income Tax : Reopening of assessment - assessment against deceased person - liability of Legal representatives - Insofar as the provisions of section 292B of the Act are concerned, the same would not be applicable as the petitioner is not the assessee - HC

  3. Income Tax : The assessee was entitled for deduction on account of interest paid to Allahabad Bank on the borrowed funds under section 57(iii) - such interest payment being more than the interest earned in both the years under consideration, no addition was liable to be made to the total income of the assessee on this issue - Tri

  4. Income Tax : TDS u/s 194H - Addition u/s 40(a)(ia) - when the assessee is not directly and indirectly in deciding the quantum of alleged commission/discount as well as determining the retail price at which the recharge coupons is sold to the customer then the provisions of section 194H cannot be applied - Tri

  5. Customs : Valuation - rejection of transaction value - From among the documents recovered from the laptop and mobile phone, the department has recovered the invoices/commercial invoices pertaining to the goods imported under these Bills of Entry - re-determining the value of the past imported goods on the basis of such invoices is justified - demand confirmed - Tri

  6. Indian Laws : Maintainability of appeal - doctrine of harmonious construction - whether an appeal, not maintainable under Section 50 of the Arbitration and Conciliation Act, 1996, is nonetheless maintainable under Section 13(1) of the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act, 2015? - Held No - SC

  7. Indian Laws : Appointment of an arbitrator - When the contractee accepted the final payment in full and final satisfaction of all its claims, there is no point in raising the claim for losses incurred during the execution of the Contract at a belated stage - SC

  8. Insolvency and Bankruptcy : Corporate Insolvency Resolution Process - whether Appellant is not a ‘Financial Creditor’? - a loan advanced against the time value of money - Held No - Tri

  9. Insolvency and Bankruptcy : Corporate insolvency process - This petition under Section 9 of the I & B Code cannot be filed in the representative capacity of 284 workers - The operational creditor himself can file a petition regarding the debt of other persons, only in case debt is assigned or transferred to him. - Tri

  10. Insolvency and Bankruptcy : Corporate Insolvency Resolution Process - existence of eligible debt - Operational Creditor had provided security services to the Corporate Debtor and maintained a running account in respect of the said transaction - application admitted - Tri

  11. Insolvency and Bankruptcy : Corporate insolvency process - The rationale of giving a particular treatment to a financial creditor in the process of insolvency of a company under the Code of 2016 cannot be said to offend any provisions of the Constitution of India. - HC

  12. Service Tax : Recovery of Service Tax dues - Garnishee order - There is no illegality in the impugned Garnishee proceedings under Section 87 of the Act for recovery of the Service Tax dues from the petitioner. - HC

  13. Service Tax : Voluntary Compliance Encouragement Scheme (VCES) - rejection of declaration on the ground that the tax payable and due to the petitioner as declared under the said VCES, 2013 was paid before the date of promulgation itself on 10.5.2013 - rejection of declaration was unjustified and cannot be sustained - HC

  14. Service Tax : Refund claim of service tax paid earlier - place of provision of service - Fashion Designing Services - there is nothing on record to show that the service or a part of the service has been performed in India - not taxable - refund allowed - Tri

  15. Service Tax : Export of service - receipt of consideration in convertible foreign exchange - The said debit of foreign exchange by the UK bank and consequent credit in Indian rupee in Indian bank as part of nostro transaction is reported to RBI and necessarily forms part of foreign exchange earning in India - Tri

  16. Service Tax : Programme producer service with reference to domestic radio stations - There is no second person at the time of appellant producing the programme which is apparently for self - such transactions are not covered by programme producer service as the appellant did not produce programme for a third party - demand of service tax set aside - Tri

  17. Central Excise : CENVAT credit - Refund claim - input services - man power recruitment service and security service - Section 68 (2) is a special mechanism for shifting part liability to pay service tax from service provider to service recipient but it does not convert in the service recipient into service provider - Rule 5B of CCR has no application in the appellants case. - Tri

  18. Central Excise : CENVAT credit - the legitimate claim of the appellant for availment of cenvat credit cannot be denied for simple reasons that the First Stage/ Second Stage dealer has not filled up the columns correctly - Tri

  19. Central Excise : CENVAT credit - capital goods - imported two extruder machines - it is found that both the authorities below are reading a non-existent condition into the definition of capital goods which is impermissible. - Tri

  20. VAT and Sales Tax : Input Tax Credit (ITC) - there cannot be breach of principles of natural justice in disallowance of the Input Tax Credit in the hands of the petitioner-assessee, if the selling dealer himself is shown to be an non-existing dealer from entity - HC



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