Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Tax Updates - TMI e-Newsletters

Home e-Newsletters Index Year 2022 March Day 10 - Thursday

TMI e-Newsletters FAQ
Login to see detailed Newsletter

TMI Tax Updates - e-Newsletter
March 10, 2022

Case Laws in this Newsletter:

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



Highlights / Catch Notes

  • GST:

    Seeking grant for regular bail - issuance of invoices only, without any actual supply of goods - The applicant has been arrested on 01.09.2021. - The Commissioner is empower to recover the due amount and propose for abating the proceedings and as the trial will take its own time to conclude, this Court finds this to be a fit case where discretion could be exercised in favour of the applicant - HC

  • GST:

    Concessional rate of GST - works contracts - execution of works for Telangana State Industrial Infrastructure Corporation Limited (TSIIC) - Government entity or not - the benefit of concessional rate of GST @12% is not available - the supply of this service is taxable at the rate of 9% under CGST & SGST each. - AAR

  • Income Tax:

    Addition u/s 43B - deduction of payment of electricity duty disallowed - while it may be correct to say that the Assessee ‘paid’ the amount in dispute, it paid it only into an account from which the State Government could not withdraw the amount. - the net result is no different from the kind of payment made by the Assessee in the aforementioned two cases by furnishing bank guarantees in lieu of such disputed payment of duty.- HC

  • Income Tax:

    Stay of demand - pre-deposit of 20% of the demand - This proceedings issued by the assessing authority is in tune with Section 220(6) of the Act. Therefore, the petitioner need not construe that such insisting of 20% of the demand is a pre-deposit required for entertaining the appeal under Section 246A of the Act, but it is only a condition imposed by the assessing authority for grant of stay for the remaining amount of the demand under Section 220(6) of the Act. Therefore, for that reason the petitioner cannot once again challenge the impugned assessment order before this Court invoking the extraordinary jurisdiction under Article 226 of the Constitution of India. - HC

  • Income Tax:

    Denial of exemption u/s.11 - the assessee actually pursued only the objects as classified in categories (a) to (c). viz., Medical Relief to the poor patients, Education to the deserving students and Relief to the needy sections of the society and hence shied away from taking up any of the objects in category (d), viz., advancement of any other object of general public utility. Once this is the position, it becomes explicitly clear that the proviso to section 2(15), which attracts only when objects of the category (d) above are pursued, did not trigger in the instant case. - AT

  • Income Tax:

    Addition of Bad and Doubtful Debts Reserve (BDDR) for earlier years written back in the year under consideration - when there is no deduction claimed in the computation of total income on account of BDDR and its reversal in subsequent year i.e. involving present A.Y. 2014-15 under consideration does not warrant any addition, meaning no tax on the reversal of BDDR in the subsequent year. - AT

  • Income Tax:

    Disallowing interest u/s. 36(1)(iii) - CIT(A) allowed the claim - AO is drawing adverse inference that assessee has not submitted the utilization of the overdraft in the earlier years. We note that this is not the case, where AO has any power to reopen the case of earlier years or that the AO has stepped into the shoes of ld. CIT and is exercising jurisdiction u/s 263 and that also for earlier year. No cogent rebuttal has been given on behalf of the revenue against the finding given by ld. - AT

  • Income Tax:

    Income accrued or deemed to accrue or arise in India - Royalty - the BREW Operator Software agreements - an application development platform - The royalty from BREW operator agreement is not chargeable to tax in the hands of the assessee and also the revenue received under the test tools agreement - AT

  • Customs:

    Entitlement for benefit of exemption Notification - appellants themselves have classified their product under CTH 2711 1300 of the Customs Tariff Act. - While filing the provisional Bills of Entry, no protest was made with regard to classification of their product i.e. LPG. Therefore, at this juncture, the issue of classification cannot be raised to get the benefit of the above cited Notifications. - AT

  • Customs:

    Smuggling - Gold Bars - Gold Biscuits - Admittedly it is a case of town seizure. Out of the 5 gold bars and 1 cut piece seized, there is foreign marking – ‘rand refinery’ only on one gold bar. There is no such foreign marking admittedly on the other pieces recovered and seized. Thus, in absence of any evidence brought on record as to the allegation of smuggling, the provisions of Section 123 of the Act are not attracted in the case of other 4 pieces and the cut piece of the gold bar seized - Section 123 is attracted only in the case of one gold bar having foreign marking - AT

  • Central Excise:

    CENVAT Credit - transfer of Generator set after use by the appellant to its sister concern where the value has been assigned to that transfer - applicability of Rule 3(5A)(a) of the CCR, 2004 - The question of adjudication stands answered in affirmative i.e. Rule 3(5A) (a) the proviso thereof is applicable to the impugned transaction of the generator set after use by the appellant from one unit to another. - AT

  • Central Excise:

    Refund of unutilised CENVAT Credit - barred by time limitation or not - appeal filed before wrong forum - The refund claim filed by the appellant is in time - As both the authorities have not dealt with the merits of the claim of refund, in these circumstances, the impugned order is set aside and matter remanded to the adjudicating authority to entertain the claim on merits - AT

  • VAT:

    Validity of assessment order - rectification of mistake - error apparent on the face of record - The petitioner has not claimed that the original invoice has already been produced before the Revenue. What is stated by the petitioner is that, the petitioner has traced the original invoice and it is readily available with them to produce the same - this Court has no hesitation to hold that the impugned order does not survive under the legal scrutiny. - Matter restored back - HC

  • VAT:

    Rectification of mistake - apparent error on the face of record or not - While the Section 84 application was pending consideration, without deciding the same by passing express order in this regard, the respondent Revenue cannot proceed further to make a demand on the original assessment. Therefore, this Court has no hesitation to hold that the present demand dated 27.02.2019 is infirm and therefore, it is liable to be interfered with. - HC


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • GST

  • 2022 (3) TMI 396
  • 2022 (3) TMI 392
  • 2022 (3) TMI 394
  • 2022 (3) TMI 393
  • 2022 (3) TMI 395
  • Income Tax

  • 2022 (3) TMI 384
  • 2022 (3) TMI 383
  • 2022 (3) TMI 382
  • 2022 (3) TMI 381
  • 2022 (3) TMI 380
  • 2022 (3) TMI 379
  • 2022 (3) TMI 378
  • 2022 (3) TMI 391
  • 2022 (3) TMI 390
  • 2022 (3) TMI 389
  • 2022 (3) TMI 377
  • 2022 (3) TMI 388
  • 2022 (3) TMI 387
  • 2022 (3) TMI 376
  • 2022 (3) TMI 386
  • 2022 (3) TMI 375
  • 2022 (3) TMI 374
  • 2022 (3) TMI 373
  • 2022 (3) TMI 372
  • 2022 (3) TMI 385
  • Customs

  • 2022 (3) TMI 369
  • 2022 (3) TMI 368
  • 2022 (3) TMI 371
  • 2022 (3) TMI 367
  • 2022 (3) TMI 370
  • Corporate Laws

  • 2022 (3) TMI 366
  • 2022 (3) TMI 365
  • Insolvency & Bankruptcy

  • 2022 (3) TMI 364
  • 2022 (3) TMI 363
  • 2022 (3) TMI 362
  • PMLA

  • 2022 (3) TMI 361
  • Service Tax

  • 2022 (3) TMI 360
  • Central Excise

  • 2022 (3) TMI 359
  • 2022 (3) TMI 358
  • 2022 (3) TMI 357
  • CST, VAT & Sales Tax

  • 2022 (3) TMI 356
  • 2022 (3) TMI 355
  • 2022 (3) TMI 354
  • 2022 (3) TMI 353
  • Indian Laws

  • 2022 (3) TMI 352
 

Quick Updates:Latest Updates