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 2020 March Day 3 - Tuesday

TMI e-Newsletters FAQ
Login to see detailed Newsletter

TMI Tax Updates - e-Newsletter
March 3, 2020

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:

    Maintainability of application for advance ruling - Classification of goods - Flavoured Milk - The application for advance ruling could not have been made in this case as it is hit by the provisions of Section 98 (2) of the CGST Act in as much as an investigation was already initiated against them by DGGI on the very same issue that was raised before the Authority for Advance Ruling. - AAAR

  • GST:

    Benefit of exemption - commission earned from auctioning of flowers - principal agent relationship - agricultural produce or not - The commission earned from auctioning of flowers is not eligible for exemption - AAAR

  • GST:

    Benefit of exemption from GST - skill development training - services provided under sub-contract to main contractor, who in turn provides to M/s Maharashtra State Skill Development Society (MSSDS), in respect of training of Building and other construction workers (skill development training) - the required conditions are not fulfilled and hence the applicant is not entitled for exemption - AAR

  • GST:

    Classification of supply - Printing of contents on Poly Vinyl Chloride (PVC) banners - supply of goods or not - The transaction of printing of content provided by the customer, on Poly Vinyl Chloride (PVC) banners and supply of such printed trade advertisement material is supply of service - taxable @12% of GST - AAR

  • GST:

    Reopening of portal for filing of Form GST TRAN-1 - transitional credit - The respondents are directed to permit the petitioners to upload the declaration in form TRAN1 and as per order dated 7-2-2020 passed by the CBIC, the petitioners will be entitled to upload Form TRAN1 before 31st March 2020 to claim credit of CENVAT u/s 140(3) of the CGST Act, 2017 - HC

  • GST:

    Confiscation of goods alongwith vehicle which were already released - imposition of penalty - The proceedings, as on date, are at the stage of show cause notice, u/s 130 of GST. The proceedings shall go ahead in accordance with law - It is now for the applicant to make good his case that the show cause notice, issued in GST-MOV-10, deserves to be discharged. - HC

  • GST:

    Input tax credit - bogus tax purchases - As the statue is a complete code in itself, the respondents are yet to pass a final order, no case for interference is made out in the matter - HC

  • Income Tax:

    Exemption u/s 11 - registration u/s 12AA - Since by definition a charitable trust is not one which makes profits and if we accept the interpretation of the Revenue that first the activities of the trust must commence and its genuineness ascertained before the Principal Commissioner registers it, we would be asking the trust to carry on activities perhaps at a loss to the corpus or by compromising on the quality of such activities if the expenditure is done from the interest on the corpus because no one will donate money to a trust knowing that it is not tax deductable. - HC

  • Income Tax:

    Reopening of assessment - sanction of Scheme of Arrangement for demerger - Mere winding up or dissolution of the Company would not take away its liability, which is a matter to be gone into by the Assessing Officer. - HC

  • Income Tax:

    Nature of loss - business loss or speculation loss - trading in derivatives i.e. F&O of shares - The contract note clearly revealed that the transactions were supported by time stamped contract notes issued by the stock broker in which unique client identity and PAN number etc were also indicated - Loss sustained by the assessee from the transaction of purchase and sale of the shares cannot be deemed to be speculation loss. - HC

  • Income Tax:

    Income accrued in India - income in respect of “off-shore supply” of equipment - DTAA between India and Austria - The part of the operations of supply agreement have definitely been carried out in India by the permanent establishment of the assessee and for which part of the profit from the supply agreement also need to be taxed in India in terms of the treaty between India and the Austria as the assessee relied on the treaty provisions for considering taxation of the supply agreement. - AT

  • Customs:

    Grant of regular bail - Bribe - question of parity - The investigation reveals that the petitioner is the man who has created fear in the mind of the complainant that he would be involved in cases with DRI and COFEPOSA and after creating this terror in the mind of the complainant, the bribe amount was settled of which a sum of ₹ 25 Lakhs have been recovered from the petitioner. It is the petitioner who was the ex-clearing agent of the complainant and he is the man who had made the complainant to believe that his firms would also be under the DRI investigation and laid the foundation of this entire case. - Bail application dismissed - HC

  • IBC:

    Interpretation of Statute - Prohibition during the moratorium period - the recovery of any property by an owner or less or where such property is occupied by or in the possession of the corporate debtor - Section 14(1)(d) of the Insolvency & Bankruptcy Code, when it speaks about recovery of property “occupied”, does not refer to rights or interests created in property but only actual physical occupation of the property. - SC

  • IBC:

    Appointment of liquidator - Adjudicating authority rejected the "Approval of Resolution Plan" - 'Preferential transactions' - Power of adjudicating authority to cancel the lease agreement - The Adjudicating Authority is not empowered to pass an order of eviction and it is for an 'Aggrieved party' to move the appropriate forum for redressal of its grievances in accordance with Law.

  • IBC:

    Admissibility of application - initiation of CIRP - Having made the payment prior to initiation of CIRP, we are of the view that the case of the Respondent/Applicant cannot be treated as a Financial debt and default, in view of no debt payable to the Financial Creditor. - AT

  • IBC:

    CIRP Process - funds allegedly diverted by the Directors during the period of Moratorium - For violating the provisions of the 'I&B Code' including section 14, if the Appellant is liable for punishment under Chapter VII of the 'I&B Code', particularly section 70, 74 etc. of the 'I&B Code', they cannot divert the issue of punishment or their alleged violation of the order of the Adjudicating Authority/Tribunal by raising a separate issue which is not required for determination in this appeal in absence of any challenge of order of admission. - AT

  • Service Tax:

    Classification of service - BAS - amount of subsidy received - The amount of subsidy that the Appellant is receiving on account of sale of handsets at a lower price does not have any nexus with the promotion or marketing of the services provided by Tata Tele Services. - No service is being provided. - AT

  • Central Excise:

    Clandestine removal - suppression of production - Merely deposit of money at the time of investigation would not amount to acceptance of allegations of clandestine manufacture and removal as alleged by the department - the burden to prove allegation of clandestine manufacture and removal is heavily on the department and has to be discharged by producing clinching evidence on record, which has not been discharged by the department in the present case - AT

  • VAT:

    Classification of goods - 'hot mix material' transferred in a works contract - the goods transferred in execution of works contract will not be taxed at general rate but as per the rates prescribed of constituents material of the 'hot mix material'. - HC

  • VAT:

    Levy of penalty - suppression of turnover - even if the transaction was disclosed in the books of account it will be of no benefit. - Section 38 is worded in a manner that it applies not only to maintaining false or incorrect account but also to filing incorrect or false returns, which the appellant did in the present case. - HC


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • GST

  • 2020 (3) TMI 68
  • 2020 (3) TMI 67
  • 2020 (3) TMI 66
  • 2020 (3) TMI 12
  • 2020 (3) TMI 65
  • 2020 (3) TMI 1
  • 2020 (3) TMI 71
  • 2020 (3) TMI 70
  • 2020 (3) TMI 69
  • 2020 (3) TMI 73
  • 2020 (3) TMI 64
  • 2020 (3) TMI 72
  • 2020 (3) TMI 63
  • 2020 (3) TMI 62
  • 2020 (3) TMI 61
  • Income Tax

  • 2020 (3) TMI 54
  • 2020 (3) TMI 46
  • 2020 (3) TMI 45
  • 2020 (3) TMI 44
  • 2020 (3) TMI 53
  • 2020 (3) TMI 43
  • 2020 (3) TMI 52
  • 2020 (3) TMI 51
  • 2020 (3) TMI 50
  • 2020 (3) TMI 49
  • 2020 (3) TMI 48
  • 2020 (3) TMI 47
  • 2020 (3) TMI 42
  • 2020 (3) TMI 60
  • 2020 (3) TMI 59
  • 2020 (3) TMI 58
  • 2020 (3) TMI 57
  • 2020 (3) TMI 56
  • 2020 (3) TMI 55
  • Customs

  • 2020 (3) TMI 41
  • 2020 (3) TMI 37
  • 2020 (3) TMI 40
  • 2020 (3) TMI 39
  • 2020 (3) TMI 38
  • Corporate Laws

  • 2020 (3) TMI 36
  • 2020 (3) TMI 35
  • Insolvency & Bankruptcy

  • 2020 (3) TMI 32
  • 2020 (3) TMI 34
  • 2020 (3) TMI 33
  • 2020 (3) TMI 31
  • 2020 (3) TMI 30
  • 2020 (3) TMI 29
  • 2020 (3) TMI 28
  • 2020 (3) TMI 27
  • 2020 (3) TMI 26
  • 2020 (3) TMI 25
  • 2020 (3) TMI 24
  • 2020 (3) TMI 23
  • 2020 (3) TMI 22
  • PMLA

  • 2020 (3) TMI 21
  • 2020 (3) TMI 20
  • Service Tax

  • 2020 (3) TMI 18
  • 2020 (3) TMI 19
  • 2020 (3) TMI 17
  • Central Excise

  • 2020 (3) TMI 16
  • 2020 (3) TMI 15
  • 2020 (3) TMI 14
  • 2020 (3) TMI 74
  • CST, VAT & Sales Tax

  • 2020 (3) TMI 13
  • 2020 (3) TMI 11
  • 2020 (3) TMI 10
  • 2020 (3) TMI 9
  • 2020 (3) TMI 8
  • 2020 (3) TMI 7
  • 2020 (3) TMI 6
  • 2020 (3) TMI 5
  • Indian Laws

  • 2020 (3) TMI 4
  • 2020 (3) TMI 3
  • 2020 (3) TMI 2
 

Quick Updates:Latest Updates