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Home Newsletters Index Year 2018 March Day 9 - Friday
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TMI Updates - Newsletter dated: March 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 : Non-competition agreement with Ranbaxy Laboratories Ltd. - nature of receipt - Though a vague finding was rendered that the amount which was otherwise receivable by the company was diverted by the appellant, the same was not substantiated by the Tribunal - in the absence of a finding that the two agreements entered with RLL and SPIL are sham and nominal, no addition can be made - HC

  2. Income Tax : TDS u/s 194C or 194J - contract for managing of solid waste - payment made by the assessee to UEEL for exhibiting the work contract would fall u/s 194C and not u/s 194J - Tri

  3. Income Tax : TDS u/s 195 - Assessee paid Commission to foreign agent is not the income chargeable to tax in India. Once an income is not chargeable to tax in India then the question of deducting TDS under the provision u/s 195 of the Act does not arise. - Tri

  4. Income Tax : LTCG - Deduction claimed u/s 54 - Section 54(2) does not say that in case the assessee could not get the possession of the property, he is not entitled for exemption u/s 54 - Tri

  5. Customs : Imposition of ADD - relevant date - warehoused goods - clearance of goods for home consumption - The levy of Anti Dumping Duty under the Notification dated 11.05.2017 is applicable to the goods cleared under the Ex-Bond Bill of Entry dated 31.08.2017. - HC

  6. Customs : Principle of natural justice - seeking cross examination of driver - fake clearance / deemed exports - The question as to what extent the principles of natural justice need to be stretched as they cannot be moulded and are not to be construed with stringent strictness but needs to be dealtwith the flexibility. - HC

  7. Customs : Jurisdiction of the Additional Director General to issue the said SCN - Nobody can deny that these authorities work for the ultimate object of implementation of the Customs Act, 1962. The tax payers have no right to choose their adjudicating authority. - HC

  8. Customs : Smuggling - Gold concealed in Zinc ingots - Attempt to smuggle the goods would breach all these conditions - there is clear breach of conditions of import of goods though perse import of goods may not be prohibited. - HC

  9. Customs : Penalty - short landing of goods - no blame can be fastened on the petitioner for intentionally being the cause for the short landing, this is a fit case, where, the entire penalty imposed on the petitioner requires to be vacated - HC

  10. Customs : Exemption to sports goods - The customs department cannot deny the fact that both the petitioners are Renowned Shooters and National Rifle Association certified so and considering the fact that one of them has done prior imports through the Bangalore Airport, the 4th respondent was not justified in denying the relief of exemption to the petitioner. - HC

  11. Customs : Revocation of Custom Duty Exemption Certificate (CDEC)- import of certain medical equipments - The gross abuse of customs duty exemption by these Institutions and as many as 392 Institutions out of 396 given such exemption lost their CDECs, defeats the very purpose for which such exemption was given, for the avowed purpose of providing free medical aid to the poor sections of the Society. - HC

  12. Customs : Classification of imported goods - Video Server having memory - The RAM of any device is meant only to assist the function of the internet circuit it cannot be treated as recording /storage device. - Tri

  13. Insolvency and Bankruptcy : Corporate insolvency process - existence of operational debt - failure to make payment against procurement of paddy - the application deserves to be admitted. - Tri

  14. News : Direct Tax collections for F.Y. 2017-2018 show growth of 19.5% up to February, 2018

  15. Service Tax : CENVAT credit - common services used for taxable as well as exempted service - The option was available to the assessee to reverse the proportionate credit under Rule 6(3) (ii) in terms of Rule 6(3A) of Cenvat Credit Rules, 2004. Accordingly, the demand of 8%/6% in terms of Rule 6(3) (i) cannot be sustained. - Tri

  16. Central Excise : 100% EOU - the waste generated during the manufacturing process of cotton blended yarn - predominating factor is of cotton waste, and waste is classifiable under Chapter 52 of cotton yarn manufactured in question, the duty cannot be demanded - Tri

  17. Central Excise : Classification of goods - “green houses” - the goods cleared by the appellant are classifiable under 9406 00 11 as green houses in ready to assemble sets - Tri

  18. Central Excise : Classification of goods - The motor vehicles manufactured by the appellants do not fall in the category of dumpers designed for off-highway use under 8704 10. They are classifiable, as claimed by the appellant under 8704 2390 as tipper trucks likewise the classification of chassis also will fall under 87060042 and not under 87060043 as claimed by the Department. - Tri

  19. Central Excise : CENVAT credit - inputs - it would be impractical to require the assessee to go behind the records maintained by the first stage dealers. The respondent under the fact of this case were found to have duly acted with all diligence in their dealings with the first stage dealers Simandhar. - Tri

  20. Central Excise : Clandestine removal - Revenue has been able to establish the procurement of the excess raw materials, excess payments made to the labourers, the excess electricity consumption and the excess installed capacity, the cumulative effect of all these evidences would lead to the inevitable conclusion that the appellants have manufactured and cleared clandestinely their final product. - Tri

  21. VAT and Sales Tax : Claiming benefit of exemption notification issued under old act even after introduction of VAT Act - Such a notification would not become inconsistent only because the right of tax payable for the transaction in the Act of 2008 is different from the rates specified in the Act of 1948. - HC



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