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Home e-Newsletters Index Year 2021 May Day 11 - Tuesday

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TMI Tax Updates - e-Newsletter
May 11, 2021

Case Laws in this Newsletter:

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



Highlights / Catch Notes

    GST

  • Grant of Bail - Validity of section 132(1)(b) and (c) of the Central Goods and Services Tax Act, 2017 - power under Section 69 of the CST Act - arrest for alleged non-payment of GST and alleged illegal availment of ITC - Bail granted subject to conditions - HC

  • Validity of SCN - Carried forward Input Tax Credit in TRAN-1 from the era of Service Tax - Let the petitioner put forth its objections in regard to the proposed reversal of carried-forward of input tax credit within a period of four weeks from today. - HC

  • Income Tax

  • DTVSV Act - declaration of the petitioner under the Direct Tax Vivad Se Vishwas rejected - it appears that the submissions on behalf of the petitioner carry lot of weight and it is difficult to consider the authority under the DTVSV Act would be able to go into the merits/grounds or legality of the appeal filed by the declarant. - The rejection of declaration of the Petitioner is set aside. - HC

  • Revision u/s 263 - deduction u/s 80IA(4)(iii) - Even the coordinate benches of this Tribunal in assessee’s own case in earlier AYs has allowed the assessee’s claim of deduction u/s 80IA(4) of the Act. In view of this, in our considered opinion, the order passed by the AO is not erroneous and prejudicial to the interests of revenue as alleged by Pr. CIT.- AT

  • Customs

  • Smuggling - Gold - baggage goods - As no such investigation has been done to establish that the goods in question are of foreign origin, therefore, the provision of Section 123 of the Customs Act is not applicable to the facts of this case - Further, the appellant has never admitted that the goods are of foreign origin or has been smuggled. - The proceedings against the appellant are bad in law - AT

  • Corporate Law

  • Oppression and Mismanagement - illegal allotment of shares - the allegations that there has been an illegal allotment of Petitioner's shares, exclusion of Petitioner from the management of the Company, siphoning off funds from Respondent No. 2 to Respondent No. 4, illegal resolution passed by the Company, non-sending of notices to the board and general meetings of the Company is not tenable as they have been actions taken pursuant to execution of MOU/family arrangement between the Petitioner and Respondent No. 2 to 4. - Tri

  • IBC

  • Initiation of CIRP - the nature of Debt is a "Financial Debt" as defined under section 5 (8) of the Code. It has also been established that there is a "Default" as defined under section 3 (12) of the Code on the part of the Debtor. The two essential qualifications, i.e. existence of 'debt' and 'default', for admission of a petition under section 7 of the I&B Code, have been met in this case.- Tri

  • PMLA

  • Seeking grant of anticipatory bail - Taking into consideration the entire facts and scenario and without commenting anything on the merits of the case irrespective of the quantum of financial loss which has been caused to the State Exchequer, the overall act and conduct of the applicant/accused leads this Court to a definite conclusion that affording the benefit of anticipatory bail will deny the investigating agency a fair right to investigate the case properly by effectively interrogating the accused and this denial will scuttle the investigation. - DSC

  • Service Tax

  • Principles of natural justice - service of order in original - levy of service tax - This Court is of the view that the dispute, as to whether the petitioner was earlier communicated or not communicated the order dated 20.3.2017 cannot be considered by this Court in writ jurisdiction, particularly when it has been recorded in Annexure 11 that the same was earlier delivered to the petitioner at their business address as well as residential address. - HC

  • Central Excise

  • Recovery of excess cash refund - submission of the learned counsel for the petitioner is that the notice is devoid of any merit, inasmuch as, no such recovery can be made in exercise of powers under Section 11A of the Act as under the said provision only an amount which has been erroneously refunded can be refunded - HC refused to interfere at SCN stage

  • Refund of CENVAT Credit - amount was paid under protest or not - the contesting the reversal of cenvat credit by the appellant shall amounts to reversal under protest as per the various judicial decisions discussed - the refund claim filed by the appellant is not barred by limitation prescribed under Section 11B(1) - AT


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • GST

  • 2021 (5) TMI 291
  • 2021 (5) TMI 285
  • 2021 (5) TMI 268
  • Income Tax

  • 2021 (5) TMI 290
  • 2021 (5) TMI 289
  • 2021 (5) TMI 286
  • 2021 (5) TMI 280
  • Customs

  • 2021 (5) TMI 282
  • Corporate Laws

  • 2021 (5) TMI 278
  • Insolvency & Bankruptcy

  • 2021 (5) TMI 279
  • 2021 (5) TMI 277
  • 2021 (5) TMI 276
  • 2021 (5) TMI 275
  • 2021 (5) TMI 274
  • 2021 (5) TMI 273
  • 2021 (5) TMI 272
  • 2021 (5) TMI 271
  • 2021 (5) TMI 270
  • PMLA

  • 2021 (5) TMI 269
  • Service Tax

  • 2021 (5) TMI 287
  • 2021 (5) TMI 283
  • Central Excise

  • 2021 (5) TMI 288
  • 2021 (5) TMI 281
  • CST, VAT & Sales Tax

  • 2021 (5) TMI 284
 

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