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Home e-Newsletters Index Year 2020 August Day 25 - Tuesday

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TMI Tax Updates - e-Newsletter
August 25, 2020

Case Laws in this Newsletter:

GST Income Tax Customs Corporate Laws Insolvency & Bankruptcy CST, VAT & Sales Tax Indian Laws



Highlights / Catch Notes

  • GST:

    Claim of Refund with interest - Ocean freight - This court has declared the levy as ultra vires the IGST Act - The respondents are directed to sanction the refund and pay the requisite amount of IGST already paid by the writ applicant within six weeks - HC

  • GST:

    Illegal detention of applicant for three consecutive days - investigation not conducted in accordance of law - No grounds are made out to allow the presence of the Advocate while questioning or examination by the officers of the respondents - no inquiry/ investigating officer has a right to use any method which is not approved by law to extract information from a witness/ suspect during examination and in case it is so done, no one can be allowed to break the law with impunity and has to face the consequences of his action. - HC

  • GST:

    Classification of goods - Pattadar Pass Book cum Title Deed is a “Document of Title” - printing books - the Pattadar Pass Book cum Title Deed is not a document of title as claimed by the Appellant and is not classifiable under Chapter Heading 4907 of the Customs Tariff Act, The Pattadar Pass Book cum Title Deed is classifiable under Chapter heading 4820 of the Customs Tariff Act. - AAAR

  • Income Tax:

    Capital gain computation - transaction under consideration is between the members of AOP - Deeming fiction - the provisions of section 50C of the Act are not applicable in the instant case and provision of section 45(3) of the Act will be applied. - AT

  • Income Tax:

    Disallowance u/s 40(a)(ii) - though cess may be collected as part of income tax but that does not render such cess either rate or tax which cannot be deducted in terms of provision of section 40a(ii) - AT

  • Income Tax:

    Penalty u/s 271(1)(c) - The AO as well as the CIT(A) only proceeded on the basis that there was no income during the year therefore there is no business activity, but the same is fallacy and cannot be taken as the basis for imposing the penalty. - AT

  • Customs:

    Jurisdiction - willful misstatement - not a bonafide error - show cause notice ought to have been issued by an authority not below the rank of Additional / Joint Commissioner of Customs as per clause (ii) as the amount of drawback was way beyond ₹ 5.00 lakhs - SCN quashed - Fresh SCN may be issued in accordance with law - HC

  • Customs:

    Valuation of imported goods - Misdeclaration of imported goods - the adjudication order is vitiated for not permitting the retesting, inspite of the prayer of the importer – assessee - further, as per the report of CRCL the variation in the declared percentage of nickel is hardly 1% which is a matter of normal variation not calling for any adverse inference. - AT

  • Corporate Law:

    Oppression and Mismanagement - transfer of shares of promoters - The mere undertaking of the transferees not to transfer their shares will not cure the illegality. Since, the petitioners are questioning the actions of respondent No. 1-company, non-joinder of the Trust nor its Trustees as parties is not fatal and this Tribunal has every power to conduct legal scrutiny. - Tri

  • Indian Laws:

    Seeking information from GSTN under RTI - Exemption from Disclosure of information - The CIC had passed a decision to give the Minutes of the Board Meeting directing expunction of information which was exempt under Section 8(1)(d) of the Act. Hence the CIC left the whole thing at the discretion of the petitioner which was held not to be the correct approach - Matter restored back with direction - HC

  • Indian Laws:

    Cancellation of assignment deed - When it comes to cancellation of a deed by an executant to the document, such person can approach the Court under section 31, but when it comes to cancellation of a deed by a non-executant, the non-executant must approach the Court under section 34 of the Specific Relief Act, 1963. Cancellation of the very same deed, therefore, by a non-executant would be an action in personam since a suit has to be filed under section 34. However, cancellation of the same deed by an executant of the deed, being under section 31, would somehow convert the suit into a suit being in rem. All these anomalies only highlight the impossibility of holding that an action instituted under section 31 of the Specific Relief Act, 1963 is an action in rem. - SC

  • IBC:

    Withdrawal of CIRP proceedings on settlement between parties - when the Applicant wants to withdraw the application before Constitution of CoC, while resorting to amended Regulation 30 A, there is no bar for a party to simultaneously move Adjudicating Authority for withdrawal relying on Rule 11 of the NCLT Rules 2016. The Adjudicating Authority should receive such applications and can deal with the Applications in terms of above Para 79 while it may await response from IRP. - AT

  • IBC:

    Initiation of CIRP - Counter claim - the Adjudicating Authority cannot decide the counter claim while admitting the Application. As such, all the essential requirements have been fulfilled and Application under Section 7 IBC was rightly admitted by the Adjudicating Authority - AT

  • IBC:

    Initiation of CIRP - Effect of an ‘Acknowledgment’ of dues after the expiry of period of limitation - It cannot be gain said that ‘Acknowledgment of Liability’ is to be in writing, signed by a person against whom the property or right is claimed and the same must be within the period of Limitation. Suffice it for this Tribunal to relevantly point out that to bring an acknowledgment within the meaning of Section 18 of the Limitation Act, 1963, it ought to be an unqualified one which gives a fresh cause of action - AT

  • VAT:

    Maintainability of Writ application - Gujarat VAT Act - Escaped turnover - Supply to SEZ unit - As in the instance case, the GVAT Act, 2003 provides complete machinery for the assessment/reassessment of tax, imposition of penalty and for obtaining relief in respect of any improper orders passed by the authorities, in our opinion, the writ applicant should not be permitted to abandon that machinery and to invoke the jurisdiction of the High Court under Article 226 of the Constitution, more particularly, when the writ applicant has the adequate remedy open him by an appeal to the Joint Commissioner - HC


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • GST

  • 2020 (8) TMI 570
  • 2020 (8) TMI 569
  • 2020 (8) TMI 568
  • 2020 (8) TMI 567
  • 2020 (8) TMI 566
  • Income Tax

  • 2020 (8) TMI 565
  • 2020 (8) TMI 564
  • 2020 (8) TMI 563
  • 2020 (8) TMI 562
  • 2020 (8) TMI 561
  • 2020 (8) TMI 560
  • 2020 (8) TMI 559
  • 2020 (8) TMI 558
  • 2020 (8) TMI 557
  • 2020 (8) TMI 556
  • Customs

  • 2020 (8) TMI 555
  • 2020 (8) TMI 554
  • 2020 (8) TMI 553
  • 2020 (8) TMI 552
  • Corporate Laws

  • 2020 (8) TMI 551
  • 2020 (8) TMI 550
  • 2020 (8) TMI 549
  • Insolvency & Bankruptcy

  • 2020 (8) TMI 548
  • 2020 (8) TMI 547
  • 2020 (8) TMI 546
  • 2020 (8) TMI 545
  • 2020 (8) TMI 544
  • 2020 (8) TMI 543
  • 2020 (8) TMI 542
  • 2020 (8) TMI 541
  • 2020 (8) TMI 540
  • 2020 (8) TMI 539
  • 2020 (8) TMI 538
  • 2020 (8) TMI 537
  • 2020 (8) TMI 536
  • 2020 (8) TMI 535
  • 2020 (8) TMI 534
  • CST, VAT & Sales Tax

  • 2020 (8) TMI 532
  • 2020 (8) TMI 530
  • Indian Laws

  • 2020 (8) TMI 533
  • 2020 (8) TMI 531
 

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