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Tax Updates - TMI e-Newsletters

Home e-Newsletters Index Year 2020 August Day 5 - Wednesday

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TMI Tax Updates - e-Newsletter
August 5, 2020

Case Laws in this Newsletter:

GST Income Tax FEMA Service Tax CST, VAT & Sales Tax



Highlights / Catch Notes

  • GST:

    Classification of supply - Works Contract or not - whether the applicant in the subject case is dealing in any immovable property which is transferred in the execution of the contract? - there is a composite supply in the subject case but there is no works contract involved in the subject case - The items are in nature of machine/instruments/equipment and are all replaceable and hence cannot he said to be of ‘immovable’ nature - AAR

  • Income Tax:

    Exemption u/s 11 - denying registration u/s. 12AA and denial of approval u/s. 80G - Charitable activity u/s 2(15) - the genuineness of the society stands established by the assessee which is running educational institutions, which imparts engineering courses and is recognised by the All India Council for Technical Education as well as established Polytechnic College, we are of the considered opinion that assessee society was eligible for grant of registration u/s. 12AA - AT

  • Income Tax:

    Higher depreciation on UPS - assessee claimed depreciation on UPS @ 60% treating the same to be part of computer and peripherals - UPS is an essential part of computer system and is eligible for depreciation @ 60% - AT

  • Income Tax:

    Disallowance u/s. 40A(3) - payments made through bearer cheques/in cash to the suppliers against supply of grits - AO estimated the GP/income after rejecting books of accounts - the said element of purchase in cash was subsumed in the income calculated by the AO - No further separate is required. - AT

  • Service Tax:

    Duplication of demand by issuing two show cause notices (SCN) for the same period - Sabka Vishwas Legacy Disputes Resolution Scheme, 2019 (SVLDRS) - The Dispute Resolution Scheme is an attempt to close legacy tax disputes and a certain amount of fairness should be seen in the interpretation of the provisions of the Scheme. - there being no dispute on the position that the petitioner has, admittedly, remitted the aforesaid amount and the demand under SCN2/OinO2 is a duel demand, the computation of the petitioner is accepted and the impugned order set aside. - HC

  • VAT:

    Assessment in the name of merged company - MAPL had been merged with the petitioner, MEPL - the 1st respondent, who is the Assessing Officer of the MAPL, ought to have dropped further proceedings since the assessee was no longer in existence. - HC


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • GST

  • 2020 (8) TMI 53
  • 2020 (8) TMI 52
  • 2020 (8) TMI 51
  • 2020 (8) TMI 54
  • Income Tax

  • 2020 (8) TMI 50
  • 2020 (8) TMI 49
  • 2020 (8) TMI 48
  • 2020 (8) TMI 47
  • 2020 (8) TMI 46
  • 2020 (8) TMI 45
  • FEMA

  • 2020 (8) TMI 44
  • Service Tax

  • 2020 (8) TMI 43
  • CST, VAT & Sales Tax

  • 2020 (8) TMI 42
 

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