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Home e-Newsletters Index Year 2019 September Day 16 - Monday

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TMI Tax Updates - e-Newsletter
September 16, 2019

Case Laws in this Newsletter:

GST Income Tax Customs Securities / SEBI Insolvency & Bankruptcy PMLA Service Tax Central Excise CST, VAT & Sales Tax Indian Laws



TMI SMS


Highlights / Catch Notes

  • GST:

    Provisional attachment of property - Just because, some proceedings are initiated under Section 67 by itself would not be sufficient to arrive at the satisfaction that it is necessary to provisionally attach the property for the purpose of protecting the interest of the government revenue. - HC

  • GST:

    Provisional attachment of property - In the absence of any cogent or credible material, if the subjective satisfaction is arrived at by the authority concerned for the purpose of passing an order of provisional attachment under Section 83 of the Act, then such action amounts to malice in law. - HC

  • Income Tax:

    High Pitched Scrutiny Assessment - the rejection of the petitioner's complaint by the Local Committee will not prejudice the rights of the petitioner to pursue the appeal already pending before the Appellate Authority by raising all the grounds and that all the appeals pending before the Appellate Authority can be disposed of on merits - HC

  • Income Tax:

    Where the assessee had received the alleged subvention amount or the subsidy as referred to by the Assessing Officer / TPO / DRP, the amount received by assessee from its parent company Nalco, USA was a capital receipt in the hands of assessee and hence, was not taxable in its hands. - AT

  • Income Tax:

    Levy of penalty u/s 271AAB - surrender of additional income during search - assessee had himself admitted to the fact that there were discrepancies and unrecorded entries in his books of account and also certain rough notings and estimates. Having himself admitted to all these facts and at no point of time having ever retracted this admission, the same constitutes incriminating material against the assessee - Levy of penalty confirmed - AT

  • Income Tax:

    Additional depreciation - Once the activity of the assessee is converting the large stone blocks into aggregate which is after undergoing the process of crushing then the said activity is production/ manufacturing of a new article or thing which is different/distinct from input - claim of additional depreciation on the purchase and use of new plant and machinery allowed - AT

  • Income Tax:

    Reopening of assessment u/s 147 - information received from the Investigation Wing of the Revenue is on the basis of material seized during search proceedings u/s. 132 - statutory presumption u/s. 292C is as to the truth of its’ contents - Assessee failed to raise the objection till the completion of assessment - argument of the assessee rejected - AT

  • Income Tax:

    Addition u/s 68 - Loans taken from non-resident Indians - the Revenue has taken the contradictory stand in two different assessment years. - No allegation of the Revenue that the assessee has provided funds from his unaccounted fund to the lenders to get its unaccounted fund in the accounting form - Addisons deleted - AT

  • Customs:

    Import of one used motor cycle under Transfer of residence (TR) facility - non-fulfillment of condition for availing the relaxation from import conditions - under-valuation - Department has not brought any material on record to show that the documents produced by them are not genuine document and that there was some transfer of illegal considerations - the said vehicle directed to be released on payment of appropriate duty - AT

  • Indian Laws:

    Demand of Interest on account of delay in payment of the penalty - The interest on such penalty being a statutory levy is required to be paid - the petitioner is required to pay interest on the delayed payment of penalty - HC

  • Indian Laws:

    Grant of Bail - commission of fraud punishable u/s 447 of the Companies Act, 2013 - siphoning off of funds - The High Court has failed to apply its mind to all the circumstances that were required to be considered while granting bail, particularly in relation to economic offences - SC

  • Service Tax:

    Classification of services - Business Auxiliary Services or not - amounts received by the Appellants from the vehicle manufacturer/ dealer and accounted by them in their book of accounts as subvention income - the prepayment charges can never be considered to be in the nature of interest - AT

  • Service Tax:

    Refund claim - time limitation - relevant date - the time limit for consideration of refund claims under Rule 5 of the CCR may be taken as the end of the quarter in which the FIRC is received, in cases where the refund claims are filed on a quarterly basis. - AT

  • Central Excise:

    Refund claim - CENVAT Credit reversed in excess of what was required to be reversed - in the present case, the final adjustment happens on 30.11.2017 and that is the relevant date for the purpose of reckoning the period of limitation as provided in Section 11B - AT

  • VAT:

    Set off of tax paid on purchase of raw materials used in the manufacture of tubular poles - Claim rejected on the reasoning that the assessee had not raised any such claim in its return and, therefore, it was not permissible to grant the same at the stage of assessment - revision application of the assessee dismissed - HC

  • VAT:

    Illegal detention of goods along with vehicle - No doubt, the department may have good case on merits in respect of certain illegal activities alleged to have been committed - But, they have no power to make such transmission of goods from one section to another section. - HC


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • GST

  • 2019 (9) TMI 617
  • 2019 (9) TMI 621
  • 2019 (9) TMI 620
  • 2019 (9) TMI 619
  • 2019 (9) TMI 618
  • Income Tax

  • 2019 (9) TMI 611
  • 2019 (9) TMI 610
  • 2019 (9) TMI 615
  • 2019 (9) TMI 609
  • 2019 (9) TMI 614
  • 2019 (9) TMI 608
  • 2019 (9) TMI 613
  • 2019 (9) TMI 612
  • 2019 (9) TMI 616
  • 2019 (9) TMI 607
  • 2019 (9) TMI 606
  • 2019 (9) TMI 605
  • 2019 (9) TMI 604
  • 2019 (9) TMI 603
  • 2019 (9) TMI 602
  • 2019 (9) TMI 601
  • 2019 (9) TMI 600
  • 2019 (9) TMI 599
  • Customs

  • 2019 (9) TMI 596
  • 2019 (9) TMI 595
  • 2019 (9) TMI 598
  • 2019 (9) TMI 597
  • Securities / SEBI

  • 2019 (9) TMI 592
  • 2019 (9) TMI 593
  • 2019 (9) TMI 591
  • Insolvency & Bankruptcy

  • 2019 (9) TMI 590
  • 2019 (9) TMI 589
  • 2019 (9) TMI 588
  • 2019 (9) TMI 587
  • 2019 (9) TMI 586
  • 2019 (9) TMI 594
  • PMLA

  • 2019 (9) TMI 585
  • Service Tax

  • 2019 (9) TMI 583
  • 2019 (9) TMI 582
  • 2019 (9) TMI 581
  • 2019 (9) TMI 580
  • 2019 (9) TMI 584
  • Central Excise

  • 2019 (9) TMI 578
  • 2019 (9) TMI 577
  • 2019 (9) TMI 576
  • 2019 (9) TMI 579
  • CST, VAT & Sales Tax

  • 2019 (9) TMI 575
  • 2019 (9) TMI 574
  • 2019 (9) TMI 573
  • 2019 (9) TMI 572
  • 2019 (9) TMI 571
  • Indian Laws

  • 2019 (9) TMI 570
  • 2019 (9) TMI 568
  • 2019 (9) TMI 569
  • 2019 (9) TMI 567
  • 2019 (9) TMI 566
 

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