Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

Munish Jain Versus State of Haryana And Another

Maintainability of Suit – Statutory Bar to entertain Suit – Plaintiff’s company was unable to repay its debt and Haryana financial corporation took possession of company including its pledged buildings, machinery, land etc and were put to auction – Simultaneously company failed to provide C-form and assessing authority under Haryana General Sales Tax Act, 1973 consequently served summons to make payment of amount due – Plaintiff seeking proper remedies and to be allowed to still furnish C-forms .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

. 3876 of 2011 (O & M) - Dated:- 27-7-2015 - Rajiv Narain Raina, J. For the Appellant : Mr R P Kansal, Adv. For the Respondent : None JUDGMENT Rajiv Narain Raina, J. The company represented by Munish Jain as plaintiff run into rough weather when it was unable to repay its debt. A business loan of ₹ 1.2 crores was taken from the Haryana Financial Corporation, Chandigarh [HFC] in the year 1998-99 against the properties of the company as security by pledging the properties of the surety to th .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Mills Private Limited. There was a parallel problem running against the company with respect to furnishing of C-forms respecting transactions involving tax liabilities under the Central Sales Tax Act, 1956 for the financial year 2001-02. The assessing authority under the Haryana General Sales Tax Act, 1973 gave breathing time to the company to produce C-forms to claim refunds but there was failure to act even in the extended time granted by the assessing authority. The company was required to s .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

58,300/- thereby totalling an amount of ₹ 32,74,685/-. However, the acceptance of these forms was rejected by the assessing authority since they were filed beyond the stipulated period. Consequently, the company was served summons to make payment of the amount due. The plaintiff made small payments of ₹ 70,000/-, ₹ 50,000/- and ₹ 20,000/- in the year 2007. 3. Since there was run on the company by the Excise and Taxation Department, Haryana demanding money due to it, the p .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

the assessing authority filed written statement and they took the objection inter alia that the civil court has no jurisdiction to try and entertain the suit. Even notice under Section 80 CPC was not served by the defendants or leave taken by the court to approach it directly for interim relief. The plaintiff had remedies available under the State Act and the Central Sales Tax which had not been availed or exhausted. The suit was dismissed and the appeal remained unsuccessful. 5. There is a clea .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

court and, save as is provided in sub-section (5) of Section 57 and Section 39, 40, 41 and 42, no appeal or application shall lie against any such assessment or order. 2. No injunction shall be granted by any Court other than the High Court of any State or the Supreme Court of India in respect of any assessment made or any proceedings initiated, or in respect of any action taken, or to be taken, in pursuance of any provisions of this Act or the rules made thereunder." 6. There is not only a .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

and not maintainable before the civil court and is clearly in abuse of the process of law. Both the Courts have inter alia non-suited the plaintiff on maintainability of the suit by relying on case law noticed in the judgment to which no reference is necessary in the present judgment as the position is well embedded in the law. Much time of the regular courts have been consumed on a matter involving C-forms within the exclusive jurisdiction of the taxing authorities. It is not the business of th .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     Latest Happenings     ↓  

Forum: Due date of Filing TRAN-1

Forum: Manpower Service provider

Forum: Excise duty credit on finished stock at additional place of business.

Forum: 3B mistake

Highlight: Diversion of income at source - Joint venture agreement - 97% of the receipt transfer to M/s TRG Industries (P) Ltd. - scope of the agreement - it is diversion by overriding title - not taxable in the hands of assessee - HC

Highlight: Expenditure on eligible projects or schemes u/s 35AC - After 01.04.2017 the legislature desired to withdraw such deduction. - The Union legislature was competent to introduce such amendment - HC

Highlight: Transfer of trading assets at cost price, the profit component also stood transferred to the outgoing Directors, which otherwise belonged to the Company - the fact that AO has made the addition in the hands of the Directors would not make any difference - additions confirmed - HC

Highlight: The interest u/s 234B of the Act cannot go beyond the stage of S.245D(I) before the Settlement Commission - HC

Highlight: Galvanized iron pipe is a different commercial commodity than a iron pipe, therefore the activity of galvanization in our considered opinion amounts to manufacture - Deduction u/s 80-IB allowed - HC

Highlight: Penalty u/s 271C - non deduction of TDS on interest paid to sister concerns in terms of Section 194A - Levy of penalty confirmed - HC

Highlight: Disallowance of interest - reference to section 179 - The legislature has also recognised, that the doctrine of lifting of veil in the matter of tax dues is to be applied to prevent fraud etc. and not where the company has suffered despite its normal bona fide function. - HC

News: RBI Reference Rate for US $

Notification: Amendment in Notification No. S.O. 3118(E), dated the 3rd October, 2016

Highlight: Discount on ESOP to be allowed as business expenditure u/s 37(1), during the years of vesting on the basis of percentage of vesting during such period, subject to upward or downward adjustment at the time of exercise of option.

Notification: Central Government appoints the 20th September, 2017 as the date on which proviso to clause (87) of section 2 of the Companies Act 2013, shall come into force

Notification: Companies (Restriction on number of layers) Rules, 2017

Highlight: Penalty u/s 271(1)(c) - additional income disclosure - surrender of income post survey u/s 133A - he disclosure made by the assessee is voluntary in nature, in the revised return - no penalty

Highlight: Reopening of assessment - notice u/s 148 issued on the directions of JCIT / CIT - a perusal of reasons for initiating reassessment proceedings clearly show that they are against the sprit of provisions u/s 147

Notification: All Industry Rates of Duty Drawback Schedule

Highlight: MAT - Adjustment to book profit - computation u/clause (f) of Explanation-1 to section 115JB(2) is to be made without resorting to the computation as contemplated u/s 14A r.w.Rule 8D of I.T. Rules.

Notification: The Customs and Central Excise Duties Drawback Rules, 2017

Highlight: Addition on account of alleged suppression of service value received - the addition made simply believing the Form 26AS will be an arbitrary exercise of power which cannot be sustained

Notification: Exempts intra state supply of heavy water and nuclear fuels from DAE to NPCIL

Notification: Seeks to amend notification No. 12/2017-UTT(R) to exempt right to admission to the events organised under FIFA U-17 World Cup 2017

Notification: Seeks to amend notification No. 11/2017- UTT(R) to reduce CGST rate on specified supplies of Works Contract Services

Highlight: Liability to pay duty on import of software - Though no authorization was given by the appellant to DHL, it is an undisputed position that the software has, in fact, been ordered by the appellant and have been delivered to them by DHL - the appellant is to be considered as the importer

Notification: Exempts inter-state supply of heavy water and nuclear fuels from DAE to NPCIL

Notification: Seeks to amend notification No. 09/2017-IT(R) to exempt right to admission to the events organised under FIFA U-17 World Cup 2017

Notification: Seeks to amend notification No. 08/2017-IT(R) to reduce CGST rate on specified supplies of Works Contract Services

Notification: Exempts intra state supply of heavy water and nuclear fuels from DAE to NPCIL

Notification: Seeks to amend notification No. 12/2017-CT(R) to exempt right to admission to the events organised under FIFA U-17 World Cup 2017

Notification: Seeks to amend notification No. 11/2017-CT(R) to reduce CGST rate on specified supplies of Works Contract Services.

News: Tax on fuel more important for a dry state like Gujarat

Highlight: For an ayurvedic medicine to be classified under Chapter 30 has to pass the test whether it is for cure of any disease. If the same is only meant for care, then such product would not fall under medicament.

Highlight: Demand of interest - the period of limitation that applies to a claim for the principal amount should also apply to the claim of interest thereon.

Highlight: Government issues new notifications under CGST, IGST and UTGST to grant fresh exemptions in respect of certain supplies.

Circular: Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 117 of the Central Goods and Services Tax Rules, 2017

Forum: Input tax credit

Forum: Cess paid instead of SGST

Forum: Construction of single unit bungalow

Article: SIMPLIFIED E-WAY BILL UNDER GST

Article: SERVICES UNDER REVERSE CHARGE UNDER GST REGIME

Highlight: Rate of exchange of conversion of the foreign currency with effect from 22th September, 2017 - Notification

Highlight: Companies (Acceptance of Deposits) Second Amendment Rules, 2017 - Notification

Highlight: Implementing Electronic Sealing for containers by exporters under self-sealing procedure prescribed by Circular 26/2017-Cus dated 1st July, 2017 and Circular 36/2017 dated 28 th August, 2017. — reg. - Circular

Highlight: Amendment to Paragraph 2.72 (b) of the Handbook of Procedures of the Foreign Trade Policy (FTP) 2015-20 - Public Notice

Notification: Amendment in Appendix 3 (SCOMET items) to Schedule- 2 of ITC (HS) Classification of Export and Import Items 2012

Circular: Amendment to Paragraph 2.72 (b) of the Handbook of Procedures of the Foreign Trade Policy (FTP) 2015-20

Notification: Companies (Acceptance of Deposits) Second Amendment Rules, 2017

Notification: Rate of exchange of conversion of the foreign currency with effect from 22th September, 2017



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version