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 →

M/s Rohil Zinc Ltd. Versus The State of Maharasthra & Others

Maintenance of records for 5 years - The five year period to be reckoned from the last day of the financial year concerned or not - Revision proceedings - Rate of tax on zinc oxide - 10% or 4% - In order to set right these mistakes, a revision was proposed. That was to revise the assessment order under section 57 of the BST Act. That is how Notice in Form 40 was issued and served upon the dealer on 7th December, 1998, calling upon him to remain present on 28th December, 1998. However, on that da .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

he Revisional Authority passed the order ex-parte on scrutiny of the case records underlying the assessment order dated 30th November, 1995. Thus, the records before the Assessing Authority were taken into consideration. The dealer was called upon on the basis thereof to satisfy the Revisional Authority as to why the assessment order should not be revised. There was absolutely no prejudice, therefore, to the dealer and he could have, on the basis of the order of assessment, opposed the exercise .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e questions at page Nos.6 and 7 of the paper-book and formulated by the applicant are all questions of law. Each of them should have been referred for the determination and answer by this Court. 2. Mr. Thakar, learned counsel appearing in support of the application, firstly submitted that Rule 54 of the Bombay Sales Tax Rules, 1959, do not require a dealer like the applicant to maintain records of past transactions for more than five years. The five year period, according to him, should be recko .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

t from 1st June, 1992. The assessment in the case of the petitioner resulted in only a demand of ₹ 6524/- being raised. According to the Tribunal, the scrutiny of the case records pertaining to the underlying assessment order was undertaken and which resulted in a revisional exercise. The Revising Authority held that the applicant is dealing in zinc oxide covered by the Schedule entry and is liable to tax at 10% but that taxable sales were disclosed for the same period in the returns furni .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

these mistakes, a revision was proposed. That was to revise the assessment order under section 57 of the BST Act. That is how Notice in Form 40 was issued and served upon the dealer on 7th December, 1998, calling upon him to remain present on 28th December, 1998. However, on that date the dealer did not remain present. That is why the matter was adjourned. On 6th December, 2000, in the absence of the dealer and his representative, the file was closed and the subject order dated 7th December, 200 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

is application and direct the Tribunal to forward the questions accordingly. 4. Reliance is placed, inter-alia, on the phraseology of Rule 54 and a Division Bench judgment of this Court reported in the case of Commissioner of Sales Tax vs. Ramdas Laxmidas Vol. 38 STC 354. 5. On the other hand, Mr. B.B.Sharma appearing on behalf of the Revenue would submit that none of these questions can be termed as questions of law. This is an attempt at re-appreciation and reappraisal or revisiting factual fi .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

records then available with the Assessing Officer. It is that exercise which was undertaken and there is absolutely no prejudice, for the dealer got all opportunities available to him in law. For all these reasons and bearing in mind the tax liability, Mr. Sharma would oppose this application and pray for its rejection. 6. We have heard both sides at length. 7. We are mindful of the fact that in Ramdas Laxmidas this Court was considering a question wherein the Department sought a Reference to t .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

x Act, 1946. It was not disputed that for the period, namely 1st April, 1948 to 31st March, 1952, i.e., much after it duly and legally filed the returns, it received a notice on 12th December, 1953, calling upon it to attend the Sales Tax Office in respect of the assessment. The order of assessment, which was one composite order for the entire period, was made on 27th April, 1954. In their returns and in the course of assessment, the respondents claimed to deduct the turnover of certain sales fr .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

r resale or for use as containers and other materials for the packing of goods to be sold or supplied by him. Rule 26(2) required that a dealer who wished to claim deduction from his gross turnover under the above Rule shall, on demand, produce in respect of the sale for which the deduction is claimed, the documents which are referred more particularly in this Court's judgment at page 355 of the Law Report. 8. It is in dealing with this controversy that the Division Bench held that when the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ion of suo moto revision proceedings or reassessment proceedings, or, when no period of limitation is prescribed, for the initiation of such proceedings for all times, and if he does not preserve such documents, no adverse inference can be drawn against him by the reassessing or revising authority nor can such authority in suo moto revision or reassessment proceedings cancel, withdraw or disallow any deduction or exemption allowed to him in his assessment proceedings on the strength of such docu .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

of law arising out of a peculiar controversy. 9. We do not see how any assistance can be derived from this judgment in the present case. 10. This is not a case where any order to the prejudice of the applicant-dealer has been passed because of non availability or non production of the records. The Second Appellate Order initially passed on 23rd June, 2010, recites the facts. The Revisional Authority passed the order ex-parte on scrutiny of the case records underlying the assessment order dated 3 .....

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: GST Invoice

Forum: GST on RCM on rent in a unregistered state

Forum: COMPOSITION SCHEME

Article: Websites of Government Departments need lot of improvement. We are noticing detoriations in them for example, case of website of ITAT.

Highlight: Levy of additions tax u/s 115O on distribution of dividend - shares of its profits declared as distributable among the shareholders is not impressed with the character of the profit from which it reaches the hands of the shareholder - not to be bifurcated as agriculture and non-agriculture dividend - SC

Highlight: Rate of GST on old and scrap buses - 28% or 18% - at such initial tender process initiated by the Respondents-KSRTC, the present petitions filed by the petitioners are premature and misconceived and do not require any interference by this Court at this stage. - HC

Forum: Rent a cab operator

Highlight: In view of amendment made u/s 132A of the Income Tax Act, 1961 by Finance Act of 2017, the 'reason to believe' or 'reason to suspect', as the case may be, shall not be disclosed to any person or any authority or the Appellate Tribunal, SC dismissed the appeal of the assessee

Highlight: Validity of Assessment Order - period of limitation u/s 153 (2A) is applicable even if the entire order was not set aside but matter was remanded back for for limited aspects with directions - HC

News: Note ban was a shake-up, achieved its main objectives

Notification: Amendments in the notification No.5/2017- Integrated Tax (Rate) dated the 28th June, 2017.

Highlight: Levying interest u/s 234C - interest is to be charged on the returned income and not on assessed income.

Highlight: Accrual of income - sale of right to develop and sell incentive FSI under LOI - till the conditions of LOI are fulfilled transfer is not complete and income does not accrue to the assessee

Highlight: TPA - determination of ALP - TP adjustment by applying Bright Line Test (BLT) is not sustainable on protective basis having no statutory mandate.

Highlight: Safeguard Duty - Advance License Scheme - as there is no exemption from safeguard duty leviable under Section 8C, which is imposed on the goods imported from China, the importer has to pay safeguard duty

Highlight: Manufacture - process of cutting of waste plastic container - Such plastic containers before and after cutting are nothing but waste / scrap - Not a manufacturing activity as no new product emerges.

News: NITI Aayog and Govt. of Assam organizes workshop on health sector reforms in Guwahati; launches SATH- Sustainable Action for Transforming Human Capital

Notification: Seeks to amend notification no. 5/2017- central tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding restriction of refund on corduroy fabrics

Notification: Seeks to amend notification no. 2/2017- central tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst exemptions

Forum: GSTR 3B Rectification

Notification: seeks to exempt Skimmed milk powder, or concentrated milk

Notification: Seeks to amend notification no. 2/2017- integrated tax(rate) dated 28.06.2017 to give effect to GST council decisions regarding GST exemptions.

Forum: 3B mistake

Notification: Seeks to amend notification no. 1/2017- central tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst rates

Notification: Seeks to amend notification no. 1/2017- integrated tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst rates.

Forum: GST - TRAN1 - filed - Data uploaded with Remarks Processed with Error - Not coming in Electronic credit ledger - need suggession guidance

News: Notification Issued For GST Actionable Claim On Branded Food Products

Highlight: Classification printed computer stationary/manifold Business Forms - to be classified under Chapter Heading 4820.00 or under Chapter Heading 4901.90 - items like A4 sheets, advertisement and job card to be classified under Chapter 49

Article: RCM Applicability to persons not liable to get registered us 23(1)

Article: Credit of unsold stock [Section 140(3)] - Actual Credit as well as Notional Credit - Part-I - GST Transitional provisions

News: GST Refund - Blockage of Working Capital of Exporters - earlier also there was a normal blockage of funds for a period of 5-6 months at least

News: Clarification about Transition Credit - ₹ 1.27 lakh crore of credit of Central Excise and Service Tax was lying as closing balance as on 30th June, 2017 - claim of credit of ₹ 65,000 crore is not unexpected

Article: 20 Things You must know about E Way Bills in GST Law

Article: MISTAKES IN DRAFTING

Forum: Duty Drawback- Urgent

Highlight: The Customs and Central Excise Duties Drawback Rules, 2017 and All Industry Rates (AIRs) of Drawback related changes -reg. - Circular

Highlight: The definition of "subsidiary company" or "subsidiary" u/s 2(87) of the Companies Act, 2013 shall come into force w.e.f. 20-9-2017

Highlight: Central Government notified the All Industry Rates of Duty Drawback Schedule w.e.f. 1.10.2017 - Notification

Notification: All Industry Rates of Duty Drawback Schedule w.e.f. 1.10.2017

Circular: Investment by Foreign Portfolio Investors in Corporate Debt Securities Review

Notification: Exemptions on supply of services under UTGST Act

Notification: Rates for supply of services under UTGST Act

Notification: Exemptions on supply of services under IGST Act

Notification: Rates for supply of services under IGST Act

Notification: List of Exempted supply of services under the CGST Act

Notification: Rates for supply of services under CGST Act

Highlight: Acceptance of deposits by companies from its members - conditions relaxed in case of Specified IFSC Public company and a private company - Rule 3 amended

Notification: Rate of exchange of conversion of the foreign currency with effect from 8th September, 2017

News: Tax Payers Advised To Confirm Identities Of Income Tax Search Authorities

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



|| 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