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 →

TINPLATE CO. OF INDIA LTD. Versus JOINT COMMNR. OF I.T. SPL. RANGE-7 CAL.

Reopening of assessment - Held that:- The petitioner is not guilty of not disclosing fully and truly all material facts necessary for the relevant assessment year. In such circumstances, hold that invocation of provision of Section 148 by the Assessing Officer is unwarranted for the relevant assessment year. - WP No. 1158 of 2000 - Dated:- 20-7-2016 - Debangsu Basak, J. Mr. J.P. Khaitan, Sr. Adv. Ms. Nilanjana Banerjee Pal, Adv. For the petitioner Md. Nizamuddin, Adv. Mr. Tapas Kumar Chatterjee, .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

-Versus-Joint Commissioner of Income Tax, Special Range-7, Calcutta]. Such writ petition was disposed of by an order dated May 5, 2016 by setting aside, the impugned notice under Section 148 as also the reasons provided with regard thereto. He has submitted that, the petitioner is not guilty of suppression of any fact before the Assessing Officer. The petitioner had filed the requisite return for the relevant year. Such return was assessed under Section 143(3) by the Assessing Officer. The Asses .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

such order containing the reasons. He has submitted that the Assessing Officer has invoked Section 148 for looking into the four aspects of the return, namely technical knowhow fees, non-inclusion of excise duty, payment made to club and guest house expenses. He has referred to the balance- sheet of the petitioner as also the return filed and has submitted that, the petitioner had made full disclosure in respect of all the four heads to the Assessing Officer. The Assessing Officer had considered .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

hough the petitioner had preferred an appeal from the order under Section 143(3) of the Act of 1961, they were on other points than those disclosed in the reasons for invoking Section 148 of the Act of 1961. Learned Advocate for the Department has submitted that, the petitioner had filed an objection against invocation of Section 148 of the Assessing Officer. Without allowing the Assessing Officer to decide on the objection, the petitioner has rushed to Writ Court. He has relied upon 259 ITR 19 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ssee should be asked to avail of his remedy before the Assessing Officer before coming to the the High Court by way of Writ under Article 226 of the Constitution in respect of invocation of Section 148 of the Income Tax Act, 1961. He has referred to 256 ITR 61 (Trivandrum Club -Versus- Assistant Director of Income Tax (Exemption) & Ors.) and has submitted that, the point of jurisdiction can also be taken before the Assessing Officer. In reply, learned Senior Advocate for the respondent has 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

of 2001. I had found the invocation of the provisions of Section 148 of the Act of 1961 by the Assessing Officer to be bad in respect of the assessment year 1993-1994. One of the points involved in the impugned notice under Section 148 in WP No. 1280 of 2001 is the treatment of technical knowhow fees. I find from the record that the petitioner had disclosed all materials facts relating to technical knowhow fees before the Assessing Officer in the present assessment year as also for the assessmen .....

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 Act of 1961. Although an appeal was carried against the order of assessment, the same related to heads other than those involved in the notice under Section 148. G.K.N.Driveshafts (India) Ltd (supra) has held that, the Assessing Officer is bound to furnish the reasons within reasonable time for invoking Section 148 of the Income Tax Act, 1961. On receipt of such notice, the Assessee is entitled to file objection to the issuance of such notice and that, the Assessing Officer is bound to dispose .....

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     ↓  

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

Forum: GST Invoice

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

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

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

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



|| 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