Tax
Jaipur ITAT Directs Dept. To Allow Taxpayer To File Revised Appeal Memo In Form No. 35 For Removal Of Deficiency
While relegating the taxpayer to file a revised appeal memo in Form No. 35 either on the e-filing portal of the department or physical form, the Jaipur ITAT restored the matter back to the file of the CIT(A) to adjudicate the matter of rectification application for removal of deficiency, afresh, as per law. The Bench of the ITAT comprising of Sandep Gosain (Judicial Member) And M. L. MEENA (Accountant Member) observed that “either the CIT(A) would have issued a deficiency letter to the...
Controversy On New Tax Regime – No Clarity Before Litigation Challenges It?
'Income tax' which we call in Hindi 'Kar', has its origin under the law of the land, i.e., Indian Constitution. Entry 81, Schedule VII to the Constitution deals with the term 'Income tax' which means taxes on income only and nothing else. Separately, Article 265 of the Indian constitution deals with the taxes not to be imposed save by authority of law. It means that no tax shall be levied or collected except by the authority of law. Now, it's the end of the present financial year i.e.,...
Indirect Tax Cases Weekly Round-Up: 24 To 30 March 2024
Supreme Court Customs Act | S. 71 Inapplicable If Imported Goods Were Stocked Outside Notified Public Bonded Warehouse With Permission : Supreme Court Case Title: M/s Bisco Limited V Commissioner Of Customs And Central Excise Citation : 2024 LiveLaw (SC) 257 The Supreme Court has held that Section 71 of the Customs Act, 1962 would be inapplicable to cases where imported goods were stocked outside the notified public bonded warehouse with the permission of the concerned...
Direct Tax Cases Weekly Round-Up: 24 To 30 March 2024
Delhi High Court Addition Solely Based On Photocopy Of Sale Agreement Is Completely Unjustifiable: Delhi High Court Case Title: PCIT Versus Rashmi Rajiv Mehta The Delhi High Court has held that an addition solely based on a photocopy of the sale agreement is completely unwarranted and unjustifiable. ITAT CIT(A) Not Empowered To Dismiss An Appeal On Account Of Non-Prosecution: ITAT Case Title: MARC Laboratories Ltd. Versus Deputy Commissioner of Income Tax The...
No Service Tax Is Payable On Installations On CNG Kits In Absence Of Separate Invoices: CESTAT
The Ahmedabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that no service tax is payable on installations on CNG kits in the absence of separate invoices. The bench of Ramesh Nair (Judicial Member) and Raju (Technical Member) has observed that separate invoices were not found as regards the assessee having carried out installations on CNG kits. Despite the assessee having carried out such installations and paid VAT thereon, it cannot be ipso facto concluded...
Emotionally Intelligent Companion Device For Children Is Classifiable As 'Automatic Data Processing Machines' And Not 'Plastic Toys': CESTAT
The Mumbai Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that MIKO II, an “emotionally intelligent companion device” that is a 'human-like' companion for children, is classifiable as an automatic data processing machine and not 'a plastic toy'.The bench of Ajay Sharma (Judicial Member) and C. J. Mathew (Technical Member) has observed that the description of the imported goods is not just 'toys' made of plastic. It has capabilities endowed by technological...
Second Petition Can't Be Filed If First Petition Challenging ITC Reversal Is Unconditionally Withdrawn: Delhi High Court
The Delhi High Court has held that the petitioner, having unconditionally withdrawn the earlier petition and liberty being specifically declined to the petitioner, is precluded from filing the fresh petition seeking the same relief that was earlier withdrawn by the petitioner.The bench of Justice Sanjeev Sachdeva and Justice Ravinder Dudeja has relied on the decision of the Supreme Court in the case of Sarguja Transport Service vs. STAT, in which the Supreme Court explained that the principle...
Andhra Pradesh High Court Directs Municipal Corporation To Decide Representation On Waiver Of Interest On Property Tax Arrears
The Andhra Pradesh High Court, while restraining the Municipal Corporation from taking coercive steps against the petitioner, directed the corporation to decide representation on a waiver of interest on property tax arrears.The bench of Justice Ravi Cheemalapati has observed that the petitioner seems to have been paid an amount of Rs. 25,09,386 which includes penalty and interest on the property tax. Out of the said amount, the petitioner is entitled to a refund of the waiver amount (penalties...
Maharashtra Govt's Action In Levying Stamp Duty On 'DO' Is Within Legislative Competence Of State: Bombay High Court
The Bombay High Court has held that the action of the Maharashtra Government in levying stamp duty on delivery orders (DO) is within the legislative competence of the state.The bench of Justice G.S. Patel and Justice Neela Gokhale has observed that the action of the State of Maharashtra in levying stamp duty on Delivery Orders (DO) as provided in Article 29 of Schedule I of the Maharashtra Stamp Act, 1958 (MSA) is well within the legislative competence of the State and does not intrude upon the...
CBDT Notifies Changes In ITR-V And Acknowledgement Forms
The Central Board of Direct Taxes (CBDT) has notified the changes in ITR-V and acknowledgement forms.The Board has notified the Income-tax (Fifth Amendment) Rules, 2024 which shall come into effect from 1 April, 2023.The taxpayers will find additional instructions in the recently notified ITR-V.The taxpayer shall e-verify the electronically transmitted return data using Aadhaar OTP or Login to e-Filing account through Net-Banking login or EVC generated using Pre-Validated Bank Account/ Demat...
Assessment Order Passed In The Name Of Non-Existent Entity Is Void Ab Initio: ITAT
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that an assessment order passed in the name of a non-existent entity is void ab initio.The bench of Saktijit Dey (Vice President) and Dr. B.R.R. Kumar (Accountant Member) has observed that the merger of Boeing International Corporation India Ltd. with Boeing India Pvt. Ltd. was very much in the knowledge of the Assessing Officer much prior to framing the draft assessment order for the impugned assessment year.The...
CESTAT Classifies 'Brush Cutters' As Hand Held Agricultural Tool
The Chennai Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has classified the 'brush cutters' as hand-held agricultural tools.The bench of P. Dinesha (Judicial Member) and M. Ajit Kumar (Technical Member) has observed that goods, which are handheld machines, would, at first sight, and by their popular name, 'brush cutter', be more suitable to be classified under CTH 8467. However, the goods, due to the dispute in their classification, need to be examined with support from...