Tax
Supplementary SCN Although Termed As Supplementary, Is Actually Independent SCN Even Though It Relates To Smuggling: Calcutta High Court
The Calcutta High Court has held that the supplementary show cause notice, although termed the supplementary, is actually an independent show cause notice even though it relates to the case of smuggling.The bench of Chief Justice T.S. Sivagnanam and Justice Supratim Bhattacharya has observed that no order confiscating any goods or imposing any penalty on any person shall be made under Chapter (XIV) of the Act unless the owner of the goods is given a notice in writing with the prior approval of...
Expression “Yes” By PCIT Couldn't Be Considered A Valid Approval U/s 151 Of Income Tax Act: Delhi High Court
The Delhi High Court has held that the expression “yes” could not be considered to be a valid approval under Section 151 of the Income Tax Act.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that the satisfaction arrived at by the prescribed authority under Section 151 of the Income Tax Act must be clearly discernible from the expression used at the time of affixing its signature while according approval for reassessment under Section 148. The approval...
GST | Vehicle Number In 'Bilty' Couldn't Be Changed As Goods Were In Transit, E-Way Bill Was Updated: Allahabad HC Quashes Penalty Order
The Allahabad High Court has held that for goods in transit, vehicle number in bilty (consignment note) cannot be changed upon change of vehicle due to breakdown. The Court quashed the penalty order on grounds that vehicle number was updated in Part-B of the e-way bill.Petitioner's goods were intercepted, and penalty was imposed under Section 129(3) of the Uttar Pradesh Goods and Services Tax Act, 2017 on grounds that the bilty and invoice accompanying the goods had the earlier vehicle's number....
CBDT To Nudge Taxpayers To Compute Advance Tax Liability And Deposit Due Advance Tax Before 15 March
The Central Board of Direct Taxes (CBDT) to mount e-campaign for Advance Tax e-campaign for FY 2023-24.The Income Tax Department has received certain information on specific financial transactions undertaken by persons/entities during Financial Year (F.Y.) 2023-24. On the basis of analysis of the taxes paid so far during the current financial year, the Department has identified such persons/entities where payment of taxes for F.Y. 2023-24 (A.Y. 2024-25) is not commensurate with the financial...
Indirect Tax Cases Weekly Round-Up: 3 March To 9 March 2024
Delhi High Court Delhi High Court Directs GST Dept. To Pay 6% Interest For Delayed IGST Refund Case Title: Raghav Ventures Versus Commissioner Of Delhi Goods & Services Tax The Delhi High Court has directed the GST department to pay 6% interest on delayed IGST refund. Failure To Consider Reply On Merits; Delhi High Court Quashes GST Demand Against Max Healthcare Case Title: Max Healthcare Institute Limited Versus UOI Citation: 2024 LiveLaw (Del) 283 ...
Direct Tax Cases Weekly Round-Up:3 March To 9 March 2024
Delhi High Court Revisional Jurisdiction Can't Be Invoked For Inadequacy Of Enquiry By AO: Delhi High Court Case Title: PCIT Versus M/S Clix Finance India Pvt. Ltd. The Delhi High Court has held that the inadequacy of the inquiry by the AO with respect to certain claims would not in itself be a reason to invoke the powers enshrined in Section 263 of the Income Tax Act. Pick And Choose Method Of Rejecting Certain Entries From Books Of Account Is Arbitrary: Delhi High Court ...
CBDT Notifies Income Tax Exemption To Uttar Pradesh Real Estate Regulatory Authority
The Ministry of Finance, acting through the Central Board of Direct Taxes (CBDT), has issued a notification under section 10(46) of the Income-tax Act, 1961, granting specific tax exemptions to UP RERA for specified incomes. Analysis of Notification The exemptions will apply to certain specified incomes earned by UP RERA, including grants-in-aid, loans/advances from the government, fees/penalties received under the Real Estate (Regulation and Development) Act, 2016, fees under the...
Service Tax Not Liable To Be Paid On Ocean Freight/Sea Transportation Services: Bombay High Court
The Bombay High Court has held that service tax is not liable to be paid on ocean freight or sea transportation services.The bench of Justice G. S. Kulkarni and Justice Firdosh P. Pooniwalla has relied on the decision of the Gujarat High Court in the case of SAL Steel Ltd. vs. . Union of India, in which it was held that no tax is leviable under the Integrated Goods and Services Tax Act, 2007, on the ocean freight for the services provided by a person located in a non-taxable territory by way of...
Service Tax Can't Be Fastened Without Identifying Specific Service Provided And Consideration Received: CESTAT
The Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that service tax cannot be fastened without identifying the specific service provided and consideration received or to be received.The bench of Justice Dilip Gupta (President) and P. Anjani Kumar (Technical Member) has observed that in demanding the service tax, the twin conditions, i.e., identification of the particular service rendered and the payment received for such service, either before, during, or...
High Courts Can't Entertain Appeals On Determination Of Excise Duty Rate Or Value Of Goods For Assessment: Rajasthan High court
The Rajasthan High Court, Jaipur Bench, has held that an appeal would lie to the High Court if the High Court is satisfied that the case involves a substantial question of law; however, an appeal would not lie if the same pertains to the determination of any question having relation to the rate of duty of excise or to the value of goods for purposes of assessment.The bench of Justice Pankaj Bhandari and Justice Shubha Mehta has observed that SSI exemption for payment of central excise duty has...
Madras High Court Directs AO To Allow Transitional Credit Of Purchase Tax Paid Under GST Act If Already Paid under VAT Act
The Madras High Court has directed the Assessing Officer to allow transitional credit of purchase tax paid under Section 140 of the TNGST Act, 2017, if the petitioner had paid “purchase tax” under Section 12(1) of the TNVAT Act.The bench of Justice C. Saravanan has observed that the petitioner deserves a chance to defend the case as the impugned assessment order was passed during the period when the country was in semi-lockdown mode. If the VAT-TDS had indeed remained unutilized for discharging...
MRP Based Assessment Is Applicable Only To Mineral Water, Aerated Water And Not To Packaged Drinking Water: CESTAT
The Chennai Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that MRP-based assessment is applicable only to mineral water and aerated water and not to packaged drinking water.The bench of Sulekha Beevi C.S. (Judicial Member), and Vasa Seshagiri Rao (Technical Member) has observed that packaged drinking water cannot be assessed under Section 4A of the Central Excise Act, 1944. The bench noted that packaged drinking water is an entirely different product, falling...