Revised Returns Filed Waiving Claim And Paid Taxes: Karnataka High Court Quashes Section 276C(1) Prosecution For Wilful Tax Evasion

The Karnataka High Court has quashed the prosecution under Section 276C(1) of the Income Tax Act for wilful tax evasion.The bench of Justice M. Nagaprasanna has observed that the assessees filed revised returns, waiving their claim for short-term capital loss and long-term capital gains, and also paid taxes, the moment the search was conducted and the assessment proceedings commenced.In September 2015, a search operation was conducted on the petitioner/assessee, his family members, and companies...

GSTN Issues Advisory On Payment Through Credit Card/Debit Card And UPI

The Goods and Service Tax Network (GSTN) has issued an advisory on payment through a credit card (CC) or debit card (DC) and the Unified Payments Interface (UPI).To facilitate payment through a credit card (CC) or debit card (DC) and the Unified Payments Interface (UPI), two new facilities of payment have now been provided under e-payment in addition to net banking.Payment through CC/DC/UPI can be made through Kotak Mahindra Bank, irrespective of the CC/DC issued by any Indian bank. Other banks...

In Absence Of Consignment Note Transport Services Can't Be Considered As GTA Services: CESTAT

The Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that in the absence of a consignment note, transport services cannot be considered goods transport agency (GTA) services.The bench of Binu Tamta (Judicial Member) has held that the goods were transported locally from the mines to the factory site, and since the distance to be covered is short, no consignment note has been issued by the service provider. Therefore, the levy of service tax under the category...

Change Of Opinion Does Not Constitute Justification To Believe Income Chargeable To Tax Has Escaped Assessment: Bombay High Court

The Bombay High Court has held that a change of opinion does not constitute justification and/or reasons to believe that income chargeable to tax has escaped assessment.The bench of Justice K. R. Shriram and Justice Neela Gokhale has observed that once a query is raised during the assessment proceedings and the assessee has replied to it, it follows that the query raised was a subject of consideration of the Assessing Officer while completing the assessment. It is not necessary that an...

CESTAT Quashes Service Tax, Interest And Penalty On Virgin Atlantic Airways On Passenger Service Fee, Airport Taxes

The Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has quashed the service tax, interest, and penalty on Virgin Atlantic Airlines passenger service fees and airport taxes.The bench of Justice Dilip Gupta (President) and P.V. Subba Rao (Technical Member) has remanded the matter to the Commissioner for verification of whether the appellant had collected any administrative charges during the relevant period and, if so, the taxability.The appellant/assessee, M/s. Virgin...

No Escapement Of Income By Singaporean Entity On Repatriating Rs.203.56 Cr. Arising From Redemption Of NCDs: ITAT

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the Singaporean Entity has not escaped the income on repatriating Rs.203.56 Cr. arising from redemption of non-convertible debentures (NCDs).The bench of Astha Chandra (Judicial Member) and B. R. R. Kumar (Accountant Member) has observed that the Assessing Office has not examined the relevant records before them wherein the interest earned has been duly offered to tax.The NCDs amounting to Rs. 150,00,00,000 were subscribed by...

Assessee Attempted To Drag Matter Knowing Well That Assessment Will Be Time Barred: Calcutta High Court Upholds Reassessment

The Calcutta High Court has held that the assessee had repeatedly sought adjournments, which would show that the assessee attempted to drag the matter along, knowing well that the assessment would be time-barred.The bench of Chief Justice T.S. Sivagnanam and Justice Supratim Bhattacharya have observed that the provision of Section 148A of the Act has been scrupulously followed by the assessing officer, and there is no error in the decision-making process of the court to interfere.The petitioner...

Fees Received For Sub-Licensing Sports Broadcasting Rights Attributable To 'Live Feed', Not Taxable As Royalty: Delhi High Court

The Delhi High Court has held that fees received by assessees for sub-licensing sports broadcasting rights attributable to 'live feed' is not taxable as royalty.The bench of Justice Yashwant Varma and Justice Girish Kathpalia has observed that once the Court came to the conclusion that a live telecast would not fall within the ambit of the expression “work”, it would be wholly erroneous to hold that the income derived by the assessee in respect of “live feed” would fall within clause (v) of...

UPGST | Invoice Contains Vehicle Details, Error In Not Filling Part-B Of E-Way Bill Technical: Allahabad High Court Quashes Penalty Order

The Allahabad High Court has held that if the invoice accompanying the goods contains all the details of the vehicle then not filing of Part-B of the e-way bill is a technical error without any intention to evade tax. The court quashed the penalty order under Section 129(3) of the UP Goods and Service Tax Act, 2017.Petitioner approached the High Court against the order under Section 129(3) of the UP GST Act imposing penalty on grounds of missing details in Part-B of the e-way bill accompanying...

Additional Commissioner Of Commercial Taxes Acted In Undue Haste In Disposing Of Revision Applications: Jharkhand High Court

The Jharkhand High Court has held that the Additional Commissioner of Commercial Taxes has acted in undue haste in disposing of the revision applications. It is trite law that if an authority acts in undue haste, malice in law is to be presumed, and his action is deemed to be mala fide.The bench of Justice Rongon Mukhopadhyay and Justice Deepak Roshan has observed that the Additional Commissioner, merely on the strength of a letter written by DCCT, initiated suo motu revision proceedings without...

Assessee To Approach Tribunal On Failure Of GST Dept. To Follow CESTAT's Direction, Writ Petition Not Maintainable: Orissa High Court

The Orissa High Court has held that the writ petition is not maintainable as the assessee has to approach the tribunal on the failure of the GST department to follow the direction of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT).The bench of Acting Chief Justice Dr. B.R. Sarangi and Justice Murahari Sri Raman has observed that it is incumbent upon the authority to give due opportunity of hearing to the petitioners adhering to the direction of the CESTAT. If the authority did...

CGST Preventive Wing And DGGI Wing To Forward All Investigation And Inter-Related Transaction To State Authorities: Jharkhand High Court

The Jharkhand High Court has opined that the Preventive Wing of the CGST and DGGI Wing of the CGST shall forward all their investigation carried out as against the petitioner and inter-related transactions to the State Authorities, who shall continue with the proceedings from the same stage.The bench of Justice Rongon Mukhopadhyay and Justice Deepak Roshan has stated that “we failed to understand as to what had become so emergent that prior to any determination or finding of any...