Maharashtra Goods and Services Tax (Amendment) Ordinance, 2023: Govt. Notifies Provisions Relating To 'Online Gaming'

The Maharashtra Government has notified the Maharashtra Goods and Services Tax (Amendment) Ordinance, 2023 which introduced the provisions relating to 'online gaming' and 'Online Money Gaming.'The addition of definitions for terminology like "virtual digital asset" and "specified actionable claim" is a noteworthy feature of this update. Furthermore, the Act substitutes the phrase "specified actionable claims" for the more general word "lottery, betting, and gambling."As per the newly inserted...

Transactions Concerning Mutual Funds Not In The Nature Of Investment And Not Motivated By Trade: Delhi High Court

The Delhi High Court has held that transactions concerning mutual funds were in the nature of investment and not motivated by trade.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed that the intent has to be ascertained keeping in mind the magnitude and frequency of the transactions, the period for which shares are held, the purpose for which they are held, and how transactions are disclosed in the books of account. There is no presumption in law that the acquisition...

Pair Of Bra Cups Are Used For One Brassier, Customs Duty Is To Be Charged On Value Of Pair: CESTAT

The Banglore Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that if a pair of bra cups is used for one brassier, customs duty is to be charged on the value of the pair.The bench of P. A. Augustian (Judicial Member) and R. Bhagya Devi (Technical Member) has observed that duty is to be charged on the value of the pair and not on a single piece. The packing list clearly shows the items were imported in pairs, and it is also a fact that a pair of bra cups is used for...

Design Work Of Slaughter House Established For Kolkata Municipal Corporation Covered Under Article 243W, No Service Tax Payable: CESTAT

The Allahabad Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the design work of slaughterhouses established for Kolkata municipal corporations is covered under Article 243W of the Constitution of India, and no service tax is payable.The bench of P. K. Choudhary (Judicial Member) and Sanjiv Srivastava (Technical Member) has observed that the slaughter house was established for Kolkata Municipal Corporation in terms of Article 243W read with Schedule 12th of the...

Dept. Not Empowered To Retain Amount Deposited Under-Protest: CESTAT

The Allahabad Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that the amount deposited during the pendency of adjudication proceedings or investigation is in the nature of deposit made under-protest or pre-deposit and therefore principles of unjust enrichment would not be attracted.The bench of P.K. Choudhary (Judicial Member) has observed that deposits made under-protest or pre-deposit cannot be retained by the department, as it has no authority to retain the amount and it...

Adjudication Order Can't Travel Beyond Show Cause Notice: CESTAT

The Ahmedabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the adjudication order cannot travel beyond the scope of a show cause notice.The bench of Ramesh Nair (Judicial Member) and Raju (Technical Member) has observed that when, with regard to any charge or assignment, the noticee is not put to notice, that issue cannot be decided in the adjudication order.On the basis of the investigation and recording of the statements of the employees of the...

Tax Cases Weekly Round-Up: 7 To 13 January 2024

Supreme CourtDefinition Of 'Manufacture' U/s 2(e)(1) Of UP Trade Tax Act Does Not Include Blending And Packaging Tea: Supreme CourtCase Title: Commissioner Of Trade Tax, U.P. v. M/s Mishra Tea Blending And Packing Industries, UP [CIVIL APPEAL NOS. 5677-5678/2011]Citation: 2023 LiveLaw (SC) 1076Recently, the Supreme Court has held that the definition of 'manufacture' under Section 2(e)(1) of the U.P. Trade Tax Act, 1948 does not include blending and packaging tea.Hiring Of Motor Vehicle Or Cranes...

Indian Chamber Of Commerce Entitled To Claim Exemption In Respect Of Receipts From Seminars And Conferences: ITAT

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has held that the Indian Chamber of Commerce (ICC) is entitled to claim exemption in respect of its entire receipts.The bench of Rajesh Kumar (Accountant Member) has observed that the ICC is not carrying on any activity of holding meetings, seminars, and conferences for business purposes but only to support its main object, and it charges its participants, members, and non-members the amount of the fee, which does not even cover the...

ITAT Deletes Addition Of Unexplained Investment In Stock Valuation Difference

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition of unexplained investment in stock as a difference in the valuation of stock.The bench of Mahavir Singh (Vice President) and Manjunatha. G. (Accountant Member) has observed that the assessee has declared additional income towards excess stock found during the course of the survey, and the assessee has explained the source for excess stock found during the course of the survey, i.e., that it was out of income...

Taxpayer Not Provided Opportunity To Object To Retrospective Cancellation Of GST Registration: Delhi High Court Directs Restoration

The Delhi High Court has held that taxpayers are not provided an opportunity to object to the retrospective cancellation of GST registration.The bench of Justice Sanjeev Sachdeva and Justice Ravinder Dudeja has restored the GST registration of the petitioner to its original number.The petitioner/assessee has challenged the show cause notice requiring the petitioner to show cause as to why the GST registration of the petitioner was not cancelled. The petitioner was aggrieved by the order by which...

Defect Notice Caused No Prejudice Since Last 30 Years, Assessee Clearly Understood Purport Of Notice: Bombay High Court

The Bombay High Court has held that even assuming that there was a defect in the notice, it had caused no prejudice to the assessee, and the assessee “clearly understood” what the purport and import of the notice were under Section 274 read with Section 271 of the Income-tax Act, 1961. The principles of natural justice cannot be read in abstract form.The bench of Justice G. S. Kulkarni and Justice Jitendra Jain has observed that the assessee at no earlier point in time had raised a plea that, on...

Information Found In Pen Drive/Laptop Of Employees Can't Be Considered As Credible Evidence Without Corroborative Evidence: ITAT

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the information found in the pen drive or laptop of employees cannot be considered credible evidence unless it has been corroborated with any other evidence.The bench of Pavan Kumar Gadale (Judicial Member) and B.R. Baskaran (Accountant Member) has rejected the capitation fee addition against the appellant/assessee made on the basis of cash, documents seized from its employees, and statements recorded during the search...