AO Not Justified In Disallowing Part Of The Commission Payment To Indian Hume Pipe: Bombay High Court

The Bombay High Court has held that the Assessing Officer (AO) was not justified in disallowing part of the commission payment to Indian Hume Pipe.The bench of Justice G.S. Kulkarni and Justice Jitendra Jain has observed that the mere fact that the assessee, Indian Hume Pipe, establishes the existence of an agreement between him and his agent and the fact of actual payment leaves it to the discretion of an officer to consider whether such expenditure was made exclusively for the purpose of the...

Payment Of Interest On Cash Loan Falls Within The Ambit Of Unexplained Expenditure: Calcutta High Court

The Calcutta High Court has held that the payment of interest on a cash loan falls within the ambit of unexplained expenditure within the meaning of Section 69C of the Income Tax Act.The bench of Chief Justice T.S. Sivagnanam and Justice Hiranmay Bhattacharyya has observed that it cannot be stated that the order passed under clause (d) of Section 148 is a non-speaking order, nor can the order be branded as the outcome of non-application of mind.The appellant/assessee filed a writ petition...

CBDT Notifies Corrigendum To Include Leased Or Rented House For Valuing Rent-Free Accommodation Perquisite Provided By Employers

The Central Board of Direct Taxes (CBDT) has notified the corrigendum to Notification No. 65/2023 dated August 18, 2023, that notified amendments to the Income Tax Rules for valuing perquisites of rent-free or concessional accommodation by employers to employees.The corrigendum sought to insert the words “or taken on lease or rent” after the words “Provided also that where the accommodation is owned” and before the words “by the employer and the same accommodation is”.Top management...

GSTN Notifies Advisory On GST Registration Application Marked For Biometric-Based Aadhaar Authentication

The Goods and Service Tax Network (GSTN) has notified the advisory for applicants where a GST registration application is marked for Biometric-based Aadhaar Authentication.Rule 8 of CGST Rules has been amended to provide that those applicants who had opted for authentication of their Aadhaar number and identified on the common portal, based on data analysis and risk parameters, shall be placed for biometric-based Aadhaar authentication and taking photographs of the applicant.Pilot implementation...

No Assessment U/S 153A In Absence Of Incriminating Material Unearthed During The Course Of Search: Patna High Court

The Patna High Court has held that completed assessments can be interfered with by the Assessing Officer while making the assessment under Section 153A only on the basis of some incriminating material unearthed during the course of the search.The bench of Chief Justice K. Vinod Chandran and Justice Partha Sarthy has upheld the Tribunal’s Order and observed that the Tribunal was perfectly within the statutory framework in making a remand directing the Assessing Officer to carry out a...

Section 67(2) Of The GST Act Does Not Empower Seizure Of Currency Available In Premises During Search: Delhi High Court

The Delhi High Court has held that Section 67(2) of the GST Act does not empower the seizure of currency available on premises during a search.The bench of Justice Vibhu Bakhru and Justice Purushaindra Kumar Kaurav has directed the department to remit the amount seized to the petitioner’s bank account within a period of two weeks, along with accrued interest.The petitioner sought the direction be issued to the respondent/department to release Indian currency amounting to Rs.15,92,000, which was...

Jharkhand High Court Quashes Proceedings U/S 276B Against The Petitioner Who Failed To Deposit The TDS Amount

The Jharkhand High Court has quashed the criminal proceedings against a petitioner who had been facing charges under Sections 276B and 278B of the Income Tax Act, 1961. The petitioner's firm had allegedly failed to deposit the Tax Deducted at Source (TDS) amount with the Income Tax Department in accordance with the provisions of the Income Tax Act.The petitioner had filed a plea seeking the quashing of the criminal proceedings, contending that his firm had been unaware of the TDS requirement for...

DPIIT Notifies Quality Control Order For Cast Iron Products, Solar DC Cables, And Fire Survival Cables

The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, has introduced a comprehensive Quality Control OrderQuality Control Order(QCO) for 'Cast Iron Products,' slated to take effect six months from today, following the date of the notification.The newly instituted Cast Iron Products (Quality Control) Order, 2023 encompasses a spectrum of standards associated with diverse cast iron products, ranging from manhole covers and cast iron pipes to...

Himachal Pradesh High Court Quashes Revision Petition Against Nokia On Differential Tax Amount On Sale Of Mobile Charger

The Himachal Pradesh High Court has quashed the revision petition filed by the Department against Nokia on the differential tax amount on the sale of mobile chargers.The bench of Justice Tarlok Singh Chauhan and Justice Satyen Vaidya has observed that the clear mandate of law is that the Court can exercise revisional jurisdiction under Section 48 of the Act only against the orders passed by the Tax Tribunal either under Section 45(2) or Section 46(3) of the VAT Act. Revisional jurisdiction can...

Licence Fee Received By Cricket Australia For Live And Non-Live Transmissions Rights Can’t Be Taxed As Royalty: ITAT

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that Cricket Australia is not liable to pay ‘royalty’ on licence fees received for live and non-live transmission rights.The bench of Kul Bharat (Judicial Member) and M. Balaganesh (Accountant Member) has relied on the decision of the Co-ordinate Bench of the Tribunal in the case of Fox Network Group Singapore Pte. Ltd. vs. ACIT, in which it was held that there is no copyright on live events, and therefore, it is not taxable as...

CBIC Extends Due Dates For Filing Returns For Taxpayers In Manipur

The Central Board of Indirect Taxes and Customs (CBIC) has extended the due dates for filing various returns for taxpayers in Manipur.The Board has extended the due dates for filing GSTR-1, GSTR-3B, and GSTR-7 for the period of April, May, June and July 2023 for taxpayers whose principal place of business is in the State of Manipur, till August 25, 2023.Form GSTR-1 is a monthly/quarterly Statement of Outward Supplies to be furnished by all normal and casual registered taxpayers making outward...

Income Tax Act | Annulled Penalty Order Implies Absence Of Concealment, S.276C Proceedings Automatically Quashed: Jharkhand High Court

The Jharkhand High Court has recently held that when a penalty order is set aside, it implies the absence of concealment of income, leading to the automatic quashing of criminal proceedings under Section 276C(1) of the Income Tax Act.Justice Sanjay Kumar Dwivedi added that quashing the penalty order undermines the foundational basis for the criminal case, as criminal intent was deemed absent due to the annulment of the penalty proceedings."... the Court comes to the conclusion that once...