Tax
Bombay High Court Declares Notices And Proceedings Under Income Tax Act For Deceased Assessee As Null And Void
While emphasizing that if the concerned officers followed the settled law and refrained from issuing null and void notices, it would be beneficial not only for the citizens but also for the already overburdened courts in the country, the Bombay High Court ruled that all notices and consequential proceedings under the Income Tax Act in the name of a deceased assessee were null and void. The Division Bench of Justice Dhiraj Singh Thakur and Justice Kamal Khata observed, “In our view, if...
No Separate GST Registration Required For Each Type Of Business Services Carried From The Same Place Of Business: West Bengal AAR
The West Bengal Authority of Advance Ruling (AAR) has held that no separate registration is required for each type of business, i.e., manufacturing, reselling, or providing services carried on from the same place of business.The bench of Sarthak Saxena and Joyjit Banik has observed that, as per the proviso to Section 25(2) of the GST Act, separate registration in a State may be granted to a person who has multiple places of business in that State.The applicant is a registered person under the...
Central Excise Commissioner Can Direct The Deputy Commissioner To Appeal Before The Commissioner (Appeals): CESTAT
The Kolkata Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the Central Excise Commissioner can direct the Deputy Commissioner to appeal before the Commissioner (Appeals).The bench of Ashok Jindal (Judicial Member) and K. Anpazhakan (Technical Member) has observed that the Deputy Commissioner has rightly filed the appeal before the Commissioner (Appeals) in terms of Section 35E(2) of the Central Excise Act, 1944.The appellant/assessee is a manufacturer of...
GST Payable On Services Of Loading And Unloading Of Imported Unprocessed “Toor” And “Whole Pulses” And “Black Matpe”: West Bengal AAR
The West Bengal Authority of Advance Ruling (AAR) has held that GST is payable on services of loading and unloading of imported unprocessed "toor" "whole pulses" and "black matpe".The bench of Sarthak Saxena and Joyjit Banik has observed that any services supplied for loading and unloading as supplied by the applicant after the goods left the primary market do not qualify for GST exemption.The applicant is in the business of stevedoring and cargo handling in the Kolkata Dock Complex and is...
Payment Made For Acquiring Membership In A Social Club Can’t Be Allowed As Business Expenditure: ITAT
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has observed that payments made for acquiring membership in a social club could not be allowed as business expenditure when there was no evidence to prove that membership in the social club was acquired for entertaining customers by the assessee.The bench of Vikas Awasthy (Judicial Member) and Om Prakash Kant (Accountant Member) has upheld the adjustment under Section 143(1) of an individual's Club Membership Fees as capital...
Gujarat High Court Directs To Release Seized Gold As Outstanding Demand Against Assessee
The Gujarat High Court has directed the department to release the 100.350 grams of seized gold as the assessee had no outstanding demand.The bench of Justice Vipul M. Pancholi and Justice Devan M. Desai has observed that the gold in question belongs to the petitioner, and he has accounted for it in his books of accounts. Therefore, the respondent or department ought not to have withheld the gold in question.The search and seizure were carried out in respect of Sureshkumar from Jay Mata Di Air...
Subsidy Received By Nestle India As Incentive To Establish Industrial Unit Is Capital Receipt: Delhi High Court
The Delhi High Court observed that the Subsidy received by Nestle India, the assessee as incentive to establish industrial unit is Capital receipt and cannot be adjusted against block of assets. “Since the subsidy in this case was not intended as a payment to meet, directly or indirectly, a part of the cost of the assets, no adjustment could have been ordered, as was directed by CIT(A). The Tribunal, on this score, in our view, reached the correct conclusion” the division bench of...
Centre Issues Notification to bring GSTN under Prevention Of Money Laundering Act To Plug Tax Evasion
The Central Government on Saturday issued a notification to bring the Goods and Services Tax Network (GSTN) under the Prevention of Money Laundering Act (PMLA) with the aim to plug tax evasion through fake billing. With the implementation of the said order, the information stored on the GST Network can now be shared under the PMLA Act and it will give more power to the Enforcement Directorate and the anti-money laundering agency to act against tax evasion within GSTN. "In the...
Tax Cases Weekly Round-Up: 2 July To 8 July, 2023
Supreme Court CTO For Enhanced Production Capacity Issued After SC’s Order Fixing Total Import Limit; Importer Not Entitled To Proportionate Increase In Import Quota: Supreme Court Case Title: M/s Sanvira Industries vs Rain CII Carbon (Vizag) Ltd. & Ors Citation : 2023 LiveLaw (SC) 497 The Supreme Court has upheld the decision of the Delhi High Court which set aside the increased quota allocated for import of raw pet-coke (RPC) based on the “Consent to Operate” ...
No Material Available To Conclude Income Had Escaped Assessment:Bombay HC Quashes Income Tax Notice
The Bombay High Court has provided relief to the Maharashtra State Power Generation Company Limited by quashing the notice issued by the Assistant Commissioner of Income Tax under Section 148 of the Income Tax Act. The court observed a lack of tangible material to support the conclusion that income had escaped assessment, thereby prohibiting any further steps by the tax authorities regarding the notice. The Division Bench comprising Justice Dhiraj Singh Thakur and Justice Kamal Khata...
MSMED Act Would Not Be Applicable To CA Firms Appointed As ‘Special Auditors’ Under Section 142(2A) Of The Income Tax Act, 1961: Delhi High Court
The Delhi High Court has held that the provisions of MSMED Act, 2006 would not apply to a CA firm appointed as ‘Special Auditor’ under Section 142(2A) of the Income Tax Act (IT Act), 1961. The bench of Justice Prathiba M. Singh held that MSMED Act no applicability in cases of CA firms appointed under Section 142(2A) of the IT Act for the purpose of carrying out special audit as there is no relationship of buyer and seller between the parties. Moreover, the assignment under Section...
GST Not Payable On Out-Of-Court Settlement: AAR
The Telangana Authority of Advance Ruling (AAR) has ruled that GST is not payable on the out-of-court settlement.The bench of S.V. Kasi Visweswara Rao and Sahil Inamdar has observed that there is no GST on the interest of 13% per annum awarded by the Tribunal for Arbitration Award as the principal supply itself is not taxable.The applicant is taking up Thermal Projects in various cities in India. During the financial year 2013-2014, the applicant company was allotted Erection and...