No Justification For Not Adjudicating The Notice For More Than 13 Years After Its Issuance: Delhi High Court

The Delhi High Court has held that there is no justification for not adjudicating the notice for more than thirteen years after its issuance.The bench of Justice Vibhu Bakhru and Justice Amit Mahajan has observed that the larger public interest requires that the Revenue Department and its officials adjudicate the show cause notice expeditiously and within a reasonable time. The petitioner/assessee is a partnership firm engaged in the business of executing civil construction works. The petitioner...

CBIC Waives Interest On Customs Duty Payable By Importers And Exporters Through ECL Till April 13, 2023

The Central Board of Indirect Taxes and Customs (CBIC) has extended the interest waiver on customs duty payable by importers and exporters through the Electronic Cash Ledger (ECL) till April 13, 2023.The Board has notified the Customs (Waiver of Interest) Third Order, 2023.The waiver contained in the order shall take effect if the three conditions are fulfilled.Firstly, the duty and interest have been paid within 3 days (including holidays) from the date of the removal of such system inability...

Service Tax Under RCM Not Payable By Company If Personal Property Rented Out By The Directors To The Company: CESTAT

The Delhi Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that service tax under the Reverse Charge Mechanism (RCM) is not payable by the company if personal property is rented out by the directors to the company.The bench of Justice Dilip Gupta (President) and P. V. Subba Rao (Technical Member) has noted that the Commissioner (Appeals) assumed that the directors were providing the service of renting immovable property as directors of the appellant, whereas...

Transfer Pricing | High Courts Not Precluded From Scrutinising ITAT’s Determination Of Arm’s Length Price : Supreme Court

The Supreme Court has ruled that the High Court is not precluded from considering the determination of the arm’s length price determined by the Income Tax Appellate Tribunal (ITAT), in exercise of its powers under Section 260A of the Income Tax Act, 1961.Dismissing the proposition that in every case where the Tribunal determines the arm’s length price, the same shall attain finality, the bench of Justices M.R. Shah and M.M. Sundresh remarked that there cannot be any absolute proposition of law...

Value Of Bought Out Items Supplied Along With Manufactured Goods Cannot Be Included In Assessable Value Of Manufactured Goods: CESTAT

The Ahmedabad Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the value of bought-out items supplied along with manufactured goods cannot be included in the assessable value of the manufactured goods.The bench of Ramesh Nair (Judicial Member) and C.L. Mahar (Technical Member) has observed that the manufacture of lattice masts is an independent manufacturing activity for which, except for the material used in making lattice masts, no further bought-out...

Service Tax Exemption On Handling Of Agriculture Produce By A Cargo Handling Agency: CESTAT

The Ahmedabad Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that service tax is exempted from the handling of agricultural produce by a cargo handling agency.The bench of Ramesh Nair (Judicial Member) and C.L. Mahar (Technical Member) has noted that as per Notification No. 10/2002-Service Tax dated. 01.08.2002, the government exempts the taxable service provided to any person by a cargo handling agency in relation to agricultural produce or goods intended to...

Adjustment Of Difference In Depreciation To The Profits Eligible For Income Tax Exemption: ITAT

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that adjustment of the difference in depreciation to the profits makes them eligible for income tax exemption.The bench of Amit Shukla (Judicial Member) and Padmavathy S. (Accountant Member) has observed that the adjustment of the difference in depreciation to the profits eligible for exemption under Section 10A will not result in any addition to total income. This is so because any increase or decrease to the profit due to...

Assessment Order Issued Without DIN, Invalid; S. 292B Of ITA Not Applicable: Delhi High Court

The Delhi High Court has upheld the order of the Income Tax Appellate Tribunal (ITAT) where it had set aside the assessment order issued by the Income Tax Department without quoting the Document Identification Number (DIN). The court remarked that in view of the CBDT Circular no. 19/2019, dated 14.08.2019, all assessments, appeals, orders, which find mention in paragraph 2 of the 2019 Circular, issued without a DIN, can have no standing in law. The bench of Justices Rajiv Shakdher...

Once Additions Made Under Black Money Act The Same Addition Cannot Be Made Under Income Tax Act: ITAT

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that once additions have been made under the Black Money Act, the same additions cannot be made under the Income Tax Act on the same set of facts.The bench of C.N. Prasad (Judicial Member) and N.K. Billaiya (Accountant Member) has upheld the order of the CIT(A), in which it was held that the addition so made by the AO amounts to double addition and, therefore, it should be deleted.A search and seizure operation was carried out...

DGFT Lays Down Procedure For Applying For Amnesty Scheme For One-Time Settlement Of Default In Export Obligation

The Director General of Foreign Trade (DGFT) has laid down the procedure for applying for the amnesty scheme for one-time settlement of default in export obligations by Advance and Export Promotion Capital Goods (EPCG) authorization holders.The application for AA/EPCG discharge or closure shall be filed online by logging onto the DGFT website.The applicant shall select the checkbox for ‘Amnesty Scheme for One-Time Settlement of Default in Export Obligation' and proceed to file an...

Chhattisgarh High Court Allows Reimbursement Of Additional Tax Liability On Companies Involved In Construction In Pre-GST Regime

The Chhattisgarh High Court has allowed the reimbursement of additional tax liabilities on companies involved in construction in the pre-GST regime.The bench of Justice Rajani Dubey has directed that the petitioners shall make a fresh claim before the respondent authorities, agitating their grievance, and upon the claim being made, the respondent authorities shall proceed ahead with the necessary scrutiny and inquiry, and if the petitioners are found entitled to be reimbursed for the additional...

Constitutional Validity Of GST On Lease/Rent Payments: SLP In Supreme Court To Be Heard After The Disposal Of The Matter Already Pending Before The Constitution Bench Of 9 Judges

Constitutional Validity GST Lease Rent Payments SLP Supreme Court Pending Constitution Bench 9 Judges