CESTAT Allows Interest On Custom Duty Refund From Deposit Date To Refund Date

The Delhi Bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has allowed the 12% interest on custom duty refund from the deposit date to the refund date.The bench of Anil Choudhary (Judicial Member) has observed that the amount of deposit made during investigation or audit becomes pre-deposit ipso facto upon contest of the dispute or filing of the appeal, and the assessee is entitled to interest as per law from the date of deposit till the date of refund. The ...

GST Dept. Made Attachment Without Recording Opinion And Referring To Any Tangible Material: Allahabad High Court Imposes Cost

The Allahabad High Court has held that the department has neither recorded the opinion nor referred to any tangible material which necessitated him to pass the provisional attachment order to protect the interest of the government revenue.The division bench of Justice Surya Prakash Kesarwani and Justice Jayant Banerji has directed the department to pay the cost of Rs. 50,000 to the petitioner/assessee. The petitioner is the proprietor of M/s S G Plastic Industries, engaged in the...

CBIC Prescribes New Procedure For Disposal Of Gold

The Central Board of Indirect Taxes and Customs (CBIC) has prescribed the new procedure for the disposal of gold.As per the new rules, the seized/confiscated gold (other than ornaments/jewellery/articles) shall be transferred to the Reserve Bank of India (RBI) through Security Printing and Minting Corporation of India Ltd. (SPMCIL). The implementation of the new procedure was by and large satisfactory, but certain issues were brought to the notice of the CBIC. Firstly, the issue...

Cancellation Of GST Registration Ultimately Impacts Recovery Of Taxes: Calcutta High Court

The Calcutta High Court has held that if the registration of a dealer is cancelled, the dealer cannot carry on its business in the sense that no invoice can be raised by the dealer. This would ultimately impact the recovery of taxes.The division bench of Justice T.S. Sivagnanam and Justice Prasenjit Biswas has held that the suspension of the appellant's registration should be revoked forthwith with a direction to the appropriate authority to issue a show cause notice within a time frame...

ITAT Allows Deduction On Residential House Built Up On 3 Adjacent Contiguous Plots

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has allowed the claim of a deduction under section 54 of the Act for a residential house built on three adjacent contiguous plots. The principle of multiple residential houses/units holds good till the units are in the same physical location and contiguous to each other.The two-member bench of Astha Chandra (Judicial Member) and Shamim Yahya (Accountant Member) has observed that the assessee sold his house in Delhi, which was...

Transporter Of Goods May Seek Release Of Only The Conveyance: Madras High Court

The Madras High Court has held that the transporter may seek release of only the conveyance upon satisfaction of the statutory conditions.The division bench of Justice Anitha Sumanth has observed that the phrase 'person transporting the goods' in Sections 129(1) and (6) to mean the owner or his agent who has contracted to supply the goods, and not the transporter who will provide the carriage for the same. Both sub-Sections 129(1) and (6) use the phrase 'goods or conveyance' whereas the ...

No GST On Services Of Sweeping, Segregation And Transport Of Garbage: Karnataka AAR

The Karnataka Authority of Advance Ruling (AAR) has ruled that GST is not payable on the services of cleaning and sweeping of lawns and garden path areas and segregating and transporting garbage.The two-member bench of M.P. Ravi Prasad and T. Kiran Reddy has observed that no GST is payable on the supply of manpower for garden maintenance on an outsourced basis to the Department of Horticulture which is liable for GST at NIL. The applicant is engaged in providing manpower services. The...

PCIT Failed To Recorded Satisfaction Under His Signature Prior To Issuance Of Reassessment Notice By AO: Allahabad High Court

The Allahabad High Court has held that the Principal Commissioner of Income Tax (PCIT) has not recorded satisfaction under his signature prior to the issuance of a reassessment notice by the Assessing Officer under Section 148 of the Act, 1961.The division bench of Justice Surya Prakash Kesarwani and Justice Chandra Kumar Rai has observed that subsequent to the issuance of the reassessment notice by the Assessing Officer, the satisfaction under section 151 was digitally signed by the...

Litigation Expenditure Incurred To Protect Business Is Covered Under Revenue Expenditure: ITAT

The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) has held that when litigation expenditure is incurred to protect the business, the same is revenue expenditure.The two-member bench of Sandeep Gosain (Judicial Member) and Rathod Kamlesh Jayantbahi (Accountant Member) has observed that since the assessee has no interest in the ownership of the asset but he is in possession of the asset for conducting its business, the litigation expenditure incurred is only to protect his...

Training Fee Paid To Professional Trainer Doesn't Amounts To Fees for Technical Services, No TDS Deductible: ITAT

The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) has held that TDS is not deductible on training fees paid to professional trainers as it does not amount to fees for technical services.The two-member bench headed by N.V. Vasudevan (Vice-President) and Chandra Poojari (Accountant Member) have observed that the nature of service rendered by the non-resident is neither in the nature of technical, managerial, or consultancy service. The nature of service rendered clearly...

CBIC Issues Guidelines For Filing/Revising TRAN-1/TRAN-2

The Central Board of Indirect Taxes and Customs (CBIC) has issued the guidelines for filing/revising TRAN-1/TRAN-2.The CBIC has issued the guidelines in terms of the order passed by the Supreme Court in the case of Union of India vs. Filco Trade Centre Pvt. Ltd. The Supreme Court directed the Goods and Service Tax Network (GSTN) to open a common portal for filing concerned forms for availing Transitional Credit through TRAN-1 and TRAN-2 for two months from 01.09.2022 to 31.10.2022. The...

DGFT Prohibits The Export Of Broken Rice

TheDirectorate General of Foreign Trade (DGFT)has issued the notification by amending the Export Policy of Broken Rice from "free" to "prohibited" from September 9th, 2022.The Central Government, empowered under the Foreign Trade (Development & Regulation) Act, 1992, read with Foreign Trade Policy, 2015-20, amended the Export Policy of broken rice against ITC (HS) code 1006 40 00 of Chapter 10 of Schedule 2 of the ITC (HS) Export Policy. The provisions under Para 1.05 of the Foreign ...