Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Tax Updates - TMI e-Newsletters

Home e-Newsletters Index Year 2023 November Day 17 - Friday

TMI e-Newsletters FAQ
You need to Subscribe a package.

Newsletter: Where Service Meets Reader Approval.

TMI Tax Updates - e-Newsletter
November 17, 2023

Case Laws in this Newsletter:

GST Income Tax Customs Corporate Laws Insolvency & Bankruptcy Service Tax Central Excise CST, VAT & Sales Tax Indian Laws



Highlights / Catch Notes

    GST

  • Cancellation of petitioner’s GST registration - non-filing of returns for a continuous period of six months - The decision to cancel the GST registration with retrospective date cannot be sustained. - it is considered apposite to direct that the cancellation of the petitioner’s GST shall take effect from 28.11.2019 and not from 01.07.2017. - HC

  • Cancellation of petitioner’s GST registration - Once the petitioner’s GST registration was restored – which was cancelled on an allegation that it was obtained by fraud, misstatement or suppression of facts – it is not open for the respondent to again cancel the petitioner’s GST registration for the same reason unless it is premised on the ground that had occurred after the petitioner’s GST registration has been cancelled on 30.09.2021. - HC

  • Income Tax

  • Validity of the reassessment proceedings - Nature of receipt as arbitration award - The Tribunal interestingly holds that it is judicially settled that the amount should be considered as special income and it must be considered in its wider sense. The Tribunal failed to appreciate that a receipt on capital account cannot be assessed as income unless it was specifically brought within the scope of the definition of the term “income” in Section 2(24) - HC

  • Reassessment notices issued to a non-existing entity - Amalgamation - The fact that PAN was not deactivated would not help the Revenue because there could be cases relating to various years when the company was in existence and it is possible those PAN numbers are picked up for scrutiny or for issuance of refund. That in our view, will not be a sanction for Department to issue notices to a non-existing entity, particularly, when they were aware that the entity was not in existence. - HC

  • Assessment u/s 153A r.w.s. u/s 143(3) - Search and seizure proceedings - admissibility of primary and secondary evidence - Reliance on the statement of employees - In view of the violation of the principles of natural justice and also due to the non compliance of Section 65(B) of the Indian Evidence Act, this Court feels that it is a fit case for setting aside the assessment orders. - HC

  • Reassessment proceedings against dead person - Though the present case was initiated subsequent to the death of the assessee, it was initiated in the name of the dead person and the assessment order was also passed in the name of a dead person, though his legal representative had participated in the proceedings. - Department is supposed to have substituted the legal representative in the place of a dead person. - Order quashed - HC

  • Reopening of assessment u/s 147 - addition u/s 50C - assessee has sold two immovable properties in equal co-ownership with one person - nature of land sold - AO found that the village Morti/Morta is only 2.5-03 kilometers from the outer limit of the Ghaziabad Municipal Corporation. - Therefore, we do not give much importance to the contents of the certificate (issued by GNN) which is far from truth. - AT

  • TDS u/s 194C - payments made to Eco Development Committee (EDCs) and Van Suraksha and Prabandhan Samiti (VFPMC) - The work was executed through participation of people and government as per notification framed by the State Government as per National Forest Policy (1988) of the Central Government. - The payments made to these Van Samitis are not contract payments and provisions of section 194C thus do not apply. - AT

  • Deduction u/s 80IA - Fresh claim in the return of income filed pursuant to notice u/s 153A - Once the assessment proceedings have attained finality, then the additions can only be made in the hands of the assessee based on the incriminating material unearthed during the search. The Assessing Officer has no reason to entertain any fresh claim, which was not raised in the original return of income. - AT

  • Profits on sale of Flats - disallowance in respect of additional cost of construction of Tower - We see no infirmity in the cost of construction claimed by the assessee for the year under consideration at Rs. 3438/- per sq.ft. which is below the average rate communicated by GPL and the final rate agreed with GPL. - AT

  • Customs

  • Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver - Notification

  • Seeking provisional release of the goods - Ethanol Alcohol - The classification has to be seen at the time of import by the Petitioner and not the use to which it is put by the buyers of the goods from the Petitioner. There is no condition in the Customs Tariff under chapter 98 which imposes such an obligations on the Petitioner - the Respondents are not justified in refusing to release the goods provisionally. - HC

  • Rejection of the benefit of Preferential Trade Agreement - It is understood that the invoices were split into two for the convenience of the quantity of the goods exported and for issuing the Country of Origin Certificate respectively. These discrepancies do not have any bearing to the benefit under the Preferential Trade Agreement. - The order rejecting the benefit of concessional rate of duty as per the Preferential Trade Agreement is not justified. - AT

  • DGFT

  • One time exemption from ‘Prohibition’ is granted to Patanjali Ayurved Limited for export of 20 MT of Non-basmati white rice (Semi-milled or wholly milled rice, whether or not polished or glazed: Other) as donation to Nepal for earthquake victims.

  • Corporate Law

  • Refusal of registration of shares of the Respondents - ambit of Section 111A of Companies Act - sufficient cause for refusal to register shares or not - The Respondents have filed multiple complaints against the Appellant company to various statutory authorities - the allegation of the Appellant company is that the Respondents seek to cause hurdles in the way of bona-fide corporate decisions taken by the Appellant Company. The Respondents have chosen not to appear before this Court to rebut the allegation of the Appellant. - Refusal of registration of shares are bonafide - HC

  • IBC

  • Initiation of CIRP - NCLT rejected the Section 7 Application - There being no material brought on the record to indicate that the amount of Rs.2.6 Crore was advanced by the Appellant in pursuance of any offer of private placement invited by the company. - When the amount advanced cannot be related to Section 42, the applicability of Section 42(6) cannot be pressed - AT

  • SEBI

  • Most Important Terms and Conditions (MITC) - uniform documents for formalizing the broker-client relationship - Circular

  • Service Tax

  • Levy of service tax - Import of services - Palace of Provision Services (PPS) - Reverse Charge - For making available that data to the Appellant, it is being done from outside India and therefore the activities of licensing of the acquired data are carried out from outside India. Thus, applying Rule 3 (ii) of the Service Import Rules, service tax will not be applicable on these services. - AT

  • Classification of services - Merely by resorting to what they felt and what they were recovering as ‘Terminal storage charges’ would not make this Appellant also a warehouse keeper. The scope of the service has to be determined in terms of express wordings of that classification in Finance Act & Rules, and not in terms of nomenclature used for collecting the revenue for the services provided to the service recipients - AT

  • Central Excise

  • Activity amounting to manufacture or not - activity of packing of rechargeable batteries along with chargers and labelling the same - Neither under Section XVI nor under Chapter 85 there are any notes deeming activity of packing or repacking as amounting to manufacture. - They are the job workers who have undertaken the activity of packing and labelling. - Demand set aside - AT


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • GST

  • 2023 (11) TMI 552
  • 2023 (11) TMI 551
  • 2023 (11) TMI 550
  • 2023 (11) TMI 549
  • 2023 (11) TMI 548
  • Income Tax

  • 2023 (11) TMI 547
  • 2023 (11) TMI 546
  • 2023 (11) TMI 545
  • 2023 (11) TMI 544
  • 2023 (11) TMI 543
  • 2023 (11) TMI 542
  • 2023 (11) TMI 541
  • 2023 (11) TMI 540
  • 2023 (11) TMI 539
  • 2023 (11) TMI 538
  • 2023 (11) TMI 537
  • 2023 (11) TMI 536
  • 2023 (11) TMI 535
  • 2023 (11) TMI 534
  • 2023 (11) TMI 533
  • 2023 (11) TMI 532
  • Customs

  • 2023 (11) TMI 531
  • 2023 (11) TMI 530
  • Corporate Laws

  • 2023 (11) TMI 529
  • Insolvency & Bankruptcy

  • 2023 (11) TMI 528
  • 2023 (11) TMI 527
  • Service Tax

  • 2023 (11) TMI 526
  • 2023 (11) TMI 525
  • 2023 (11) TMI 524
  • Central Excise

  • 2023 (11) TMI 523
  • 2023 (11) TMI 522
  • 2023 (11) TMI 521
  • 2023 (11) TMI 520
  • CST, VAT & Sales Tax

  • 2023 (11) TMI 519
  • Indian Laws

  • 2023 (11) TMI 518
 

Quick Updates:Latest Updates