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Home e-Newsletters Index Year 2015 December Day 16 - Wednesday

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TMI Tax Updates - e-Newsletter
December 16, 2015

Case Laws in this Newsletter:

Income Tax Customs Service Tax Central Excise CST, VAT & Sales Tax Indian Laws



TMI SMS


Highlights / Catch Notes

    Income Tax

  • Provisions of section 115JB were applicable and that the amendment was prospective in nature. The Tribunal could not have ta ken a different view after relying upon the judgment in the case of State Bank of Hyderabad Vs. DCIT - HC

  • Valuation of stock - Section 145A cannot be applied in a piecemeal and ad-hoc manner to a few handful chosen and selected transactions as is done by the revenue in the instant case which will lead to distortion of income chargeable to tax which is not permissible under the Act. - AT

  • MAT - Computation of book profits u/s 115JB - AO sought to tax under MAT an amount being remission of liability of Bank - once this amount has been disclosed in the P&L A/c prepared strictly as per provisions of Schedule VI of the Companies Act, the same cannot be excluded for the purpose of computing book profits u/s 115JB - AT

  • Bogus Purchases - assessee had purchased the goods in the months of May and June, 2008. However, the payments have been made from September, 2009 onwards, i.e., after expiry of about one and half years - assessee has failed to establish the genuineness of purchases - AT

  • TDS u/s 194 - transporters have transported the goods of seller / supplier - assessee makes the payment to GTA, got reimbursed the amount and no expenses booked against such payment - No obligation to deduct TDS u/s 194C because the transporters have not acted on behalf of the assessee - AT

  • Customs

  • Whether once the export obligation is discharged the conditions of customs Notification No. 48/99 are no more relevant - Diversion of goods - discrepancy establishes a case of violation of import condition for which the respondent was not entitled to any relief - AT

  • Valuation of goods - Enhancement in value of goods - Assessee paid enhanced value since he wanted goods urgently - Since in this case the appellant has not challenged the assessment order, consequently refund claim is not maintainable - AT

  • Valuation - determination of CVD - Section 4 or 4A - MRP Based method of assessment - before final assessment of Bills of Entry, they should have raised the question of proper valuation for assessment of CVD. Since they have not done so, the extended period cannot be invoked - AT

  • Denial of refund claim - SAD - Unjust enrichment - The balance sheet shows the amount of 4% SAD as receivable under the asset category. Under the circumstances, it cannot be said that the 4% SAD has been passed on to the consumer. The bar of unjust enrichment will not be applicable - AT

  • There is no dispute that the appellants were heard by one Commissioner and the adjudication order was passed by another Commissioner, which is clear violation of principles of natural justice and hence the impugned order cannot be sustained on this ground alone. - AT

  • Imposition of penalty on a person treating as Importer - There is no evidence on record that appellant has signed the bills of entry and has given all the documents personally to the Customs House agent or any other person. Penalty can not be imposed upon the appellant on the basis of suspicion created by presumption & surmises by holding him to be the importer. - AT

  • Indian Laws

  • The head notes of the defendant made are almost similar to that of the plaintiff - They are directed to remove the existing infringing material from its website www.casansaar.com, which may amount to infringement of plaintiff’s copyright as claimed. - HC

  • Service Tax

  • Availment of CENVAT credit of service tax - scope of eligible input services - Rule 2(l) - outdoor catering service and insurance service -It is well settled that the legislative intent cannot be defeated by adopting an interpretation which is clearly against such intent - credit not allowed - AT

  • Demand of service tax - pure agent - outdoor catering - The contract between the two parties does not provide that appellant will act as a pure agent. In fact, there is clear finding of the lower authorities that appellant received not only the wages but additional margin for the wages and further a lump sum amount for acting as a contractor have been made. In such circumstances, we cannot say that appellant has acted as a pure agent. - AT

  • So long as an assessee is not undertaking manufacture of dutiable and exempted goods or providing taxable and exempted services, unless the credit is exclusively used for providing exempted services or manufactured goods credit cannot be denied in respect of services listed in Rule 6(5). - AT

  • Residential complex was constructed by the appellants and handed over to the implementing agency of the Rajiv Gruhakalpa Scheme which in turn sold the apartments to the beneficiaries. Therefore, prima facie, it has to be held that appellants have rendered construction of residential complex service - AT

  • Central Excise

  • Manufacture - marketability - process of cold-rolling of stainless steel patta/pattis - whether cold-rolled pattas are distinct marketable commodities - held yes - SC

  • Clandestine removal of goods - The fact of clandestine removal of goods had not been proved. Mere quoting the statements of the proprietors and some of their employees was not enough. The value of clandestinely removed goods had not been adjudged. - no Demand - HC

  • Denial of CENVAT Credit - credit on the xerox copy of the bill of entry - the original bill of entry is with the Customs authorities and they have refused to return the same to the appellant. In such situation, the appellant is not at fault for not producing the same. - AT

  • Demand of education cess - the Paper Cess levied by other than the Ministry of Finance (Department of Revenue), and therefore, demand of Education Cess on Paper Cess cannot be sustained - AT

  • If the cumulative credit in respect of all the duties is to the extent of ₹ 100 and if an asseessee has paid ₹ 120/- at the time of clearance of such inputs, it can be safely concluded that the entire credit stands reversed by him. There cannot be any further requirement of reversal of SAD component separately. - AT

  • Denial of Adjustment of excess payment paid against the short payment paid at the provisional assessment - the adjustment of excess duty paid by the appellant against short duty on finalisation of the provisional assessment is permissible. - AT


TMI Short Notes


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • Income Tax

  • 2015 (12) TMI 776
  • 2015 (12) TMI 775
  • 2015 (12) TMI 774
  • 2015 (12) TMI 773
  • 2015 (12) TMI 772
  • 2015 (12) TMI 771
  • 2015 (12) TMI 770
  • 2015 (12) TMI 769
  • 2015 (12) TMI 768
  • 2015 (12) TMI 767
  • 2015 (12) TMI 766
  • 2015 (12) TMI 765
  • 2015 (12) TMI 764
  • 2015 (12) TMI 763
  • 2015 (12) TMI 762
  • 2015 (12) TMI 761
  • 2015 (12) TMI 760
  • 2015 (12) TMI 759
  • 2015 (12) TMI 758
  • 2015 (12) TMI 757
  • 2015 (12) TMI 756
  • 2015 (12) TMI 755
  • Customs

  • 2015 (12) TMI 742
  • 2015 (12) TMI 729
  • 2015 (12) TMI 728
  • 2015 (12) TMI 727
  • 2015 (12) TMI 726
  • 2015 (12) TMI 725
  • 2015 (12) TMI 724
  • 2015 (12) TMI 723
  • 2015 (12) TMI 722
  • 2015 (12) TMI 721
  • 2015 (12) TMI 720
  • 2015 (12) TMI 719
  • 2015 (12) TMI 718
  • 2015 (12) TMI 717
  • Service Tax

  • 2015 (12) TMI 754
  • 2015 (12) TMI 753
  • 2015 (12) TMI 752
  • 2015 (12) TMI 751
  • 2015 (12) TMI 750
  • 2015 (12) TMI 749
  • 2015 (12) TMI 748
  • 2015 (12) TMI 747
  • 2015 (12) TMI 746
  • 2015 (12) TMI 745
  • 2015 (12) TMI 744
  • Central Excise

  • 2015 (12) TMI 743
  • 2015 (12) TMI 741
  • 2015 (12) TMI 740
  • 2015 (12) TMI 739
  • 2015 (12) TMI 738
  • 2015 (12) TMI 737
  • 2015 (12) TMI 736
  • 2015 (12) TMI 735
  • 2015 (12) TMI 734
  • 2015 (12) TMI 733
  • 2015 (12) TMI 732
  • 2015 (12) TMI 731
  • 2015 (12) TMI 730
  • CST, VAT & Sales Tax

  • 2015 (12) TMI 716
  • 2015 (12) TMI 715
  • 2015 (12) TMI 714
  • 2015 (12) TMI 713
  • 2015 (12) TMI 712
  • Indian Laws

  • 2015 (12) TMI 711
  • 2015 (12) TMI 710
  • 2015 (12) TMI 709
 

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