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Home e-Newsletters Index Year 2019 December Day 17 - Tuesday

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TMI Tax Updates - e-Newsletter
December 17, 2019

Case Laws in this Newsletter:

GST Income Tax Customs Corporate Laws Service Tax Central Excise CST, VAT & Sales Tax Wealth tax Indian Laws



Highlights / Catch Notes

    GST

  • Profiteering - packaged foods - The mathematical methodology applied in the case where the rate of tax has been reduced and ITC disallowed cannot be applied in the case where the rate of tax has been reduced and ITC allowed - The profiteered amount determined - Respondent directed to reduce his prices and/or deposit the amount as determined in the CWF.

  • Profiteering - packaged foods - Jurisdiction of NATIONAL ANTI-PROFITEERING AUTHORITY (NAPA) - the above power has both legislative sanction as well as incorporation in the CGST Act, 2017 and the CGST Rules, 2017. The delegation provided to this Authority under the above Section and Rule is clear, precise, unambiguous and necessary and is well within the provisions of the Constitution and therefore, it has been rightly conferred on this Authority. Hence, the objections raised by the Respondent in this regard are frivolous and without legal force.

  • Income Tax

  • Revised return - withdrawing the claim of TDS credit and reduction in corresponding professional income - Since the assessee is accounting his professional (actor) income on cash basis, the entire receipt including TDS has to be assessed in the respective assessment year. Therefore, the addition made in assessment year 2009-10 and 2014-15 are in accordance with law.

  • Deduction u/s 54F - dis-allowance on the ground that the construction of house was not completed within the stipulated period - once the assessee has produced the evidence in support of his claim of construction of new residential house and house was actually constructed as existed at the plot of land, then the claim of the assessee cannot be denied on mere suspicion or doubt.

  • Revised return u/s 139(5) rejected - Revision in the sales figure - in a case assessee files the revised return then it is to be taken into consideration for the purpose of making an assessment and the original return cannot be adverted.

  • Disallowance of cost of construction cost of improvement of property while computing the Long Term Capital Gain - since it is a case of construction of boundary wall, therefore, the non-mentioning of the same in the sale deed will not ipso fact lead to the conclusion that boundary wall was not in existence on the plot of land.

  • Non deduction of TDS on such lease rental payment and interest to the Noida Authority - assessee-in-default - if such tax and interest are not paid by the NOIDA, the assessee cannot be exonerated from the liability u/s 201(1) and 201(1A).

  • Deduction u/s 80IC - allocation of the cartage expenses and diesel and oil expenses among two units - determination of the eligible profit - CIT(A) has rightly allocated the expenses and depreciation between the Badddi unit and the Noida unit.

  • TDS u/s 194H - Arrangements between the assessee and the stockiest for sale of goods is in the nature of principal to principal basis, but not in the nature of principal to agent and accordingly, amount paid by the assesee to stockists is not in the nature of commission, which is liable for TDS u/s 194H.

  • Penalty levied u/s 271B - delay in furnishing audit report - bonafide belief - Delay in furnishing audit report has resulted only in technical venial breach which does not cause any loss to exchequer could be applied here also. - levy of penalty deleted.

  • Customs

  • Refund - Benefit of N/N. 515/86-Cus. - Requirement of issuance of Essentiality certificates issued by the Oil Industry Development Board - the assessment made in the Bills of Entries was not appealed against by the appellant and also the said assessment had not been modified or altered by the assessing authority. - Refund claim rejected.

  • Corporate Law

  • Winding up petition - Jurisdiction of High Court - This Court possesses the jurisdiction to hear out the winding up petition being CP 1 of 2016 along with all connected applications. However, the winding up petition and the connected applications thereto should not be proceeded with till NCLT comes to the conclusion as to whether the resolution plan in respect of the said company is either approved or rejected.

  • Indian Laws

  • Territorial jurisdiction - the place where the cause of action having arisen - since the agreement was executed at Faridabad, part of the cause of action would arise at Faridabad, clothing Faridabad courts with jurisdiction for the purposes of filing a Section 34 petition. The second part of the reasoning is that Faridabad is the place where the request for reference to arbitration was received, as a result of which part of the cause of action arose in Faridabad, which ousts the jurisdiction of Courts of New Delhi, in which no part of the cause of action arose.

  • Wealth-tax

  • Wealth tax assessment - Notice itself has been issued beyond the time prescribed u/s 16(2) of the Wealth Tax Act. Thus, according to us the provision of section 42 does not apply to a situation where the notice has not been issued within the time limit prescribed as per the act.

  • Service Tax

  • Extended period of limitation - Except mentioning in the show cause notice that there has been suppression of facts, no positive act committed by the appellant has been put forth by the revenue to allege suppression of facts in the impugned cases. The detection is subsequent to the audit - SCN was not required to be issued.

  • Extended period of limitation - It is not understood as to under what authority the Excise Officials had travelled beyond the period of 18 months to find out, if any Service Tax was due when they found no evidence of fraud, collusion, wilful misstatement, suppression of fact or contravention of the provision of the Finance Act or Rule within the statutorily prescribed 18 months

  • Central Excise

  • CENVAT Credit - stock transfer - the appellant shifted inputs and certain capital goods from Unit-II to Unit-I - The appellant has paid the duty voluntarily in terms of Section 11A(2B) of the Central Excise Act on being pointed out by the Preventive Officers and took the credit of the same in Unit-I in terms of Rule 3 of the CCR - The demand is not sustainable on merit as well as on limitation

  • Clandestine removal - excess usage of raw material Sponge Iron, than mentioned - the entire demand is based on mere average yield of production and no concrete evidence to manufacture the alleged goods has been brought on the record by the department - charges of clandestine removal cannot be based on series of assumptions and presumptions.


Articles


Notifications


News


Case Laws:

  • GST

  • 2019 (12) TMI 588
  • Income Tax

  • 2019 (12) TMI 628
  • 2019 (12) TMI 627
  • 2019 (12) TMI 624
  • 2019 (12) TMI 619
  • 2019 (12) TMI 618
  • 2019 (12) TMI 617
  • 2019 (12) TMI 613
  • 2019 (12) TMI 612
  • 2019 (12) TMI 611
  • 2019 (12) TMI 610
  • 2019 (12) TMI 609
  • 2019 (12) TMI 608
  • 2019 (12) TMI 607
  • 2019 (12) TMI 605
  • 2019 (12) TMI 602
  • 2019 (12) TMI 601
  • 2019 (12) TMI 600
  • 2019 (12) TMI 599
  • 2019 (12) TMI 598
  • 2019 (12) TMI 597
  • 2019 (12) TMI 596
  • 2019 (12) TMI 595
  • 2019 (12) TMI 594
  • 2019 (12) TMI 593
  • 2019 (12) TMI 592
  • 2019 (12) TMI 591
  • 2019 (12) TMI 589
  • Customs

  • 2019 (12) TMI 615
  • Corporate Laws

  • 2019 (12) TMI 625
  • Service Tax

  • 2019 (12) TMI 621
  • 2019 (12) TMI 590
  • Central Excise

  • 2019 (12) TMI 620
  • 2019 (12) TMI 616
  • 2019 (12) TMI 614
  • 2019 (12) TMI 606
  • 2019 (12) TMI 604
  • 2019 (12) TMI 587
  • CST, VAT & Sales Tax

  • 2019 (12) TMI 623
  • 2019 (12) TMI 622
  • Wealth tax

  • 2019 (12) TMI 603
  • Indian Laws

  • 2019 (12) TMI 626
 

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