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Home e-Newsletters Index Year 2018 February Day 16 - Friday

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TMI Tax Updates - e-Newsletter
February 16, 2018

Case Laws in this Newsletter:

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



TMI SMS


Highlights / Catch Notes

    Income Tax

  • Determination of residential status - the assessee has to prove through cogent evidences such as passport to prove her stay outside India for stipulated period as per conditions stipulated u/s 6 of the 1961 Act. - AT

  • Once the Assessing Officer has taken the step of initiating penalty under section 271AAA of the Act in respect of additional income offered consequent to search, then the Assessing Officer or any of the authorities below are precluded by provisions of the Act itself to initiate any action for levy of penalty under section 271(1)(c) of the Act. - AT

  • Validity of reopening of assessment - addition u/s 69C - bogus purchases - M/s. JPK Trading Pvt. Ltd had never sold any goods and were only issuing bogus sales invoices and charged commission. Thus AO was justified in reopening the case of the appellant for the year under consideration u/s 147 of the Act - AT

  • Income accrued in India - Referral fees - considering that the referral activity was undertaken outside India and assessee’s Mumbai branch (PE) had no role to play in the performance of the referral activity, the referral fee of ₹ 18,27,90,578/- earned by CSDB could not be construed to be attributable to assessee’s PE in India - No Tax liability in India - AT

  • TDS u/s 195 - payment made to non-residents towards the services rendered by them - non deduction of tds - the non-resident commission agents had rendered services outside India and they were not having P E in India - No TDS liability - AT

  • Penalty u/s 271(1)(c) - merely for the reason that the said expenditure was claimed as a revenue expenditure would not justify imposition of penalty under Sec. 271(1)(c), for the reason that the same was held by the A.O to be in the nature as that of a capital expenditure - AT

  • Customs

  • Classification of the imported goods - Insoluble Sulphur - presence of 20% oil as found during testing of the sample of the imported goods - classification of the goods ordered under CTH 2503 0010 - AT

  • Indian Laws

  • Appeal against Chartered Accountants Final Examination result - Merely because the alleged notification contains the term "published for general information" cannot lead to the conclusion that the said notification was actually published especially in view of the categoric statement by the respondent-institute that the said alleged notification was never published in any manner - HC

  • IBC

  • Corporate insolvency procedure - guarantee has not been invoked - guarantor cannot be deemed to be a defaulter, therefore, his case is not covered under clauses (c) and (h) of section 29A of the amended I.B. Code. Disqualifying the entire class of guarantors under clause (h) of section 29A would be discriminatory. - Tri

  • Service Tax

  • Refund claim - time limit - In respect of export of services, the relevant date for purposes of deciding the time limit for consideration of refund claims under Rule 5 of the CCR may be taken as the end of the quarter in which the FIRC is received, in cases where the refund claims are filed on a quarterly basis. - AT

  • Valuation - includibility - the inclusion of costs and expenditures in the gross taxable value by making provision in the Rules is repugnant to Section 66 and 77 of the Finance Act and to that extent is ultra vires. - AT

  • Banking and Financial Service - admittedly there is no transfer of the ownership of the goods at the end of lease, the same does not fall in the category of financial lease and falls in the category of operating lease - demand not sustainable - AT

  • Refund of unutilized CENVAT credit - at the time of availment of cenvat credit it was not disputed by the Revenue that these services are not ‘input services’. In the circumstances, at the time of claiming the refund claim, cenvat credit cannot be denied - AT

  • Central Excise

  • SSI exemption - calculation of aggregate value - various food preparations made and sold by the appellants in their kitchen/restaurants are generally covered by the Chapters 16 to 20 will not meet the legal requirement of applying the provisions of Notification 8/2003. - AT

  • CENVAT credit - Education cess and Higher education cess paid on CVD - If the 3rd education cess is considered as a levy on total excise duty, the obvious conclusion would be that the credit also admissible - the credit availed on the education cess paid for the third time by the appellants on the CVD portion is eligible. - AT

  • Classification of goods - PVC/ HDPE Pipes, HDPE Sprinkler - these pipes which were manufactured and cleared by them are intended for irrigational purpose in agriculture/ horticulture - the classification of the product under Chapter 39 is not sustainable - AT

  • CENVAT credit - marine insurance service - insurance for directors and supervisory officers arising in day-to-day functioning - credit allowed - AT

  • CENVAT credit - demerger - the transferor will be allowed to transfer the Cenvat credit lying unutilized to the transferee company - AT

  • CENVAT credit - utilization of ‘security service’ for the hostel maintained at their factory at a remote location - In order to run the factories smoothly, without any stoppages, they had constructed township/residential colonies near factory premises and accommodated the employees working in such factories - CENVAT credit is maintainable - AT


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • GST

  • 2018 (2) TMI 983
  • Income Tax

  • 2018 (2) TMI 982
  • 2018 (2) TMI 981
  • 2018 (2) TMI 980
  • 2018 (2) TMI 979
  • 2018 (2) TMI 978
  • 2018 (2) TMI 977
  • 2018 (2) TMI 976
  • 2018 (2) TMI 975
  • 2018 (2) TMI 974
  • 2018 (2) TMI 973
  • 2018 (2) TMI 972
  • 2018 (2) TMI 971
  • 2018 (2) TMI 970
  • 2018 (2) TMI 969
  • 2018 (2) TMI 968
  • 2018 (2) TMI 967
  • 2018 (2) TMI 966
  • 2018 (2) TMI 965
  • 2018 (2) TMI 964
  • 2018 (2) TMI 963
  • 2018 (2) TMI 962
  • Customs

  • 2018 (2) TMI 961
  • 2018 (2) TMI 960
  • 2018 (2) TMI 959
  • 2018 (2) TMI 958
  • 2018 (2) TMI 957
  • 2018 (2) TMI 956
  • 2018 (2) TMI 955
  • 2018 (2) TMI 954
  • 2018 (2) TMI 953
  • 2018 (2) TMI 952
  • 2018 (2) TMI 951
  • 2018 (2) TMI 949
  • 2018 (2) TMI 948
  • Insolvency & Bankruptcy

  • 2018 (2) TMI 986
  • 2018 (2) TMI 985
  • 2018 (2) TMI 984
  • Service Tax

  • 2018 (2) TMI 950
  • 2018 (2) TMI 946
  • 2018 (2) TMI 945
  • 2018 (2) TMI 944
  • 2018 (2) TMI 943
  • 2018 (2) TMI 942
  • 2018 (2) TMI 941
  • 2018 (2) TMI 940
  • 2018 (2) TMI 939
  • 2018 (2) TMI 938
  • 2018 (2) TMI 937
  • 2018 (2) TMI 936
  • 2018 (2) TMI 935
  • 2018 (2) TMI 934
  • 2018 (2) TMI 933
  • 2018 (2) TMI 932
  • 2018 (2) TMI 931
  • 2018 (2) TMI 930
  • 2018 (2) TMI 929
  • 2018 (2) TMI 928
  • 2018 (2) TMI 927
  • 2018 (2) TMI 926
  • 2018 (2) TMI 925
  • 2018 (2) TMI 924
  • 2018 (2) TMI 923
  • 2018 (2) TMI 922
  • Central Excise

  • 2018 (2) TMI 921
  • 2018 (2) TMI 920
  • 2018 (2) TMI 919
  • 2018 (2) TMI 918
  • 2018 (2) TMI 917
  • 2018 (2) TMI 916
  • 2018 (2) TMI 915
  • 2018 (2) TMI 914
  • 2018 (2) TMI 913
  • 2018 (2) TMI 912
  • 2018 (2) TMI 911
  • 2018 (2) TMI 910
  • 2018 (2) TMI 909
  • 2018 (2) TMI 908
  • 2018 (2) TMI 907
  • 2018 (2) TMI 906
  • 2018 (2) TMI 905
  • 2018 (2) TMI 904
  • 2018 (2) TMI 903
  • 2018 (2) TMI 902
  • 2018 (2) TMI 901
  • 2018 (2) TMI 900
  • 2018 (2) TMI 899
  • 2018 (2) TMI 898
  • 2018 (2) TMI 897
  • 2018 (2) TMI 896
  • 2018 (2) TMI 895
  • 2018 (2) TMI 894
  • 2018 (2) TMI 893
  • 2018 (2) TMI 892
  • 2018 (2) TMI 891
  • 2018 (2) TMI 890
  • 2018 (2) TMI 889
  • 2018 (2) TMI 888
  • 2018 (2) TMI 887
  • CST, VAT & Sales Tax

  • 2018 (2) TMI 886
  • Indian Laws

  • 2018 (2) TMI 947
 

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