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Home e-Newsletters Index Year 2023 August Day 16 - Wednesday

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TMI Tax Updates - e-Newsletter
August 16, 2023

Case Laws in this Newsletter:

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



Highlights / Catch Notes

    GST

  • Jurisdiction - Assistant Excise and Taxation Officer (Enf.) Gurugram was a ‘Proper Officer’ or not - Inter-state supply of goods - In view of the said enabling provisions u/s 20 of the IGST Act, 2017, the provisions of Chapter XIV of GST Act, 2017 which deals with inspection, search, seizure and arrest and power of inspection, search and seizure (Section 67 and 68 of CGST Act, 2017) are applicable to the inter-State supply of goods. - Petition dismissed - HC

  • Rejection of Refund claim of voluntary deposit (during investigation) - recovery of GST from petitioner without serving a show cause notice in accordance with Section 74(1) of GST Act - Refund to be granted with interest @6% - HC

  • Income Tax

  • Validity of reopening of assessment - Reason to believe - Pertinently, the question of going into the veracity and genuineness of material/evidence forming the opinion of the Assessing Officer suggesting that income of petitioner/assessee has escaped assessment ought not to be gone into while exercising writ jurisdiction under Article 226 or supervisory jurisdiction under Article 227 of the Constitution. - Petition dismissed - HC

  • Depreciation on goodwill that was created as a result of amalgamation - The judgment rendered in Smifs [2012 (8) TMI 713 - SUPREME COURT] clearly recognises goodwill to be an intangible asset and on which depreciation can clearly be claimed in terms of Section 32(1) of the Act. - HC

  • Penalty u/s 271(1)(c) - Concealment of income or not? - validity of notice - Tribunal is correct, both with regard to the fact there had been no concealment, as also concerning the view taken by it that the penalty proceedings did not indicate the limb under which the penalty was sought to be levied on the respondent/assessee. - HC

  • Validity of reopening of assessment u/s 147 - reasons for reopening supplied but were not legible and not readable - Assessee was unable to file proper reply- It is not in dispute before me that the reasons said to have been supplied by the Revenue are neither legible nor readable. In the circumstances the reasons said to have been furnished are as good as no reasons furnished at all. - the reassessment order is quashed as bad in law - AT

  • Customs

  • Smuggling - Seeking release of seized currency - Since, the petitioner has suppressed the fact of passing of final order of confiscation which was well within his knowledge and filed this present petition seeking provisional release of the goods, the cost of Rs. 25,000/- is hereby imposed on the petitioner - HC

  • Indian Laws

  • Removal from Office/duty - Bank officer - Scope of public servant - the banking sector being governed by the Reserve Bank of India and considered as a limb of the State under Article 12 of the Constitution and also by virtue of Section 46A of the Banking Regulation Act, 1949, the appellant herein is deemed to be a “public servant’ for the purpose of provisions under the PC Act, 1988. However, the same cannot be extended to the IPC. - the protection available under Section 197 of the CrPC is not available to the appellant herein - SC

  • Dishonour of Cheque - the cheque has been dishonoured due to closure of the bank account, since the very cheque in question is materially altered and had been returned back first time on the grounds of material alteration, the provisions of Section 87 of the Negotiable Instruments Act and the RBI guidelines would apply rendering the cheque void, moreso, when the complaint does not explain as to how the materially altered cheque came into the possession of the complainant. - the complaint is quashed. - HC

  • IBC

  • Initiation of CIRP - pre-existing dispute - the Adjudicating Authority has erred by not considering the various e-mails communication exchanged between the corporate debtor and operational creditor as evidence of a pre-existing dispute, but vide paragraph 11 of the Impugned Order has gone ahead to adjudicate the said dispute on merits even though the Adjudicating Authority was only required to see whether a dispute existing prior to the issue of section 8 Demand Notice. - CIRP closed - AT

  • CIRP - conduct of Resolution Professional (RP/IRP) - the Adjudicating Authority has rightly noted that the Appellant took advantage of the situation and mechanically pulled on with the CIRP process and kept on getting his expenses ratified from time to time by trumping up of the need to adhere to CIRP timelines. - AT

  • Service Tax

  • Denial of ab initio exemption from Service Tax - SEZ unit - the appellant had to construct dormitory where such workers / employees could be accommodated - CSR activities are intricately linked with the appellant’s business and hence, must be regarded as contributing for carrying out authorized operations in the SEZ and consequently, the same are also covered under Section 26(1)(e) of the SEZ Act. - Benefit of exemption allowed - AT

  • Central Excise

  • Classification of goods - any Circular which is beneficial to the assessee should be given effect irrespective to the different correct legal position of classification. Therefore, even though subsequently the Larger Bench has decided the classification under heading 8419 but by virtue of Circular dated 19.05.2010 during the currency of the said Circular the goods is classifiable under heading 8437 and consequently no duty could have been demanded on this very issue. - AT

  • Clandestine Removal - Grey Fabrics - It is also found that on the one hand the Revenue has made demand of central excise duty on goods consumed in the finished goods and on the other hand it is demanding duty on the finished goods which is wrong. Even if there is any duty demand, the same shall be restricted only upon finished goods. - AT

  • VAT

  • Payment of the Local Body Tax (LBT) - Post GST era - The contention that in view of the deletion of the provisions of the LBT by Maharashtra Act No. XLII of 2017, the saving clause would not operate and the entire exercise of assessment as undertaken by the municipal corporation in regard to the LBT being levied by the municipal corporation is without jurisdiction, cannot be accepted - HC


Articles


Circulars / Instructions / Orders


News


Case Laws:

  • GST

  • 2023 (8) TMI 694
  • 2023 (8) TMI 693
  • 2023 (8) TMI 692
  • 2023 (8) TMI 691
  • 2023 (8) TMI 648
  • Income Tax

  • 2023 (8) TMI 690
  • 2023 (8) TMI 689
  • 2023 (8) TMI 688
  • 2023 (8) TMI 687
  • 2023 (8) TMI 686
  • 2023 (8) TMI 685
  • 2023 (8) TMI 684
  • 2023 (8) TMI 683
  • 2023 (8) TMI 682
  • 2023 (8) TMI 681
  • 2023 (8) TMI 680
  • 2023 (8) TMI 679
  • 2023 (8) TMI 678
  • 2023 (8) TMI 677
  • 2023 (8) TMI 676
  • 2023 (8) TMI 675
  • 2023 (8) TMI 674
  • 2023 (8) TMI 673
  • 2023 (8) TMI 672
  • 2023 (8) TMI 671
  • 2023 (8) TMI 670
  • 2023 (8) TMI 669
  • 2023 (8) TMI 668
  • 2023 (8) TMI 667
  • Customs

  • 2023 (8) TMI 666
  • 2023 (8) TMI 665
  • Insolvency & Bankruptcy

  • 2023 (8) TMI 664
  • 2023 (8) TMI 663
  • 2023 (8) TMI 662
  • Service Tax

  • 2023 (8) TMI 661
  • 2023 (8) TMI 660
  • 2023 (8) TMI 659
  • Central Excise

  • 2023 (8) TMI 658
  • 2023 (8) TMI 657
  • 2023 (8) TMI 656
  • 2023 (8) TMI 655
  • 2023 (8) TMI 654
  • 2023 (8) TMI 653
  • CST, VAT & Sales Tax

  • 2023 (8) TMI 652
  • 2023 (8) TMI 651
  • Indian Laws

  • 2023 (8) TMI 650
  • 2023 (8) TMI 649
 

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