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2021 (1) TMI 76 - ITAT MUMBAI The Tribunal partly allowed the appeal, determining that payments for IDC services, management services, and referral fees were not taxable as royalty or FTS under the India-Singapore DTAA. The issues concerning short grant of TDS and interest under Section 244A were remanded to the AO for verification and appropriate action. The question of education cess was left open for future consideration.
Goods and GST Bill passed The discussion on the Goods and Services Tax (GST) Bill highlights its passage in the Rajya Sabha on August 3, 2016, and the subsequent debates and updates regarding its implementation. The GST aims to create a unified tax system by subsuming various indirect taxes. Key issues include the determination of tax rates, with a proposed revenue-neutral rate of 15-15.5% and a standard rate of 17-18%. The GST Council, led by the central finance minister and state finance ministers, is tasked with finalizing these rates. The discourse also covers the challenges of increased compliance, the need for IT infrastructure, and the impact on different sectors. The rollout target was initially set for April 1, 2017, but was later adjusted to July 1, 2017, to allow for smoother transition and preparation.
The Department of Disinvestment and Expenditure under India's Ministry of Finance reported significant achievements in fiscal year 2015-16, including a record disinvestment receipt of Rs. 24,349 crore in 2014-15 and raising Rs. 12,700 crore in the first half of 2015-16. The department adopted a rolling plan approach to enhance flexibility and efficiency in disinvestment processes. Additionally, the Finance Commission increased states' share in Union taxes to 42%, enhancing fiscal autonomy. The Seventh Pay Commission recommended pay increases, impacting the fiscal budget. Efforts to streamline pension processes and improve financial management systems were also highlighted, contributing to improved governance and efficiency.
2012 (2) TMI 534 - ITAT MUMBAI The appeals filed by the revenue were dismissed, upholding the CIT(A)'s order. The payments made by the assessee to Rackspace Inc., USA were deemed for services, not for equipment use, did not qualify as 'Fees for included Services,' and were not taxable in India due to the absence of a Permanent Establishment. As a result, the assessee was not required to deduct tax at source on these payments.
2024 (11) TMI 1115 - MADHYA PRADESH HIGH COURT The court determined that the assessment proceedings against the amalgamated entity were void due to lack of jurisdiction, as the entity ceased to exist following amalgamation. The impugned order dated March 21, 2022, and all related proceedings were annulled. The court allowed the petition without imposing costs, emphasizing that tax authorities must respect procedural fairness and natural justice principles. The judgment affirms that assessment orders cannot be issued against non-existent entities post-amalgamation.
2019 (5) TMI 622 - ITAT DELHI The Tribunal partly allowed the appeal, directing the exclusion of certain comparables from the Transfer Pricing analysis and partially allowing ground number 2 while dismissing grounds 1 and 3 as general in nature. The order was pronounced on 06/05/2019.
2012 (2) TMI 599 - ITAT DELHI The Tribunal found that the rejection of the application for renewal of exemption under section 80G of the Income Tax Act was illegal and unsustainable. It concluded that the Trust's activities were charitable, focusing on education and skill development, and that payments made were for legitimate services. The Tribunal directed the DIT(E) to grant approval under section 80G to the Trust, as the rejection was deemed arbitrary. The appeal was partly allowed, and the order was pronounced on 10.02.2012.
2023 (11) TMI 390 - ITAT DELHI The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s findings that payments to Dubai Leading Technologies, Brain Point Consultants, and OIT Managed Services Mauritius were not taxable in India due to the absence of a Permanent Establishment. Consequently, there was no obligation to deduct tax at source under section 195, rendering the disallowances under section 40(a)(i) erroneous.
2023 (3) TMI 778 - ITAT MUMBAI The Revenue's appeal was dismissed due to the tax effect falling below the revised monetary limit as per CBDT Circular no.17/2019. The assessee's appeal was allowed, leading to the deletion of transfer pricing adjustments for Central & Regional Support Services, Software Development and IT Services, Business Support Services, and Investment Advisory Services. The Tribunal directed the AO to delete the adjustments based on well-substantiated services and cost allocation methods.
2023 (1) TMI 1207 - ITAT MUMBAI The Tribunal allowed the appeals for statistical purposes, directing the AO to reassess issues based on its findings. It concluded that TSIS and Management Service Fees are not taxable as royalty or FTS, and instructed the AO to delete related additions. The Tribunal also mandated corrections for TDS credit and interest levies under sections 234A and 234B, remanding these issues for verification and de novo adjudication. The decision emphasized the non-taxability of certain fees under the India-France DTAA, allowing the assessee to benefit from the restrictive definition of FTS under the India-USA DTAA.
2022 (4) TMI 1390 - GUJARAT HIGH COURT The court allowed the writ application, quashed the assessment order, and remitted the matter for denovo proceedings due to the failure to serve a draft assessment order, constituting a violation of natural justice. The respondent was directed to issue a fresh notice cum draft assessment order, providing the writ applicant with an opportunity to respond and seek a hearing. The court emphasized the importance of upholding principles of natural justice and referenced relevant case law to support its decision.
2021 (12) TMI 313 - GUJARAT HIGH COURT The Court quashed the assessment order dated 20.04.2021 under Section 143(3) read with Section 144B of the Income Tax Act, citing violations of natural justice principles and procedural requirements. The Court emphasized the necessity of issuing a Draft Assessment Order and show cause notice, which were not provided in this case. The respondent's argument of alternative remedies was dismissed, and the Court directed a fresh assessment process in compliance with Section 144B, stressing the importance of adhering to statutory procedures and principles of natural justice in faceless assessment regimes.
2021 (8) TMI 927 - ITAT BANGALORE The tribunal held that payments made to Facebook, MailChimp, and AWS by the assessee did not qualify as "royalty" under the Double Taxation Avoidance Agreement (DTAA). Consequently, there was no obligation to deduct tax at source under Section 195, and the assessee was not deemed in default under Section 201(1). The CIT(A)'s decisions were overturned, and the Assessing Officer was instructed to cancel the demand and interest charges for the relevant years. The appeals of the assessee were successful.
2020 (7) TMI 644 - ITAT MUMBAI The ITAT allowed the appeals, deleting additions made by the AO concerning IDC charges, management services fees, and referral fees, which were not taxable as royalty or FTS under the India-Singapore DTAA. The Tribunal directed the AO to grant TDS credit and recompute interest under sections 234A, 234B, and 234C, as the appellant was not liable for advance taxes on the non-taxable revenues. The delay in pronouncement was justified due to COVID-19-related disruptions.
2019 (4) TMI 1245 - ORISSA HIGH COURT The Orissa High Court directed the GST Council to reconsider a petitioner's case involving a typographical error in Form TRAN-1 and subsequent attempts to rectify it. Citing legal precedents from other High Courts, the court acknowledged the error and efforts made by the petitioner. The matter was remitted back to the GST Council for reconsideration in light of the precedents and the extended time for filing corrections, ultimately leading to the disposal of the writ petition.
2016 (11) TMI 1249 - ITAT MUMBAI The Tribunal partly allowed the appeal, ruling that the management service fees were not taxable as "royalty" under the India-Netherlands Treaty. Additionally, the reimbursement of salary was not considered Fees for Technical Services (FTS) and was not taxable. The Tribunal directed the Assessing Officer to apply relevant provisions for set-off of unabsorbed depreciation and business losses. Penalty proceedings were deemed premature and not adjudicated upon.
Year End Review: Highlights of the Achievements of the Department of Revenue, Ministry of Finance The Department of Revenue, Ministry of Finance, reported significant achievements in fiscal 2015, notably a 35.9% increase in indirect tax collections from April to October compared to the previous year. Key initiatives included reducing customs duties on certain inputs to promote domestic manufacturing, enhancing ease of doing business through 24x7 customs clearance, and introducing digital signatures. Measures to protect domestic agriculture involved increasing customs duties on sugar and edible oils. Taxpayer services were enhanced with the establishment of a Directorate of Tax Payer Services and improvements in e-governance. Legislative steps focused on simplifying tax laws and curbing black money.
Master Circular on Foreign Investment in India. The Master Circular on Foreign Investment in India, issued by the Reserve Bank of India, consolidates the regulatory framework and instructions regarding foreign investment under the Foreign Exchange Management Act (FEMA), 1999. It outlines the guidelines for Foreign Direct Investment (FDI), including entry routes, eligibility, types of instruments, pricing, and reporting requirements. The circular also addresses foreign investments under the Portfolio Investment Scheme, venture capital investments, and other foreign investments, detailing the processes for investment in partnership firms or proprietary concerns. This circular is valid for one year and will be updated annually.
2025 (2) TMI 547 - PATNA HIGH COURT The HC upheld the validity of the assessment order dated 03.03.2022, finding that statutory procedures under Section 144B of the Income Tax Act were followed, and the petitioner was given adequate opportunity to respond but failed to do so. The Court noted the availability of an alternative remedy through appeal, which the petitioner had previously utilized for another assessment year. Consequently, the writ application was disposed of, permitting the petitioner to pursue an appeal, with the time spent in writ proceedings considered for condonation of delay.
RECENT DEVELOPMENTS IN GST The Asian Development Bank projects India's economic growth at 7% for FY 2024-25, with the OECD and RBI estimating 6.7% and 7.2% respectively. The CBIC has set dates for implementing GST-related provisions of the Finance (No. 2) Act, 2024, and the GST Appellate Tribunal will handle anti-profiteering cases from April 2025, replacing the Competition Commission of India. The GST Council is deliberating the continuation of the compensation cess beyond March 2026. September 2024 saw a 6.5% year-on-year increase in GST collections, totaling Rs. 1.73 trillion. The GSTN has introduced advisories on invoice management and data archival.
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