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Home e-Newsletters Index Year 2019 October Day 12 - Saturday

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TMI Tax Updates - e-Newsletter
October 12, 2019

Case Laws in this Newsletter:

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



Highlights / Catch Notes

    Income Tax

  • Refund orders with interest - Whatever the technical difficulties in releasing the refund, the department must sort it out. If for some reason of technical glitch the system in the present case fails to permit the payment of refund, the concerned authorized officer must manually do so.

  • Employee’s contribution towards GPF, CPF and ESI deposited by the assessee on or before the due date of filing the return u/s 139, though beyond the due dates as given under the respective Acts, cannot be disallowed u/s 43B or 36(1)(va).

  • Legality of the assessment order passed by the AO without providing the draft of the proposed order of an assessment - the issuance of a show-cause notice cannot be equated and treated as a draft assessment order as the same would make the provisions of section 144C redundant.

  • Deemed dividend addition u/s.2(22)(e) - advances given to sister concern without interest - Transactions were purely out of trading transactions between the two concerns the assessee and the sister concern are entered into in the ordinary business operations and therefore does not fall within the ambit of section 2(22)(e)

  • Customs

  • Smuggling - Gold Jewellery - Proof of purchase of gold submitted first time during the appellate proceedings only - There is no explanation forthcoming as to why, if, in fact, the gold had been purchased by the appellant within India, the aforesaid invoices were not available with the respondent till the stage of appeal - Decided in favor of revenue.

  • Exemption from CVD - Misdeclaration of imported goods - SCN issued within one year from the date of filing of Bill of Entry, is definitely within the normal period of limitation and demand made therein cannot be held to be hit by limitation under Section 28 of the Customs Act, 1962.

  • Corporate Law

  • Director who does not possess DIN would not be legally entitled to participate in the proceedings of the meeting of Board of Directors. Consequently, a resolution passed by a Board of Directors of which no Director possesses a DIN would be no resolution in the eyes of law, therefore, any proceedings instituted by the company pursuant to such a Board resolution would be a nullity in the eyes of law.

  • Indian Laws

  • Dishonor of Cheque - Non-existence of bank account - The aspect of the closure of the bank account of the petitioner prior to the issuance of the cheque, is a matter which cannot be determined without trial.


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • GST

  • 2019 (10) TMI 405
  • 2019 (10) TMI 404
  • 2019 (10) TMI 403
  • Income Tax

  • 2019 (10) TMI 402
  • 2019 (10) TMI 401
  • 2019 (10) TMI 400
  • 2019 (10) TMI 399
  • 2019 (10) TMI 398
  • 2019 (10) TMI 397
  • 2019 (10) TMI 396
  • 2019 (10) TMI 395
  • 2019 (10) TMI 394
  • 2019 (10) TMI 393
  • 2019 (10) TMI 392
  • 2019 (10) TMI 391
  • 2019 (10) TMI 390
  • 2019 (10) TMI 389
  • 2019 (10) TMI 388
  • 2019 (10) TMI 387
  • 2019 (10) TMI 386
  • 2019 (10) TMI 385
  • 2019 (10) TMI 384
  • 2019 (10) TMI 383
  • Customs

  • 2019 (10) TMI 382
  • 2019 (10) TMI 381
  • 2019 (10) TMI 380
  • 2019 (10) TMI 379
  • Corporate Laws

  • 2019 (10) TMI 378
  • 2019 (10) TMI 377
  • Insolvency & Bankruptcy

  • 2019 (10) TMI 376
  • 2019 (10) TMI 375
  • 2019 (10) TMI 374
  • 2019 (10) TMI 373
  • 2019 (10) TMI 372
  • PMLA

  • 2019 (10) TMI 371
  • Service Tax

  • 2019 (10) TMI 370
  • Central Excise

  • 2019 (10) TMI 369
  • 2019 (10) TMI 368
  • 2019 (10) TMI 367
  • 2019 (10) TMI 366
  • CST, VAT & Sales Tax

  • 2019 (10) TMI 365
  • 2019 (10) TMI 364
  • 2019 (10) TMI 363
  • Indian Laws

  • 2019 (10) TMI 362
  • 2019 (10) TMI 361
 

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