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Home e-Newsletters Index Year 2019 November Day 15 - Friday

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TMI Tax Updates - e-Newsletter
November 15, 2019

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

    GST

  • Presence of Lawyer during examination/interrogation by the GST officers - The petitioner in the present case has been summoned by the Officers under GST Act who are not Police Officers - The presence of the lawyer is not required during the examination of the petitioner.

  • Income Tax

  • Disallowance of damages u/s 37 - only those payments which have been made for infringement of law shall not be allowed as revenue expenditure. Since, the said payment/deduction was not towards any offence or infringement of law therefore the disallowing the same is not tenable on part of the AO.

  • Penalty u/s 271AAB - whether it is mandatory or discretionary - income surrender on account of advance for land - When there is no acquisition of land then in the absence of the corresponding asset acquired by the assessee the mere noting of the advance which is out flow of the funds cannot be held as undisclosed income.

  • Allowing deduction not claimed by the assessee in its return of income u/s.54B - the Income Tax laws are welfare in nature and the very purpose of welfare legislation is that there should not be any cohesive action by the quasi-judicial Authority. It is the duty of the quasi-judicial authority, the AO or the Ld. CIT(A) to guide the assessee to enable him to get benefit whether or not claimed by him for which he is legally eligible.

  • Calculation of the fair market value (FMV) for the land sold by the assessee u/s.55(2)(b) - the rejection by the Revenue Authorities of the registered valuer’s report submitted by the assessee is not justifiable, rather, arbitrary, un-judicious, such action is required to be discarded.

  • TDS u/s 194C - harvesting charges paid to labourers by the assessee on behalf of the cane growers - the payments made by the assessee towards harvesting and transportation charges have to be regarded as payment made for purchase of sugarcane and consequently the provisions of section 194C of the Act do not get attracted.

  • Additions towards bogus purchases without raw material there cannot be any finished products. The assessee has filed stock details before the authorities which show that purchases for the disputed quantity were, in fact, made. - even if we accept the contention of the Revenue that the purchases were bogus, still the entire amount of purchases cannot be added

  • Penalty u/s. 271AAB - 10% OR 30% of undisclosed income - the department having taken the huge amount in their custody, cannot take unjust enrichment of it, when on one hand the department says it is assessees undisclosed income and then, not doing what he [assessee] directs to do with his money and thereafter finding fault with him and penalizing him for their [revenue] own omission cannot be accepted.

  • Deduction u/s 80IB - manufacturing process or not - there was manufacture involved and the process undertaken by the Appellant during the Assessment Year 2002-03 was not restricted to mere testing or trial run. The findings of fact in this regard are amply borne out from the material on record and consequently are not vitiated by any perversity or absurdity.

  • Registration u/s 80G - CIT(E) rejected the application u/s 80G - ITAT allowed the registration - CIT(E) had taken an unduly harsh and pedantic view of the matter and once it is not disputed that the stringent conditions u/s 12AA have been satisfied, the further action can only be taken at the end of the financial year to determine whether any donation etc or other the conditions of Section 80G have or have not been fulfilled.

  • Penalty u/s 271(1)(c) - wrong claim of having received a cash gift from relative - assessee had failed to place on record any documentary evidence which would substantiate the genuineness of the gift transaction - Levy of penalty confirmed.

  • Deduction of depreciation while determining the deduction u/s 80IB - for the purposes of deduction under Chapter VIA, the gross total income has to be computed inter alia by deducting the deductions allowable u/s 30 to 43D, including depreciation allowable u/s 32.

  • Customs

  • Confiscation of the goods already cleared - Import of certain capital goods under EPCG Scheme - The bond executed by the AMW is not for production of goods but for fulfillment of export obligation and to pay duty in case of failure to fulfill export obligation - The goods cannot be confiscated, even if, the same are liable for confiscation.

  • Revocation of CHA License - not obtaining authorization from the importer - not advising his client properly. - Once the Customs Broker has been approached by the employee of the importer and he has verified the necessary documents, then there cannot be any allegation of violations against the CHA

  • Applicability of Consumer Protection Act, 1986 in case of REP License in terms of the import and export policy - Whether Government is a service provider - Held No - The grant of these incentives does not constitute the State as a service provider.

  • IBC

  • Maintainability of application - initiation of CIRP - scope of the term goods or services under the code - The debt arising out of non-payment of lease rent does not fall under the definition of “operational debt” as defined u/s 5(21) of the Code of 2016 (even though it may otherwise be a debt).

  • Service Tax

  • Voluntary Compliance Encouragement Scheme - the substantial benefit should not be disallowed for venial mistake of clerical nature.

  • Condonation of 67 days delay in filing the appeal before the CESTAT by the Revenue - The occasion to adopt a liberal approach in matters of condonation of delay would only arise if some cause is made out for the delay - Therefore, the view taken by the Tribunal in the present facts cannot be said to be perverse

  • Central Excise

  • Reliability of statements - the statement of 2008 of the Production Manager has not resulted in any adverse order on the SCN which culminated immediately thereafter. The present adjudication proceeding is the result of a subsequent SCN as a result of later inspection - The Revenue’s claim, therefore, has no basis on this aspect.


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • GST

  • 2019 (11) TMI 661
  • 2019 (11) TMI 660
  • 2019 (11) TMI 659
  • Income Tax

  • 2019 (11) TMI 657
  • 2019 (11) TMI 656
  • 2019 (11) TMI 655
  • 2019 (11) TMI 654
  • 2019 (11) TMI 653
  • 2019 (11) TMI 652
  • 2019 (11) TMI 651
  • 2019 (11) TMI 650
  • 2019 (11) TMI 649
  • 2019 (11) TMI 648
  • 2019 (11) TMI 647
  • 2019 (11) TMI 646
  • 2019 (11) TMI 645
  • 2019 (11) TMI 644
  • 2019 (11) TMI 643
  • 2019 (11) TMI 642
  • 2019 (11) TMI 641
  • 2019 (11) TMI 640
  • 2019 (11) TMI 639
  • 2019 (11) TMI 638
  • 2019 (11) TMI 637
  • 2019 (11) TMI 636
  • 2019 (11) TMI 635
  • 2019 (11) TMI 634
  • 2019 (11) TMI 633
  • 2019 (11) TMI 632
  • 2019 (11) TMI 631
  • 2019 (11) TMI 630
  • 2019 (11) TMI 629
  • 2019 (11) TMI 628
  • 2019 (11) TMI 627
  • 2019 (11) TMI 606
  • 2019 (11) TMI 605
  • 2019 (11) TMI 604
  • 2019 (11) TMI 603
  • 2019 (11) TMI 602
  • 2019 (11) TMI 601
  • 2019 (11) TMI 600
  • 2019 (11) TMI 599
  • 2019 (11) TMI 598
  • 2019 (11) TMI 597
  • 2019 (11) TMI 596
  • 2019 (11) TMI 595
  • 2019 (11) TMI 594
  • Customs

  • 2019 (11) TMI 626
  • 2019 (11) TMI 625
  • 2019 (11) TMI 624
  • 2019 (11) TMI 623
  • 2019 (11) TMI 622
  • 2019 (11) TMI 621
  • 2019 (11) TMI 608
  • Insolvency & Bankruptcy

  • 2019 (11) TMI 620
  • 2019 (11) TMI 619
  • 2019 (11) TMI 618
  • 2019 (11) TMI 617
  • 2019 (11) TMI 593
  • Service Tax

  • 2019 (11) TMI 616
  • 2019 (11) TMI 615
  • 2019 (11) TMI 614
  • 2019 (11) TMI 613
  • Central Excise

  • 2019 (11) TMI 658
  • 2019 (11) TMI 612
  • 2019 (11) TMI 611
  • 2019 (11) TMI 610
  • CST, VAT & Sales Tax

  • 2019 (11) TMI 609
  • Indian Laws

  • 2019 (11) TMI 607
 

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