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Home e-Newsletters Index Year 2019 March Day 13 - Wednesday

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TMI Tax Updates - e-Newsletter
March 13, 2019

Case Laws in this Newsletter:

GST Income Tax Corporate Laws FEMA Service Tax Central Excise CST, VAT & Sales Tax Indian Laws



TMI SMS


Articles


News


Notifications


Circulars / Instructions / Orders


Highlights / Catch Notes

    GST

  • Detention - seizure - penalty - applicability of 129 - action can be taken not only against the goods, but also against the transporter. The non-obstante clause in Section 129 indicate that neither Section 126, nor the general provision of penalty under Section 125, or Section 122 would apply in cases where Section 129 is attracted.

  • Classification of supply - Accounting, Sales Invoicing, Purchase Invoicing, Cash receipt posting, Bank Payment entries, other receipt entries, Credit Control work, Support Assignment work; Payroll assistance, storing and scanning of data to the data storage disk and any other work - Cannot be held as Intermediary services - Benefit of Zero Rated Supply (export of services) available.

  • Maintainability of advance ruling application - applicant is recipient of services and he has not a paying the taxes under reverse charge mechanism on the impugned transaction in GST ACT - the application is not maintainable and liable for rejection.

  • Income Tax

  • TDS u/s 194C OR 194J - payment to the pest control agency - such a payment was not for any technical services provided by the agency.

  • Accrual of income in India - Provision of the software solutions for onward distribution to third party customers in India - since the appropriate ‘arm’s length principle’ has been satisfied in the present case, nothing more would be left to be taxable in India by attributing any further income to the PE of the assessee in India

  • Disallowance u/s. 37(1) - expenses incurred for purchase of gift items - assessee has failed to even disclose the identity of the recipient of gifts either during the assessment proceedings or during the appellate proceedings - additions confirmed.

  • Assessment u/s 153A - AO made addition on the ground that the assessee is having multiple PPF accounts and whereas, the assessee can claim benefit of deduction in respect of only one such PPF account - The addition has been made by the AO merely on change of opinion, hence deleted.

  • TDS u/s 194C or 194J - the contractor was meant to carry out maintenance and the repair work and therefore his services could not have been categorized as providing technical services.

  • Assessment u/s 153A - addition u/s 68 - Mere non production of share holder companies director is argued to be no valid reason for making addition u/s 68 of the Act dehors voluminous evidences filed which has not been objectively and lawfully controverted in manner known to law.

  • Addition u/s 69A - unexplained money deposited in the bank account - The stand of the assessee is that visa agent on behalf of the assessee’s son has arranged this amount is concerned, it can be a corroborative circumstances, but should be supported with evidence. - Additions confirmed.

  • Bogus purchases - The assessee has only produced certain self-serving evidences in a straight-jacket formula normally collected in this type of transaction - Additions confirmed.

  • Exemption u/s 11(1)(a) - the advance or investment in the said lease hold property by the Assessee's Charitable Trust in the year in question could be held to be 'application of income' within the meaning of Section 11(1)(a) of the Act and therefore, the Assessee was entitled to the exemption

  • Cancellation u/s 12AA - Charitable activity or not - The execution of the work awarded by the Railways, is not a public utility service carried on by the assessee and the mere fact that the poor are employed in such execution of contract awarded, would not make it a charitable purpose.

  • Settlement Commission Order - invalidation of application for settlement u/s 245D(2C) with retrospective effect - it acted wholly without jurisdiction.

  • Reopening of assessment u/s 147 - Assessing Officer acted on the satisfaction of the Deputy Collector of Income Tax (Investigation) - AO would have to examine the information received in the context of the facts on record. - Thus, hit by the proviso to section 147

  • Capital gain - liability to pay tax - The liability, if any, to pay the tax is on the partnership firm in view of Section 45(4) of the Act. Besides, the duration of a person being a partner in the firm does not decide the applicability of Section 45(4) of the Act, as it is not so provided therein

  • Suppressed production or not - loss of material - The assessee had itself produced voluminous evidence. This is not a case where the Assessing Officer had caught the assessee by surprise. There may be minor discrepancy or inaccurate recording of non-essential facts by the CIT(A) and the Tribunal. However, the same would not vitiate the very order or shake the foundation of their orders.

  • Customs

  • Scheme for Rebate of State and Central Taxes and Levies on export of garments and made-ups (RoSCTL)

  • DGFT

  • Discontinuation of physical copy of Advanced/EPCG Authorisation — Procurement from SEZs

  • Corporate Law

  • Clarification on filing of e-form RD-1 -Conversion of public company into private company and change in a Financial Year

  • Extension of Tenure of High Level Committee on Corporate Social Responsibility - 2018

  • Rule 48 of the NCLAT Rules clearly stipulates service of notice on the other side, pursuant to issuance of notice by the NCLAT in the appeal, regardless of supply of advance copy of appeal paperbook prior to the issuance of notice by NCLAT. 9. Further, Rule 52 of the NCLAT Rules categorically states that the judicial section of the registry of the NCLAT shall record, in the “Notes of the Registry” column in the order sheet, the details regarding completion of service of notice on the respondents

  • State GST

  • Applicability of GST on various programmes conducted by the Indian Institutes of Managements (IIMs)

  • Applicability of GST on Asian Development Bank (ADB) and International Finance Corporation (IFC).

  • Clarification on issue of classification of service of printing of pictures covered under 998386.

  • Clarification on GST rate applicable on supply of food and beverage services by educational institution.

  • GST on Services of Business Facilitator (BF) or a Business Correspondent(BC) to Banking Company.

  • Goods and Services Tax, 2017 - Claims of GST Refunds –Disbursement of sanctioned amounts- Request of the CCST for issuing certain instructions to the Treasury .

  • Indian Laws

  • Central Government appoints the 08th day of March, 2019, as the date on which the provisions of Part VI, Part X and Part XI of Chapter VII of the Finance Act 2018 shall come into force

  • SEBI

  • Securities Contracts (Regulation) (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) (Amendment) Rules, 2019

  • Depositories (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) (Amendment) Rules, 2019

  • Securities and Exchange Board of India (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Amendment Rules, 2019

  • Central Excise

  • Method of Valuation - Job work - The adoption of this price for determining the duty liability in the hands of the principal manufacturer is not in any way prejudicial to Revenue and, therefore, cannot be a cause of grievance to the tax authorities.

  • Clandestine removal - Gutkha - The entire case of the Revenue is based on uncorroborated, untested, unexamined and in some case retracted statement which do not inspire confidence in the same - Demand set aside.


Case Laws:

  • GST

  • 2019 (3) TMI 596
  • 2019 (3) TMI 595
  • 2019 (3) TMI 594
  • 2019 (3) TMI 593
  • 2019 (3) TMI 592
  • Income Tax

  • 2019 (3) TMI 597
  • 2019 (3) TMI 590
  • 2019 (3) TMI 589
  • 2019 (3) TMI 588
  • 2019 (3) TMI 587
  • 2019 (3) TMI 586
  • 2019 (3) TMI 585
  • 2019 (3) TMI 584
  • 2019 (3) TMI 583
  • 2019 (3) TMI 582
  • 2019 (3) TMI 581
  • 2019 (3) TMI 580
  • 2019 (3) TMI 579
  • 2019 (3) TMI 578
  • 2019 (3) TMI 577
  • 2019 (3) TMI 576
  • 2019 (3) TMI 575
  • 2019 (3) TMI 574
  • 2019 (3) TMI 573
  • 2019 (3) TMI 572
  • 2019 (3) TMI 571
  • 2019 (3) TMI 570
  • 2019 (3) TMI 569
  • 2019 (3) TMI 568
  • 2019 (3) TMI 567
  • 2019 (3) TMI 566
  • 2019 (3) TMI 565
  • 2019 (3) TMI 564
  • 2019 (3) TMI 563
  • 2019 (3) TMI 562
  • 2019 (3) TMI 561
  • 2019 (3) TMI 560
  • 2019 (3) TMI 559
  • 2019 (3) TMI 558
  • 2019 (3) TMI 557
  • 2019 (3) TMI 556
  • 2019 (3) TMI 555
  • 2019 (3) TMI 554
  • 2019 (3) TMI 553
  • 2019 (3) TMI 552
  • 2019 (3) TMI 551
  • 2019 (3) TMI 543
  • Corporate Laws

  • 2019 (3) TMI 591
  • FEMA

  • 2019 (3) TMI 550
  • Service Tax

  • 2019 (3) TMI 549
  • Central Excise

  • 2019 (3) TMI 548
  • 2019 (3) TMI 547
  • CST, VAT & Sales Tax

  • 2019 (3) TMI 546
  • 2019 (3) TMI 545
  • Indian Laws

  • 2019 (3) TMI 544
 

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