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Home e-Newsletters Index Year 2018 March Day 21 - Wednesday

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TMI Tax Updates - e-Newsletter
March 21, 2018

Case Laws in this Newsletter:

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



Articles


News


Notifications


Circulars / Instructions / Orders


Highlights / Catch Notes

    GST

  • Classification of imported goods - GSL ARTEMIA BRINE SHRIMP EGGS - petitioner sought to avail concessional duty (preferential rate of 0% IGST as against 5% IGST) by relying upon Notification No.002/2017-Cus dated 28.06.2017 in Sl.No.33 - petitioner allowed to file an appeal before Commissioner of Customs (Appeals) - HC

  • Income Tax

  • Revision u/s 263 - claim of the assessee under section 80RR - availability of the benefit of DTAA - the reassessment proceedings were initiated for the purpose of working out the deduction under section 80RR of the Income Tax Act and not about the claim of benefit of the DTAA to the assessee - reassessment proceedings sustained - AT

  • Extension of time for filing of the income tax return rejected u/s 119 - delay in filing of the return was on account of illness of the CA i.e., the statutory auditor - The assertions made to justify extension of time have to be proved and established - Assessee failed to prove - benefit u/s 80IB cannot be claimed so - HC

  • Review of settlement to order passed u/s 245D(4) - If the view taken by the minority member of the Commission is accepted, we fear, that then there would be no finality reached to an order passed by the Commission under Section 245D(4). - HC

  • Exemption u/s 11 eligibility - cricket association - taking into consideration the object of the institution which fits into the definition of charitable purpose defined u/s 2(15) and subsequent substitution of the Section itself with effect from 1st April, 2009 - exemption allowed - AT

  • Transfer pricing adjustment - in case the segmental profitability of AE segment is applied, then the margins shown by the assessee are within +/- 5% range of mean margins of comparables as worked out by the TPO and no adjustment needs to be made on account of international transactions undertaken by the assessee - AT

  • Penalty - Since the income under question was in fact entered in the “other documents” maintained in the normal course, which document was retrieved during search, hence, the amount offered by the assessee does not fall in the ken of “undisclosed income” defined in Sec. 271AAB - AT

  • To solve the knotty issue of capital/revenue expenditure the aim and object of the expenditure is to be considered not the quantum. - entries made in the books of accounts do not decide the true nature of expenditure. - AT

  • Penalty u/s.271AAA - undisclosed income addition - the assessee's responsibility to substantiate the manner of deriving such income did not commence. - When the base requirement itself fails, the question of denying the benefit of no penalty would not arise. - AT

  • Non compliance with condition precedent u/s 179(1) - recovery of dues of the company from the directors - Order set aside - AO is at liberty to pass a fresh order after issuing an appropriate notice to the Petitioner. - HC

  • Computation of interest u/s 234B - there is definite increase of tax liability from the regular assessment at the time of re-assessment - Tax paid u/s 140A was already refunded with interest - provisions of section 234B(2) was applied wrongly by the tribunal - the differential tax on reassessment had to be levied interest at the rate provided u/s 234B(3) - HC

  • Customs

  • Power of tribunal to refuse to entertain an appeal where fine or penalty does not exceed ₹ 2 lakhs - Tribunal has not correctly exercised the discretion under the proviso (iii) to sub-section 1 of Section 129A of the Act - HC

  • Indian Laws

  • Right of secured creditor - agriculture property - The High Court mis-directed itself in holding that the land was an agricultural land merely because it stood as such in the revenue entries, even though the application made for such conversation lies pending till date - SC

  • Service Tax

  • Condonation of delay in making payment of tax - VCES 2013 - The petitioners have to blame themselves and they cannot take advantage of their own wrong and force the respondents to accept the further sums in full and final settlement contrary to the stipulations and provisions in the scheme. - HC

  • Import of service - Technical Inspection & Certification Services - reverse charge - merely because appellant receiving service in India does not mean service was partly performed in India and therefore, service was covered under Rule 3(ii) of Taxation of Services (Provided from Outside India and Received in India) Rules, 2006 - AT

  • Classification of services - transportation of coal and manual breaking and loading of coal - The demand under “Mining of Mineral, Oil or Gas Services” raised through the said SCN is not sustainable - AT

  • Levy of service tax - GTA - reverse charge - It is undisputed fact that appellant has not paid freight charges. Therefore, they were not liable to pay service tax in the present proceedings - AT

  • Central Excise

  • CENVAT credit - input services - Pandal Shamiana - the appellant is entitled to avail cenvat credit on the services of Pandal Shaminana used for Vishwkarma Pooja - the said activity is directly related to the manufacturing activity of the appellant - AT

  • Delegation of power of adjudication to the chemical examiner - It is the responsibility of the Adjudicating Authority to take chemical examiner’s report and apply it to the facts and provisions of law and the entries in the Central Excise Tariff and decide classification of the goods - AT

  • Classification of goods - Organic Composite Solvents - no grounds to classify the said goods manufactured by respondent as Motor Spirit - goods to be classified under CETH 38140010 - AT


Case Laws:

  • GST

  • 2018 (3) TMI 972
  • 2018 (3) TMI 971
  • 2018 (3) TMI 970
  • 2018 (3) TMI 969
  • 2018 (3) TMI 968
  • Income Tax

  • 2018 (3) TMI 967
  • 2018 (3) TMI 966
  • 2018 (3) TMI 965
  • 2018 (3) TMI 964
  • 2018 (3) TMI 963
  • 2018 (3) TMI 962
  • 2018 (3) TMI 961
  • 2018 (3) TMI 960
  • 2018 (3) TMI 959
  • 2018 (3) TMI 958
  • 2018 (3) TMI 957
  • 2018 (3) TMI 956
  • 2018 (3) TMI 955
  • 2018 (3) TMI 954
  • 2018 (3) TMI 953
  • 2018 (3) TMI 952
  • 2018 (3) TMI 951
  • 2018 (3) TMI 950
  • 2018 (3) TMI 949
  • 2018 (3) TMI 948
  • 2018 (3) TMI 947
  • 2018 (3) TMI 946
  • 2018 (3) TMI 945
  • 2018 (3) TMI 944
  • 2018 (3) TMI 943
  • 2018 (3) TMI 942
  • 2018 (3) TMI 941
  • 2018 (3) TMI 940
  • 2018 (3) TMI 939
  • 2018 (3) TMI 938
  • 2018 (3) TMI 937
  • 2018 (3) TMI 936
  • Customs

  • 2018 (3) TMI 935
  • 2018 (3) TMI 934
  • 2018 (3) TMI 933
  • Service Tax

  • 2018 (3) TMI 973
  • 2018 (3) TMI 931
  • 2018 (3) TMI 930
  • 2018 (3) TMI 929
  • 2018 (3) TMI 928
  • 2018 (3) TMI 927
  • 2018 (3) TMI 926
  • Central Excise

  • 2018 (3) TMI 925
  • 2018 (3) TMI 924
  • 2018 (3) TMI 923
  • 2018 (3) TMI 922
  • 2018 (3) TMI 921
  • 2018 (3) TMI 920
  • 2018 (3) TMI 919
  • 2018 (3) TMI 918
  • 2018 (3) TMI 917
  • 2018 (3) TMI 916
  • 2018 (3) TMI 915
  • 2018 (3) TMI 914
  • 2018 (3) TMI 913
  • 2018 (3) TMI 912
  • 2018 (3) TMI 911
  • 2018 (3) TMI 910
  • 2018 (3) TMI 909
  • CST, VAT & Sales Tax

  • 2018 (3) TMI 908
  • 2018 (3) TMI 907
  • 2018 (3) TMI 906
  • 2018 (3) TMI 905
  • 2018 (3) TMI 904
  • Indian Laws

  • 2018 (3) TMI 932
 

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