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Home e-Newsletters Index Year 2020 March Day 27 - Friday

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TMI Tax Updates - e-Newsletter
March 27, 2020

Case Laws in this Newsletter:

GST Income Tax Benami Property Insolvency & Bankruptcy FEMA Service Tax Central Excise CST, VAT & Sales Tax



Articles


News


Notifications


Circulars / Instructions / Orders


Highlights / Catch Notes

    GST

  • Release of detained goods - whether the Officers of Kerala would have a jurisdiction to detain and seize the goods or at the best could have intimated the jurisdictional Officer in Karnataka to initiate proper proceedings against the petitioner in view of the report? - In case of a bonafide dispute with regard to the classification between a transitor of the goods and the squad officer, the squad officer may intercept the goods and detain them for the purpose of preparing the relevant papers for effective transmission to the judicial assessing officers and nothing beyond. - HC

  • Seizure of documents - proceeding under Section 70 of the OGST Act - grievance of the petitioner is that, since the documents called for by the OGST Authority has been seized by the CGST Authority, he is not in a position to supply the documents to the OGST Authority - Direction issued - HC

  • Bail Application - offences punishable under Sections 132(1)(b) and 132(1)(c) of CGST Act - The applicant is arrested on 21.07.2019 and almost 55 days are over and complaint is yet not filed by respondent no. 2 against the present applicant. - The application is allowed subject to conditions and the applicant is ordered to be released on bail.

  • Income Tax

  • Non remittence of TDS in time - penal action initiated by the Income Tax Department against the petitioners - criminal proceedings - the petitioners though deducted tax at source, not paid the same within the time prescribed. This action of initiating criminal prosecution after obtaining sanction from the appropriate authority cannot be termed as violative of principles of natural justice.

  • Seizure of money - release the money in interim custody - This court, by exercising the powers vested under Article 226 of the Constitution of India, cannot issue any direction with respect to release of the money, at this stage of the matter, unless the matter is considered by the appropriate authority.

  • Reopening of assessment u/s 147 - reasons for re-opening the assessment - change of opinion or not - mere filing to the annexure by the petitioner in response to notice during scrutiny assessment by itself may or may not have been sufficient to come to the conclusion that there was full and true disclosure by the petitioner if the information furnished was neither complete nor true.

  • Correct head of income - interest received under Section 28 of the Land Acquisition Act, 1894 - part take the character of the compensation and would fall under the head “Capital gains” or “Income from other sources” - the interest received on compensation or enhanced compensation is to be treated as “income from other sources” and not under the head “Capital gains”.

  • Exemption u/s 11 - registration u/sec. 12AA denied - CIT(E) rejected the 12A registration on the ground that clause mentioned in the gift deed is not in accordance with law is concerned; we find that the above reason given by the ld.CIT(E) is not correct in rejecting the 12A registration to the assessee. CIT(E) not at all examined what the assessee‟s activities whether assessee actually carrying charitable activities are not. Without doing so, the ld. CIT(E) picked up an irrelevant clause in the gift deed and rejected 12A, CIT(A) is not correct.

  • Reopening of assessment u/s 147 - additions u/s. 68 and u/s. 69C - Information from the Investigation Wing(Income-tax Department) can only trigger the reasons to suspect. Then the AO to make some preliminary inquiry and collect some material which would suggest the escapement of income - AO does not satisfy the jurisdictional requirement as per the settled law - Notice issued u/s 148 quashed.

  • Denial of deduction u/s 80P(2) - assessee is in the Banking business accepts the deposits from the general public being D Class nominal members and also lend the funds - eligibility of nominal members - the nominal members are also eligible for the Benefits of credit society.

  • Penalty imposed u/s 221(1) r.w.s. 140A(3) - non-payment of self-assessment tax - Return of Income as filed u/s 139(1) itself was declared an invalid Return - scope of Sec.140A(3) - without there being any requisite corresponding amendment to Sec. 221 of the Act in consonance with the amendments carried out in Sec. 140A(3) of the Act w.e.f. 01.04.1989, the Assessing Officer erred in levying the impugned penalty.

  • FEMA

  • Organisation of a political nature as barred from receiving foreign contributions - Support to public causes by resorting to legitimate means of dissent like bandh, hartal etc. cannot deprive an organisation of its legitimate right of receiving foreign contribution. It is clear from the provision itself that bandh, hartal, rasta roko etc., are treated as common methods of political action. Any organisation which supports the cause of a group of citizens agitating for their rights without a political goal or objective cannot be penalized by being declared as an organisation of a political nature. - SC

  • Violation of provisions of Section 10(6) of the FEMA Act - Responsibility of Authorised person - Considering the fact that the appellant admittedly became aware of the contravention yet failed to take corrective measures until the action to impose penalty for such contravention was initiated, he cannot be permitted to invoke the only defence available in terms of proviso to subSection (1) of Section 42 of the FEMA Act that the contravention took place without his knowledge or that he exercised all due diligence to prevent such contravention - SC

  • Service Tax

  • Club and Association Service - Levy of service tax - advance entrance/enrollment fee collected from prospective members - Mutuality of interest - there being mutuality of interest between the club and its members, there is no transfer of ownership of the service - Demand set aside.

  • VAT

  • Audit of the business operations of the petitioner - Section 64 (4) of the TNVAT Act - In the case on hand, the Joint Commissioner (CT) Enforcement I, who is subordinate to the Commissioner, has ordered for audit, which is against the provisions of the Act. Based on the same, the first respondent has passed the impugned assessment orders, which are as rightly contended by the learned counsel for the petitioner, liable to be set-aside.


Case Laws:

  • GST

  • 2020 (3) TMI 1125
  • 2020 (3) TMI 1124
  • 2020 (3) TMI 1123
  • 2020 (3) TMI 1122
  • 2020 (3) TMI 1121
  • 2020 (3) TMI 1120
  • Income Tax

  • 2020 (3) TMI 1119
  • 2020 (3) TMI 1118
  • 2020 (3) TMI 1117
  • 2020 (3) TMI 1116
  • 2020 (3) TMI 1115
  • 2020 (3) TMI 1114
  • 2020 (3) TMI 1113
  • 2020 (3) TMI 1112
  • 2020 (3) TMI 1111
  • 2020 (3) TMI 1110
  • 2020 (3) TMI 1109
  • 2020 (3) TMI 1089
  • Benami Property

  • 2020 (3) TMI 1108
  • 2020 (3) TMI 1107
  • 2020 (3) TMI 1106
  • Insolvency & Bankruptcy

  • 2020 (3) TMI 1105
  • 2020 (3) TMI 1104
  • FEMA

  • 2020 (3) TMI 1103
  • 2020 (3) TMI 1102
  • Service Tax

  • 2020 (3) TMI 1101
  • 2020 (3) TMI 1100
  • 2020 (3) TMI 1099
  • 2020 (3) TMI 1098
  • Central Excise

  • 2020 (3) TMI 1097
  • 2020 (3) TMI 1096
  • CST, VAT & Sales Tax

  • 2020 (3) TMI 1095
  • 2020 (3) TMI 1094
  • 2020 (3) TMI 1093
  • 2020 (3) TMI 1092
  • 2020 (3) TMI 1091
  • 2020 (3) TMI 1090
 

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