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Home e-Newsletters Index Year 2021 September Day 30 - Thursday

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TMI Tax Updates - e-Newsletter
September 30, 2021

Case Laws in this Newsletter:

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



Highlights / Catch Notes

    GST

  • Seeking grant of Bail - availment of fraudulent credit - no further investigation is either carried out or recorded - In the instant case, taking into account the alleged amount of evasion of tax, the case falls under Section 132(1)(i) of the AGST Act and the punishment prescribed for such an offence may extend to imprisonment for 5 (five) years and with fine - the accused-petitioner, named above, be released on bail, subject to conditions - HC

  • Income Tax

  • Recovery of outstanding tax demands from the director of a private company in liquidation - Joint or severe liability - As per the MOU / Settlement agreement, all the income tax liabilities will be borne and paid by one of the Directors (Not the present petitioner) - It is a settled law that while rights in personam are arbitrable, rights in rem are unsuited for private arbitration and can only be adjudicated by the Courts or Tribunals - private parties cannot apportion Income Tax liability by private agreement as the petitioner has sought to do in the present case. - HC

  • Rejection of declaration u/s 5 of the Direct Tax Vivad Se Vishwas Act, 2020 (‘VSV Scheme’) - Case was pending or not - there remains no shadow of doubt that appeal could be said to be pending, even if the delay occurred in filing the same was not condoned and even if it was allegedly irregular or incompetent. In the instant case therefore also, the Respondent could not have rejected the Declaration Form of the Petitioner filed under the said Act merely on the ground that the Appeal was not valid or competent, as the delay occurred in filing the Appeal was not condoned by the Appellate Authority. - HC

  • Fresh registration u/s 12AB - Notice seeking cancellation of earlier registration u/s 12A / 12AA pursuance of search proceedings u/s 132 and assessment u/s 153C as on 10.8.2021 - the impugned notice dated 10.08.2021 issued under Section 12AA(3) of the Act, as such, cannot be proceeded further and it can be kept in abeyance for the time being, till an order is passed by the Principal Commissioner/Commissioner as the case may be on the application of the petitioner dated 04.05.2021 under Section 12AB(1)(a) - HC

  • TDS u/s 194H - commission or discount - the sale of recharge voucher coupons and starter kits and the discount offered to the distributors would not attract TDS provisions u/s 194H of the Act and as such no default u/s 201(1) of the Act can be attributed to the assessee. - AT

  • Exemption u/s 54 - denial of claim on purchase of property abroad - the investment in purchase of residential house in UK was made in July, 2013 and as such the claim of exemption u/s 54 of the Act in respect of such investment is allowable. Accordingly, we find no reason to take a view different from the view taken by the Ld. CIT(A) on the issue and we uphold the same. - AT

  • TDS u/s 194A - interest payment to APIIC[State Government undertaking] - we are in concurrence with the conclusion of the ld. Commissioner for covering the APIIC u/sec. 194A(3)(iii)(f) of the Act and to the effect as well that APIIC is an organization exempted u/sec. 11 of the Act having filed ‘NIL’ taxable income, is not liable to tax and, therefore, deduction of tax at source qua APIIC is not attracted. - AT

  • Penalty u/s. 271(1)(c) - assessee has purchased a vacant land for which he is not entitled for deduction u/s. 54F - the assessee has neither concealed the income nor furnished inaccurate particulars in this case and therefore, the penalty levied by the A.O and confirmed by the CIT(A) is not correct. - AT

  • Addition u/s 41(1) - benefit by way of remission or cessation of liability - In the instant case, the first mentioned person is the assessee, but not the creditor. In the instant case, the assessee has not written off the liability, though the creditor has written off the debt. Though the debtor has no legal right to enforce the debt, still the assessee is having liability to make the payment, till the assessee writes off the debt. - There is no case for invoking the provision u/s 41(1) - AT

  • Business and Promotion expenses - The expenditure incurred by the assessee towards, Bangalore Orthopaedic Society – Conference for practical use of products and Payments made towards travelling expense of doctors for attending the workshops organized at France a/w the expenditure incurred towards their stay, honorarium fees would not be hit by the “Explanation” to Sec. 37 - A.O was not justified in disallowing the aforesaid expenses that were incurred by the assessee wholly and exclusively in the normal course of its business - AT

  • Additions u/s 69A - Cash deposits made during demonetization period - there is no dispute that the assessee is running Petrol and Diesel retail outlet and he is the dealer of HPCL and the Govt. of India has permitted during the demonetization period to accept the specified bank notes in the case of petrol bunks. There is no dispute that the cash deposits made were relatable to sales and duly accounted in the books of accounts and the same were deposited in the bank account - Deposit of cash cannot be said as unexplained - there is no case for making the addition u/s 69A - AT

  • Service Tax

  • CENVAT Credit - input services - Irrespective of the person whether it is service recipient or service provider is liable to pay the service tax but so long the service tax was admittedly paid even by the recipient of the service, the Cenvat credit cannot be denied. This issue is no longer res Integra as this tribunal in following judgments for categorically hold that even though the portion of the service tax which was supposed to be paid by the some other person, so long the service tax was paid, the credit of said service tax cannot be denied to the recipient of service. - AT

  • Central Excise

  • Recovery of Interest and penalty - Rrejection of SVLDRS-1 - unquatified "amount in arrears" - no interest or penalty came to be adjudicated before introduction of the Scheme. Infact, no adjudication notice was issued in that regard - Benefit of SVLDRS not available to the petitioner - on the other hand without adjudication, garnishee proceeding for recovery of interest and penalty is not maintainable - HC

  • CENVAT Credit - input services - Outward transportation of Hazardous Waste - In fact this activity is though the way of transportation but it is the disposal of Hazardous waste which is generating during the course of manufacture. In this fact the service of transportation is covered under the main clause of dentition provided under Rule 2(l) of Cenvat Credit Rules, 2004. Therefore, the judgment of ultratech of the Apex Court is not at all relevant in the facts of the present case. - AT


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Case Laws:

  • GST

  • 2021 (9) TMI 1235
  • Income Tax

  • 2021 (9) TMI 1240
  • 2021 (9) TMI 1238
  • 2021 (9) TMI 1237
  • 2021 (9) TMI 1236
  • 2021 (9) TMI 1233
  • 2021 (9) TMI 1231
  • 2021 (9) TMI 1230
  • 2021 (9) TMI 1229
  • 2021 (9) TMI 1228
  • 2021 (9) TMI 1227
  • 2021 (9) TMI 1225
  • 2021 (9) TMI 1224
  • 2021 (9) TMI 1223
  • 2021 (9) TMI 1222
  • 2021 (9) TMI 1221
  • 2021 (9) TMI 1220
  • 2021 (9) TMI 1219
  • 2021 (9) TMI 1218
  • 2021 (9) TMI 1217
  • 2021 (9) TMI 1216
  • 2021 (9) TMI 1215
  • 2021 (9) TMI 1214
  • 2021 (9) TMI 1213
  • 2021 (9) TMI 1212
  • 2021 (9) TMI 1211
  • 2021 (9) TMI 1210
  • 2021 (9) TMI 1205
  • 2021 (9) TMI 1204
  • 2021 (9) TMI 1203
  • 2021 (9) TMI 1200
  • 2021 (9) TMI 1199
  • 2021 (9) TMI 1196
  • 2021 (9) TMI 1192
  • Corporate Laws

  • 2021 (9) TMI 1202
  • Insolvency & Bankruptcy

  • 2021 (9) TMI 1209
  • 2021 (9) TMI 1208
  • 2021 (9) TMI 1207
  • 2021 (9) TMI 1206
  • 2021 (9) TMI 1195
  • 2021 (9) TMI 1194
  • Service Tax

  • 2021 (9) TMI 1201
  • Central Excise

  • 2021 (9) TMI 1232
  • 2021 (9) TMI 1198
  • 2021 (9) TMI 1197
  • 2021 (9) TMI 1193
  • CST, VAT & Sales Tax

  • 2021 (9) TMI 1239
  • 2021 (9) TMI 1234
  • 2021 (9) TMI 1226
 

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