Weekly Round-Up Of Tax Cases: 24 April To 30 April, 2022

Supreme CourtIncome Tax Act - Loss Suffered Due To Exchange Fluctuation While Repaying Loan Can Be Regarded As Revenue Expenditure : Supreme CourtCase Title: Wipro Finance Ltd. vs Commissioner of Income Tax Citation: 2022 LiveLaw (SC) 418 Allowing the appeal filed by Wipro Finance Ltd., the Supreme Court observed that the loss suffered owing to exchange fluctuation can be regarded as revenue expenditure and thus an allowable deduction. The bench comprising Justices allowed the appeal against High Court judgment which had reversed the above view taken by Income Tax Appellate Tribunal.Delhi High CourtIf Principles Of Natural Justice Are Violated, Writ Remedy Is Available Despite Statutory Appeal: Delhi High Court Case Title: Jindal Realty Limited versus National Faceless Assessment Centre, Delhi Citation: 2022 LiveLaw (Del) 376 The Delhi High Court has quashed an assessment order passed by the revenue department without issuing a prior show cause notice and draft assessment order to the assessee. The High Court has ruled that the assessment order was passed in violation of the principles of natural justice as well as the mandatory procedure prescribed under the "Faceless Assessment Scheme" under the Income Tax Act.Delhi High Court Stays Reopening of Income Tax Assessment Keeping In View The Credentials Of BHEL Case Title: Bharat Heavy Electricals Limited Versus PCIT Citation: 2022 LiveLaw (Del) 378 The Delhi High Court bench of Justice Manmohan and Justice Dinesh Kumar Sharma has stayed the reopening of income tax assessments, keeping in view the credentials of Bharat Heavy Electricals Limited (BHEL).Kerala High CourtBonafide Error In Format Of Date On E-Way Bill, Warrants Only Minor Penalty: Kerala High Court The Kerala High Court bench of Justice Bechu Kurian Thomas has held that a minor penalty can be imposed for a bona fide mistake in the date on an e-way bill.Can GST Be Imposed On Royalty Paid To Govt? Kerala High Court To Consider Case Title: Royal Sand & Gravels Pvt Ltd. v. Union of India & Ors. The Kerala High Court has admitted a plea that has raised significant questions of whether royalty paid to the government qualifies as tax and if GST can be imposed on such royalty. Karnataka High CourtMunicipal Corporations Can Levy Advertisement Fee/ Tax Under KMC Act, No Conflict With Levy Of GST: Karnataka High Court Case Title: HUBBALLI DHARWAD ADVERTISERS ASSOCIATION and others v. STATE OF KARNATAKA and Others Citation: 2022 LiveLaw (Kar) 144 The Karnataka High Court has declared that there is no conflict between the power to levy GST under GST Act and power of Municipal Corporation to levy advertisement fee or advertisement tax under Section 134 of the Karnataka Municipal Corporations Act.Madras High CourtAssessee To Claim Refund of Tax Collected By State WithoutAuthority Within 3 Years From The Date of Payment: Madras High Court Case Title: State of Tamil Nadu Versus Deputy Commissioner (CT) (FAC) Citation: 2022 LiveLaw (Mad) 179 The Madras High Court bench of Justice R.Mahadevan and Justice Mohhammed Shaffiq has held that any tax collected without authority would certainly amount to unjust enrichment and the assessees must claim a refund of the tax collected or retained by the state within three years from the date of their payments to the department.Asian Paints To Furnish ABank Guarantee For GST Department To Release The Detained Goods: Madras HighCourt Case Title: Tvl.Asian Paints Limited Versus The Assistant Commissioner (ST) The Madras High Court bench of Justice M. Dandapani has directed the GST department to release the detained goods on furnishing of the bank guarantee by Asian Paints.Madhya Pradesh High CourtClerical Mistake In Address On E-Way Bill: Madhya Pradesh High Court Imposes Minor Penalty Case Title: Technosteel Infraprojects Pvt. Ltd Vs The State Of Madhya Pradesh The Madhya Pradesh High Court bench of Justice Sheel Nagu and Justice Manindar Bhatti has held that a minor penalty can be imposed for a clerical mistake in the address on an e-way bill.Telangana High CourtOutright Rejection Of Stay Application Is Not Justified, Need To Exercise The Appellate And Revisional Jurisdiction Judicially: Telangana High Court Case Title: Access Tough Doors P. Ltd. Vs Additional Commissioner ST The Telangana High Court has held that the appellate and revisional authorities must judiciously exercise their discretionary power to grant a stay under the Telangana VAT Act. Jharkhand High CourtInitiation Of Adjudication Proceeding Without Issuance Of Show Cause Notice Is Void Ab Initio: Jharkhand High Court Case Title: M/s. Godavari Commodities Ltd. Versus The State of Jharkhand The Jharkhand High Court bench of Justice Aparesh Kumar Singh and Justice Deepak Roshan has held that the initiation of an adjudication proceeding without the issuance of a show cause notice ...

Weekly Round-Up Of Tax Cases: 24 April To 30 April, 2022

Mariya Paliwala

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