Tax
Export Obligation Under Advance Authorization Scheme Is Complied, All Duties Are Exempted: CESTAT
The Ahmedabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the goods were cleared under the advance authorization scheme, according to which all the duties are exempted by way of debiting in the advance licence scheme. The bench of Ramesh Nair (Judicial Member) and Raju (Technical Member) has observed that the adjudicating authority has denied the...
S.16 GST | Authorities Not Estopped From Taking Action Against Wrongful Claim Of ITC Based On Non-Existent Firms: Allahabad High Court
The Allahabad High Court has held that the authorities are not estopped from taking action against wrongful claim of input tax credit merely because the firms with which transactions were alleged to have been done were registered at the time of the alleged transactions.Observing that fraud vitiates even the most solemn proceedings, Justice Subhash Vidyarthi, held that “mere fact that...
S.129(3) UPGST | Burden To Prove Double Movement Of Goods Based On Same Documents Lies On Department: Allahabad High Court Reiterates
Relying on its earlier decision in M/s Anandeshwar Traders v. State of U.P. and Others, the Allahabad High Court has held that the burden to prove double movement of goods based on same documents lies on the department.The Allahabad High Court in M/s Anandeshwar Traders v. State of U.P. and Others held that the positive burden to prove that goods had been transported on an earlier occasion...
No Service Tax Payable On Freight Margin Recovered From Customer In Case Of Outbound Shipment: CESTAT
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that no service tax is payable on freight margin recovered from customers in cases of outbound shipment.The bench of Somesh Arora (Judicial Member) and C.L. Mahar (Technical Member) has observed that the place of provision of service or transportation of goods shall be the place of destination of the goods, as per Rule 10 of...
CISF Reputed Government Of India Undertaking Can't Intend To Evade Service Tax Payment: CESTAT
The Hyderabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), while quashing the service tax demand, held that rent-free accommodation provided to CISF personnel cannot be taken as additional consideration.The bench of R. Muralidhar (Judicial Member) and A.K. Jyotishi (Technical Member) has observed that the appellant, CISF, is a reputed Government of India...
Bombay High Court Quashes Reassessment Notices Issued Merely On Basis Of Information Received From Directorate General Of GST
The Bombay High Court has quashed the reassessment notices issued merely on the basis of information received from the Directorate General of GST.The bench of Justice K. R. Shriram and Justice Neela Gokhale has observed that the AO is only referring to the information received from the Directorate General of GST. There is absolutely nothing to indicate that he independently applied his mind...
Retracted Statement Can't Be Said To Be Involuntary Without Being Examined By Court: Calcutta High Court
The Calcutta High Court has held that it is the duty cast upon the court to examine the correctness of the validity of the retraction, the point of time at which the retraction was made, whether the retraction was consistent, and whether it was merely a ruse. The bench of Chief Justice T.S. Sivagnanam and Justice Hiranmay Bhattacharyya has observed that if the tribunal was of the view that...
No Change In Opening And Closing Stock Of NCDs; Bombay High Court Quashes Reassessment Notice
The Bombay High Court has quashed the reassessment notices as there was no change in the opening and closing stock of the non-convertible debts (NCDs).The Bench of Justice K. R. Shriram and Justice Neela Gokhale has observed that the reopening of assessment by the notice was merely on the basis of a change of opinion of the AO. The change of opinion does not constitute justification...
Taxpayers Can Now Check Whether Their Feedback Is Acted Upon By Source/Reporting Entities
The Central Board of Direct Taxes (CBDT) has released a new functionality in the Annual Information Statement (AIS)for taxpayers to display the status of the information confirmation process in real-time.The Annual Information Statement (AIS) is available to all registered income tax payers through the compliance portal, accessible through the e-filing website (www.incometax.gov.in). AIS...
Mark-To-Market Loss, Loss On Forward Contracts, Loss On Forward Premium Account Not Speculative In Nature, ITAT Deletes Addition
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the income tax addition and held that mark-to-market losses, losses on forward contracts, and losses on forward premium accounts are not speculative in nature.The bench of Yogesh Kumar U.S. (Judicial Member) and Pradip Kumar Kedia (Accountant Member) has observed that CIT(A) has committed no error in deleting the...
Marketing/Recruitment/Referral Consultant To Foreign Universities On Principal To Principal Basis Is Not 'Intermediary Service': AAR
The Telangana Bench of the Authority of Advance Ruling (AAR) has held that marketing, recruiting, or referring consultants to foreign universities on a principal-to-principal basis is not 'intermediary service'.The bench of S.V. Kasi Visweswara Rao and Sahil Inamdar observed that the supplier is located in India while the recipient of services, i.e., foreign colleges and universities, is...