Tax
Income Tax Exemptions Available To ST Individuals Can't Be Extended To Partnership Firm: ITAT
The Guwahati Bench of the Income Tax Appellate Tribunal (ITAT) has held that the exemption under Section 10(26) of the Income Tax Act has been specifically conferred on members of the Scheduled Tribe residing in the specified area. The exemption cannot be extended to another separate and distinct "person," that is, the partnership firm, though such a firm consists of the individual partners...
Abhisar Buildwell Judgment Can't Be Construed To Be An Authority To Override Mandate Of Section 245-I: Delhi High Court
The Delhi High Court has held that the judgement of Abhisar Buildwell passed by the Supreme Court cannot be construed to be an authority to override the mandate of Section 245-I of the Income Tax Act.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that in terms of the Supreme Court's judgment in the case of Abhisar Buildwell, the completed or...
Categorising Body Massager As Adult Sex Toy, Officer's Imagination, Not Covered Under 'Prohibited Goods': Bombay High Court
The Bombay High Court has held that categorising the body massager as an adult sex toy was purely the officer's imagination.The bench of Justice G. S. Kulkarni and Justice Kishore C. Sant has upheld the CESTAT's ruling, in which it was held that the view taken by the Commissioner was purely the Commissioner's imagination to categorise the item not as a body massager but as an adult sex toy....
Average Income Is To Be Considered If Variations Found In Income Tax Returns Filed By Claimant: Karnataka High Court
The Karnataka High Court has held that if income tax returns are available the same should be considered as best a piece of evidence and if variations are found in the income tax returns, considered for different assessment years, it would be appropriate to consider the average income of three assessment years to arrive at the annual stable income of the claimant seeking compensation under...
Variance In Allowable Deductions Doesn't Amount To Furnishing Inaccurate Particulars Of Income: Bombay High Court
The Bombay High Court has held that the assessee cannot be said to furnish inaccurate particulars of income merely for variance in allowable deductions.The bench of Justice K. R. Shriram and Justice Neela Gokhale has observed that the ITAT was of the view and rightly so that the assessee had made a bona fide claim under Section 36(1)(viii), as such deductions claimed are linked to the...
In Absence Of Service Recipient And Service Provided Service Tax Can't Be Demanded And Confirmed: CESTAT
The Delhi Bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that in the absence of such service recipient and service provided service tax cannot be demanded and confirmed.The bench of Rachna Gupta (Judicial Member) and Hemambika R. Priya (Technical Member) has observed that it is the burden cast upon the department to show that the assessee has recovered the cost...
Excise Duty Not Payable On Waste And Scrap Of Packing Material Of Inputs If Travels Beyond Show-Cause Notice: CESTAT
The Mumbai Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that excise duty is not payable on waste and scrap packing material of inputs, and demand is not sustainable if it has travelled beyond the show-cause notice.The bench of Suvendu Kumar Pati (Judicial Member) and Anil G. Shakkarwar (Technical Member) has observed that no demand is raised on the Appellant...
Govt. Notifies Lower Royalty & FTS Tax-Rate In India-Spain DTAA
The government has notified the lower tax rates on royalties and fees for technical services (FTS) in the India-Spain double taxation avoidance agreement (DTAA).As per the notification, royalties and fees for technical services may also be taxed in the contracting state in which they arise, according to the law of that state, but if the recipient is the beneficial owner of the royalties or...
Failure Of AO To Take Concrete Steps To Ascertain The Genuineness And Creditworthiness Of Transactions: Delhi High Court
The Delhi High Court has held that the AO has not taken any concrete steps to ascertain the genuineness and creditworthiness of the transactions.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that clause (a) of Explanation 2 of Section 263 of the Act introduces a deeming fiction to the effect that the order passed by the AO shall be considered erroneous...
Tribunal's Discretion To Dispense Obligation To Deposit Duty/Interest Or Penalty In Cases Of Undue Hardships: Delhi High Court
The Delhi High Court has held that the proviso to Section 129E of the Customs Act, 1962, gives discretion to the Tribunal in cases of undue hardships to dispense the obligation to deposit the duty, interest, or penalty.The bench of Justice Sanjeev Sachdeva and Justice Ravinder Dudeja has observed that the application for waiver of pre-deposit was dismissed by the Tribunal, and the writ...
S.144B Income Tax | Burden to Provide Registered Email Shifts On Assessee Only If It Can't Be Obtained From ITR/Portal/MCA Website: Allahabad HC
The Allahabad High Court has held that the provision requiring the assesee to provide his “registered email address” to the income tax authorities under Section 144B of the Income Tax Act, 1961 is residuary in nature.The Court held that if the assessing authority is unable to obtain the registered email address from the income tax returns or from the designated portal of assesee or website...
10% of Demand Already Paid By Assessee, Madras High Court Allows Cooperative Bank's Writ Appeal By Waiving 10% Pre-Deposit
The Madras High Court has waived the condition of payment of a 10% pre-deposit as the 10% demand was already paid by the assessee.The bench of Justice R. Mahadevan and Justice Mohammed Shaffiq have observed that the single judge, while taking note of the financial hardship expressed by the assessee, modified CIT (TDS)'s order and permitted the assessee to deposit the amount in three...