CBDT's Digital Evidence Investigation Manual Is Mandatory For Income Tax Dept. While Conducting Searches, Seizing Electronic Evidence: Madras High Court

The Madras High Court has held that it is mandatory for the income tax department to follow the Digital Evidence Investigation Manual issued by the Central Board of Direct Taxes (CBDT) while conducting searches and seizing electronic evidence.The bench of Justice Krishnan Ramasamy has observed that the electronic data has been collected in.txt files in violation of the provisions of the...

Interest Income Earned On Deposits Placed With Co-Operative Society Is Duly Eligible For Deduction U/s 80P(2)(D): Chandigarh ITAT

Finding that that the assessee is a Cooperative Society (and not a co-operative bank) which was engaged in providing short term credit facility to its members, the Chandigarh ITAT ruled that interest income has been earned on deposits placed with a co-operative society and duly eligible for deduction under section 80P(2)(d) of the Income tax Act.Referring to the decision of Supreme Court in...

Adani Wilmar Eligible For Sanction Of Incentives Under West Bengal State Support For Industries Scheme, 2008 Post GST: Calcutta High Court

The Calcutta High Court has held that Adani Wilmar is eligible for sanction of incentives under the West Bengal State Support for Industries Scheme, 2008, post GST.The bench of Justice Sabyasachi Bhattacharyya has directed the respondent department to disburse the balance amount of the claim of Rs. 4070 lakhs under the West Bengal State Support for Industries Scheme, 2008, in favor of...

Supplementary SCN Although Termed As Supplementary, Is Actually Independent SCN Even Though It Relates To Smuggling: Calcutta High Court

The Calcutta High Court has held that the supplementary show cause notice, although termed the supplementary, is actually an independent show cause notice even though it relates to the case of smuggling.The bench of Chief Justice T.S. Sivagnanam and Justice Supratim Bhattacharya has observed that no order confiscating any goods or imposing any penalty on any person shall be made under...

Expression “Yes” By PCIT Couldn't Be Considered A Valid Approval U/s 151 Of Income Tax Act: Delhi High Court

The Delhi High Court has held that the expression “yes” could not be considered to be a valid approval under Section 151 of the Income Tax Act.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that the satisfaction arrived at by the prescribed authority under Section 151 of the Income Tax Act must be clearly discernible from the expression used at the...

GST | Vehicle Number In 'Bilty' Couldn't Be Changed As Goods Were In Transit, E-Way Bill Was Updated: Allahabad HC Quashes Penalty Order

The Allahabad High Court has held that for goods in transit, vehicle number in bilty (consignment note) cannot be changed upon change of vehicle due to breakdown. The Court quashed the penalty order on grounds that vehicle number was updated in Part-B of the e-way bill.Petitioner's goods were intercepted, and penalty was imposed under Section 129(3) of the Uttar Pradesh Goods and Services...

CBDT To Nudge Taxpayers To Compute Advance Tax Liability And Deposit Due Advance Tax Before 15 March

The Central Board of Direct Taxes (CBDT) to mount e-campaign for Advance Tax e-campaign for FY 2023-24.The Income Tax Department has received certain information on specific financial transactions undertaken by persons/entities during Financial Year (F.Y.) 2023-24. On the basis of analysis of the taxes paid so far during the current financial year, the Department has identified...

Indirect Tax Cases Weekly Round-Up: 3 March To 9 March 2024

Delhi High Court Delhi High Court Directs GST Dept. To Pay 6% Interest For Delayed IGST Refund Case Title: Raghav Ventures Versus Commissioner Of Delhi Goods & Services Tax The Delhi High Court has directed the GST department to pay 6% interest on delayed IGST refund. Failure To Consider Reply On Merits; Delhi High Court Quashes GST Demand Against...

Direct Tax Cases Weekly Round-Up:3 March To 9 March 2024

Delhi High Court Revisional Jurisdiction Can't Be Invoked For Inadequacy Of Enquiry By AO: Delhi High Court Case Title: PCIT Versus M/S Clix Finance India Pvt. Ltd. The Delhi High Court has held that the inadequacy of the inquiry by the AO with respect to certain claims would not in itself be a reason to invoke the powers enshrined in Section 263 of the Income Tax Act. Pick...

CBDT Notifies Income Tax Exemption To Uttar Pradesh Real Estate Regulatory Authority

The Ministry of Finance, acting through the Central Board of Direct Taxes (CBDT), has issued a notification under section 10(46) of the Income-tax Act, 1961, granting specific tax exemptions to UP RERA for specified incomes. Analysis of Notification The exemptions will apply to certain specified incomes earned by UP RERA, including grants-in-aid, loans/advances from the...

Service Tax Not Liable To Be Paid On Ocean Freight/Sea Transportation Services: Bombay High Court

The Bombay High Court has held that service tax is not liable to be paid on ocean freight or sea transportation services.The bench of Justice G. S. Kulkarni and Justice Firdosh P. Pooniwalla has relied on the decision of the Gujarat High Court in the case of SAL Steel Ltd. vs. . Union of India, in which it was held that no tax is leviable under the Integrated Goods and Services Tax Act, 2007,...

Service Tax Can't Be Fastened Without Identifying Specific Service Provided And Consideration Received: CESTAT

The Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that service tax cannot be fastened without identifying the specific service provided and consideration received or to be received.The bench of Justice Dilip Gupta (President) and P. Anjani Kumar (Technical Member) has observed that in demanding the service tax, the twin conditions, i.e., identification...