Race Promotion Contract Between Formula One World Championship And Jaypee Sports Is Not Franchise Agreement, No Service Tax Payable: CESTAT

The Allahabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the race promotion contract between Formula One World Championship (FOWC) and Jaypee Sports (JSIL) is not a franchise agreement, and no service tax is payable.The bench of P.K. Choudhary, Member (Judicial), and Sanjiv Srivastava (Technical Member), has observed that the agreement is for the...

Direct Tax Cases Weekly Round-Up: 11 To 17 February 2024

Supreme Court Reopening Of Income Tax Assessments : Supreme Court Refuses To Interfere With Delhi High Court's Guidelines To Tax Dept. Case Title: Asst. Commissioner Of Income Tax Versus Sabh Infrastructure Ltd. The Supreme Court has refused to interfere with a 2017 Delhi High Court judgment which issued a set of guidelines to the Income Tax Department regarding the...

Indirect Tax Cases Weekly Round-Up: 11 To 17 February 2024

Delhi High Court Delhi High Court Directs Dept. To Consider ITC Refund In Light Of CBIC Circular Extending Benefit Of Exclusion Period Case Title: M/S Bharti Enterprises Versus Commissioner, Value Added Tax, Department Of Trade And Taxes & Ors. The Delhi High Court has directed the department to consider refunding the input tax credit (ITC) in light of the...

Reopening Notice Issued U/s 148 Merits To Be Quashed If Barred By Limitation Period Prescribed U/s 149: Jharkhand High Court

Finding that the notice issued u/s 148 is barred by the limitation period prescribed u/s 149 of the Income tax Act, 1961, the Jharkhand High Court (Ranchi Bench) ruled that the very initiation of reassessment proceeding is wholly without jurisdiction. The Division Bench of Justice Rongon Mukhopadhyay and Justice Deepak Roshan observed that “The three-year time period of A.Y 2016-17 had...

Supreme Court Annual Digest 2023 -Income Tax Act, 1961

2015 amendment to Section 153C of Income Tax Act will apply to searches conducted prior to the date of amendment. 2023 LiveLaw (SC) 274Amendment brought to Section 153C of the Act, 1961 vide Finance Act, 2015 shall be applicable to searches conducted under Section 132 of the Act, 1961 before 01.06.2015, i.e., the date of the amendment. (Para 11) 2023 LiveLaw (SC) 274Carrier of Goods not...

OYO Not Liable To Deduct TDS On Minimum Guarantee Payments Made To Hotels: ITAT

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the assessee OYO is not liable for TDS under Section 194C of the Income Tax Act on the minimum guarantee payments made to hotels.The bench of Kul Bharat (Judicial Member) and N.K. Billaiya (Accountant Member) has observed that the assessee, for the purpose of carrying on its business operations, enters into merchant...

Three-Years Limitation Period For Tax Reassessment Assessment Notice on Concealed Income Below Rs. 50 Lakh: Jharkhand High Court

The Jharkhand High Court has held that any notice under Section 148 of the Income Tax Act, 1961, is normally three years from the end of the relevant assessment year and extendable beyond three years to 10 years, provided the income that has escaped assessment is Rs. 50,00,000 or more.The bench of Justice Rongon Mukhopadhyay and Justice Deepak Roshan have observed that the reassessment...

Reopening Of Income Tax Assessments : Supreme Court Refuses To Interfere With Delhi High Court's Guidelines To Tax Dept

The Supreme Court has refused to interfere with a 2017 Delhi High Court judgment which issued a set of guidelines to the Income Tax Department regarding the reopening of assessments.A bench comprising Justice PS Narasimha and Justice Aravind Kumar dismissed a Special Leave Petition filed by the Income Tax Department in 2018 against the 2017 High Court verdict.The Delhi High Court bench of...

Rule 108 CGST Rules | Self-Certified Copy Of Order Under Challenge Not Required For Appeals Filed Electronically: Allahabad High Court

The Allahabad High Court has held that requirement of self-certified copy of order is not applicable to the appeals filed electronically under Section 107 of the Central Goods and Service Tax Act, 2017 read with Rule 108 of the Central Goods and Services Tax Rules, 2017.Section 107 of the Central Goods and Services Tax Act, 2017 provides for remedy of appeal to any person aggrieved by any...

Govts Should Collect Taxes Like Honeybee, Without Disturbing Petals: Allahabad High Court While Quashing Penalty Order Against Hawkins

Recently, while quashing penalty order passed under Section 129 of the Goods and Service Tax Act, 2017 against M/s Hawkins Cookers Limited, the Allahabad High Court cited the Arthashastra by Chanakya.“Governments should collect taxes like a honeybee collects honey from a flower without disturbing its petals.”The Court held that in absence of any other discrepancy, incorrect address entered...

S.75(4) UPGST Act | Failure To File Reply To Show-Cause Notice Does Not Take Away Right Of Personal Hearing: Allahabad High Court

The Allahabad High Court has held that not filing a reply to a show cause notice does not take away the opportunity for personal hearing mandated under Section 75(4) of the Uttar Pradesh Goods and Service Tax Act, 2017.Section 75(4) of the UPGST Act provides that an opportunity for a hearing must be granted if requested in writing or where any adverse action is contemplated against...

CESTAT Quashes Excise Duty Demand Against Pepsico Scrap-Veg-Refuse Arising From Manufacture Of Exempted Goods

The Chandigarh Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has quashed the excise duty demand against Pepsico Scrap-Veg-Refuse arising from the manufacture of exempted goods.The bench of S. S. Garg (Judicial Member) and P. Anjani Kumar (Technical Member) has observed that waste pairing and scrap arising during the manufacture of exempted goods were exempt from...