Tax
DGFT Notifies Mundra Port, Garhi Harsaru ICD For New Vehicle Imports
The Directorate General of Foreign Trade (DGFT) has added Mundra Port and Garhi Harsaru Inland Container Depot (ICD) to the list of terminals allowed for importing new vehicles.The addition by the DGFT has expanded the existing list of permitted ports/ICDs from 16 to 18 under Chapter 87 of ITC (HS) 2022. The import of new vehicles is now permitted through Mundra Port and Garhi Harsaru...
Direct Tax Cases Weekly Round-Up: 04 To 10 February 2024
Bombay High CourtHSBC Bank Carrying On Bona Fide Banking Business In Mauritius Exempt From Tax In India: Bombay High Court Case Title: Commissioner of Income Tax Versus M/s. HSBC Bank (Mauritius) Ltd. The Bombay High Court has held that HSBC Bank carrying on bona fide banking business in Mauritius is exempt from tax in India. Income Tax Deduction Available On Excise Duty...
UCO Bank Eligible For Cenvat Credit Of Service Tax Paid On Telephone Bills In Respect Of Telephones Installed At Employees' Residence: CESTAT
The Kolkata Bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that UCO Bank is eligible for the Cenvat Credit of service tax paid on telephone bills in respect of the telephones installed at the residence of employees.The bench of Ashok Jindal (Judicial Member) and K. Anpazhakan (Technical Member) has observed that the telephone has been installed to the residence...
Indirect Tax Cases Weekly Round-Up: 04 To 10 February 2024
Supreme CourtCustoms Act | Claimant Entitled To Interest On Delayed Return Of The 'Duty Drawback' : Supreme Court UNION OF INDIA AND ORS. VERSUS M/S. B. T. PATIL AND SONS BELGAUM (CONSTRUCTION) PVT. LTD. CIVIL APPEAL NO.7238 OF 2009 Citation : 2024 LiveLaw (SC) 90 The Supreme Court on Monday (February 5) observed that if there is a delay in refund of the 'duty drawback'...
Income Tax Not Payable On Services Rendered Abroad By Non-Resident Deputed By Indian Employer: ITAT
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the income tax is not payable on services rendered abroad by non-residents deputed by Indian employers.The bench of Saktijit Dey (Vice President) and B. R. R. Kumar (Accountant Member) has observed that from the concurrent reading of Section 5 of the Income-tax Act, 1961, dealing with scope of total income, Section 15...
Incentives Given To Audi Authorised Service Station Not 'Business Auxiliary Service', No Service Tax Payable: CESTAT
The Chennai Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that incentives given to audit-authorised service stations are not 'business auxiliary services'.The bench of Sulekha Beevi C.S. (Judicial Member) and Vasa Seshagiri Rao (Technical Member) have observed that the demand has been made under the definition of service under Section 65 (44) B. There is...
Delhi High Court Directs Dept. To Consider ITC Refund In Light Of CBIC Circular Extending Benefit Of Exclusion Period
The Delhi High Court has directed the department to consider refunding the input tax credit (ITC) in light of the circular issued by the Central Board of Indirect Taxes and Customs (CBIC) extending the benefit of the exclusion period.The bench of Justice Sanjeev Sachdeva and Justice Ravinder Dudeja has observed that the benefit of exclusion of the period from March 1, 2020, to February 28,...
CESTAT Allows Cenvat Credit To Kalyan Jewellers On Gold Insurance Services Provided By Insurance Company
The Bangalore Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has allowed the cenvat credit of service tax paid on the services provided by M/s Oriental Insurance Co., Ltd., to the appellant, Kalyan Jewellers.The bench of P.A. Augustian (Judicial Member) and Pullela Nageswara Rao (Technical Member) has observed that the denial of benefit of cenvat credit by the...
Gujarat High Court Upholds Income Tax Department's Search and Seizure, Condemns Misconduct
The Gujarat High Court on Tuesday, upheld the search and seizures conducted by the Income Tax (I-T) department at a lawyer's residence and office last year over alleged income tax evasion as valid.The above development came in a petition moved by practicing advocate Maulik Sheth, challenging the manner of search conducted by the I-T officials between November 3 and 7 at his office and...
Mere Factum Of Two Set Of Invoices Not Sufficient To Prove Charge Of Clandestine Removal: CESTAT
The Kolkata Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that a mere factum of two sets of invoices is not sufficient to prove the charge of clandestine removal.The bench of Ashok Jindal (Judicial Member) and K. Anpazhakan (Technical Member) has observed that the case was made out on the basis of rough papers seized during the course of the investigation,...
Service Tax Demand Not Sustainable Merely On The Basis Of Form 26AS Issued By Income Tax Department: CESTAT
The Kolkata Bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that merely on the basis of Form 26AS issued by the Income Tax Department, the demand of Service Tax is not sustainable against the appellant.The bench of Ashok Jindal (Judicial Member) and K.Anpazhakan (Technical Member) has observed that initially, the investigation started against the appellant in...
Dept. To Inform Charges To Person Against Whom Income Tax Proceedings Are Initiated: Jharkhand High Court
The Jharkhand High Court has held that the show cause notice should give the noticeee a reasonable opportunity to make objections against proposed charges indicated in the notice, and the person proceeded against must be told the charges against him so that he can make his defense and prove his innocence.The bench of Justice Rongon Mukhopadhyay and Justice Deepak Roshan has observed that in...