Tax
High-End KPO Services Provider Can't Be Compared With ITeS, Which Is BPO Services Provider: Delhi High Court
The Delhi High Court has held that the high-end knowledge process outsourcing (KPO) services provider cannot be compared with the information technology-enabled services (ITeS), which fall under the category of BPO services provider.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed that eClerx focuses on automation and process re-engineering in order to...
Investments Made Through Banking Channels Can't Be Disbelieved, Onus On Revenue To Prove Otherwise: Allahabad HC
Recently, the Allahabad High Court held that investments made through banking channels and show in regular returns cannot be disbelieved unless proven otherwise by the department.The bench comprising of Justice Saumitra Dayal Singh and Justice Shiv Shanker Prasad held there was “no room” to disbelieve investments made in the assesee company if they have been made through banking channels...
Tax Cases Weekly Round-Up: 10 To 16 December, 2023
Delhi High Court No Incriminating Material Was Found During Search: Delhi High Court Quashes S. 153A Proceedings Case Title: PCIT Versus Oxygen Business Park Pvt. Ltd. The Delhi High Court has held that the assessment for the assessment year 2011–12 was finalized on January 20, 2012, and no notice under Section 143(2) of the Income Tax Act was issued. As such,...
CBIC Notifies Mandatory Requirement Of BIS Registration And Random Sampling for Imported Electronic and IT Goods
The Central Board of Indirect Taxes and Customs (CBIC) has notified the mandatory requirement of Bureau of Indian Standards (BIS) Registration and random sampling for imported electronic and IT goods.The CBIC on review of the different practices in the implementation and streamlining the process including sampling issued the directions.The Customs Officer shall check for BIS registration in...
CBIC Launches SAMAY Application For Timely Litigation Management
The Central Board of Indirect Taxes and Customs (CBIC) has launched the SAMAY Application for timely litigation management.The meeting was held between the Chief Commissioners and the CBIC Chairman. A presentation on the SAMAY (Systematic Adherence and MAnagement of Timelines for Yielding Results in litigation) application was made by the Legal Cell of the CBIC.SAMAY, the online portal...
GST Bill Tabled Raising The Age Limit Of GSTAT Members
The Central Goods and Services Tax (Second Amendment) Bill, 2023 aims to raise the previous age limits of 67 and 65 years to 70 years for the president and members of the GST appellate tribunals (GSTAT).An advocate could be appointed as a judicial member of the GSTAT if they have ten years of "experience" in litigation before the appellate tribunal concerning indirect taxes. The amendment...
Bombay High Court Directs Dept. To Permit Amend In GSTR-1, Either Online Or Manual
The Bombay High Court has directed the department to permit the petitioner or assessee to amend or rectify Form GSTR-1 for the period July 2021, November 2021, and January 2022, either online or manually.The bench of Justice G. S. Kulkarni and Justice Jitendra Jain has observed that a bona fide, inadvertent error in furnishing details in a GST return needs to be recognized and permitted to...
CESTAT Affirms Seizure Of Unaccounted Gutka Stored In Godowns Without Any Documentation And Declaration
The Delhi bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has affirmed the seizure of unaccounted gutka and stock of raw material stored in these godowns without any documentation or declaration.The bench of Binu Tamta (Judicial Member) has observed that it is not necessary to establish mens rea in tax matters as non-compliance with statutory provisions is...
'Input Tax Credit' Becomes Vested Right Only If The Conditions Are Fulfilled: Calcutta High Court
The Calcutta High Court has held that the input tax credit (ITC) under Section 16(1) of the GST Act becomes a vested right only if the conditions to take it are fulfilled.The bench of Chief Justice T.S. Sivagnanam and Justice Hiranmay Bhattacharyya has observed that Section 16(2) does not appear to be a provision that allows input tax credit; rather, Section 16(1) is the enabling provision,...
Section 54 Deduction Can't Be Disallowed Merely For Not Depositing LTCG In Capital Gain Account Scheme: ITAT
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that deduction under Section 54 of the Income Tax Act cannot be disallowed merely for not depositing long-term capital gain (LTCG) that was not deposited in the capital gain account scheme.The bench of Saktijit Dey (Vice President) and M. Balaganesh (Accountant Member) has adopted a hyper-technical approach while dealing with...
CBIC Decides To Levy Anti-Dumping Duty On Synthetic Grade Zeolite 4A Imported From Thailand And Iran
The Central Board of Indirect Taxes and Customs (CBIC) has decided to levy anti-dumping duty on synthetic-grade zeolite 4A imported from Thailand and Iran.The Synthetic Grade Zeolite 4A falls under tariff items 2842 90 90, 2826 90 00, 2839 90 90 and 2842 10 00 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) which originates in, or exported from the Iran and Thailand...
Delhi High Court Quashes Income Tax Notice Issued Prior To Date Of Approval Of Resolution Plan
The Delhi High Court has quashed the income tax notices and orders issued prior to the date of approval of the resolution plan.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed the notices and orders pertaining to the income tax claims of the respondents or department pertaining to the period much prior to the date of approval of the resolution plan. The notices...