Dept.’s Personal Opinion Not Tangible Material For Reopening Assessment: Calcutta High Court Quashes Reassessment

The Calcutta High Court has quashed the reassessment order on the grounds that the department’s personal opinion is not tangible material for reopening the assessment.The bench of Chief Justice T. S. Sivagnanam and Justice Hiranmay Bhattacharyya has observed that unless glaring omissions are demonstrated or conditions precedent for exercise of the power to reopen assessment are not...

CBDT Notifies Income Tax Exemption To Chhattisgarh Rajya Beej Pramanikaran Sanstha

The Central Board of Direct Taxes (CBDT) has notified the income tax exemption to Chhattisgarh Rajya Beej Pramanikaran Sanstha.The Board empowered under section 10 (46) of the Income-tax Act, 1961 has exempted Chhattisgarh Rajya Beej Pramanikaran Sanstha, a body constituted by the State Government of Chhattisgarh from income tax.The income tax exemption is applicable on grants received...

CBDT Notifies Income Tax Exemption To Maharashtra Council Of Homoeopathy

The Central Board of Direct Taxes (CBDT) has notified the income tax exemption to the Maharashtra Council of Homoeopathy.The Board empowered under section 10 (46) of the Income-tax Act, 1961 has exempted the Maharashtra Council of Homoeopathy which is a Body established under clause No 14 of the Maharashtra Homoeopathy Practitioners’ Act, 1960 by the Maharashtra Government from income...

Tax Cases Weekly Round-Up: 19 November To 25 November, 2023

Delhi High Court Reassessment Notice Severed At Old Address Despite Knowing Assessee’s New Address: Delhi High Court Quashes Assessment Order Case Title: PCIT Versus M/S Dart Infrabuild (P) Ltd. The Delhi High Court has quashed the assessment order as the notice under Section 148 was improperly served as it was sent to the old address, despite the fact that the department was...

MRF Entitled To Re-Credit Of CENVAT Credit If Capital Goods Are Put To Use In Manufacture Of Final Products: CESTAT

The Chennai Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the assessee, MRF is entitled to a re-credit of cenvat credit if capital goods are put to use in the manufacture of final products.The bench of Vasa Seshagiri Rao (Technical Member) has observed that the assessee has provided sufficient documentary evidence pertaining to the utilization of inputs...

Services Of Procuring Export Orders From Foreign Buyers For Garment Manufacturers, Not ‘Intermediary’ Service: CESTAT

The Chennai Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the services of procuring export orders from foreign buyers for manufacturers who supplied garments are not ‘intermediary’ services.The bench of Sulekha Beevi C.S. (Judicial Member) and Vasa Seshagiri Rao (Technical Member) has observed that since all these services are rendered by the appellant...

Income From Sale Of Tender Forms, Xeroxing, Printing, Digital Software, Certificates Not Covered Under Business Auxiliary Services: CESTAT

The Hyderabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that income such as the sale of tender forms, xeroxing and printing, and digital software and certificates are not covered under business auxiliary services.The bench of Anil Choudhary (Judicial Member) and A.K. Jyotishi (Technical Member) has observed that the appellant would only assist the...

“Badam Milk Drink-Ready To Drink” Classifiable Under CTH 2202 9030: CESTAT

The Bangalore Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that “badam milk drink-ready to drink” is classifiable under CTH 2202 9030.The bench of D.M. Misra (Judicial Member) and Pullela Nageswara Rao (Technical Member) observed that Badam Milk Drink—Ready to Drink contains flavourings, namely badam powder, cardamom, saffron, and maltodextrin, and...

ITAT Allows Section 80P Deduction On Interest Income Arising From Deposits/Investments Made With Co-Operative Bank

The Visakhapatnam Income Tax Appellate Tribunal (ITAT) has held that there is a deduction under Section 80P of the Income Tax Act on interest income arising from deposits or investments made with cooperative banks.The bench of Duvvuru Rl Reddy (Judicial Member) and S Balakrishnan (Accountant Member) has observed that the cooperative society is eligible for deduction under Section 80P(2)(a)(i)...

Appellant Was Pursuing Review Petition In Good Faith, Delhi High Court Condones Delay In Filing Appeal Against ITAT Order

The Delhi High Court has condoned a 79-day delay in filing an appeal as a review petition was filed before the Income Tax Appellate Tribunal (ITAT).The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed that the time spent by the applicant while pursuing the review proceedings deserves to be excluded even under principles analogous to Section 14 of the Limitation...

Section 148A(b) Notice Not Specifically Served On Assessee: Punjab And Haryana High Court Imposes Rs. 10K Cost On Dept.

The Punjab and Haryana High Court has imposed a cost of Rs. 10K on the income tax department and quashed the order under Section 148A(d) of the Income Tax Act and the notice under Section 148 of the Income Tax Act.The bench of Justice G.S. Sandhawalia and Justice Lapita Banerji has observed that the notice under Section 148A(b) of the Income Tax Act dated March 19, 2022, not having...

Income Tax Dept. Can Share Taxpayer's Information With Deputy Director General Of UIDAI: CBDT

The Central Board of Direct Taxes (CBDT) has notified that the income tax department can share taxpayer's information with the deputy director general of the Unique Identification Authority of India (UIDAI).“In pursuance of sub-clause (ii) of clause (a) of sub-section (1) of section 138 of the Income-tax Act, 1961, the Central Government hereby specifies Deputy Director General...