Seized Cash Should Be Treated As Advance Tax As Per Law, There Was No Default In Payment Of Advance: Delhi High Court

The Delhi High Court has held that the seized cash was offered by the assessee, under the regime that was prevailing then, to be treated as the advance tax, and thus there was no default in payment of the advance. Although its payment or adjustment was triggered due to a search action,The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed that the petitioner had offered...

Initiation Of Revision Proceedings By Issuing Show Cause Notice And Passing Revision Order Without DIN Are Invalid: ITAT

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that the initiation of revision proceedings by issuing show cause notice and passing a revision order without a Document Identification Number (DIN) is invalid.The bench of T.R. Senthil Kumar (Judicial Member) and Annapurna Gupta (Accountant Member) have observed that the Office of the PCIT has literally not followed...

Appeal Against ITAT Order Dismissing Revenue’s Recall Application Does Not Lie Before High Court: Orissa High Court

The Orissa High Court has held that the order passed by the Income Tax Appellate Tribunal (ITAT) dismissing the department’s appeal on the ground of the low tax effect is appealable before the High Court under Section 260A of the Income Tax Act, 1961; however, an appeal against the ITAT order dismissing Revenue’s recall application does not lie before the High Court.The bench of Acting...

Reassessment Notice Severed At Old Address Despite Knowing Assessee’s New Address: Delhi High Court Quashes Assessment Order

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 aware of the new address.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed that no notice, under Section 143(2) of the Income Tax Act, was issued to the respondent or assessee...

CBDT Amends ITR -7 To Allow Taxable Income Of Assessees Eligible To File ITR -7 Liable For Tax Rate At The Rates Applicable To AOP

The Central Board of Direct Taxes (CBDT) has amended ITR -7 so as to allow taxable income of assessees eligible to file ITR -7 liable for tax rate at the rates applicable to AOP i.e. Slab rate applicable to Individuals.The Board has notified the Income-tax (Twenty-Seventh Amendment) Rules, 2023.Earlier to this amendment taxable income was liable for a 30% flat tax rate under section 115 BBI....

CBIC Notifies Biometric-Based Aadhaar Authentication Through GST Seva Kendras Approved For Andhra Pradesh

The Central Board of Indirect Taxes and Customs (CBIC) has notified the biometric-based Aadhaar authentication through Goods and Services Tax (GST) Seva Kendras has been approved for Andhra Pradesh.At the 50th GST Council Meeting, which took place in New Delhi on July 11, 2023, it was suggested that a risk-based biometric Aadhar authentication pilot program be carried out in Gujarat...

Parties Cannot Deem SGST And CGST As IGST Without Compliance With Taxation Enactment Provisions: Patna High Court

The Patna High Court has dismissed the writ petition filed by Vishwanath Iron Store, a partnership firm registered under the Bihar State Goods and Services Tax Act, seeking correction of a GST invoice for the purpose of availing input tax credit, while stating Understanding between parties cannot supersede the provisions of taxation laws.Chief Justice K. Vinod Chandran and Justice Rajiv...

CBIC Notifies Monetary Limits For Filing Appeals By Department Before CESTAT, High Courts And Supreme Court

The Central Board of Indirect Taxes and Customs (CBIC) has notified the monetary limits for filing appeals by the department before the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), High Courts and Supreme Court.The Board has notified the monetary limit of Rs. 2 Crores for the appellate forum namely the Supreme Court.The monetary limit of Rs. 1 Crore is notified for High...

Petitioner Failed To Avail Appeal Remedy, Can’t Invoke Of The Extraordinary Jurisdiction: Patna High Court

The Patna High Court recently ruled on a writ petition challenging an assessment order and the rejection of an appeal based on the limitation ground.The Court stated that the petitioner by his own failure had not availed the appellate remedy and in that circumstance, there can be no invocation of the extraordinary jurisdiction under Article 226 of the Constitution of IndiaThe...

Tax Cases Weekly Round-Up: 12 November To 18 November, 2023

Supreme Court UP VAT Act | Assessee Entitled To Claim Full Input Tax Credit On Exempted Goods Produced As By-Products Or Waste Products During Manufacturing Of Taxable Goods: Supreme Court Case details: M/S Modi Naturals Ltd v The Commissioner of Commercial Tax UP Case No.: 2023 LiveLaw (SC) 976 The Supreme Court while relying on Explanation (iii) to Section 13 of...

AO Lacked Tangible Material To Form A Belief That Income, Chargeable To Tax Had Escaped Assessment: Delhi High Court Quashes Reassessment Notice

The Delhi High Court has held that AO did not have the tangible material on record that could have persuaded him to form the belief that income, otherwise chargeable to tax, had escaped assessment.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia, the AO, did not employ diligence while triggering the reassessment proceedings against the petitioner or assessee. Because AO...

Delhi Gymkhana Club Exigible To Tax Under Delhi Tax On Luxuries Act, 1996: Delhi High Court

The Delhi High Court has held that Delhi Gymkhana Club is exigible to tax under the Delhi Tax on Luxuries Act, 1996.The bench of Justice Yashwant Varma and Justice Ravinder Dudeja has observed that the Delhi Tax on Luxuries Act, 1996, as it stood during the assessment period in question, extended its application also to the provision of residential accommodation in a club and, in any case,...