Tax
CESTAT Allows Service Tax Refund On Advance Amount Returned To The Buyer, Upon The Cancellation Of The Flats Booking
The Mumbai Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has allowed service tax refunds on advance amounts returned to the buyer upon cancellation of the flat booking.The bench of Ajay Sharma (a judicial member) has observed that once the buyer cancelled the booking and the consideration for service was returned, the service contract got terminated, and once it...
GST Registration Cancellation With Retrospective Effect Can’t Be A Ground To Deny GST ITC To The Buyer: Calcutta High Court
The Calcutta High Court, while noting that at the time of the transaction, the name of the supplier as a registered taxable person was already available with the government record, and the buyer/petitioner had paid the amount of the purchased articles as well as tax through the bank and not in cash, remanded the matter back to the department.The bench of Justice Krishna Rao has observed that...
Joint Ownership Of The Property Is No Bar In Claiming Exemption Under Section 54F Of The Income Tax Act: ITAT
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has allowed the deduction under Section 54F of the Income Tax Act on the grounds that the assessee is not the exclusive owner of multiple residential properties occupied by other family members.The bench of Kavitha Rajagopal (Judicial Member) and Om Prakash Kant (Accountant Member) has observed that the joint ownership of the...
Look Out Circulars Violates Fundamental Right Of Movement, Banks Can’t Make It A Recovery Norm: Calcutta High Court
The Calcutta High Court has held that the Look Out Circulars causes an immediate and irrevocable violation of a person’s fundamental right to movement."Look Out Circulars," which have the effect of restricting a person's free movement and the right to travel, should only be issued in exceptional circumstances. Lookout Circulars cannot be issued at random or at the slightest...
Interest Income Received On Temporary FDs Is Eligible For Exemption: ITAT
The Banglore Bench of the Income Tax Appellate Tribunal (ITAT) has held that interest income received on temporarily fixed deposits is eligible for exemption.The bench of George George K. (Judicial Member) and Laxmi Prasad Sahu (Accountant Member) has relied on the decision of the Karnataka High Court in the case of CIT Vs. Hewllett Packard Soft Ltd. in which it was held that the assessee...
Services Rendered By Indian Commission Agent To Foreign Principal Will Qualify As Export Of Service: CESTAT
The Mumbai Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the services rendered by Indian commission agents to foreign principals will qualify as "export of service.The bench of Justice Dilip Gupta (President), P.A. Augustian (Judicial Member), and C.J. Mathew (Technical Member) has observed that export of services would take place under rule 3(1)(iii)...
GST Is Payable On Substance Use Disorder As It Is Out Of Ambit Of Health Care Services: Rajasthan AAR
The Rajasthan Authority of Advance Ruling (AAR) has held that Goods and Service Tax (GST) is payable on substance use disorder as it is outside the ambit of health care services.The Bench of Umesh Kumar Garg and Mahesh Kumar Gowia has observed that services for the prevention and treatment of substance misuse and substance use disorders have traditionally been delivered separately from...
Punjab & Haryana High Court Impedes Coercive Actions Against Online Opinion Betting App In Respect Of Rs. 1500 Crore GST Notice
The Punjab and Haryana High Court impeded coercive actions against the online opinion betting app, Probo Media Technologies, in respect of the GST Notice demanding Rs. 1500 crore.The bench of Justice Ritu Bahri and Justice Manisha Batra has stated that no coercive steps for the recovery of the amount demanded in the show cause notice shall be taken and further ordered that 50% of the...
Punjab And Haryana High Court Directs GST Dept. To Return Illegally Recovered GST Without Issuing SCN Along With 6% Interest
The Punjab and Haryana High Court has directed the GST Department to return illegally recovered GST without issuing a Show Cause Notice, along with 6% interest.The bench of Justice Ritu Bahri and Justice Kuldeep Tiwari has observed that it is the duty of the officer to inform the taxpayers regarding the provisions of voluntary tax payment through DRC-03. However, the petitioner has deposited...
Tax Cases Weekly Round-Up: 4 June To 10 June, 2023
Delhi High CourtDelhi High Court Directs Dept. To Reconsider Travelport UK’s Refund AdjustmentCase Title: Travelport International Operations Limited United Kingdom Versus Commissioner Of Income Tax International Taxation 3 N.Delhi & Ors.Citation: 2023 LiveLaw (Del) 506The Delhi High Court has directed the department to reconsider Travelport UK’s refund adjustment on the basis of...
200% Penalty Can’t Be Levied Unless Dept. Specifies Misreporting: ITAT
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that a 200% penalty can’t be levied unless the department specifies misreporting.The bench of Aby T. Varkey (Judicial Member) and Om Prakash Kant (Accountant Member) has observed that AO failed to bring the addition or disallowance he made in quantum assessment under the ken of (a) to (f) of Section 270A (9) of the Act,...
Benefits Of India- Mauritius DTAA Available To Collective Investment Vehicles: ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that the benefits of the Double Taxation Avoidance Agreement (DTAA) are available to collective investment vehicles.The bench of Saktijit Dey (Judicial Member) and Dr. B. R. R. Kumar (Accountant Member) has observed that the TRC is statutorily the only evidence required to be eligible for the benefit under the DTAA, and...