Tax
CBDT Notifies New Monetary Limits For Condonation Of Delay In Filing Refund Claim And Claim Of Carry Forward Of Losses
The Central Board of Direct Taxes (CBDT) has issued new monetary limits in respect of condonation of delay in filing refund claim and claim of carry forward of losses under Section 119(2)(b) of the Income-tax Act, 1961.The Principal Commissioners of Income-tax/Commissioners of Income-tax (Pr. CsIT/CSIT) shall be vested with the powers of acceptance/rejection of applications/claims if the...
Tax Cases Monthly Round-Up: May 2023
Supreme CourtNo Service Tax Applicable on User Development Fee collected From Passengers by Delhi, Mumbai and Hyderabad International Airports: Supreme CourtCase Title: Central GST Delhi – III vs Delhi International Airport LtdCitation : 2023 LiveLaw (SC) 457The Supreme Court has ruled that the “user development fee” (UDF) levied and collected by the airport operation, maintenance,...
Gift From Family Members Do Not Require Any Special Occasion: ITAT Deletes Addition
The Indore Bench of the Income Tax Appellate Tribunal (ITAT) has deleted that addition and held that gifts from family members do not require any special occasion.The bench of Vijay Pal Rao (Judicial Member) and B.M. Biyani (Accountant Member) has observed that all sources explained by the assessee were genuine except the gift of Rs. 1,00,000 claimed to have been received from the...
CBDT Notifies e-Appeals Scheme, 2023
The Central Board of Direct Taxes (CBDT) has notified the e-Appeals Scheme, 2023.Except for the cases excluded under Section 246(6), the scheme shall apply to appeals involving persons or classes of persons, incomes or classes of incomes, cases or classes of cases covered by Section 246.A person shall not be required to appear either personally or through an authorized representative...
Show Cause Notice Bereft Any Specific Allegation, Delhi High Court Quashes GST Registration Suspension Order
The Delhi High Court has held that the Show Cause Notice was short of the necessary requirements as it did not contain any specific allegation.The bench of Justice Vibhu Bakhru and Justice Amit Mahajan has observed that the show cause notice is required to set out the relevant material in order to enable the noticee to meaningfully respond to it.The petitioner has challenged a Show Cause...
Dept. Initiated Reassessment By Deviating From Prior View Without Any Cogent Reasoning: Delhi High Court Quashes Reassessment Notices
The Delhi High Court has quashed the reassessment notices on the grounds that the department has initiated reassessment by deviating from prior views without any cogent reasoning.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed that the reassessment notice and order suffered from two infirmities, namely that it was proceeded on a view inconsistent with the...
Taxpayers Filing Declaration Under SVLDR Scheme Can’t Quantify The Duty Under Indirect Taxes: Delhi High Court
The Delhi High Court has held that taxpayers filing declarations under the Sabka Vishwas (Legacy Dispute Resolution) Scheme Rules, 2019 (SVLDR Scheme) cannot quantify the duty under indirect taxes.The bench of Justice Yashwant Varma and Justice Dharmesh Sharma has observed that in terms of Section 121(r) of the Finance Act, 2019, the word "quantified" means a written communication of the...
Non-Supply Of Survey Report, Delhi High Court Stays Reassessment Proceedings Against Centre For Policy Research
The Delhi High Court has stayed the reassessment proceedings against the Centre for Policy Research.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed that the entire survey report was not submitted to the petitioner; only the relied-upon portion of the survey report was provided to the petitioner.The petitioner has assailed the notices dated March 28, 2023, and...
Interest On Delayed Service Tax Refund Payable On Expiry Of 3 Months From Application: CESTAT
The Chandigarh Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that interest on delayed service tax refunds is payable on the expiration of 3 months from the date of application.The bench of S. S. Garg (Judicial Member) has observed that under Section 11BB of the Act, interest is payable after the expiration of 3 months from the date of receipt of...
Uttar Pradesh Jal Nigam Is Not A Local Authority: AAAR Denies Concessional Rate Benefit On Works-Contract Services
The Uttar Pradesh Appellate Authority of Advance Ruling (AAAR) has held that Uttar Pradesh Jal Nigam (UPJN) is not a local authority and 18% GST is payable on the works-contract services.The Bench of Uma Shankar and Ministhy S, while upholding the ruling of the Authority of Advance Ruling (AAR) observed that by way of Notification No. 15/2021-Central Tax (Rate) dated November 18, 2021, the...
Power To Collect Entertainment Tax No Longer Vest In The State After 101st Amendment: Patna High Court
The Patna High Court has held that the power to collect entertainment tax would no longer vest in the state after the 101st Amendment.The bench of Chief Justice K. Vinod Chandran and Justice Madhuresh Prasad has observed that the 101st Constitution Amendment Act substituted Entry 62 of List II to the extent that the power to levy and collect entertainment tax was bestowed only upon...
CBDT Proposes Changes To Rule 11UA In Respect Of Angel Tax, Notifies Excluded Entities
The Central Board of Direct Taxes (CBDT) has proposed the changes to Rule 11UA in respect of Angel Tax and has also notified the excluded entities.In the Finance Act, 2023, an amendment has been introduced to bring the consideration received from non-residents for the issue of shares within the ambit of Section 56(2)(viib) of the Income-tax Act, 1961. It provides that if such consideration...