Tax
Once Additions Made Under Black Money Act The Same Addition Cannot Be Made Under Income Tax Act: ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that once additions have been made under the Black Money Act, the same additions cannot be made under the Income Tax Act on the same set of facts.The bench of C.N. Prasad (Judicial Member) and N.K. Billaiya (Accountant Member) has upheld the order of the CIT(A), in which it was held that the addition so made by the AO amounts...
DGFT Lays Down Procedure For Applying For Amnesty Scheme For One-Time Settlement Of Default In Export Obligation
The Director General of Foreign Trade (DGFT) has laid down the procedure for applying for the amnesty scheme for one-time settlement of default in export obligations by Advance and Export Promotion Capital Goods (EPCG) authorization holders.The application for AA/EPCG discharge or closure shall be filed online by logging onto the DGFT website.The applicant shall select the checkbox for...
Chhattisgarh High Court Allows Reimbursement Of Additional Tax Liability On Companies Involved In Construction In Pre-GST Regime
The Chhattisgarh High Court has allowed the reimbursement of additional tax liabilities on companies involved in construction in the pre-GST regime.The bench of Justice Rajani Dubey has directed that the petitioners shall make a fresh claim before the respondent authorities, agitating their grievance, and upon the claim being made, the respondent authorities shall proceed ahead with the...
Penalty Leviable Under S. 45 of the Gujarat Sales Tax Act, 1969 Is Statutory And Mandatory; Commissioner/AO Has No Discretion: Supreme Court
The Supreme Court has ruled that the penalty and interest leviable under Sections 45(6) and 47(4A) of the Gujarat Sales Tax Act, 1969, respectively, are statutory and mandatory in nature and there is no discretion vested in the Commissioner/Assessing Officer to levy or not to levy the penalty and interest other than as prescribed.The bench of justices M.R. Shah and B.V. Nagarathna held that...
Credit Of CVD Paid Through Debit In DEPB Scheme Is Admissible: CESTAT Allows Cenvat Credit To Hindustan Zinc
The Delhi Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has allowed the Cenvat Credit to Hindustan Zinc and held that credit of CVD paid through debit in the Duty Entitlement Passbook Script (DEPB) Scheme is admissible, and the bills of entry assessed by the customs authorities have not been bifurcated between CVD and Cess.The bench of Ajay Sharma (Judicial Member)...
Reimbursable Expenses Are Not Includible In The Taxable Value Of The Service: CESTAT
The Kolkata Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that reimbursable expenses are not includible in the taxable value of the service in terms of Rule 5(1) of the Service Tax (Determination of Value) Rules, 2006.The bench of Ashok Jindal (Judicial Member) and Rajeev Tandon (Technical Member) has relied on the decision of the Delhi High Court in the...
Tax Cases Weekly Round-Up: 9 April to 15 April, 2023
Supreme CourtMere Delay In Remittance Of TDS Doesn’t Attract Penalty Under S 271C Income Tax Act: Supreme CourtCase Title: M/s US Technologies International Pvt Ltd vs. The Commissioner of Income Tax Citation : 2023 LiveLaw (SC) 285The Supreme Court has ruled that no penalty is leviable under Section 271C of the Income Tax Act, 1961 on mere delay in remittance of the tax deducted at...
Suspension Of The Licence Of Broker Is Not Warranted After The Investigation And Issue Of Show Cause Notice: CESTAT
The Kolkata Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that suspension of the license is not warranted after investigation and the issuing of a show cause notice.The bench of P.K. Choudhary (Judicial Member) and K. Anpazhakan (Technical Member) has observed that immediate suspension of the customs broker is warranted when there is an apprehension that...
CESTAT Allows Service Tax Refund On Construction Services Of Complex Provided By The Cooperative Housing Society
The Ahmedabad Bench of the Customs, Excise, and Services Tax Appellate Tribunal (CESTAT) has allowed the service tax refund on the construction of complexes provided by the appellant’s cooperative housing society.The bench of Ramesh Nair (judicial member) and C.L. Mahar (technical member) has noted that cooperative societies have not taken the services of a contractor for the construction...
Services Provided By Branch Office To Head Office And Vice Versa Will Attract GST: AAR
The Tamil Nadu Authority for Advance Ruling (AAR) has held that the services, including those of common employees of a person, provided by branch offices to the head office and vice versa, each having a separate GST registration, will attract GST.The bench of R. Gopalsamy and N. Usha has observed that even the services of employees deployed from a registered place of business to...
Allahabad High Court Directs Department To Release The Seized Goods On The Condition Of Payment Of 200% Of The Tax Payable
The Allahabad High Court has directed the department to release the seized goods on the condition of payment of 200% of the tax payable on the goods valued at the same on the basis of the valuation as shown in the invoice.The bench of Justice Pankaj Bhatia has observed that the value of the goods in transit is to be determined in accordance with the provisions of Section 15 declared in...