Tax
Tax Cases Weekly Round Up: 26 March To 1 April, 2023
Supreme Court Income Tax Act - Date Of Panchnama Last Drawn Starting Point Of Limitation For Completing Block Assessment Proceedings: Supreme Court Case Title: Anil Minda and Others Versus Commissioner of Income Tax Citation: 2023 LiveLaw (SC) 246 The Supreme Court has held that the date on which the Panchnama was last drawn is the starting point of the two-year limitation...
CBIC Amends The Rules Related To Biometric-Based Aadhaar Authentication And Risk-Based Physical Verification For GST Registration
The Central Board Of Indirect Taxes and Customs (CBIC) has amended the rules related to Aadhar Authentication and Biometric Verification Rules.The Board has notified the Central Goods and Services Tax (Amendment) Rules, 2023 which shall be effective from 26th December 2022.The Board has substituted Rule 8(4A) of the CGST Act, 2017.The date of submission of the application in cases shall be...
CBIC Waives Late Fees In Case Of FORM GSTR-4 For The Periods From July-2017 Till FY 2021-22
The Central Board Of Indirect Taxes and Customs (CBIC) has waived the late fees in the case of FORM GSTR-4 for the periods from July-2017 to FY 2021-22 where the total amount of central tax payable in the return is nil.The Central Government amended Notification No. 73/2017 dated the 29th December 2017. The notification relates to the extension waiver of the late fee for delay in filing...
CBIC Notifies Special Procedure In Respect Of Revocation Of Cancellation Of Registration
The Central Board Of Indirect Taxes and Customs (CBIC) has notified the special procedure in respect of the revocation of cancellation of registration.The Board has notified the special procedure in respect of the registered person, whose registration has been cancelled on or before the 31st December 2022, and who has failed to apply for revocation of cancellation of registration within the...
Tax Cases Monthly Round Up: March 2023
Indirect Taxes Supreme Court KVAT Act | Dealer Claiming Input Tax Credit Must Prove Transaction Beyond Reasonable Doubt : Supreme Court Case Title: State of Karnataka v. M/s. Ecom Gill Coffee Trading Private Limited Citation: 2023 LiveLaw (SC) 187 The Supreme Court has held that under Section 70 of the Karnataka Value Added Tax Act, 2003, a dealer claiming Input Tax...
Rule Whittling Down Input Taxes Refund Paid In Course Of Making A Zero-Rated Supply Is Ultra Vires: Karnataka High Court
The Karnataka High Court has an amendment to Rule 89(4) (C) of the CGST Rules by Notification 16/2020-CT dated 23.03.2020 is illegal, arbitrary, unreasonable, irrational, unfair, unjust, and ultra vires Section 16 of the IGST Act and Section 54 of the CGST Act.The Bench of Justice S.R.Krishna Kumar has observed that Rule 89(4)(C) of the CGST Rules is ultra vires Section 54 of the CGST Act...
Attachment Of Bank Accounts Is A Draconian Step, Attachment Is Subject To The Condition Mentioned U/s 83 Of GST Act: Delhi High Court
The Delhi High Court has held that attachment of bank accounts is a draconian step and the action can only be taken in case conditions specified in Section 83 of the GST Act, are fully satisfied.The bench of Justice Vibhu Bakhru and Justice Amit Mahajan has observed that it is not open for the department to attach the bank accounts of other persons on the mere assumption that the funds were...
Refund Claim Embedded In Return, No Need To File Fresh Claim: Delhi High Court Directs Dept. To Pay 6% Interest
The Delhi High Court has held that since the claim for a refund made by the assessee was embedded in its return and the assessee was not required to file a fresh claim.The division bench of Justice Rajiv Shakdher and Justice Tara Vitasta Ganju has directed the Department to pay interest within 4 weeks.The assessee filed its revised return on 10.07.2015 for the fourth quarter of the Financial...
Minimum Period Of 7 Days To Respond Is Mandatory, Non-Compliance is To Reassessment Proceedings: Punjab & Haryana High Court
The Punjab & Haryana High Court has held that a minimum period of seven days to respond as provided under Section 148A(b) of the Income Tax Act is mandatory in nature and non-compliance in this regard would be fatal to the reassessment proceedings.The division bench of Justice Ritu Bahri and Justice Amarjot Bhatti set aside the order under Section 148A(d) and consequential notice...
Refund Can’t Be Withheld On The Ground That Assessee Is Selected For Scrutiny Assessment; Delhi High Court Sets Aside Order Withholding Refund Due To OYO
The Delhi High Court has set aside the Revenue Department’s order withholding a refund of over Rs. 33 Crores due to OYO Hotels and Homes Pvt Ltd, while directing the department to reconsider OYO’s representations seeking disbursal of the refund amount, bearing in mind the provisions of Section 241A of the Income Tax Act, 1961. The bench of Justices Rajiv Shakdher and Tara...
ITAT Allows Section 54F Deduction Though Capital Gain Scheme Account Was Not Opened
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has allowed the deduction under section 54F though the capital gain scheme account was not opened.The two-member bench of V. Durga Rao (Judicial Member) and G. Manjunatha (Accountant Member) has observed that even though the assessee has not invested the sale proceeds in Capital Gain Account Scheme, but complied with the...
Central Excise Act- No Separate Notice Necessary For Recovery Of Erroneous Refund Granted: Supreme Court
The Supreme Court has held that no separate notice under Section 11A of the Central Excise Act is necessary for the recovery of an erroneous refund granted.The division bench of Justice M. R. Shah and Justice Krishna Murari has observed that once the order originally sanctioning the refund came to be set aside, there was no question of any further notice under Section 11A of the Central...