Assessee Not Responsible To Explain Recipients Of Receipts Shown In Form No. 26AS: ITAT

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the assessee is not responsible to explain the recipients of the receipts shown in Form No. 26AS.The two-member bench of Anubhav Sharma (Judicial Member) and N.K. Billaiya (Accountant Member) while deleting the additions observed that the Assessing Officer should have asked the payer, for details of the payee to whom...

Amount Deposited In The Personal Ledger Account Until It Is Not Debited Towards Duties Is Property Of The Assessee: CESTAT

The Mumbai Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the amount deposited in the Personal Ledger Account (PLA) until such time as it is not debited towards duties is the property of the appellant.The bench of Anil G. Shakkarwar (Technical Member) has observed that the amount deposited in PLA is an advance kept by the assesses with the exchequer,...

Central Excise Duty Not Payable On Capital Subsidy Received From State Government In Form Of Sales Tax Challan 37B: CESTAT

The Delhi Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has observed that central excise duty is not payable on capital subsidies received from the state government in the form of sales tax challan 37b.The bench of Justice Dilip Gupta (President) has observed that capital subsidy received from the state government in the form of Sales Tax Challan 37B and...

Reasons Recorded For Reopening The Reassessment To Be Examined On Standalone Basis To Determine The Validity Of Proceedings U/s 147: ITAT

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has observed that the reasons, as recorded for reopening the reassessment, are to be examined on a standalone basis to determine the validity of proceedings under Section 147 of the Income Tax Act.The two-member bench of Sandeep Singh Karhail (Judicial Member) and M. Balaganesh (Accountant Member) relied on the Bombay High...

Failure Of Kidney A Reasonable Cause Which Prevented Assessee To Supply The Documents And Replies To The AO: ITAT

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that failure of the kidney was a reasonable cause of ailment that prevented the assessee from supplying the documents and replies to the AO.The two-member bench of Astha Chandra (Judicial Member) and Shamim Tahya (Accountant Member) has directed that the additional evidence and submissions made before the CIT(A) be accepted...

Karnataka High Court Permitted Superintendent of Central Tax To Pass Orders For Revoking Cancellation Of GST Registration On Filing Returns

The Karnataka High Court has permitted the Superintendent of Central Tax to pass suitable orders for revocation of the cancellation of the GST registration, if the petitioner/assessee files returns.The single bench of Justice B. M. Shyam Prasad has observed that the cancellation of GST registration was without due opportunity and was arbitrary.The petitioner submitted that the respondent...

Calcutta High Court Quashes Income Tax Notices Issued In The Name Of Non-Existing Company

The Calcutta High Court has quashed the income tax notice issued in the name of a non-existing company, in spite of the department having notice and knowledge of non-existence of the company.The single bench of Justice Md. Nizamuddin observed that the notice has been issued in the name of the company, which has already been amalgamated on December 12, 2016 with effect from April 1, 2015, and...

Architect Service, Telephone Expenses For Construction Of Hotel Are Input Services: CESTAT Allows Cenvat Credit On Service Tax

The Mumbai Bench of the Customs, Excise, and Service Tax Tribunal (CESTAT) has allowed the Cenvat Credit on Service Tax paid on architect services; telephone expenses, etc. for construction of hotel are input services.The bench of Anil G. Shakkarwar (Technical Member) has observed that CENVAT Credit on input services used to bring immovable property into existence is eligible for...

CESTAT Allows Cenvat Credit Of Service Tax Paid On Services Of Toilets Located In Port User Building

The Mumbai Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has allowed the CENVAT credit of service tax paid on services of toilets located in port-user buildings.The bench of Anil G. Shakkarwar (Technical Member) has observed that the territorial location cannot decide the admissibility of CENVAT credit under the provisions of Rule 2(l) of the CENVAT Credit Rules,...

Only Retail Sale Can Claim Assessment Benefits Under Section 4A Of Central Excise Act : Supreme Court

The Supreme Court has held that mere affixation of MRP does not make goods eligible for central excise duty exemption, and what is required along with the affixation is a mandate of law that directs the seller to affix such MRP.The Division Bench of Justice Krishna Murari and Justice Sudhanshu Dhulia has observed that where the purchaser institution is deemed to not be a consumer, the sale...

Mere NBFC Registration Not Enough Under Provision Of Service Tax For Levy: CESTAT

The Hyderabad Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that mere registration as an NBFC is not enough under the provision of service tax to levy.The two-member bench of Anil Choudhary (judicial member) and P. V. Subba Rao (technical member) has observed that the service provider should be both a company and have the principle business of...

ITAT Bangalore Holds Expenditure Incurred By Flipkart Towards ESOP Is Eligible For Deduction Under S. 37 Of ITA

The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) has allowed the appeal of Flipkart India against disallowance of over Rs.15.5 Crore of expenses claimed by it under Section 37 of the Income Tax Act, 1961, towards Employee Stock Ownership Plan (ESOP). Flipkart had claimed that the ESOP cross charge payments made to its Singapore based Holding Company...