Prior Approval Of The Superior Officer Before Passing Of The Assessment/Reassessment Order Pursuant To A Search Operation Is A Mandatory Requirement: Orissa High Court

The Orissa High Court has held that the requirement of prior approval of the superior officer before an order of assessment or reassessment is passed pursuant to a search operation is a mandatory requirement of Section 153D of the Income Tax Act.The division bench of Chief Justice S. Muralidhar and Justice M.S. Raman has observed that approval of the superior officer before an order of...

Non-Service Of Assessment Orders Inconsequential If Assesee Had Knowledge About Them Otherwise : Supreme Court

Attachment orders issued by the revenue for tax arrears will not be vitiated merely because the assessment orders were not served on the assesse, if the assessee had otherwise got knowledge about the assessment orders, held the Supreme Court recently.On this ground, the Supreme Court restored the attachment orders issued under the APGST Act and Telangana VAT Act, which were set aside by...

Confusion In Relation To The Service Of Intimation Through Email: ITAT Condones Delay Of 9 Years

The Amritsar Bench of the Income Tax Appellate Tribunal (ITAT) ruled that there was significant ambiguity regarding the service of notice under Section 143(1) to the assessee via email.The two-member bench of Anikesh Banerjee (Judicial Member) and Dr. M. L. Meena (Accountant Member) has observed that there has been a delay of 9 years, which is a huge delay for adjudicating the appeal by...

Fee Earned By APMC For Regulating Poultry Market, Exempt Under S. 10(26AAB) of Income Tax Act: Delhi High Court

The Delhi High Court has ruled that the income/ fee earned by an Agricultural Produce Marketing Committee (APMC) for regulating the poultry market, would fall within the scope of Section 10(26AAB) of the Income Tax Act, 1961, and thus the same would be exempt from income tax. Rejecting the argument of the revenue department that unless income which is earned by an APMC is relatable...

Reassessment Notices Issued After Elapse Of Six Years: Gujarat High Court Quashes Assessment

The Gujarat High Court has held that the reassessment notices were issued after the lapse of six years and are therefore time-barred.The single bench of Justice Sonia Gokani has observed that the board's circulars and instructions are binding only on the departmental authorities and not on the court or the assessee.The petitioners/assessees challenged the reassessment notice dated July 26,...

Track Your Taxes And TDS Just On A Click: Income Tax Department Launches AIS Application

The Income Tax Department has launched a Mobile app for Taxpayers to view Annual Information Statements (AIS).AIS App is a free mobile application, provided by the Income Tax Department, Government of India. The app is meant to provide a comprehensive view of the Annual Information Statement (AIS), which is a collection of various information pertaining to a taxpayer. Taxpayers can...

Service Tax Not Payable On The Service Charges For Prepayment Of Loan Amount By The Customer: CESTAT

The Delhi Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that service charges for pre-payment or foreclosure of loan amounts by the customer cannot be treated as taxable services and are not chargeable to service tax.The two-member bench headed by Justice Dilip Gupta (President) and Hemambika R. Priya (Technical Member) has observed that foreclosure...

Income Earned From Offshore Supply Of Escalators And Elevators Is Not Taxable In India: ITAT

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has observed that income earned by the assessee from the offshore supply of escalators and elevators is not taxable in India.The two-member bench of G.S. Pannu (President) and Sandeep Singh Karhail (Judicial Member) have observed that the property in goods passes on to the buyer at the port of shipment. Though the cost,...

Excise Duty Not Payable On Scrap Sent To The Job Workers For Manufacture Of Angles And Channels: CESTAT

The Chennai Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that excise duty is not payable on the scrap that has been sent to the job workers for the manufacture of intermediate products such as angles and channels.The two-member bench of Sulekha Beevi C.S. (Judicial Member) and Vasa Seshagiri Rao (Accountant Member) has observed that the Department has...

Late Filing Of Return, Denial Of Section 80P Exemption Not Justified: ITAT

The Rajkot Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that denying the exemption under Section 80P of the Income Tax Act solely on the basis of the assessee's late filing of a return is not justifiable.The two-member bench of Suchitra Kamble (Judicial Member) and Waseem Ahmed (Accountant Member) has relied on the decision of the Kerala High Court in the case of Chirakkal...

Service ​​Provider Deploying Employees In Manufacturing Premises For Specified Job Works Can’t Be Held As Manpower Supply Services: CESTAT

The Delhi bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has ruled that where the service provider has deployed his employees in the assessee's manufacturing premises for specific job works, it cannot be considered manpower supply services.The two-member bench of Justice Dilip Gupta (President) and Hemambika R. Priya (Technical Member) has observed that the supply...

CBDT Notifies e-Verification Scheme To Encourage Voluntary Tax Compliance

The Central Board of Direct Taxes (CBDT) has issued a press release introducing the e-Verification Scheme to encourage voluntary tax compliance and facilitate a transparent and non-intrusive tax administration.Using information technology effectively, the scheme aims to share and verify the financial transaction information with the taxpayer, which appears to be either unreported or...