Tax
Alternative Remedy Is Not Absolute Bar To Examine Conditions To Issue Reassessment Notice: Madhya Pradesh High Court
The Madhya Pradesh High Court stayed the reassessment proceedings and admitted them for the final hearing.The division bench of Justice S.A. Dharmadhikari and Justice Prakash Chandra Gupta has relied on the decision of the Supreme Court in the case of Red Chilli International Sales Vs. Income Tax Officer & Anr., in which it was held that writ petitions have been entertained to examine...
Tax Cases Monthly Round-Up: February 2023
Indirect Taxes Delhi High Court Budgetary Support Under GST Regime Can’t Be Denied To Eligible Unit: Delhi High Court Case Title: M/s Special Cables Pvt Ltd versus Central Board of Indirect Taxes and Customs & Ors. Citation: 2023 LiveLaw (Del) 120 The Delhi High Court has directed the revenue authorities to grant budgetary support to a manufacturing unit under...
Payment Towards Employee’s Contribution To Provident Fund After Due Date Is Not Allowable As Deduction: ITAT
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that payment towards an employee’s contribution to the provident fund after the due date is not allowable as a deduction.The two-member bench of Sandeep Singh Karhail (Judicial Member) and Om Prakash Kant (Accountant Member) has relied on the Supreme Court's decision in the case of Checkmate Services (P.) Ltd. and ruled...
Centralized Processing Centre Not Authorized To Carry Out Adjustment For Disallowance Of Section 80P Deduction: ITAT
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the Centralised Processing Centre (CPC) was not authorized to carry out such adjustments for disallowance of deduction under section 80P of the Income Tax Act.The two-member bench of Pavan Kumar Gadale (Judicial Member) and Om Prakash Kant (Accountant Member) observed that the assessment year 2007-08 occurred prior to...
Amounts Paid By Google India To Google US For Seconded Employees Does Not Come Within ‘FTS’ or ‘FIS’: ITAT
The Banglore Bench of the Income Tax Appellate Tribunal (ITAT) has held that amounts paid by Google India to Google US with reference to seconded employees do not come within the fees for technical services (FTS) or fees for included services (FIS) under the Income Tax Act or under the India-US Tax Treaty.The two-member bench of George George K. (Judicial Member) and Padmavathy S....
Income Tax Demand On OYO For 1,140 Cr: Delhi High Court Directs CIT To Give Personal Hearing
The Delhi High Court has directed the Commissioner of Income Tax (CIT) to accord a personal hearing to OYO for the stay on the income tax demand of Rs. 1,140 crores.The division bench of Justice Rajiv Shakdher and Justice Tara Vitasta Ganju has observed that the CIT has not dealt with its application, which was preferred before him, in respect of the order passed by the Assessing Officer...
Bombay High Court Quashes Income Tax Proceedings On The Ground That S. 148 Notice Was Served On Secondary Email Id Provided In PAN
The Bombay High Court has set aside the proceedings initiated by the revenue authorities against the assessee for non-compliance of the reassessment notice issued under Section 148 of the Income Tax Act, 1961, on the ground that the notice was served on the secondary email id registered with the PAN database instead of the registered primary email id or the updated email id mentioned by...
GST Payable On Additional Surcharge Collected From Open Access Consumer Under Electricity Act: AAR
The Karnataka Authority for Advance Ruling (AAR) has held that the additional surcharge collected from open-access consumers as per Section 42 of the Electricity Act, 2003, is taxable under the GST Act.The two-member bench of M.P. Ravi Prasad and Kiran Reddy T. has observed that Chamundeshwari Electricity Supply Corporation Limited cannot be considered either a "governmental authority" or...
ITAT Deletes Addition On Cash Deposits During Demonetisation
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has deleted the addition of cash deposits during demonetization.The bench of R.S. Syal (Vice President) has observed that the assessee sold their ancestral agricultural land in 2013 for a sum of Rs. 38 lakhs along with his brother. The assessee’s share was Rs. 19 lakh. The assessee's share of Rs. 19 lakhs in cash was kept with...
Dealers, Applying For Government Tenders To Verify GSTIN Status Through Peridot App: Jammu & Kashmir Govt.
The Finance Department of Jammu and Kashmir has issued a circular directing the dealers or contractors applying for government tenders to verify their GSTIN status and authenticate their GST return through the Peridot App.The government stated that dealers and contractors whose GSTINs have been canceled or deactivated are applying for government tenders with the submission of fake or forged...
Supply Of Ready To Eat And Ready To Cook Food Products Attracts 18% GST: Karnataka AAR
The Karnataka Authority for Advance Ruling has ruled that 18% GST is applicable on the supply of ready-to-eat and ready-to-cook food products.The two-member bench of M.P. Ravi Prasad and Kiran Reddy T. has observed that all kinds of food mixes, including instant food mixes, soft drink concentrates, Sharbat, the betel nut product known as "Supari," sterilized or pasteurized millstone,...
Assessment Can’t Be Reopened Based On Another Director’s Disclosure Of Income Differently Received: Bombay High Court
The Bombay High Court has held that the fact that a different director of the same company disclosed the income received in a different way cannot be used as justification to reopen the assessment.The division bench of Justice Dhiraj Singh Thakur and Justice Kamal Khata observed that the reopening of the assessment was based on a change of opinion, conjectures, and assumptions, as well as...