Tax
Nothing New Happened Between The Date Of Reassessment Order And The Date Of Forming The Opinion By AO: Bombay High Court Quashes Reassessment Order
The Bombay High Court has quashed the Reassessment Order and held that between the date of the order of assessment sought to be reopened and the date of the formation of an opinion by the Assessing Officer, nothing new has happened. There was no new information received, nor was there any mention of new material on file.The division bench of Justice Dhiraj Singh Thakur and Justice Valmiki...
GSTN Issued Advisory On Facility Of ‘Initiating Drop Proceedings’ Of Suspended GSTINs Due To Non-filing Of Returns
The Goods and Service Tax Network (GSTN) has issued an advisory on the facility of ‘Initiating Drop Proceedings’ of Suspended GSTINs due to Non-filing of Returns.On the GST Portal, a feature known as "Automated Drop Proceedings" has recently been introduced for GSTINs that have been suspended because returns have not been filed.For taxpayers who have submitted their pending returns, such...
Rajasthan High Court Grants Bail To Accused On The Payment Of GST Evasion Amount
The Rajasthan High Court has granted bail to the accused as he has already paid the amount of alleged GST evasion.The single bench of Justice Mahendra Kumar Goyal has released the accused on bail on furnishing a personal bond of Rs. 1,00,000 together with two sureties in the sum of Rs. 50,000 each to the satisfaction of the trial court.The petitioner was arrested in connection with the...
Assessee Not Entitled for Deduction without A Certificate Declaring The Warehouse as Part Of The Port: Bombay High Court
The Bombay High Court has held that the assessee cannot claim the deduction under Section 80IA(4) of the Income Tax Act in the absence of a certificate declaring the warehouse to be part of the port.The division bench of Justice Dhiraj Singh Thakur and Justice Kamal Khata has observed that the Jawaharlal Nehru Port Trust (JNPT) has declined to issue a certificate that the warehousing of...
Impossible For A Company To Get Its Accounts Audited On 31st March And Get The Approval In AGM On The Same Date: ITAT Upholds Addition
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that it is impossible for a company to get its accounts audited on 31st March and present the same for approval in the Annual General Meeting on March 31st.The two-member bench of Kul Bharat (Judicial Member) and N.K. Billaiya (Accountant Member), while upholding the addition under Section 56(2)(viib), observed that...
Consideration For Advisory Services Not Taxable As Fees For Included Services Under India-US DTAA: Calcutta High Court
The Calcutta High Court has reiterated that consideration for advisory services cannot be treated as Fees for Included Services under Article 12(4)(b) of the India-US Double Taxation Avoidance Agreement (DTAA). The Court thus upheld the ITAT’s order setting aside the additions made to the foreign assessee Company’s income for the compensation received by it for...
Tax Cases Weekly Round-Up: 08 January To 14 January 2023
Supreme Court Income Tax Act | Writ Petition Can Be Entertained To Examine If Conditions To Issue Section 148 Notice Are Satisfied : Supreme Court Case Title: Red Chilli International Sales Versus ITO Citation: 2023 LiveLaw (SC) 16 The Supreme Court recently set aside an order of the Punjab and Haryana High Court which dismissed a writ petition filed by an assessee against...
18% GST Applicable On Services Of Project Management Consultancy Services: Maharashtra AAAR
The Maharashtra Appellate Authority for Advance Ruling (AAAR) has ruled that project management consulting services are subject to 18% GST.The two-member bench of D.K. Srinivas and Rajiv Kumar Mittal has upheld the AAR’s ruling and observed that services provided through their professionals are in the nature of professional and technical services as the services provided require...
Salted, Flavoured Potato Chips, Chivda, Sev, Hing Bhujiya Attracts 12% GST: Gujarat AAR
The Gujarat Authority for Advance Ruling (AAR) has observed that 12% GST is applicable on salted and flavouring potato chips, chivda, sev, and hing bhujiya.The two-member bench of Amit Kumar Mishra and Milind Kavatkar has observed that the supply of food products namely salted and flavoured Potato Chips, Potato Sev (Aloo Sev), Potato Chivda (Potato Salli Mixture), Hing Bhujiya, Sev Mamra...
GSTN Issues Advisory On “Initiating Drop Proceeding” By Taxpayers
The Goods and Service Tax Networks (GSTN) has issued an advisory on “Initiating Drop Proceeding” by taxpayers.On the GST Portal, a feature known as Automated Drop Proceedings of GSTINs suspended due to non-filing of returns has recently been introduced. The taxpayers who have submitted their pending 6 monthly or 2 quarterly returns are eligible for this functionality.The GSTN has...
CBIC Issues Clarification Regarding GST Rates And Classification Of Goods On 48th GST Council Recommendation
The Central Board of Indirect Taxes and Customs (CBIC) has issued the clarification regarding GST rates and classification of certain goods based on the recommendations of the GST Council in its 48th meeting held on 17th December 2022.1. 18% GST Applicable On RabRab can be correctly classified under the heading 1702 and is subject to an 18% GST rate.A request for clarification regarding...
Circular Regarding Mismatch Of ITC Is Applicable For 2019-20 In Case Of Identical Errors: Karnataka High Court
The Karnataka High Court has held that the circular regarding the mismatch of input tax credit (ITC) is applicable for 2019–20 in the case of identical errors."Though the Circular refers only to the years 2017–18 and 2018–19, since there are identical errors committed by the petitioner not only in respect of the assessment years 2017–18 and 2018–19 but also in relation to the...