Tax
Physical verification of business premises; GST dept failed to issue notice : Delhi High Court
The Delhi High Court has held that the GST department failed to issue the notice to the person who must be present at the time of physical verification of business premises.The division bench of Justice Rajiv Shakdher and Justice Tara Vitasta Ganju has observed that the verification report, though generated, has not been uploaded, as required, in Form GST REG-30 on the common portal.A...
Tax Cases Weekly Round-Up: 13 November To 19 November 2022
Supreme CourtSec.194H Income Tax Act Attracted For 'Supplementary Commission' Earned By Travel Agents ; Airlines Liable To Deduct TDS : Supreme CourtCase Title: Singapore Airlines Ltd. vs C.I.T., Delhi Citation: 2022 LiveLaw (SC) 959 The Supreme Court held that Section 194H of the Income Tax Act is attracted in the case of Supplementary Commission amounts earned by the travel agent...
VAT Not Fee/Charge; Cannot Be Disallowed As Deduction Under Section 40(a)(iib) of Income Tax Act: ITAT
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that payment of Value Added Tax (VAT) by Tamil Nadu State Marketing Corporation, a State Government undertaking, is not a fee or charge, or an appropriation made by the State Government, and thus, it cannot be disallowed as deduction under the provisions of Section 40(a)(iib) of the Income Tax Act, 1961. The bench...
DGFT Extends Timeline for Export of Red Sanders Wood by Forest Environment & Climate Change Department
The Forest Environment and Climate Change Department of the Government of Odisha have been given until October 6, 2023, by the Directorate General of Foreign Trade (DGFT) to export red sanders wood."The Forest Environment and Climate Change Department, Government of Odisha, shall finalize the modalities for export of the Red Sanders Heart Wood in log form and shall complete the whole process...
CBIC Exempts Motor Car For Use of Governor of the State from Customs Duty
The Central Board of Indirect Taxes and Customs (CBIC) has exempted the import of motor cars for the use of the governor of the state from customs duty.The notification exempted the motor cars for the use of the Governor of the State from the whole of the duty on customs levied as per the rates specified in the First Schedule to the Customs Tariff Act, 1975, if imported or purchased out of...
ITAT Fastens Capital Gain Liability On Owner selling property through GPA Holder
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has fastened capital gain liability on owners executing General Power of Attorney (GPA) and selling property through GPA holders.The two-member bench headed by Mahavir Singh (Vice President) and G. Manjunatha (Accountant Member) has observed that the GPA has nowhere given possession to the GPA holder, and he has only executed the...
Assessment order passed against the dead person without bringing on record legal heirs is Void: Delhi High Court
The Delhi High Court has quashed the assessment order passed against the dead person without bringing on record all his legal representatives is void.The division bench of Justice Manmohan and Justice Manmeet Pritam Singh Arora has observed that the death of the assessee was duly communicated by his legal heirs. The ITR also duly disclosed that it was filed by the legal representative....
Income Tax Act does not impose any limitation for filing an application for condonation of delay: Kerala High Court
The Kerala High Court has held that Section 119(2)(b) of the Income Tax Act does not impose any limitation for the purposes of filing an application for condonation of delay.The single bench of Justice Gopinath P. has observed that it was completely wrong on the part of the department to treat the date of filing of the application for condonation of delay as the relevant date for the purpose...
Assessee Can't forgo the deemed excise credit: Bombay High Court Orders Tran 1 Or Tran 2 to be filed on GST portal
The Bombay High Court has held that it will be wholly unfair if the assessee ends up having to forgo the deemed excise credit, particularly when under Section 29(3) his liability will continue even after cancellation of registration.The division bench of Justice K.R. Sriram and Justice A.S. Doctor has observed that the application, subject to paying all necessary fees and filing...
Unrealized sale proceeds have to be excluded from export turnover as well as total turnover: ITAT
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that unrealized sale proceeds have to be excluded from an export turnover as well as total turnover.The two-member bench headed by Mahavir Singh (Vice President) and G. Manjunatha (Accountant Member) has directed the AO to re-compute deduction by excluding unrealized sale proceeds from an export turnover as well as...
Not a bonfide importer, Paid For Making Forged Licences To Clear Bills of Entry: CESTAT
The Delhi Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has found that the appellant has not paid duty to the government exchequer but instead paid a percentage of the amount equivalent to the duty to the firms for making forged licences to clear the bills of entry.The two-member bench headed by Justice Dilip Gupta (President) and P.V. Subba Rao (Technical Member)...
Tamil Nadu GST Department Issues Instructions For Initiation Of Action On Non-Filers Of GST Returns
The Tamil Nadu GST Department has issued instructions in respect of procedures for initiation of action against non-filers of returns under the Tamil Nadu Goods and Service Tax Act, 2017 (TNGST Act).If the registered person fails to file returns under Section 39, even after the expiration of the time limit in the notice issued under Section 46, the proper officer shall proceed to assess the...