Tax
Dept. Failed To Establish Element Of Tax Evasion :Madhya Pradesh High Court Quashes Penalty
The Madhya Pradesh High Court quashed the penalty for the expiry of e-way bill as the department failed to establish that there existed any element of evasion of tax, fraudulent intent or negligence on the part of the petitioner.The division bench of Justice Sujoy Paul and Justice Prakash Chandra Gupta has observed that the delay of almost 4:30 hours before which the E-way Bill...
Compensation For Compulsory Acquisition Of Commercial Land Exempted From Income Tax: ITAT
The Patna Income Tax Appellate Tribunal (ITAT) has held that the compensation received in respect of an award or agreement has been exempt from the levy of income tax as per section 96 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation, and Resettlement Act, 2013 (RFCTLARR Act).The two-member bench of Sonjoy Sarma (Judicial Member) and Manish...
CBIC Notifies Simplification Of Procedure For Compounding Offences Under Customs Act
The Central Board of Indirect Taxes and Customs (CBIC) has notified the simplification of the procedure for compounding offences under the Customs Act.The Central Government has made changes to the Customs (Compounding of Offences) Rules, 2005. As per the amendment, the satisfaction of compounding authorities has been limited only to verifying and being satisfied that the full and...
Exporter Can't Be Deprived Of MEIS Benefits Due To Technical Error In Electronic System: Madras High Court
The Madras High Court has held that due to technical error or lacunae in the electronic system, the petitioner/exporter cannot be deprived of its benefit/incentive under the Merchandise Export from India Scheme (MEIS).The single bench of Justice Abdul Quddhose has directed the department to consider the petitioner's representation seeking to get the benefit under the MEIS for the...
Tax Cases Weekly Round-Up: 21 August To 27 August, 2022
Delhi High Court Application Under Companies Act Against Order Rejecting Waiver Of Interest; Dispute Falls Within Scope Of VSV Act: Delhi High Court Case Title: Kapri International Pvt. Ltd. versus Commissioner of Income Tax Citation: 2022 LiveLaw (Del) 796 The Delhi High Court has ruled that where an application under the Companies Act has been filed by a company in...
Printing Of Question Papers Constitutes Supply Of Service And Printing Answer Booklets Constitutes Supply Of Goods: Karnataka AAR
The Karnataka Authority of Advance Ruling (AAR) has held that the printing of question papers constitutes a supply of service and the printing of answer booklets constitutes a supply of goods. The two-member bench of M.P.Ravi Prasad and T.Kiran Reddy has observed that the GST exemption is available on the question papers. However, GST is payable on the answer...
Assessee To Furnish Necessary Documentary Evidence In Absence Of TDS Certificate To Claim TDS Credit: ITAT
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT)has held that the assessee has to furnish necessary documentary evidence in the absence of a TDS certificate to claim TDS credit.The two-member bench of Rahul Choudhary (Judicial Member) and Om Prakash Kant (Accountant Member) has restored the issue of granting credit for tax deducted at source to the file of the Assessing...
Assessee Entitled To Refund Of Unutilized CENVAT Credit On Account Of Export Of Legal Services: Delhi High Court
The Delhi High Court has held that the assessee is entitled to a refund of unutilized CENVAT credit under the CENVAT Credit Rules, 2004 on account of the export of legal services under rule 5 of the CENVAT Credit Rules, 2004. The division bench of Justice Rajiv Shakdher and Justice Tara Vitasta Ganju observed that, as per Rule 5, as long as the service provider provides an output...
Officer Is Duty Bound To Consider Explanation Offered For Expiry Of The E-Way Bill: Kerala High Court
The Kerala High Court has held that the officer is duty bound to consider the explanation offered by the petitioner for the expiry of the e-way bill.The single bench of Justice Gopinath P has observed that the officer rejected the explanation offered by the petitioner by stating that no evidence of repair being carried out has been produced. The officer imposed a penalty/tax on the...
Issuance Of Notice And Initiation Of Reassessment Proceeding Beyond 6 Years: Calcutta High Court Stays Proceedings
The Calcutta High Court has held that the issuance of notice and initiation of reassessment proceedings were beyond 6 years. Prima facie, it is barred by limitation both under the old Act as well as under the newly amended provision relating to Section 147 of the Income Tax Act, 1961.The single bench of Justice Md. Nizamuddin has observed that the petitioner has been able to make out a...
Order Passed Under Section 143(1) Is Not An Assessment; Delhi High Court Dismisses Ernst And Young's Writ Petition
The Delhi High Court has ruled that the order passed under Section 143(1) of the Income Tax Act, 1961 is not an assessment for the purposes of Section 147 and hence, it is not necessary for the Assessing Officer to come across some fresh tangible material to form a belief that the income of the assessee has escaped assessment in order to reopen assessment. The Bench of Justices...
'Go-karts' Are Not Roadworthy, Can't Be Registered As Motor Vehicles With RTO: Karnataka AAR
The Karnataka Authority of Advance Ruling (AAR) has ruled that the "Go-karts" are not roadworthy and cannot be registered as motor vehicles with the Regional Transport Authority (RTO). Go-Karts are not classifiable as "motor vehicles meant for carrying passengers or persons" under Chapter Tariff Heading 8703 of the First Schedule to the Customs Tariff Act, 1975.The two–member bench...