Tax
Completed Assessments Can Be Interfered With Only On The Basis Of Incriminating Material Unearthed During Course Of Search: ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that completed assessments could be interfered with by the AO while making an assessment under section 153A only on the basis of some incriminating material unearthed during the course of search. If in relation to any assessment year, no incriminating material was found, no addition or disallowance could be made in...
SBI Cannot Escape Tax Implication On Grounds Of Change Of Branch Manager: ITAT Refuses To Condone The Delay In Filing Appeal
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT)has refused to condone the delay in filing the appeal on the grounds that even during the period of COVID-19, the ITAT was functioning and banking facilities were provided by the State Bank of India (SBI).The two-member bench of George George K. (Judicial Member) and Laxmi Prasad Sahu (Accountant Member) has observed that...
Roaming Services And International Long Distance Services Provided By Vodafone Idea To Foreign Telecom Operators Is An Export Of Service: Bombay High Court
The Bombay High Court has ruled that the international Inbound Roaming Services (IIR) and the International Long Distance (ILD) Services provided by Vodafone Idea to Foreign Telecom Operators (FTOs) is an export of services, and thus, Vodafone Idea is eligible for the refund of the IGST paid by it. The Bench, consisting of Justices K. R. Shriram and Milind N. Jadhav, observed...
Failure To File Income Tax Return | Prosecution U/S 276CC IT Act Not Permissible Without Previous Sanction Of Appropriate Authority: Delhi High Court
The Delhi High Court has made it clear that a person cannot be prosecuted for the offence under Section 276-CC (Failure to furnish returns of income) of the Income Tax Act, except with the previous sanction of the Principal Commissioner/appropriate authority.A single judge bench of Justice Asha Menon held,"Since the law provides that without sanction u/s 278B of the IT Act, the Department...
Activity Of Providing Free Complimentary Cricket Match Tickets Is Exempted From GST: AAAR
The Punjab Appellate Authority of Advance Ruling (AAAR)has ruled that the GST is payable on the activity of providing free complimentary cricket match tickets. However, where complimentary tickets are being provided by the appellant to a related person or a distinct person, it shall fall within the ambit of supply on account of Schedule I and the appellant would be liable to pay...
Right To File Statutory Appeal Is Mandatory Before Initiating Any Recovery Proceeding: Calcutta High Court
The Calcutta High Court bench of Justice Md. Nizamuddin has held that the right to file a statutory appeal is mandatory before initiating any recovery proceeding. The petitioner/assessee has challenged the action of recovery of the demand arising out of the adjudication order by debiting from the electronic credit ledger. The demand was in violation of Section 78 of the WBGST Act,...
Usage Of Telephone/Internet Is Done For Official Purposes : ITAT Deletes Disallowance
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has deleted the disallowance on the grounds that the usage of telephone/internet is done for official purposes only. The two-member bench of Astha Chandra (Judicial Member) and Anil Chaturvedi (Accountant Member) held that all telephones are either installed at office premises or used by officers and employees of...
Income Tax Dept. Can't Unreasonably Reject Proof Submitted By The Assessee: Calcutta High Court
The Calcutta High Court has held that the income tax department cannot unreasonably reject proof submitted by the assessee. The division bench of Justice T.S. Sivagnanam and Justice Bivas Pattanayak noted that the assessing officer brushed aside the explanation offered by the assessee by stating that merely filing PAN details and a balance sheet does not absolve the assessee from...
Inapplicability Of MOOWR Scheme On Solar Power Generating Units: Delhi High Court Says No Coercive Action
The Delhi High Court bench of Justice Rajiv Shakdher and Justice Tara Vitasta Ganju issued notice and restrained the customs officer from taking any coercive action against the petitioners assailing the legality of Board Instruction No. 13/2022 dated 9.07.2022. The instruction was issued by the CBIC with regards to the inapplicability of the Manufacturing and Other Operations in...
DGFT Notifies Procedure For Submission Of Requests For Seeking IMC's Approval For Export Of Wheat Flour
The Director General of Foreign Trade (DGFT) has notified the procedure for submission of requests for seeking the approval of Inter-Ministerial Committees (IMC) for the export of wheat flour. Wheat flour (Atta) export is permitted subject to the recommendation of the Inter-Ministerial Committee (IMC) on wheat export. The export of Maida, Samolina (Rava/Sirgi), however, remains...
Show Cause Notice Cancelling GST Registration Must Disclose Reason: Allahabad High Court
The Allahabad High Court has held that the show cause notice cancelling registration must indicate the reason and the mere mentioning of violation under the CGST Act is not sufficient. The single bench of Justice Saumitra Dayal Singh has observed that cancellation of registration has the most serious civil consequences. While Section 29(1) of the CGST Act provides for specific...
Developer Put In Possession Of The Property Under The Development Agreement, Assessee Not Liable To Pay Wealth Tax: Karnataka High Court
The Karnataka High Court has set aside the order passed by the ITAT holding that the assessee was liable to pay Wealth Tax with respect to a property, despite transferring possession of the said property to a developer under a Joint Development Agreement. The Bench, consisting of Justices P.S. Dinesh Kumar and Anant Ramanath Hegde, observed that the developer had physically...