Tax
Income Tax Reassessment Notice Issued After 4 Years Without Valid Reasons: Chhattisgarh High Court Quashes Notice
The Chhattisgarh High Court bench of Justice Parth Prateem Sahu has quashed the income tax reassessment notice, which was issued after 4 years without stating any valid reason. The petitioner has challenged the notice under Section 148 of the Income Tax Act. According to Section 148 of the Income Tax Act, any income tax computation that has not been recomputed or reassessed will receive...
Services Provided For Collection And Disposal Of Bio-Medical Waste To State Government Is Exempt From Gst: West Bengal AAR
The West Bengal Bench of the Authority for Advance Ruling (AAR) has ruled that services provided for collection and disposal of bio-medical waste to the State Government is exempt from GST. The Bench, consisting of members Brajesh Kumar Singh and Joyjit Banik, held that advance ruling cannot be sought with respect to the services provided by a sub-contractor to the applicant. The...
Scholarship By Hamdard Foundation, Exemption Under Income Tax Act Can't Be Denied: Delhi High Court
The Delhi High Court has upheld the factual findings made by the CIT (A) and ITAT that the merit-cum scholarship/financial assistance provided by Hamdard National Foundation was not confined to students of a particular religious community, and therefore exemption under Section 11 of Income Tax Act, 1961 cannot be denied to it. The Bench, consisting of Justices Manmohan and...
No GST Payable On Sewage Treatment Plant: AAAR
The Maharashtra Appellate Authority of Advance Ruling (AAAR) consisting of members Rajeev Kumar Mital and Ashok Kumar Mehta has ruled that sewage treatment plants (STP) are exempted from the goods and service tax (GST).The appellant, Rashtriya Chemicals and Fertilisers Limited, is in the business of manufacturing and selling fertilisers and industrial chemicals. The appellant has its...
Cannot Waive The Statutory Mandate of Pre-Deposit Merely On The Plea Of Financial Hardships: Kerala High Court
The Kerala High Court bench of Justice Bechu Kurian Thomas has ruled that the high court cannot waive the statutory mandate of pre-deposit merely on the plea of financial hardships. The petitioner/assessee, a proprietor of an establishment named M/s. Swathi Constructions at Shoranur, is in the business of laying power lines on behalf of people who have executed contracts with the...
Detention Of Goods In The Course Of Transportation On The Ground Of Undervaluation: Kerala GST Dept. Issues Instructions
The Kerala Goods and Service Tax Department has issued the instruction on the detention of goods in the course of transportation on the ground of undervaluation with reference to the Kerala High Court judgement in WP (C). No. 30798 of 2019(Y) dated 18.11.2019.The goods belonging to the petitioner in WP (C) No. 30798 of 2019 were detained in a parcel godown by the Intelligence Squad on...
Charitable Institution Can't Be Denied Income Tax Exemption For Collecting Service Charges From Its Donors To Defray Administrative Cost: Delhi High Court
The Delhi High Court bench of Justice Manmohan and Justice Dinesh Kumar Sharma has held that charitable institutions cannot be denied income tax exemption for collecting service charges from their donors to defray administrative costs.The appellant/ department has challenged the orders passed by the Income Tax Appellate Tribunal in which exemption under Sections 11 and 12 of the Income...
Registration Under GST ACT Cannot Be Cancelled By Merely Describing The Firm As 'Bogus': Allahabad High Court
The Allahabad High Court has ruled that registration under GST Act cannot be cancelled by merely describing the firm as 'bogus'. The Single Bench of Justice Saumitra Dayal Singh held that cancellation of GST registration has serious consequences since it takes away the fundamental right of a citizen to engage in business, adding that the revenue authorities have a heavy burden...
Source Of Demonetized Notes Collected By Co-Operative Society Explained, ITAT Quashes Addition Made Under Section 68 Of Income Tax Act
The Bangalore Bench of ITAT has ruled that there is no rationale in the action of the Assessing Officer of making additions to assessee's income under Section 68 of the Income Tax Act on the ground that the assessee has violated RBI notifications. The Single Member Bench of B.R. Baskaran (Accountant Member) held that the Assessee Co-operative Society had explained the nature and source...
Wrong Declaration In E-Way Bill: Madras High Court Quashes Penalty Under GST As There Was No Intention Of Tax Evasion
The Madras High Court bench of Justice C. Saravanan has quashed the penalty under GST for a wrong declaration in an e-way bill as there was no intention of tax evasion. The petitioner/assessee challenged the order in Form GST Mov-9 seeking to impose a penalty of Rs. 5,00,774 under Section 129 (3) of the CGST Act, 2017. The petitioner had consigned the goods from its main...
Non-Disclosure Of A Foreign Asset In ITR Is Not A Valid Reason For Imposition Of Penalty If source Of Investment Is Well Explained: Mumbai ITAT
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) headed by Pramod Kumar (Vice President) and Rahul Chaudhary (J​​udicial Member) has ruled that mere non-disclosure of a foreign asset in the income tax return, by itself, is not a valid reason for a penalty under the Black Money Act, if the source of investment is well explained by the assessee.The Assessing Officer...
Service Tax Not Leviable On IPL Promotion Activities By Anil Kumble: CESTAT
The Bangalore Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) consisting of P. Dinesha (Judicial Member) and P. Anjani Kumar (Technical Member) has held that the promotional activities undertaken by the former Indian skipper Anil Kumble shall not be treated as "business auxiliary services", so no service tax can be imposed. The department issued the...