Tax
Assessment Order Without Reasons, Not Erroneous Or Prejudicial To The Interest Of The Revenue: ITAT Quashes Revenue's Revision Order
The Mumbai Bench of ITAT has ruled that action of the Assessing Officer in accepting the explanation submitted by the Assessee in the course of scrutiny assessment proceedings cannot be faulted merely because the Assessing Officer did not write specific reasons for accepting the explanation. The Bench, consisting of members Pramod Kumar (Vice President) and Kuldip Singh (Judicial...
Survey Not Disputed By The Partner Of The Firm Who Was Present - Can't Question Later: Allahabad High Court
The Allahabad High Court bench of Justice Piyush Agrawal has ruled that once the partner of the firm was available at the time of the survey, who must have signed the survey report, he could very easily request to correct the entries or refuse to sign the survey report, if it was not recorded as per his statement. The applicant/assessee is in the business of manufacturing and selling...
Transportation Of Parcels By GSRTC In Its Buses Attracts 18% GST: AAR
The Gujarat Authority of Advance Ruling (AAR) consisting of Atul Mehta and Arun Richard has ruled that 18% GST is payable on the transportation of parcels by the Gujarat State Road Transport Corporation (GSRTC) in its buses.GSRTC operates more than 8,700 buses daily and is engaged in intra state as well as interstate passenger transportation. It is mainly engaged in...
Bombay High Court Quashes Reassessment Notice Against Tata Communications Transformation Services
The Bombay High Court bench of Justice K.R. Shriram and Justice N.J. Jamadar has quashed the reassessment notice against the Tata Communications Transformation Services. The petitioner/assessee has challenged the initiation of assessment proceedings under Section 148 of the Income Tax Act, 1961 for different assessment years. All notices for the initiation of assessment proceedings...
Introduction of Artificial Intelligence For Assessment Proceedings: CBDT Notifies Faceless Inquiry Or Valuation Scheme, 2022
The Central Board of Direct Taxes (CBDT) has notified the Faceless Inquiry or Valuation Scheme, 2022 in order to introduce the Artificial Intelligence for Assessment Proceedings under section 142 of the Income Tax Act, 1961. The Faceless Inquiry or Valuation Scheme, 2022, covers the following: issuance of notice under section 142(1) of the Income Tax Act; making inquiry...
Disputed Tax Demand, Pre-Condition To Deposit 20 % Of The Disputed Tax For Stay Of Recovery Proceedings, Can Be Relaxed In Appropriate Cases: Delhi High Court
The Delhi High Court has ruled that requirement of payment of twenty per cent of disputed tax demand is not a pre-requisite in all cases for putting recovery of demand in abeyance during the pendency of the first appeal. The Bench, consisting of Justices Manmohan and Dinesh Kumar Sharma, held that the order of the income tax authority disposing of assessee's application for stay...
Gujarat High Court Rejects Application Seeking Benefits And Interests On The Ground Of Delay Under Contempt Of Courts Act
Averring that there was no delay in making payment of pensionary benefits as alleged by the Appellants, the Gujarat High Court has refused to interfere in the Letters Patent Appeal seeking Respondent authorities to pay all the consequential pensionary benefits and 18% interest on delayed payment. The Appellant herein had his services terminated against which he and other...
Non Release Of Seized Documents, Based On Pendency Of The SLP In The Supreme Court By IT Department, Is Illegal: Kerala High Court
The Kerala High Court has ruled that the income tax department is not authorized to retain the title deeds seized by them under Section 132 of the Income Tax Act on the ground that a Special Leave Petition filed by the Assessee against the assessment order is pending before the Supreme Court. The Single Bench consisting of Justice Bechu Kurian Thomas held that since the Income Tax...
Non Specification Of Penalty Provisions In Penalty Notice And Denial Of Immunity; Delhi High Court Holds That Assessee Is Eligible For Immunity, Says Tax Payer Should Be Incentivised.
The Delhi High Court has ruled that the action of income tax authorities denying the benefit of immunity from penalty under Section 270AA of Income Tax Act to the assessee on the ground that penalty was initiated under Section 270A for misreporting of income is arbitrary since the penalty notice issued by the authorities failed to specify the limb under which the penalty proceedings...
Payment Of Equated Yearly Instalments And Interest On Delayed Payment Is Exigible To GST: Telangana AAR
The Telangana Bench of Authority for Advance Ruling, consisting of members B. Raghu Kiran and S.V. Kasi Visweswara Rao, has ruled that payment of Equated Yearly Instalments made under Annuities Model, including interest on delayed payments made to a contractor, is exigible to GST. The Applicant M/s. Hyderabad Metropolitan Water Supply and Sewerage Board filed an application before...
Issue Of Notice Of Hearing Is A Statutory Requirement Under Section 75(4) Of CGST Act Before Imposition Of Tax Or Penalty: Andhra Pradesh High Court
The Andhra Pradesh High Court recently allowed the writ petition by an assesse as there was no notice given to him before contemplating to pass an adverse Tax Assessment Order which is violative of Section 75(4) of CGST Act, 2017. Brief Facts of the Case The petitioner executed certain works entrusted to it by M/s Tata Projects Limited, and issued Tax invoices to M/s Tata. It...
Attachment of Immovable Properties Of Director Despite settlement of Tax Dues Under Tax Resolution Scheme: Gujarat High Court Condemns Dept.
The Gujarat High Court bench of Justice J.B. Pardiwala and Justice Nisha M. Thakore has condemned the act of the department for attaching the personal immovable properties of the director even though the tax dues were settled under the Tax Resolution Scheme. The writ-petitioner/assessee, a company which is a taxable entity, has incurred liability towards the payment of tax under...