Failure Of The Dealer To Attend Assessment Proceedings, No Violation Of Principles Of Natural Justice: Kerala High Court

The Kerala High Court has held that failure of a dealer to attend assessment proceedings cannot be regarded as the violation of principles of natural justice. The single bench of Justice Bechu Kurian Thomas has observed that petitioner/dealer was granted sufficient opportunity to contest the assessment proceedings and the failure to do so cannot be regarded as a violation of...

Owner Of Vehicle Not Vicariously Liable For Any Misdeclaration By Owner Of Goods: Punjab & Haryana High Court

The Punjab and Haryana High Court has held that the owner of the vehicle who is seeking only release of the vehicle is not liable to pay fine for the confiscated goods.The division bench of Justice Ajay Tewari and Pankaj Jain has observed that to force the owner of the vehicle to pay the tax, penalty and fine on the goods would mean that the owner of the vehicle is also foisted with...

Income Tax Commissioner In Discretionary Power Of Revision Can't Act As Appellate Authority: Calcutta High Court

The Calcutta High Court has ruled that the power of an Appellate Authority is much wider than that of a Revisional Authority and the Commissioner, in the exercise of his discretionary power of revision under Section 264 of the Income Tax Act, cannot act as an Appellate Authority and go into the merits of the assessment by re-appreciating the facts and evidence. The single bench of...

Whether Nikon Eligible For Custom Duty Exemption Under Information Technology Agreement: Question Referred To Larger Bench

The Delhi Bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) consisting of Justice Dilip Gupta (President) and P.V.Subba Rao (Technical Member) has referred the issue of eligibility to avail the benefit of the exemption of Basic Custom Duty (BCD) under Information Technology Agreement (ITA)on Digital Still Image Video Cameras imported by Nikon to the larger bench.Nikon...

CESTAT Upholds Penalty Against Hindustan Coca Cola For Excise Duty Evasion On Pretext Of Stock Transfer

The Delhi Bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has upheld that penalty against Hindustan Coca Cola for the evasion of Excise Duty on the pretext of stock transfer.The tribunal consisting of Rachna Gupta (Judicial Member) has observed that the proviso to Rule 3(5A) of the CCR, 2004 is applicable to the transaction of the generator set after use by...

Non Production Of Persons Despite Summons Leads To Inference Of Routing Own Money : ITAT Delhi

The Delhi Bench of ITAT, consisting of members G.S. Pannu (President) and K. Narsimha Chary (Judicial Member), has ruled that an Assessing Officer has the power to verify transactions beyond the paperwork submitted by the Assessee under Section 68 of the Income Tax Act, 1961. The Assessing Officer (AO) had disallowed expenses and made additions to Assessee's income under Section 68...

ITAT: Unascertained Business Loss Cannot Be Allowed As Deduction

The Bangalore Bench of ITAT, consisting of members Beena Pillai (Judicial Member) and Chandra Poojari (Accountant Member), has ruled that unless the recovery of embezzled amount in the course of business was impossible, it could not be claimed as a business loss. The ITAT ruled that an unascertained loss cannot be allowed as deduction from taxable income. The Assessing Officer (AO)...

No Service Tax payable On Packed Food Sold As Take Away And Not Served In Restaurant: CESTAT

The Ahmedabad Bench of Customs, Excise and Tax Appellate Tribunal (CESTAT) consisting of Ramesh Nair (Judicial Member) and Raju (Technical Member) has ruled that service tax is not payable on packed food sold as take away and not served in the restaurant. The appellant/assessee has been engaged in providing catering service at restaurants for which they are holding service...

Rejection of Additional Evidence without Examination is Violation of Principles of Natural Justice: ITAT

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has ruled that rejection of additional evidence without examination is a violation of principles of natural justice.The two-member bench of B.R.R.Kumar (Accountant Member) and Saktijit Dey (Judicial Member) has restored the issue to the file of Commissioner (Appeals) for de-novo adjudication after considering the additional...

ITAT Remands Matter To CIT(A) To Determine Taxable Income After Examining Nature Of Credit Entries, Bank Accounts

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) consisting of Astha Chandra (Judicial Member) and Dr. B. R. R. Kumar (Accountant Member) has remanded the matter back to CIT(A) to determine the issue afresh after examining the bank accounts and determining the taxable income. The assessee/appellant had credited a total amount of Rs.4,00,74,711/- in the bank accounts of his...

Mango Pulp/Puree' Attracts 18% GST: AAAR

The Andhra Pradesh Appellate Authority of Advance Ruling (AAAR) consisting of Suresh Kishnani (Central Tax) and S.Ravi Shankar Narayan (State Tax) has ruled that 18% GST is chargeable on Mango Pulp/Puree'. The Appellant, a Public Limited Company, has been engaged in the business of supplying mango pulp/puree within India including merchant export. The Appellant...

Delhi High Court: Findings Of Fact Recorded By ITAT Not Perverse, Cannot Be Interfered Under Section 260A

The Delhi High Court has ruled that in an appeal to the High Court under Section 260A of the Income Tax Act, 1961 there can be no interference with the finding of fact if it involves re-appreciation of the evidence. The Division Bench, consisting of Justices Manmohan and Sudhir Kumar Jain, held that if a particular receipt has been disclosed in the income and expenditure account, the...