Tax
Inspection And Examination Of Goods Before Shipment Not Taxable As Technical And Managerial Services: ITAT Delhi
The Delhi Bench of ITAT, consisting of members Amit Shukla (Judicial Member) and Dr. B. R. R. Kumar (Accountant Member), ruled that inspection and examination of goods before shipment cannot be treated as technical and managerial services under Section 9 (1) of the Income Tax Act, 1961. The Commissioner of Income Tax (Appeals) (CIT (A)) had confirmed the additions made to...
Delhi High Court Directs Disposal Of Nokia's Rectification Application Over Refund Of Rs. 58 Crores Within Six Weeks
A Bench of Delhi High Court, consisting of Justices Manmohan and Navin Chawla, directed the revenue authorities to decide Nokia's rectification application filed under Section 154 of the Income Tax Act, 1961 in accordance with law by way of a reasoned order within six weeks. Nokia filed a writ petition before the High Court seeking a direction to the revenue authorities to decide...
Invalid Re-Assessment By AO Cannot Be Subject Matter Of Revision Under Section 263 Of Income Tax Act: ITAT Mumbai
The Bench of ITAT Mumbai, consisting of members Kuldip Singh (Judicial Member) and M. Balaganesh (Accountant Member), held that when an assessment framed by the Assessing Officer is invalid in law, the said invalid order cannot be the subject matter of revision under Section 263 of the Income Tax Act ,1961. The Assessing Officer (AO) had reopened assessment for the relevant years...
Delhi High Court Excludes Time Spent Prosecuting Tax Appeal Before An Authority Without Jurisdiction, Rules Revision Petition Not Time Barred
A Bench of Delhi High Court, consisting of Justices Manmohan and Navin Chawla, excluded the time spent in prosecuting a tax appeal before an authority devoid of jurisdiction in computing the limitation period for filing a revision petition under the Income Tax Act, 1961. The Assessee filed a writ petition before the Delhi High Court challenging the order passed by the Commissioner...
Clarification Issued By CBDT Cannot Introduce A Cut Off Date For Its Applicability: Rajasthan High Court
A Bench of Rajasthan High Court, consisting of Chief Justice Akil Kureshi and Justice Sudesh Bansal, held that since the primary intention of the Vivad Se Vishwas Act, 2020 was the resolution of disputed taxes, the courts must adopt an interpretation that furthers this intention and not restrict its scope. Also, the court ruled that a clarification issued by the Central Board of...
Reassessment Proceedings Not Time Barred When Time Limit Increased Retrospectively Under Income Tax Act: ITAT
The Mumbai Bench of ITAT, comprising of members Pramod Kumar (Vice President) and Suchitra Kamble (Judicial Member), has held that reassessment proceeding cannot be held time barred when an amendment increasing limitation of time is expressly stated to be retrospective. The court added that it was not open to the ITAT and Commissioner of Income Tax (Appeals), to contest the validity...
Service Tax - Exemption Notification Should Not Be Liberally Construed ; Assessee Has To Show That He Comes Within Its Purview: Supreme Court
The Supreme Court observed that exemption notification should not be liberally construed and it is for the assessee to show that he comes within the purview of the notification.The bench comprising upheld the order passed by Customs, Excise and Service Tax Appellate Tribunal, Principal Bench, New Delhi which held that the Krishi Upaj Mandi Samiti (Agricultural Produce Market Committees)...
Information From Property Dealers Or Websites Not Cogent Evidence On Adequacy Of Rent For Invoking Section 13(2)(B) Of Income Tax Act: Delhi High Court
A Bench of Delhi High Court, consisting of Justices Manmohan and Navin Chawla, held that in the absence of an independent inquiry, the revenue authorities cannot solely rely on the opinion of property broker firms and websites to determine the adequacy of rent received for invoking section 13(2)(b) of the Income Tax Act, 1961. The Assessee Foundation received voluntary and...
Loss On Investment In Subsidiary, Made To Boost Sales, Deductible As Revenue Expenditure, Rules ITAT
The ITAT Bench of Chennai, consisting of members V. Durga Rao (Judicial Member) and Manoj Kumar Aggarwal (Accountant Member), allowed the loss on investment made in subsidiary company for increasing business expediency to be written off as business loss. Allowing deduction of legal fee and due diligence expenditure incurred in acquiring a foreign entity, the ITAT ruled that the loss...
AAAR : No GST Leviable On Lease Of Buses To Public Transport Department
The Andhra Pradesh Bench of the Appellate Authority for Advance Ruling (AAAR), consisting of members Suresh Kishnani and Ravi Shankar Narayan, upheld the order of the Authority for Advance Ruling (AAR) holding that the lease of buses by the Andhra Pradesh State Road Transport Corporation (APSRTC) to the Public Transport Department (PTD) of the Government of Andhra Pradesh was exempt...
Gujarat High Court Directs Refund Of IGST In Electronic Credit Ledger For SEZ Unit U/S 54 Of CGST Act, 2017
The Gujarat High Court has recently held that the Writ Applicant can be entitled to claim the refund of the IGST lying in the Electronic Credit Ledger as there was no specific supplier who could claim the refund under the provisions of the CGST Act and the CGST Rules as Input Tax Credit as distributed by the input service distributor. Further directing the Respondent-Authority to...
Liquidated Damages Recovered For Delay In Completion Of Project Attracts 18% GST, Rules Telegana AAR
The Telangana Authority for Advance Ruling (AAR), consisting of members B. Raghu Kiran and S.V. Kasi Visweswara Rao, ruled that liquidated damages recovered by Applicant for delay in commissioning under an agreement constitutes "supply" under the Goods and Service Tax (GST) law, attracting a levy of 9% GST under the Central Goods and Service Tax (CGST) and State Goods and Service Tax...