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Archive: 26 December 2010

Posts in 26 December 2010

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7347 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Kerala HC-No coercive recovery if first appeal ready for hearing

December 26, 2010 345 Views 0 comment Print

The assessee filed appeals before the Commissioner (Appeals) against the assessment orders for AYs 2004-05 to 2008-09. Though the appeals were ripe for hearing and the appellate authority had already posted the appeals for hearing on different dates, the AO without considering the pendency of the appeals issued demand notices

Service Tax- FAQ on CENVAT Credit Scheme

December 26, 2010 2208 Views 1 comment Print

The CENVAT Credit Rules, 2004, introduced with effect from 10.9.2004, provides for availment of the credit of the Service Tax paid on the input services/Central Excise duties paid on inputs/capital goods/Additional Customs duty leviable under section

Dispute Resolution Panel should pass a reasoned order/ directions assigning cogent and germane reasons

December 26, 2010 765 Views 0 comment Print

Delhi High Court held that the directions passed by the Dispute Resolution Panel (DRY), which is a quasi judicial body, should be well reasoned containing cogent and germane reasons and remanded back the non-speaking direction of the DRY for fresh adjudication.

Case remanded back to Dispute Resolution Panel (DRP) by ITAT Delhi as DRP directions found to be very laconic and non-speaking

December 26, 2010 2167 Views 0 comment Print

Recently, the Delhi bench of the Income-tax Appellate Tribunal remitted back the matter to the Disputes Resolution Panel (DRP) for reassessment since the directions of the DRP were found to be very laconic and non-speaking. The Tribunal, while setting aside such directions commented that the DRP has not considered the voluminous submissions of the taxpayer.

Taxability of packaged or canned software

December 26, 2010 606 Views 0 comment Print

Excise Duty :- Notification No. 30/2010- Central Excise (N. T) dated December 21, 2010 has been issued for levy of excise duty on packaged or canned software on Retail Sale Price basis. • Entry 93A has been inserted in Notification No. 49

Levy of service tax on sale of residential complex not unconstitutional – Punjab and Haryana HC

December 26, 2010 879 Views 0 comment Print

M/s G.S. Promoters (hereinafter referred to as the Petitioner) is engaged in development and sale of residential flats. The petitioner enter into agreement for construction of flats with the contractors. The flats are ultimately sold to the customers. The petitioner filed the subject petition to seek declaration that the Explanation to Section 65(zzzh) of the Finance Act, 1994 (henceforth referred as the Finance Act) and CBEC circular No. 334/3/2010-TRU dated 1 July 2010 (henceforth referred as the Circular) are unconstitutional.

HC upholds constitutionality of levy of service tax on residential complex

December 26, 2010 603 Views 0 comment Print

Punjab and Haryana High Court in the case of G.S. Promoters v. Union of India reported in MIT-2010-574-HC] upheld the constitutionality of the levy of service tax on the deemed service while selling residential complex by builder to buyer.

Service tax – Procedures related to Levy, Registration, valuation, Payment, Import and Export, Returns, Interest, Recovery and Penalty

December 26, 2010 1749 Views 0 comment Print

Generally, the liability to pay service tax has been placed on the ‘service provider’. However, in respect of the taxable services notified under Sec.68(2) of the Finance Act,1994, the service tax shall be paid by such person and in such manner as ma

Reimbursement of expenses cannot be subject matter of disallowance U/S. 40(a)(i)

December 26, 2010 2248 Views 0 comment Print

The assessee is a company. It is engaged in the business of corporate and project finance and merchant banking. The assessee had taken premises at Bardy House, Veer Nariman Road, Fort, Mumbai-400 001 on rent. During the previous year, it incurred an expenditure of Rs. 30,94,066/- in connection with renovation of the aforesaid leasehold premises. The assesse

When gift is not genuine, addition under section 68 is warranted

December 26, 2010 1191 Views 0 comment Print

Brief facts of the case are that the assessee received a gift of Rs.30,00,000/- from Mrs. Chandra Hingorani. The genuineness of the gift was examined by the Assessing Officer by considering the various documents including taking statements of the assessee which was recorded on 19.12.2006.

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