"28 June 2012" Archive

No Tax deduction required on reimbursement of expenses

ITO Vs M/s Planet Herbs Life Science Pvt. Ltd. (ITAT Delhi)

Section 195 of the Act clearly states that any person responsible for paying to a non resident any interest or any other sum chargeable under the provisions of this Act shall at the time of credit of such income will income tax thereon at the rate inforce at the time of payment or credit. Therefore, the first test to be applied for deduct...

Tax Deduction on Payment to Contractor Under PVAT Act, 2005

As per the scheme of the Punjab Value Added Tax Act, 2005 Contractee who entered into Contract for Works Contract with Contractor is under an obligation to deduct 5 % while making the payment to the contractee if execution of which involves transfer of property in goods and liability on account of such contract exceeds Rs. 5 Lacs in a sin...

Posted Under: Income Tax |

Report of Parliamentary Standing Committee on Finance on The Companies Bill, 2011

I. Dissent note submitted by Shri Gurudas Dasgupta, MP II. Minutes of the sittings of the Committee held on 24 January, 2012 , 18 May, 2012 and 7 June, 2012 III. The Companies Bill, 2011...

Posted Under: Income Tax |

Loan Guarantor Liability terminates once bank accepts repayment under settlement scheme

Union Bank of India Vs Chairperson, Debts Recovery Appellate Tribunal (Allahabad High Court)

The bank had provided credit facilities to the company. The private respondents in the two writ petitions were the guarantors to the said credit facilities provided by the bank. As there was default in payment of the bank dues, an application was filed before the DRT by the bank against the company and private respondents in these petitio...

Mere Registration as Charitable Trust Under I.T. Act not entitle appellant to claim service tax exemption

Bombay Flying Club Vs Commissioner of Service Tax, Mumbai-II (CESTAT Mumbai)

Since the appellant is a charitable institution, can they be considered as a commercial training or coaching centre ? Here again the answer is negative. So long as the appellant imparts training or skill in any subject or field other than sports for a consideration, the said activity would come under the purview of commercial training or ...

Service tax is required to be paid when the service is provided

British Airways PLC Vs Commissioner of Service Tax, New Delhi (CESTAT Delhi)

The second issue involved in the appeal is levy of service tax on tickets sold before 1.5.2006 and used after 1st May 2006. The appellant's contention is that the appellant sold the tickets to the passenger prior to 1.5.2006 and at that time there was no provision under the law of charging service tax Therefore, the service tax cannot be ...

Activities of implementing ERP software are in the field of engineering & not in the field of management

Intelligroup Asia (P.) Ltd. Vs Commissioner of Central Excise, Hyderabad (CESTAT Bangalore)

The appellants are actually implementing applications software like SAP, Oracle, people soft. They are also into upgradation of application software from existing release level to higher version. They are also specifically into running of electronic data processing centre, business of data processing, word processing etc. Even if there is...

SCN u/s. 73 to recover service tax from recipient of clearing & forwarding agent’s service for 16-7-1997 to 31-8-1999 not maintainable

Commissioner of Service Tax Vs Goetze TP (India) Ltd. (CESTAT Bangalore)

Appellant has been issued with a show cause notice on 19.05.2004 for the demand of Service Tax liability for the period 16.11.1997 to 2.6.1998 on the ground that the appellant has received the services of goods transport agency/operator which is liable to pay service tax as per the retrospective amendment and has not filed returns and dis...

Grand daughters of promoters of professionally run company cannot claim proportional representation in management of company by being a family member alone

G. Vijayalakshmi Vs Tirupur Textiles (P.) Ltd. (Company Law Board, Chennai)

A list of professionals appointed by the company from 1957 onwards is extracted in the written submissions filed by the respondents to argue that the Board seat was not reserved for family members on representative basis. The list includes several non-family directors. Therefore, it is contented that though the company is promoted by thre...

Appellate Authority must quantify service tax liability in an appeal seeking upward revision of taxes

Barbwire Security Services Vs Commissioner of Central Excise (CESTAT Bangalore)

When the department wanted the tax liability of the assessee to be revised, it was incumbent on the appellate authority to record a clear finding and to spell out in quantitative terms what should be the correct tax liability of the assessee. ...

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