"18 January 2013" Archive

Where person has dual capacity, notice u/s. 148 must specify particular capacity

Gokul Chand Vs Income-tax Officer (Allahabad High Court)

When a person has a dual capacity, as an individual as well as karta of HUF, and notice under section 148 is intended to be addressed to HUF, it is necessary to specifically mention that notice was/is being addressed to him in his capacity as karta of HUF. ...

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Assessee can file appeal against CPC actions related to TDS statement

Vide clause 8 Notification No. 3/2013, dated 15-1-2013 CBDT has specified that Assessee can file an appeal against the actions of the CPC. The appeal can be filed with the Commissioner of Income-tax (Appeals) having jurisdiction over the Assessing Officer who has jurisdiction over the deductor. ...

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Posted Under: Income Tax | ,

Adjustment of TDS refund against Outstanding demand only after intimation

Vide clause 7 of the Notification No. 3/2013, dated 15-1-201 CBDT has specified that an adjustment of refunds against outstanding tax demand can be done u/s 245 of the Act only after issuing prior intimation to the taxpayer....

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Posted Under: Income Tax | ,

OECD commentary cannot be used to deny DTAA benefits

Director of Income Tax Vs Chiron Bearing Gmbh & Co. (Bombay High Court)

We find that respondent-assessee is receiving royalty and fees for technical services rendered in India. In terms of Article 12 of DTAA, royalty and fees for technical services received in India by a person resident outside India are not liable to tax in India in excess of 10% of the gross amount received. On examination of the DTAA, we f...

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Mere irregularity in payments cannot be the basis for rejection of Depreciation on purchased & leased back asset

The Deputy Commissioner of Income Tax Vs M/s. First Leasing Company of India Limited (Madras High Court)

As far as the sale and lease transactions pertaining to BPL Systems and Products Limited is concerned, the Assessing Officer observed that there were discrepancy in the lease rentals paid by lessee and admitted by the assessee in its profits and loss account, which were not reconciled by the assessee. In the circumstances, the Assessing O...

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Before start of an activity CIT cannot question genuineness of the same to deny registration u/s. 12AA

Commissioner of Income Tax-I Vs Kutchi Dasa Oswal Moto Pariwar Ambama Trust (Gujarat High Court)

Under section 12AA of the Act, the Commissioner has to satisfy himself about the objectives of the trust and the genuineness of its activities. For such purpose, he has the power to call for such documents or information from the trust as he think are necessary. ...

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Abuse of dominant position cannot be alleged if other players also exist in the same market

Kaushal K. Rana Vs DLF Commercial Complexes Ltd. (Competition Commission of India)

As per the information available in public domain, it is clear that the OP was not the only real estate developer offering commercial office space in Delhi. There are other real estate developers as well, e.g., Ansal API, Unitech, BPTP, Omaxe, Parsavnath etc.Presence of other real estate developers offering commercial office space also in...

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Posted Under: Income Tax |

Assessee could not seek indirect refund of CENVAT Credit and pass on excess input credit to buyers

Commissioner of Central Excise Vs Inductotherm (I) Pvt. Ltd. (Gujarat High Court)

The view of the Tribunal that in any case the assessee could have encashed the unutilized credit in the CENVAT account and that therefore the same did not make any difference to the Department suffered from fallacy. Firstly, rule 5 of the Rules, 2004 permitted refund of CENVAT credit under certain circumstances which provides that such re...

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No unjust enrichment if no invoice is raised for collection of Service Tax

Commissioner of Service Tax Vs Sun-N-Step Club Ltd. (CESTAT Ahmedabad)

There is no dispute that the respondent has paid an amount as Service Tax liability on the income received from the non-members, working backwards the Service Tax liability. I find that the adjudicating authority, as correctly pointed out by the ld. Counsel, has recorded a factual finding that the respondent has not charged Service Tax on...

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Intellectual Dishonesty – of CA or CIT? Cost to be imposed on CA or CIT?

M/s. Qmax Test Equipments Pvt. Ltd. Vs. The Asst. Commissioner of Income Tax (ITAT Chennai)

The assessee had categorically stated that the assessee had claimed deduction under the provisions of section 10B for the first time in the assessment year 1995-96. This fact has been admitted by the Revenue in the assessment year 1999-2000. The assessee has placed on record the order of the CIT(A) dated 21.10.2005 relevant to the assessm...

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