"10 April 2013" Archive

When assessee claimed set-off of excess payment against short-payment, matter was remanded back for decision after ascertaining excess deposit

New India Assurance Co. Ltd. Vs Commissioner of Service Tax, Delhi-I (CESTAT Delhi)

It is the contention of the applicant that they have paid the amount in excess in the month of April 2004 and May 2004. We are therefore of the view the fact regarding excess payment is required to be verified by the Commissioner (Appeal). Accordingly we waive the pre-deposit and remand the case back to Commissioner for decision on merit ...

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Taxable Service Category to be changed from CICS/CCS to WCS by contractors or builders

CA Ashish Gupta With the introduction of Negative List Approach under Service Tax Regime, the significance of categorization of taxable services was done away and all the services were grouped under two heads i.e. Taxable & Non-Taxable. Consequently, the payment of service tax was to be made under the Head – All Taxable Services. Ho...

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Posted Under: Service Tax |

Mere consent for transfer of tenancy rights from old to new tenant by landlord is not transfer

Vinod V. Chhapia Vs. Income Tax Officer (ITAT Mumbai)

Clause 4 of the agreement indicates that the Smt Shah surrendered the tenancy rights along with the property to the assessee. If that is true, where is the need for Smt Shah to be the signatory to the agreement in giving the property on monthly rent to the new tenants and why should there be a tripartite agreement? Letting off the impugne...

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S.115JB Provision for doubtful debt to be added to Book Profit for MAT Calculation

Eastern India Powertech Ltd. Vs. Addl. CIT, Range 10 (ITAT Delhi)

In the books of account, assessee had made provision for doubtful debts for this amount. The matter is sub-judice before court or arbitration. This shows that the amount was not ascertained. It remained contingent at the relevant time. Moreover, it had been gone against assessee due to amendment in Act. The amendment made by inserting cl...

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No penalty on income surrendered in survey proceedings which was disclosed in return of Income

Vasavi Shelters Vs. The Income Tax Officer (ITAT Bangalore)

There can be no concealment or non-disclosure, as the assessee had made a complete disclosure in the IT return and offered the surrendered amount for the purposes of tax and therefore no penalty under s. 271(1)(c) could be levied. The words 'in the course of any proceedings under this Act' in Sec. 271(1)(c ) of the Act are prefaced by the...

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Regarding Fixation of norms for waiver of payment of cost recovery charges for Customs staff posted at Seaports, Air Cargo Complexes, Courier Terminal, etc

Circular No. 16/2013-Customs (10/04/2013)

The matter was examined by the Board and a view emerged that in the manner of ICDs/CFSs other Customs facilities - Seaports, Air Cargo Complexes, Courier Terminals and Diamond Plazas - would merit similar exemption from the payment of cost recovery ...

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Disbursal of sums by DRT can be undertaken only with participation of Official Liquidator, who settles all claims

Societe Generale Vs Daewoo Motors India Ltd. (Delhi High Court)

The plea of learned counsel for the OL that as and when the monies become available for disbursement as a result of the proceedings under the RDDB Act they should be placed at the disposal of the OL is different from the law explained by the Supreme Court in Rajasthan State Financial Corporation (supra). What appears from a careful readin...

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CAT had no jurisdiction to compel completion of a breached contract as that is task of Civil Court

Ms. Sudha Gupta Vs DLF Ltd. (New Delhi, Competition Appelate Tribunal)

Commission has no jurisdiction to hand over the possession of plot in question to the complainant; that is the task of the Civil Court. The Hon'ble Supreme Court in the closest term has restrained to this Commission from assuming the power of the Civil Court. It is also clarified in the paragraph that this Court cannot grant any specific ...

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Posted Under: Service Tax |

Arbitrary valuation of shares not justified if shareholders succeeded in demonstrating oppression

Nagesh Kumar & Anr. Vs Nagesh Hosiery Exports Ltd. & Ors. (Delhi High Court)

It was observed by the CLB that if the Appellants failed to cooperate with NHEL for the determination of the value of the occupied premises, including land, plant and machinery and do not accept the fair value of the assets determined, the petition shall be deemed to have been dismissed. The impugned order thus makes it impossible for the...

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ST – Amendment in CESTAT appeal filing forms (S.T.-5, S.T.-6, S.T.-7)

Notification No. 05/2013-Service Tax (10/04/2013)

1. 1) These rules may be called the Service Tax (Second Amendment) Rules, 2013. (2) They shall come into force on and from the 1st day of June, 2013. 2. For Form No. S.T.-5, S.T.-6 and S.T.-7 appended to the said rules, the following Forms shall respectively be substituted, namely...

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March 2021