"07 March 2018" Archive

Concept of unjust enrichment not applies on export of service

M/s. Western Union Financial Services Inc. Vs. CST (CESTAT Delhi)

M/s. Western Union Financial Services Inc. Vs. CST (CESTAT Delhi) Appellant is to the effect that for export of service, the concept of unjust enrichment itself will not apply. To support this contention, they relied on various decided cases. The Tribunal in Pulcra Chemicals (India) Pvt. Ltd. (supra), Wienerberger Brick Industries Pvt. ...

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Software supplied Separately cannot be considered part of relevant Device for Excise Duty Levy

M/s. Siemens Ltd Vs. CCE & ST (CESTAT Chennai)

M/s. Siemens Ltd Vs. CCE & ST (CESTAT Chennai) Lower authorities have inter-mixed the embedded software with the customized software supplied latter for monitoring and data retrieval from the device. From the discussions above, it is clear that a devise should suffer Central Excise duty along with essential operating software which is...

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Certificate U/s. 80G would not automatically lead to exemption from purview of Payment of Bonus Act, 1965

Batra Hospital Employees Union Vs. Batra Hospital & Medical Research (Delhi High Court)

Batra Hospital Employees Union Vs. Batra Hospital & Medical Research (Delhi High Court) It would be hazardous to presume that every organization, which is certified under Section 80-G of the Income Tax Act, would, of necessity, be entitled, ipso facto, to immunity from the applicability of the Payment of Bonus Act. There is substance,...

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In absence of provisions Penal Interest can’t be Levied under Tamil Nadu Tax on Luxuries Act, 1981

Tvl. Hotel Peacock Vs. The Commercial Tax Officer (Madras High Court)

While hearing the case between Tvl. Hotel Peacock vs. The Commercial Tax Officer, Madras High Court proclaimed in its recent order that penal interest can’t be levied under Tamil Nadu Tax on Luxuries Act 1981 since there is lack of provision....

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CBEC amends E-Way Bill rules: CGST (Second Amendment) Rules, 2018

Notification No.12/2018–Central Tax (07/03/2018)

138. Information to be furnished prior to commencement of movement of goods and generation of e-way bill.- (1) Every registered person who causes movement of goods of consignment value exceeding fifty thousand rupees—...

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Last Date for Submission of GST TRAN-2 extended upto 31 March 2018

CBEC has extended Last Date for Submission of GST TRAN-2 extended upto 31 March 2018 vide Notification No.12/2018 – Central Tax dated : 7th March 2018. Relevant Extract is as follows:- 2. In the Central Goods and Services Tax Rules, 2017, – (i)   with effect from the date of publication of this notification in the […]...

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Posted Under: Service Tax |

Income from Sub-letting of Property is taxable as Other Income

ITO Vs. M/s Natraj Vinimay Pvt. Ltd. (ITAT Kolkata)

Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently held that income earned by the assessee from sub-letting of property under leave and license agreement for a temporary period is taxable under the head income from other sources and not under the head business income since the sub-letting was not an object of the assessees’ ...

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Delhi HC set-aside order Revoking Customs Broker License for mis-declaration in consignment

M/s KVS Cargo Vs. Commissioner of Customs (Gen) (CESTAT Delhi)

M/s KVS Cargo Vs. Commissioner of Customs (Gen) (CESTAT Delhi) During the course of investigation, statements of both S/Shri Dinesh and Vinod Kumar have been recorded more than once. Both the persons have admitted the fact that Shri Vinod Kumar is the owner of the imported goods but Shri Dinesh was shown as proprietor of […]...

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Gift tax not applicable on share transfers or transfer of property to effectuate a settlement

Commissioner Of Gift Tax Vs. Ramesh Suri (Delhi High Court)

The difference between the market value of the shares and the value of the transfer was held to constitute deemed gift under Section 4 and that amount was brought to tax. The Gawahati High Court found that the transfer was pursuant to a family settlement and stated that the provisions of the Gift Tax Act would not be applicable....

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HC held expense on Repair & Maintenance by Rambagh Palace Hotels as Revenue in Nature

Principal Commissioner Of Income Tax– 7 Vs Rambagh Palace Hotels Pvt. Ltd. (Delhi High Court)

The Delhi High Court recently ruled that the repair and maintenance expenditure incurred by a Hotel is revenue expenditure under the Income Tax Act. ...

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