"13 April 2018" Archive

Queries regarding processing of refund applications for UIN agencies

Circular No. 43/17/2018-GST (13/04/2018)

The procedure for filing a refund application has been outlined under rule 95 of the Central Goods and Services Tax Rules,2017 (hereinafter referred to as 'the CGST Rules') which provides for filing of refund on a quarterly basis in FORM RFD-10 along with a statement of inward invoices in FORM GSTR-11....

Read More

GST: Recovery of arrears under existing law and reversal of inadmissible input tax credit

Circular No. 42/16/2018-GST (13/04/2018)

Legal provisions relating to the recovery of arrears of central excise duty and service tax and CENVAT credit thereof arising out of proceedings under the existing law (Central Excise Act, 1944 and Chapter V of the Finance Act, 1994)...

Read More

GST: Procedure for interception of conveyances for inspection of goods in movement, and detention, release and confiscation

Circular No. 41/15/2018-GST (13/04/2018)

Clarifying the procedure for interception of conveyances for inspection of goods in movement, and detention, release and confiscation of such goods and conveyances....

Read More

Tax on interest on Security deposit with government linked with construction of Power Plant

Jhabua Power Limited Vs Deputy Commissioner of Income Tax (ITAT Kolkata)

Jhabua Power Limited Vs DCIT (ITAT Kolkata) It is observed that the construction of Power Plant of the assessee-company was under progress during the year under consideration and in connection with the same, security deposit was required to be kept by the assessee to Commercial Tax Officer for sales-tax registration as well as with Execut...

Read More

No penalty for Making of claim not sustainable in law unless mens rea established

Thane District Central Co.-Op. Bank Ltd. Vs ACIT (ITAT Mumbai)

Mere making of claim, which was not sustainable in law, by itself, did not amount to furnishing of inaccurate particulars, unless mens rea was established, therefore, levy of penalty under section 271(1)(c) was not justified....

Read More

No tax on TDR and transfer fees received by housing society from Members

ITO Vs M/s. Presidency Co-op. Housing Society Ltd. (ITAT Mumbai)

This is an appeal filed by the Revenue against the order of Commissioner (Appeals) for the assessment year 2007-08. 2. The grievance of Revenue relates to deleting addition of Rs. 7,64,271 made by assessing officer on account of transfer fees and addition made on account of premium received by assessee from its members on utilization of T...

Read More

Addition U/s. 69A not sustainable if based on mere loose sheet found in third person premises

Riveria Properties (P) Ltd. Vs. ITO (ITAT Mumbai)

These are appeals filed by the assessee directed against the order of Commissioner (Appeals)-13, Mumbai and order of the Commissioner (Appeals)-14, Mumbai dated 28-1-2016 for the assessment year 2006-07. Since facts are identical and issues are common, these appeals were heard together and are disposed of by this common order, for the sak...

Read More

No service tax leviable on security services provided by police to Banks or for Cricket Matches

Mumbai Police Vs. Commissioner of Service Tax (CESTAT Mumbai)

Fees collected by the police department is in the nature of fee prescribed for performing statutory function, which has been deposited into the Govt. treasury. In the light of the C.B.E. & C. 's circular also, there can be no levy of service tax on such activities carried out by the police department....

Read More

Assessment U/s. 153C liable to be quashed if No satisfaction recorded by AO

Zaidun Leeng Sdn Bhd Artefact Projects Ltd. (JV) Vs Dy. CIT (ITAT Nagpur)

These are cross appeals by the assessee and the Revenue emanating out of the orders of learned CIT(Appeals)-III, Nagpur for assessment years 2008-09 and 2009-10 respectively. Since the issues are connected and the appeals were heard together...

Read More

No TDS on interest on compensation under Motor Vehicles Act, 1988

The New India Assurance Co. Ltd. Vs Savitri Devi (Punjab and Haryana High Court)

Impugned in the present revision petitions are the different orders passed by Motor Accident Claims Tribunal, Bathinda, whereby the J.D.-Insurance Company was directed to deposit within 15 days the TDS amount, which has been deducted at source. The J.D. was given liberty to withdraw the TDS amount from Income Tax Department....

Read More