"12 April 2019" Archive

Bagasse not a manufactured product- Allahabad HC quashes CBIC Circular

M/s. Balrampur Chini Mills Ltd Vs Union of India (Allahabad High Court)

M/s. Balrampur Chini Mills Ltd Vs Union of India (Allahabad High Court)  Allahabad High Court has held that Cenvat credit need not be reversed in respect of bagasse which is an agricultural waste and not a manufactured final produ The High Court quashed CBIC Circular No.1027/15/2016-CX, dated 25-4-2016 which treated bagasse as exempted p...

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No additional fees on Filing DPT-3 Form pending deployment

General Circular No. 05/2019 12/04/2019

Pending the deployment of DPT-3 Form on MCA 21 portal and in order to avoid inconvenience to stakeholders on account of various factors, it is stated that the additional fee, as provided under the Companies (Registration Offices and Fees) Rules, 2014, shall be levied after 30 days from the date of deployment of the DPT- 3 form on MCA 21 p...

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HC on Power of Commissioner to order provisional attachment under CGST Act, 2017

Ms. H.M. Industrial Pvt. Ltd Vs Commissioner, Cgst And Central Excise (Gujarat High Court)

Ms. H.M. Industrial Pvt. Ltd Vs Commissioner, CGST And Central Excise (Gujarat High Court) Section 83 of the CGST Act inter alia provides that where during the pendency of any proceedings under sections 67, 73 or 74, the Commissioner is of the opinion that for the purpose of protecting the interest of the Government revenue, […]...

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Profiteering Complaints Adjudicated by NAA In 2018

During the year 2018, the NAA has passed 28 orders against the complaints referred to it. Following is the gist of NAA Orders issued in 2018. It may be noted that out of 28 Orders, Anti-profiteering could not be established in 18 cases....

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Posted Under: Excise Duty |

Addl CIT cannot exercise powers of AO without valid jurisdictions U/s. 120(4)(b

ACIT Vs M/s Tata Sons Ltd., Bombay House (ITAT Mumbai)

In the absence of a valid order u/s 120(4)(b) as well as section 127(1) of the Act the Additional Commissioner of Income Tax could not have exercised powers of an Assessing Officer to pass the impugned assessment order....

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TDS u/s 194H not deductible on discount to prepaid card distributors for SIM card supply

Ms Idea Cellular Ltd Vs ACIT (ITAT Delhi)

Section 194 H was applicable on on the discount allowed by assessee to the prepaid card distributors in respect of supply of SIM card/Recharge vouchers (SIM/RV)....

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Sec 54 exemption allowable on property purchased outside India prior to amendment in 2015

I.T.O. Vs Shri Mahesh Gobind Dalamal (ITAT Mumbai)

Conclusion: Exemption under Section 54 was available to assessee for properties purchased in foreign countries as there was no condition in the provision that the property must be purchased in India prior to amendment in the provision in 2015....

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Stock-in-trade transfers in the year in which sale deed gets executed

Shri Challa Ramakrishna Vs ACIT (ITAT Hyderabad)

ITAT held that Stock- in-trade can be considered as transferred only in the year in which the assessee has executed the sale deed transferring the stock-in-trade and not when the assessee has given stock-in-trade for joint development to the builder. As already held in the above cases, the provisions of section 2(47)(v) would apply only t...

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CBDT Central Action Plan for first Quarter of FY 2019-20

F.NO. 380/1/2019-IT(B) 12/04/2019

IAP: 2019-20 (For Departmental use only) MOST IMMEDIATE BY FAX F.NO. 380/1/2019-IT(B) Government of India Ministry of Finance Department of Revenue Central Board Direct Taxes North Block, New Delhi 12th April 2019 To All Pr. Chief Commissioners of Income tax & Pr. Director Generals of the attached Directorates of CBDT Subject: Centra...

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Sec. 44BB Service tax Reimbursement not forms part of aggregate amount

Director of Income Tax International Taxation Vs M/s Schlumberger Asia Services Ltd. (Uttarakhand High Court)

The amount reimbursed to the assessee (service provider) by the ONGC (service recipient), representing the service tax paid earlier by the assessee to the Government of India, would not form part of the aggregate amount referred to in clauses (a) and (b) of sub-section(2) of Section 44BB of the Act....

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