"30 April 2019" Archive

CBDT to share ITR Data with GSTN

F. No. 225/105/2019/ITA.II 30/04/2019

CBDT  hereby directs that Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems), New Delhi shall be the specified income-tax authority for furnishing information respecting  assessees to the Nodal Officer, GSTN....

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GST exemption on upfront amount payable in installments for long term lease of plots

Circular No. 101/20/2019-GST 30/04/2019

Representations have been received by the Board seeking clarification regarding admissibility of GST exemption on the upfront amount which is determined upfront but is paid or payable in installments for long term (thirty years, or more) lease of industrial plots or plots for development of financial infrastructure under Notification 12/2...

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GST Applicability on Seed Certification Tags

Circular No. 100/19/2019-GST 30/04/2019

The matter has been examined. It is seen that the process of seed testing and certification followed in the state of Tamil Nadu, as prescribed in the Seeds Act, 1966 and elaborated in the Manual on Seed Production and Certification, published by Centre for Indian Knowledge Systems, Chennai, involves the following steps:...

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Notice issued by AO without specifying grounds of penalty is not valid

Smt. Jayalakshmi Vs ITO (ITAT Bangalore)

Where AO had issued the notice of penalty without specifying the grounds on which the same was imposed, imposition of penalty was unjustified, because this being a mandatory requirement could not be construed as a mere technical error....

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No service tax on amount received from BCCI towards prize money

CCE & ST Vs L. Balaji (CESTAT Chennai)

CCE & ST Vs L. Balaji (CESTAT Chennai) Conclusion: Cricket players were not liable to pay service tax on the amount received from the franchise as the money was not given by the franchise, rather it was the money received from BCCI directly for winning and not towards any services. Held: Revenue proceeded against the […]...

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Section 142A: Reference of matter to DVO by AO for valuation of property is not mandatory

ACIT Vs M/s. Ardra Associates (ITAT Cochin)

provisions of section 142A of the Act provides that the Assessing Officer may refer the matter to the DVO for the purpose of estimation of the value of the asset, property or investment and get a copy of the report from the DVO. The word ‘may’ makes it discretionary to refer the matter to the DVO. It cannot be said by any stretch of i...

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Section 54F Deduction cannot be denied for mere non deposit of amount in bank a/c

Nandkishore Ramanlal Parikh- HUF Vs ITO (ITAT Ahmedabad)

Where assessee did not deposit sale consideration in the bank account maintained under the capital gains scheme before the due date of filing of return but otherwise purchased new house within two years, as stipulated in section 54F(1), then deduction under section 54F could not be denied to assessee....

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Tax reference can be filed in Hindi accompanied with authentic English version

Krishna Yadav VS. The State Of Bihar (Patna High Court)

A petition under Article 226 and 227 of the Constitution of India or a tax reference can be filed in Hindi but it will have to be accompanied by an English version as well which shall be the authentic version of the petition for all legal purposes so long as the Notification dated 9th of May 1972 stands. ...

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No Tax on Amount received by a partner on his retirement from firm

Pr. CIT Vs Smt. Hemlata S Shetty (Bombay High Court)

Pr. CIT Vs Smt. Hemlata S Shetty (Bombay High Court) Amount received by a partner on his retirement and the partnership firm is not subjected to tax in the retiring partner’s hands in view of Section 45(4) of the Act. The liability, if any, to pay the tax is on the partnership firm in view […]...

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India-Ireland DTAA: Software sale consideration not constitute royalty

Ixia Technologies International Ltd. Vs ACIT (ITAT Kolkata)

Consideration received by assessee for use of or for granting the right to use a computer software would not amount to royalty as the amount received by assessee towards sale of software was on account of sale of 'copyrighted article' and not on transfer of any 'copyright right'.Hence, the said sale proceeds could not be characterised as ...

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