"09 December 2019" Archive

Liability to pay CST on mere presumption of any pre-existing contract is invalid

Advance Paints (P) Ltd. Vs The Commercial Tax Officer (Madras High Court)

Advance Paints (P) Ltd. Vs Commercial Tax Officer (Madras High Court) Admittedly, before the Assessing Authority himself adequate proof of movement of goods from Tamil Nadu to Kerala had been produced by the Assessee. In support of the branch transfer/ stock transfer made by the Assessee, the prescribed Form “F” were also furnished by...

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SVLDR 2019 Circular dated 25.09.2019 is not violative of Scheme: Delhi HC

Nidhi Gupta Vs Union of India and Anr. (Delhi High Court)

Nidhi Gupta Vs Union of India and Anr. (Delhi High Court) In view of Rule 3 of the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019, which is floated under the provisions of Finance Act, 2019, and looking to the definition of “amount in arrears”as stated herein above, by no stretch of imagination it can be […]...

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GST शास्त्र : Joint Development Agreement ‐ Taxability & other aspects

After 1st April, 2019, real estate sector has undergone massive changes as far as GST implications are concerned. Hence, it is important to revisit law, understand taxability impacts and other aspects in respect of joint development agreement. Joint development agreements are normally entered into either on revenue sharing basis or area s...

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GST Seva Kendras resolve complaints related to GST

CBECMITRA, a pan-India helpdesk, a national toll-free number and GST Seva Kendras have been established to resolve taxpayer grievances relating to Goods & Service Tax (GST)....

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Search Assessment under Section 153A & Section 153C

This article covers some of the basic but important issues faced by the Assessing Officer in Search assessment. It also covers the judicial history of the issue and stand taken by the Department. After completion of search by the Investigation Wing, correct application of the provision of the Income Tax Act and assessment of true income o...

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A Bird’s Eye View of HUF Taxation in India

Considering the unique social, cultural and economic dynamics of Indian joint family, the Income Tax Act has given the status of separate legal entity to Hindu Undivided Family(HUF) under section of 2(31) of the IT Act. This article discusses various aspects of HUF taxation, touching upon recent judicial decisions which help to understand...

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Principles of Cross Examination in Context of Income Tax Proceedings

The issue of cross examination of witnesses in Income Tax proceedings has seen substantial litigation before various appellate fora. Many a time, income tax assessments, otherwise sound on facts and merits, suffer adverse consequences due to opportunity of cross examination not being provided to the assessees....

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NAA held Builder Guilty of not passing ITC benefit to Flat Buyers

Pawan Kumar Vs S3 Buildwell LLP (National Anti-Profiteering Authority)

Pawan Kumar Vs S3 Buildwell LLP (National Anti-Profiteering Authority) Provisions of Section 171 of the CGST Act, 2017 are aimed at ensuring that the recipients get the commensurate benefit, in the form of reduction in prices, in case of any tax rate reduction and/or incremental benefit of ITC which has become available to them due [&hell...

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Classification of Bituman Emulsion under TNVAT Act, 2006: Madras HC

Bharat Petroleum corporation Ltd. Vs Deputy Commissioner (CT-I) LTU (Madras High Court)

Bituman in its original form is solid but melts when heats, for it is used in molten stage. There is no difficulty to appreciate that bitumen emulsion comes into  existence when bitumen is treated with emulsifiers and other chemicals to attain a liquid form. It has a huge advantage and add benefit because it is not to be heated and detai...

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Taxability of Capital Gain in Case of Joint Development Agreement (JDA)

Individuals/ HUF who enters Joint Development Agreement with the builder are liable to capital gains in the year in which the certificate of completion is issued by the competent authority....

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January 2022