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"18 December 2019" Archive

Mere dismissal of SLP by SC does not constitute a declaration of law

P. Singaravelan & Ors. Vs The District Collector Tiruppur and DT & Ors (Supreme Court)

P. Singaravelan & Ors. Vs The District Collector Tiruppur and DT & Ors (Supreme Court) It is useful to recall that it is well-settled that the dismissal of an SLP against an order or judgment of a lower forum is not an affirmation of the same. If such an order of this Court is non-speaking, […]...

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E-invoice and QR Code under GST- 10 Things to know

E-invoice and QR Code (Notification no. 68, 69, 70, 71 & 72/2019 –Central Tax all dated 13th December, 2019) 1. Starting from April 1,2020 a new invoicing system is to be introduced in the GST business process. A standardised protocol will be enabled to generate and read electronic invoices. 2. An e-invoice raised by a […]...

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Posted Under: Corporate Law |

Is E-Invoicing under GST a Boon?

Background The transportation of goods from one place to another is facilitated by the filing of ‘E-Way Bills’ on the common GST portal. Similarly, the GST Council has decided to implement a system of e-invoicing which will be applicable to specified categories of persons (For large Taxpayers). e-invoicing is not the generation of inv...

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Posted Under: Corporate Law |

Company with huge asset base cannot be compared with company having insignificant assets

Evalueserve.com Pvt. Ltd. Vs DCIT (ITAT Delhi)

If a company is having huge asset base, brand value, goodwill and presence in global market with significant R & D, then it cannot be compared with a company which is purely captive service provider in ITeS/BPO, having low risk and insignificant assets....

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A Brief about New Section 194M of Income Tax act, 1961

A New section, 194M has been introduced vide finance act, 2019 with regard to Payment of certain sums by certain individuals or Hindu undivided family, which reads as follows: Any person, being an individual or a Hindu undivided family (other than those who are required to deduct income-tax as per the provisions of section 194C, section...

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Posted Under: Corporate Law |

No penalty on additional income disclosed voluntarily in return filed in response to Section 153A notice 

Mukesh D. Manglani Vs ACIT (ITAT Ahmedabad)

Assessee had disclosed additional income in return filed in response to notice issued under section 153A voluntarily, hence, there could not be any penalty under Expln. 5A to section 271(1)(c) as income disclosed by assessee in pursuance to search was not based on incriminating document....

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CPC-Constructive notice, not sufficient-‘Willful disobedience’ to be proved beyond doubt

Makkhan Singh Vs Shyam Singh And 3 Others (Allahabad High Court)

Makkhan Singh Vs Shyam Singh And 3 Others (Allahabad High Court) CPC-Constructive notice, held not sufficient-‘Willful disobedience’ to be proved beyond doubt-Court not to proceed on surmises or inferences As regards the contention raised on behalf of the plaintiff/petitioners with regard to presumption of service of notice in...

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Financial stringency not justify non-remittance of TDS – Penalty Justified

KBR Infratch Ltd. Vs. ACIT (Karnataka High Court)

Financial stringency would not justify the non-remittance of TDS to the Government, in as much as, it would amount to utilization of money payable to the appropriate government. As such, by extending its benevolence....

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Profiteering needs to be computed at the level of each invoice: NAA

Sh. Suresh Kumar Gupta & ors. Vs Nirala Projects Pvt. Ltd. (National Anti-Profiteering Authority)

We observe that the said provision clearly links profiteering to be a function of each supply of goods or services or both and hence, profiteering needs to be computed at the level of each invoice and not at the entity level or any consolidated level....

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NCLT: Directs for access of GST Portal to Corporate Debtor to pay GST liability

Any company once gone into CIRP, if at all the Corporate Debtor is to be run as a going concern, it can be obligated to pay the taxes from the date of initiation of CIRP. As to the dues of pre-admission period, the creditors, including Tax authorities, are entitled to make a claim against the Corporate Debtor as mentioned in the Insolvenc...

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Posted Under: Corporate Law |

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