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Archive: 23 December 2019

Posts in 23 December 2019

TDS credit allowable irrespective of deposit by deductor

December 23, 2019 4659 Views 1 comment Print

Aricent Technologies Holdings Ltd. Vs ACIT (ITAT Delhi) Conclusion: Credit for tax deducted at source, which was deducted from the account of the deductee, by the deductor, was to be allowed as taxes paid in the hands of the deductee, irrespective of the fact whether the same had been deposited by the deductor to the […]

CIT not justified in invoking revisionary jurisdiction on issue decided by AO by taking a possible view

December 23, 2019 1566 Views 0 comment Print

Hon’ble Supreme Court had categorically held that the twin conditions are to be satisfied cumulatively by the ld CIT before invoking his jurisdiction u/s 263 of the Act viz (i) order of the AO should be erroneous and (ii) it should be prejuducial to the interests of the revenue

Baroda Cricket Association eligible for Section 11 & 12 exemptions : HC

December 23, 2019 645 Views 0 comment Print

CIT (Exemptions) Vs Baroda Cricket Association (Gujarat High Court) 1. By this appeal under section 260A of the Income Tax Act, 1961, the appellant Revenue has challenged the order dated 11.06.2019 made by the Income Tax Appellate Tribunal, Ahmedabad Bench ‘B’ in ITA No.2675/Ahd/2017 for assessment year 2014­-15 by proposing the following three questions stated […]

HC explains provisions of Sections 129 & 130 | Detention, seizure, confiscation | GST

December 23, 2019 44016 Views 0 comment Print

Synergy Fertichem Pvt. Ltd Vs State of Gujarat (Gujarat High Court) (i) Section 129 of the Act talks about detention, seizure and release of goods and conveyances in transit. On the other hand, Section 130 talks about confiscation of goods or conveyance and levy of tax, penalty and fine thereof. Although, both the sections start […]

Keep Away From Benami Transactions

December 23, 2019 10635 Views 0 comment Print

INTRODUCTION ‘Benaml’ means ‘no name’ or ‘without name’. Benami properties are those that ore held by an owner through proxies. The property is purchased in the name of or held In the name of a person who has neither paid for it nor actually enjoys it it may even be held in the name of […]

NAA held Johnson & Johnson guilty of Profiteering of Rs. 230 Cr.

December 23, 2019 855 Views 0 comment Print

Director General of Anti-Profiteering Vs Johnson & Johnson Private Limited (National Anti-Profiteering Authority) Profiteered amount is determined as Rs. 2,30,40,74,132/- as per the provisions of Rule 133 (1) of the above Rules as has been computed vide Annexure-13 of the Report dated 24.06.2019. Accordingly, the Respondent is directed to reduce his prices commensurately in terms […]

GST on Flour Mixture of Grams, pulses, leguminous vegetable with cereal flour/Rice flour

December 23, 2019 39762 Views 0 comment Print

In re Chellasamy Nadar Deivarajan (Mahalakshmi Store) (AAR Tamilnadu) Whether the unbranded mixture of flour of pulses and grams i.e. leguminous vegetables and cereal flours fall under the HSN Code 1106 and 1102 respectively though blending of leguminous flour added with very small quantity of rice flour or maize flour (without adding salt or any […]

NFC Board manufactured with Rice husk mainly classifiable under CTH 441193

December 23, 2019 6168 Views 0 comment Print

In re Papaka Herbs & Spices private Limited (GST AAR Tamil Nadu) Whether the Rice Husk Board manufactured by the applicant comprising of Natural Fibre (Rice Husk Powder); Calcium carbonate, recycling waste and other processing aid as well as PVC resin, wherein PVC acts only as a bonding agent would remain classified as wood and […]

Industrial Development Scheme, 2017 for UT of J & K and Ladakh

December 23, 2019 939 Views 0 comment Print

Industrial Development Scheme, 2017 for Union Territory of Jammu & Kashmir and Union Territory of Ladakh MINISTRY OF COMMERCE AND INDUSTRY (Department for Promotion of Industry and Internal Trade) NOTIFICATION New Delhi, the 23rd December, 2019 F.No. 2(2)/2018-SPS.— The Central Government hereby makes the following amendments in the Government of India Notification No. 2(2)/2018-SPS dated […]

Pay your 4th & last installment of Advance Tax by 15th March, 2020

December 23, 2019 2949 Views 0 comment Print

Thank you Taxpayers … Your Income Tax is making it possible for more Indians to access quality healthcare. Pay your 4Th & final installment (100% of Advance Tax) for FY. 2019-20 by 15th March, 2020 Taxpayers liable to pay Advance Tax Any assesses, including salaried employee, whose tax liability for the financial year as reduced […]

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