"18 March 2020" Archive - Page 4

Order passed by ignoring Material Contention of Petitioner is Unsustainable

Sany Heavy Industry India Private Limited Vs State Tax Officer (Telangana High Court)

The issue under consideration is whether without considering the reply submitted by the petitioner, the respondent has passed the order is justified in law?...

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No Cenvat Credit denial for Clerical Error in mentioning Vehicle Number

Cubex Tubings Ltd. Vs Commissioner of Customs, Central Excise Central Excise and Service Tax (CESTAT Hyderabad)

Cubex Tubings Ltd. Vs Commissioner of Customs, Central Excise Central Excise and Service Tax (CESTAT Hyderabad) The issue in dispute is whether the appellant assessee is entitled to CENVAT Credit on the disputed eight invoices or otherwise. It is the case of the Revenue that no material was received by the appellant against these invoices...

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Service tax & reimbursement of equipment Lost in Hole not forms part of total turnover in computing income u/s 44BB

DCIT Vs Nabors Drilling International Limited (ITAT Mumbai)

Service tax component need not be included in the total turnover for the purpose of computing income under section 44BB of the Income Tax Act, 1961. ITAT further held that receipts on account of reimbursement of equipment Lost in Hole will not form  part of gross receipts for the purpose of section 44BB....

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Register for online Crash course on GST & Income Tax

Now-a-days, all the practitioners are tied up with so many tax compliances in every month and hence they are not able to allocate major time on learning new things. Hence we TaxGuru Edu, an educational wing of Taxguru now bring you the Crash Courses on GST and Income Tax. The motive will be to give maximum coverage in optimum time utilisa...

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 Sukanya Samridhhhi yojana as an Investment opportunity and Tax Saver

There are a lot of securities available to you to reduce your tax liability .Chapter VIA offers you so many opportunities. Sec 80 C is one of the important section in Chapter VIA which gives ample opportunities to you as per the existing Income Tax Act. You cannot claim deduction under Sec 80C under the […]...

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No transfer on acquisition of own property by assessees in the names of their childrens

Smt. R.Mangala Devi Vs ITO (ITAT Hyderabad)

Thus, it is seen that there is actually no sale of property by the assessees before us and the Sale Deed has been executed by the original owners through GPA holders to the children of assessees. Therefore, in my opinion, there is no transfer of property by the assessees in fact it is acquisition of property by the assessees in the names ...

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No section 271E penalty if payments were genuine & duly accounted

Sudha Agro Oil & Chemical Industries Limited Vs Add. CIT (ITAT Visakhapatnam)

Penalty under section 271E for violation of provision of section 269T could not be levied as assessee-company repaid loans advances otherwise than by crossed cheque, however, it substantiated with relevant documents that all the payments made by it were genuine and all the creditors accounted the loans as well as the repayments in their b...

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No provision in GST Act to Transfer AAR application or Refund Fees

In re M/s. Apar Industries Limited (GST AAR Maharashtra)

In re M/s. Apar Industries Limited (GST AAR Maharashtra) Authority for Advance Ruling is supposed to function within the parameters or the GST Act and Rules and we find that there are no specific provisions under the GST Act, to transfer such application proceeding to the concerned State and there are no provisions for refund […]...

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ITC not eligible on purchase of Paver Blocks laid on land: AAR Maharashtra

In re M/s. Sundharams Private Ltd (GST AAR Maharashtra)

Applicant contended that Laying of Paver Blocks on land does not amount to construction of Immovable property u/s. 17(5) (c) of the CGST Act, 2017 and are to be construed as moveable items. With respect to eligibility of ITC applicant has stated that, the prohibition to avail input tax credit is applicable only in respect of expenditure w...

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GST on Shatamrut Chyavan (prepared animal feed)

In re Vivek V. Ratnaparkhi- M/s. Madhurya Chemicals (GST AAR Maharashtra)

In re Vivek V. Ratnaparkhi- M/s. Madhurya Chemicals (GST AAR Maharashtra) A. Whether the classification of ‘Shatamrut Chyavan’ falling under TSH 2309 90 10 of Customs Tariff Act, 1975 as adopted to GST attracting ‘NIL’ rate (0%) of IGST (0%) CGST + (0%) SGST) as per List of Exempted Goods as per Sr. No. 102 [&helli...

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