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Archive: 01 February 2021

Posts in 01 February 2021

Cost of material supplied free of cost not includible in value of mining services

February 1, 2021 2232 Views 0 comment Print

The issue involved in this appeal is as to whether the value of items supplied free of cost by service recipient to the appellant have to be included in the value of mining services provided by the appellant.

Income Tax searches in Kolkata- Detects Rs. 309 crore concealment income

February 1, 2021 348 Views 0 comment Print

The Income Tax Department carried out search and seizure action on 29.01.2021 on the group based in Kolkata, engaged in the business of manufacturing of iron & steel and tea.

Join Online Live GST Certification Course

February 1, 2021 331098 Views 62 comments Print

Join Online Professional Development & Certification Courses on GST by TaxGuru Edu, an educational wing of TaxGuru to help you in learning GST in a practical way. Course will cover all the recent amendments made by Recent GST Notifications and also Significant amendments related to GST in Budget 2021. Faculty for the Course will be […]

ITAT accepts claim of mutuality on transfer fee but not on interest on investments

February 1, 2021 630 Views 0 comment Print

Armed Forces Officers Co-operative Housing Society Ltd. Vs ITO (ITAT Hyderabad) A perusal of the assessee’s identical pleadings in all these six appeals fails to pin point any factual distinction qua the interest issue in these assessment years before us. We therefore adopt judicial consistency and partly confirm both the lower authorities’ action disallowing the […]

e-Sanchit- Mandatory document code list revised

February 1, 2021 23676 Views 0 comment Print

Mandatory uploading of documents In e-Sanchit- Mandatory document code list has been revised removing some document codes, The updated list is given as Annexure I attached to this Public Notice.

Withholding of refundable VAT contravenes Section 36 of VAT Act

February 1, 2021 1503 Views 0 comment Print

Dharti Quarry Works Vs State of Gujarat (Gujarat High Court) We are of the view that there is no legal justification for withholding the amount referred to above, which is otherwise refundable to the writ applicants in passing of any assessment orders for the relevant assessment years. It could be said that such withholding of the refund is contrary […]

The Report of the Fifteenth Finance Commission

February 1, 2021 561 Views 0 comment Print

The Fifteenth Finance Commission (XVFC)’s ToR was unique and wide ranging in many ways. The Commission was asked to recommend performance incentives for States in many areas like power sector, adoption of DBT, solid waste management etc.

Notification No. 13/2021-Customs (N.T./CAA/Extension/DRI) dated: 01.02.2021

February 1, 2021 1023 Views 0 comment Print

Notification No. 13/2021-Customs (N.T./CAA/EXTENSION/DRI), dated: 01.02.2021- Appointing Common Adjudicating Authority MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) (Directorate of Revenue Intelligence ) Notification No. 13/2021-Customs (N.T./CAA/Extension/DRI) New Delhi, the 1st February, 2021 S.O. 490(E).—In exercise of powers conferred upon by first proviso to section 28(9) of the Customs Act, […]

GST: Documents not relied upon in SCN required to be returned

February 1, 2021 5745 Views 0 comment Print

Documents/records which are not relied upon in the show-cause notice, are required to be returned under proper receipt to the person from whom those are seized.

Analysis of SC judgment- Phoenix Arc Private Limited Vs. Spade Financial Services Limited & Ors.

February 1, 2021 4938 Views 1 comment Print

Judgment dated 1st February, 2021 of the Hon’ble Supreme Court of India in the matter of Phoenix Arc Private Limited Vs. Spade Financial Services Limited & Ors. [Civil Appeal No. 2842 of 2020 with Civil Appeal No. 3063 of 2020]

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