"04 April 2021" Archive

No penalty if intention to evade duty is not found

Inox India Pvt Ltd Vs C.C.E. & S.T. (CESTAT Ahmedabad)01/01/1970

Inox India Pvt Ltd Vs C.C.E. & S.T. (CESTAT Ahmedabad) As regard the limitation, I find that there is no dispute that the appellant is availing the Cenvat credit and declaring in their monthly returns. The issue involved is also of interpretation of Cenvat Credit Rules and on this issue there are number of cases […]...

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Can HC quash Section 241A order withholding refund pending completion of scrutiny assessment

GE Capital Mauritius Overseas Investments Vs DCIT (Delhi High Court)01/01/1970

Whether order u/s 241A withholding refund pending completion of scrutiny assessment can be quashed by writ court under article 226 of the Constitution of India?...

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Vehicle Financing Services Taxable under Business Auxiliary Service

Commissioner of GST & Central Excise Vs TVS Motor Co. Ltd. (Madras High Court)01/01/1970

Commissioner of GST & Central Excise Vs TVS Motor Co. Ltd. (Madras High Court) The facts clearly show that there is direct nexus between the activity of TVSFS with that of the activity of the We say so because of the exclusive arrangement between the assessee and TVSFS. The Revenue has not disputed the factual […]...

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ITAT deletes addition made merely on the basis of diary noting

D .V. Sadananda Gowda Vs ACIT (ITAT Bangalore)01/01/1970

D .V. Sadananda Gowda Vs ACIT (ITAT Bangalore) Admittedly, the addition of Rs.5 lakh has been made in the case of the assessee only on the basis of diary noting, statement of VP (Finance), RNSIL, and data retrieved by using forensic tools from seized computer server (data was deleted and the same was retrieved by […]...

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Only product with solid section are classifiable as semi-finished products

Technocraft Enterprise Vs C.C. (CESTAT Ahmedabad)01/01/1970

Technocraft Enterprise Vs C.C. (CESTAT Ahmedabad) We find that the essential dispute is if the product imported by the appellant falls under Chapter Heading 72249099 or Chapter Heading 73049000. The appellant is seeking classification of the product as semi-finished product of other alloy steel. it is seen that only product with solid sec...

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AO not recorded satisfaction- Section 14A disallowance invalid

Hindustan Aeronautics Limited Vs ACIT (Karnataka High Court)01/01/1970

Where AO did not record any satisfaction with regard to genuineness of the claim of the assessee before invoking the powers under section 14A read with rule 8D, disallowance was invalid because recording of satisfaction by AO is sine qua non for invocation of power under section 14A read with rule 8D...

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SC allows Tata Sons Appeal against NCLAT order reinstating Cyrus Mistry as Chairperson

Tata Consultancy Services Limited Vs Cyrus Investments Pvt. Ltd. (Supreme Court of India)01/01/1970

Tata Consultancy Services Limited Vs Cyrus Investments Pvt. Ltd. (Supreme Court of India) Supreme Court framed the following questions of law : (i) Whether the formation of opinion by the Appellate Tribunal that the company’s affairs have been or are being conducted in a manner prejudicial and oppressive to some members and that t...

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HC explains principles for allowability of Foreign Currency Fluctuation loss

Pr. CCT Vs HCL Comnet Systems & Services Ltd (Delhi High Court)01/01/1970

(i) whether the system of accounting followed by the assessee is the mercantile system, which brings into debit the expenditure amount for which a legal liability has been incurred before it is actually disbursed and brings into credit what is due, immediately it becomes due and before it is actually received; (ii) whether the same sys...

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Enable submission of rectified Form GST TRAN-2: HC

Jigar Cars Pvt. Ltd. Vs Union of India (Gujarat High Court)01/01/1970

Jigar Cars Pvt. Ltd. Vs Union of India (Gujarat High Court) The respondents are directed to either open an online portal so as to enable the writ-applicants to again file a rectified Form GST TRAN-2 electronically, for the month of July 2017 as well as the Form GST TRAN-2 for the subsequent months from August […]...

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GST: Consider lifting of Provisional Attachment of Bank accounts: HC

Senior Intelligence Officer Vs KPN Travels India Ltd. (Madras High Court)01/01/1970

Senior Intelligence Officer Vs KPN Travels India Ltd. (Madras High Court) Learned counsel for the first respondent would submit that by attaching all 14 bank accounts, the business operations of the first respondent have been absolutely crippled and they are unable to pay salaries, discharge creditors, etc.  In the light of the above, we...

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