"21 November 2021" Archive

Section 114AA Penalty not leviable in absence of misdeclaration or misstatement

Chloride Metals Ltd. Vs Commissioner of Customs (CESTAT Chennai)

As per section 114AA, penalty can be levied only when a person knowingly or intentionally makes, signs or uses or causes to be made, signed or used, any declaration, statement or document, which is false or incorrect....

GST: Transitional credit of tax paid under erstwhile law is available under section 142(3)

Terex India Pvt. Ltd Vs Commissioner of GST (CESTAT Chennai)

Section 142 (3) is the transitional provision for claim of refund after the introduction of GST Act, 2017. It says that refund claims of any amount paid under the erstwhile law have to be disposed according to the provisions of the erstwhile law and the amount has to be paid in cash. The appellants have paid the tax under the erstwhile la...

Pure Services─Pre-Requisites For Leviability To GST

ARA, Rajasthan has pronounced judgment on 06.09.2021, in the case of Consulting Engineers Group Ltd. (2021) 36 J.K.Jain’s GST & VR 352, that; “a) Project Management Consultancy’ services provided to Rajasthan Urban Drinking Water Sewerage and Infrastructure Corporation (RUDSICO) under Rajasthan Secondary Towns Development Sector...

Posted Under: Custom Duty |

Original Assured’s Rights in A Re-Insurance Contract

As you know an insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. Through insurance we analyse, evaluate, estimate and transfer outcomes of risk/perils to the insurance company. The insurance company generally in lieu of [&hel...

Posted Under: Custom Duty |

Public distribution system benefit cannot be denied for non or wrong linking of Aadhaar

Ganpat Dharma Mengal & others. Vs Tehsildar Office, Murbad and Others (Bombay High Court)

The petitioner is deprived from getting foodgrains from the public distribution system simply because Aadhar card is not linked with the system. As per Government circular dated 13th October 2016, for receiving benefits of public distribution system, it is pre-requisite that Aadhaar card of each member of the family, who is entitled in th...

Property tax exemption not available to college building

Christian Medical College Vellore Association Vs Government of Tamil Nadu (Madras High Court)

Christian Medical College Vellore Association Vs Government of Tamil Nadu (Madras High Court) Facts- The petitioner is a society registered in terms of the Societies Registration Act managing and administering the Christian Medical College and Hospital at Vellore. The challenge in this Writ Petition is to an order passed by the respondent...

Amount, not qualifying as royalty or FTS, not taxable under Article 12(2) of India-Singapore DTAA

Atos Information Technology Singapore Pte Ltd Vs DCIT (ITAT Mumbai)

Atos Information Technology Singapore Pte Ltd Vs DCIT (ITAT Mumbai) Facts- The assessee is incorporated in Singapore and is also a tax resident of that country. As stated by the AO, during the year under consideration the assessee had provided certain services to its group concern in India, viz. Atos India Pvt Ltd (Atos India) […]...

Conversion of natural gas to CNG is Manufacture & Additional depreciation Allowable

Addl. CIT Vs Indraprastha Gas Ltd. (ITAT Delhi)

When a commodity acquired a distinct name, use and commercial identity, it would acquire the trait of 'manufacture'. Therefore, the activity of conversion of natural gas to compressed natural gas was entitled to avail  additional depreciation under section 32(1)(iia)....

Board & General Meetings & Minutes of Section 8 Company

A Section 8 Company is a not-for-profit organization which basically, needs to adhere to the following three conditions: 1. The Company has in its objects the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object; 2. intends to apply its prof...

Posted Under: Custom Duty |

Section 60(5) IBC- Is there a limitation on jurisdiction of NCLT?

INTRODUCTION Section 60 (5) of the Insolvency and the Bankruptcy Code, 2016, talks about the jurisdiction of NCLT to dispose of the matters related to the insolvency concerning the corporate debtor. However, there are other provisions in the code that appears to contradict the provision given under section 60 (5). This issue again came in...

Posted Under: Custom Duty |

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February 2024