"30 January 2022" Archive

Application for GST refund cannot be rejected without recording any reasons

Colgate Global Business Services Pvt. Ltd. Vs Union of India (Bombay High Court)

Colgate Global Business Services Pvt. Ltd. Vs Union of India (Bombay High Court) A Perusal of the impugned Order indicates that the Respondent No.3 has rejected the application for refund without recording any reasons, though the same is mandatory under Rule 92(3) of the Central Goods and Services Tax Rules, 2017. In our view, the [&helli...

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MEIS benefit cannot be granted merely on the basis of pleadings which are prima facie insufficient on the face of records

Ashwini Ashish Dighe Vs Union of India (Bombay High Court)

In view of absence of documentary evidence, and the findings and discussion hereinabove, the Petitioner cannot be granted MEIS benefit merely on the basis of pleadings which are prima facie insufficient on the face of record. Hence the Petition must fail....

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ITAT set-aside Section 12A order passed by CIT(E), which was passed without considering objection of Appellant

ICMAI Registered Valuers Organisation Vs CIT (E) (ITAT Delhi)

ICMAI Registered Valuers Organisation Vs CIT (E) (ITAT Delhi) From a bare reading of the impugned order under section 12AA of the Act, it appears that the assessee has failed to respond to the requirements of the CIT(E) to enable him to appreciate the relevant facts for the purposes of registration. However, in the same […]...

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Bank needs to give benefit of interest rate reduction to all customers even if customer not opted for same

Shekar B.S. Vs Chief General Manager, Syndicate Bank (Karnataka High Court)

Shekar B.S. Vs Chief General Manager, Syndicate Bank (Karnataka High Court) Bank’s justification is, petitioner has not opted for switchover to a new system. The fact remains that bank has reduced the rate of interest from 11.75% to 8.25% with effect from 24.01.2017. It is a housing loan. The stand taken by the bank that […]...

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Activities of ‘Ernet India’ are charitable & eligible for Section 11 exemption

DCIT Vs Ernet India (ITAT Delhi)

DCIT Vs Ernet India (ITAT Delhi) The facts in brief are that assessee is an Autonomous Society under the Department of Information & Technology, Ministry of Communication & Information Technology, Government of India, which was established as a non-profitable organization. It was registered under Section 12A of the Act vide certif...

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Transport of gold was with an intention to evade tax or not needs to be appreciated by Statutory authority: HC

Kamalesh Sen Vs Assistant State Tax Officer (Kerala High Court)

Kamalesh Sen Vs Assistant State Tax Officer (Kerala High Court) It is noticed from Ext.P8, that the respondent has given a reason for initiating proceedings under Section 130. The correctness or otherwise of the said reason is not a matter which can be considered by this Court under Article 226 of the Constitution of India, […]...

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Budget 2022 – Expectations of Gem & Jewellery Sector

The Gems and Jewellery industry contributes to 7.5% to India’s Gross Domestic Product (GDP) and 14% to India’s total merchandise exports. The gem and jewellery sector is likely to employ 8.23 million persons by 2022, from 5 million in 2020. Based on its potential for growth, employment generation and value addition, the Government dec...

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Role of Adjudicating Authority under GST Act & Analytical Legal Positivism

ow does an Adjudicating Authority perform his quasi-judicial functions? Rather the question should be How should an Adjudicating Authority perform his quasi-judicial functions? First he has to read the entire statute; then interprets the various provisions of the statute; records the findings of facts; then applies legal rules to them cor...

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Reimbursement of Expenses cannot be treated as Income despite deduction of TDS

K.C. Marketing Vs ACIT (ITAT Chennai)

K.C. Marketing Vs ACIT (ITAT Chennai) Assessee has claimed various expenditure from its principal by way of reimbursement. The copies of relevant bills as well as credit notes issued by M/s Satnam Overseas Ltd. in favor of assessee has also been placed on page nos. 38 to 83 of paper-book. The statement of TDS deducted […]...

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No provision in law to tax income which Assessee could have earned but not earned

Parinee Realty Pvt. Ltd. Vs ACIT (Bombay High Court)

Parinee Realty Pvt. Ltd. Vs ACIT (Bombay High Court) According to the JAO, survey report submitted by DDIT investigation indicate that interest should be charged at 12% per annum on loan given to sister concern totaling to Rs.4,17,04,380/- and therefore income chargeable to tax has been under assessed by the said amount. According to the ...

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