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Archive: 10 March 2022

Posts in 10 March 2022

Legal representative not liable to intimate death of assessee to Tax department

March 10, 2022 2412 Views 0 comment Print

In the absence of a statutory provision the duty cannot be cast upon legal representative to intimate factum of death of assessee to department and thus, where AO issued a notice to the assessee under Section 148 of the Act after his death and in such a case it could not have been validly served upon the assessee the said notice being invalid is required to be quashed

Mere repacking from retail to bulk & labelling not amounts to manufacture

March 10, 2022 5667 Views 0 comment Print

Global Adsorbents (P) Limited Vs Commissioner of Central Excise It is undisputed that the appellant is selling activated carbon in bags with its own name pre-printed on them. Thus, if the appellant is selling the goods with its own name on the packets, it is labeling the product. The next question is whether it is […]

Payment for Utilization of Transponder Centered on A Satellite is not Royalty

March 10, 2022 2184 Views 0 comment Print

ACIT Vs Viacom 18 Media Pvt. ltd. (ITAT Mumbai) The assessee has made payment for transponder service fees to three entities namely (1) intelsat Corporation, USA, (2) Intelsat global sales and marketing, UK and (3) MEAST satellite system, Malaysia. Assessee applied for an order u/s 195 (2) for Nil withholding tax certificates for payment of […]

Mere delay in materialisation of large real estate project cannot be treated as discontinuance of business

March 10, 2022 840 Views 0 comment Print

DCIT Vs PVP Ventures Ltd (ITAT Chennai) It is to be noted here that the assessee is already into the real estate business through its subsidiaries and also has taken over and merged an entity BREAD who owns a large chunk of land in an extent of Ac.70. Such a large project takes time to […]

Income from Unsold Flats shall be treated as Business Income

March 10, 2022 13548 Views 1 comment Print

Unique Estates Development Co. Ltd. Vs. DCIT (ITAT Mumbai) INCOME FROM UNSOLD FLATS SHALL BE TREATED AS BUSINESS INCOME OF THE DEVELOPER AND NO INCOME FROM HOUSE PROPERTY ON THE BASIS OF ANNUAL LETTING VALUE OR NOTIONAL VALUE OF RENT. FACT OF THE CASE 1. the assessee company is engaged in the business of development […]

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