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Archive: 26 March 2022

Posts in 26 March 2022

No exemption from TCS on Purchase of Tendu leaves from Forest Department for Sale to manufacturer of bidis

March 26, 2022 7017 Views 0 comment Print

Gondia Beedi Leaves Contractors Association Vs Union of India (Bombay High Court) It is admitted that the re-sale of Tendu leaves, as it is without any process, after purchase from the Forest Department would amount to trading which does not qualify for exemption under sub-section (1A) of Section 206C of the Income Tax Act. It […]

AO cannot impose penalty without proving concealment by assessee

March 26, 2022 2562 Views 0 comment Print

Jhodinda Bhojpura Gram Sewa Sahakari Samiti Ltd Vs ITO (ITAT Jaipur) It is well-settled that assessment proceedings and penalty proceedings are separate and distinct and as held by the Supreme Court in the case of Ananthraman Veera singhaiah & Co.Vs. CIT [1980] 123 ITR 457, the finding in the assessment proceedings cannot be regarded as […]

NCDRC cannot Direct to Amend Pleadings: SC

March 26, 2022 4743 Views 0 comment Print

We hold that the appellant could not have been directed to amend the complaint to challenge the repudiation of the contract of insurance. The appellant has stated that it does not wish to do so.

Expense on Installation of ERP package abandoned midway is revenue expenditure

March 26, 2022 756 Views 0 comment Print

DCIT Vs Landis+ Gyr Ltd. (ITAT Kolkata) Expenditure incurred for construction / acquisition of new facility which had to be abandoned midway will be allowable as a revenue expenditure as incurred wholly or exclusively for the purpose of assessee’s business. It is to be noted that in the instant case also, the expenditure incurred by […]

No section 68 additions if appellant not produced any books of accounts

March 26, 2022 5694 Views 0 comment Print

DCIT Vs Rakesh Kumar Agrawal (ITAT Indore) The appellant also agitated the making of the addition on the legal ground that since as per the AO’s own version, during the course of the assessment proceedings, the appellant had not produced any books of account and therefore, the question of finding any credit entry as regard […]

CESTAT allows refund of CVD/SAD as after 30.06.2017 under GST regime credit is not available

March 26, 2022 5184 Views 0 comment Print

Refund of CVD and SAD in question is allowable, as credit is no longer available under the GST regime, which was however available under the erstwhile regime of Central Excise prior to 30.06.2017. Accordingly, I hold that the appellant is entitled to refund under the provisions of Section 142(3) and (6) of the CGST Act.

Insurance claim cannot be denied merely for alleged involvement of Person Insured in Multiple Motor Accidents

March 26, 2022 729 Views 0 comment Print

Divisional Manager, National Insurance Co. Ltd. Vs Sunil Majhi (Orissa High Court) HC held that no logic is there in the contention of the Appellant that because the accused is involved in more than one accident at different points of time, the claim of compensation contemplated under Sec.166 of the M.V. Act would be nullified […]

BSE revises Annual Listing Fees for securities & Privately Placed Debt Instruments

March 26, 2022 5838 Views 0 comment Print

BSE has vide Notice No. 20220326-1 Dated 26 Mar 2022 revised its Annual Listing Fees to be paid by the listed entities for listing of its securities on the Exchange and vide Notice No.  20220326-2 Dated 26 Mar 2022 it has revised its Annual Listing Fees to be paid by the listed entities for listing […]

HC Quashes penalty order passed in violation of principle of natural justice

March 26, 2022 918 Views 0 comment Print

Mayur Batra Vs ACIT (Delhi High Court) Petitioner states that before levying the penalty under section 271(1)(c), the replies of the petitioner filed on 17th December, 2021 and reiterated as well as uploaded on 22nd and 27th January, 2022 were not considered by the respondents. He further states that the petitioner has not been granted […]


March 26, 2022 84966 Views 1 comment Print

Employees Provident Fund and Employees State Insurance are two social security scheme availably to the working class in India. These are the central government schemes, comes under the jurisdiction of The Ministry of Labour and Employment.  Both the schemes introduced with the objective to improve the working class condition. It’s the employer’s duty to register […]

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