Interest income earned on fixed deposits (FDs) kept as security for performance guarantee is taxable as business income and can be set off against project expenses.
Union government must now take all expeditious steps to ensure that filing by the Union government of all appeals and proceedings before the High Courts as well as the revenue tribunals, including the CESTAT and the ITAT should take place in the e-filing mode.
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HC held that benefit under SVLDR Scheme could not be denied on the ground that the quantification required to be done under SVLDR Scheme is actually self-assessment done during duration of Audit.
CESTAT Mumbai held that limitation prescribed under Section 11B of Central Excise Act, 1944 not applicable to refund claims for Service Tax paid under mistake of law.
Delhi High Court held that the issue relating to passing on the liability or reimbursement thereof does not relate to the taxing power of the state or any action taken or an order made in exercise thereof. The contention that the dispute raised is non-arbitrable on the aforesaid ground is thus negative.
Delhi High Court held that prima facie case is made out against the petitioner culpable under section 3 of the Prevention of Money Laundering Act, 2002 as property was obtained as the result of the criminal activity relatable to the scheduled offence.
The jurisdiction of the Committee is State and it will receive grievances relating to high-pitched assessment orders passed from the level of Dy. Assistant Commissioners (ST)to Deputy Commissioners (ST) The Head-Quarters of the Committee is CGST Office.
