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Archive: 16 February 2023

Posts in 16 February 2023

Demand not sustainable when Service Tax is already paid prior to its levy

February 16, 2023 1206 Views 0 comment Print

CESTAT held that, SCN under Section 73(3) of CGST Ac was issued after Service Tax amount was paid by assessee, thus, demand for tax is not sustainable

Dept admits system error in ITR processing & agreed to rectify mistake of 4.57 Crore

February 16, 2023 1587 Views 0 comment Print

It has been admitted that income of Rs.4,57,18,304/- and tax determined thereupon at Rs.87,48,804/-was due to a system error which was in process of being rectified. It is also stated that the Faceless Assessing Officer in fact has assessed income at Rs.1,920/-

Appellate authority not empower to decide on issue which didn’t originate from original authority’s order

February 16, 2023 1419 Views 0 comment Print

Calcutta High Court held that the appellate authority could not have taken a decision on an issue, which did not emanate from the order passed by the original authority.

Assessee liable to equal tax on income from house property where joint owner’s shares not mentioned in sale deed

February 16, 2023 4278 Views 0 comment Print

ITAT held that husband and wife will have equal shares in house property purchased by them as joint owners, wherein, sale deed had been executed and shares of co-owners is not specified.

Addition on account of on-money receipts restricted to GP percentage i.e. 15%

February 16, 2023 1395 Views 0 comment Print

ITAT Ahmedabad held that addition on account of on-money received @50% is on a palpably very high side. Accordingly, the same is restricted to Gross Profit percentage i.e. 15%.

Exemption notification gets effective only from date it got published in Official Gazette

February 16, 2023 1446 Views 0 comment Print

CESTAT Bangalore held that notification no. 29/2018-CUS dated 01.03.2018 was published in the official gazette only on 06.03.2018 after it was digitally signed. Hence, the said notification is effect only from 06.03.2018 and not from 01.03.2018.

HC dismisses writ petition against classification of ‘tush kuro’ as ‘rice bran’

February 16, 2023 303 Views 0 comment Print

Ajay Saha Vs Sales Tax Officer (Calcutta High Court) Petitioner contends that his product is cattle feed and is not liable to be taxed but nowhere the particular product on which the petitioner wants exemption has been mentioned in the said schedule. The schedule ‘A’ of the West Bengal Value Added Tax, 2003 simply includes […]

Initiation of revisionary proceeding u/s 263 on fishing and roving enquiry is unjustified

February 16, 2023 1287 Views 0 comment Print

ITAT Pune held that initiation of revisionary proceeding under section 263 of the Income Tax Act on a fishing and roving enquiry in the matter without bringing on record any material or evidence is liable to be quashed.

Deduction on account of expense allowable when deduction u/s 80P(2)(a)(i) is rejected

February 16, 2023 1554 Views 0 comment Print

ITAT Bangalore held that if deduction under section 80P(2)(a)(i) of the Income Tax Act is rejected then the deduction on account of expense is allowable.

Replacement/ substitution of HF Reactor is capital expenditure eligible only for depreciation

February 16, 2023 462 Views 0 comment Print

ITAT Chennai held that replacement/ substitution of HF Reactor is capital expenditure and eligible for depreciation only. Such replacement couldnt be considered as current repairs

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