"12 April 2023" Archive

Weekly newsletter from Chairman, CBIC dated 13/04/2023

DO No. 02/CH(IC)/ 2023 12/04/2023

Last week, the new CBIC E-Payment platform was rolled out. Envisaged as a platform to enable collection of Customs duties using multiple modes of payment viz. NEFT/RTGS, Internet Banking as well as the Electronic Cash Ledger (ECL) -the last being a fresh introduction....

Machining of casting amount to manufacture, Service tax not payable

Ramaben Parmar Vs C.S.T.-Service Tax (CESTAT Ahmedabad)

Ramaben Parmar Vs C.S.T.-Service Tax (CESTAT Ahmedabad) As regard the service tax on the job work carried out by the appellant, we find that the appellant have converted the casting by process of machining into a parts which is used by the principal manufacturer in the manufacture of their product. The conversion from rough casting [&hell...

Period of limitation extended by SC also applies to claim for GST refund

Tejus Vertrage Infra LLP Vs Union of India & Ors (Bombay High Court)

Tejus Vertrage Infra LLP Vs Union of India & Ors  (Bombay High Court) Period of limitation which was extended under the orders passed by the Hon’ble Supreme Court in Suo Motu Writ Petition (C) No. 3 of 2020 also apply to the claim for refund. The learned Counsel for the Petitioner states that the decision […]...

No penalty on income disclosed in revised After receipt of Reassessment Notice

Pankajkumar Babulal Tiwari Vs ACIT (ITAT Ahmadabad)

Pankajkumar Babulal Tiwari Vs ACIT (ITAT Amhadabad) Asessee under the bona fide belief not offered income on receipt from LIC in original return however rectified the same while filing the return under section 148 of the Act. The assessee also paid due tax on such receipt even before issuance of notice under section 148 of […]...

HC quashes service tax notices issued after lapse of 10 years

Satish Ch. Das & Co. Vs Commissioner of Central Excise & Customs (Orissa High Court)

After lapse of 10 years second impugned notice dated 30th October, 2017 was issued to the Petitioner asking him to appear for hearing. The Petitioner filed an application dated 9th November, 2017 before the authority expressing its inability to collect documents after such a long lapse of time....

Appeal before ITAT having tax effect of less than Rs.50 lakh have to be treated as withdrawn

ITO Vs Sk. Sahanewaj Ali (ITAT Kolkata)

ITO Vs Sk. Sahanewaj Ali (ITAT Kolkata) CBDT had modified Circular No. 3 of 2018 dt. 11/07/2018. Further, the CBDT in its circular F. No. 279/Misc./M-93/2018-ITJ, dt. 20/08/2019, has clarified that the revised monetary limits, so mentioned in Circular No. 17/2019 is applicable to all pending appeals. As per these circulars all the revenue...

Amendment to Section 40(a)(ia) vide Finance Act, 2014 is Not Retrospective  

Purulia Central Co-Op Bank Ltd Vs ACIT (ITAT Kolkata)

Sole issue for determination is ‘whether amendment made by Finance Act, 2014 to Section 40(a)(ia) is to be applied retrospectively or not’....

Default In TDS Payment – Income Tax Provisions

1) Interest Payment As per Sec 201(1A)– If any person, principal officer or company does not deduct the amount of the tax as required, he or it shall be liable to pay simple interest, — – at one per cent for every month or part of a month on the amount of such tax from […]...

IRP to take control & custody of any asset over which CD has ownership rights: IBBI

Order No. IBBI/DC/157/2023 12/04/2023

Under section 18(f) of IBC Code, Mr. S. Muthuraju being IRP of the CD from 14.06.2017 to 20.09.2017 was required to take control and custody of any asset over which the CD has ownership rights, as recorded in the balance sheet of the CD....

SEBI unveiled New Logo

Press Releases No. 8/2023 12/04/2023

Securities and Exchange Board of India PR No.8/2023 New Logo of SEBI unveiled on the occasion of SEBI Foundation Day Securities Market regulator, SEBI has a new logo from today. The new logo was unveiled at a function held at SEBI Head Office, Mumbai on the occasion of SEBI Foundation Day in the presence of […]...

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