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Archive: 07 July 2023

Posts in 07 July 2023

Non-filing of ST-3 returns for long period confirms intent to evade tax hence extended period invocable

July 7, 2023 462 Views 0 comment Print

CESTAT Chennai held that invocation of extended period of limitation justified as non-filing of ST-3 returns for such a long period i.e., from March 2006 to March 2010 will make the intent to evade tax obvious.

Addition u/s 68 unsustainable as identity, creditworthiness and genuineness of transaction duly proved

July 7, 2023 603 Views 0 comment Print

ITAT Delhi held that addition under section 68 of the Income Tax Act unsustainable in as much as identity, creditworthiness of the creditors and genuineness of the transaction duly proved by the assessee.

Preventing Fraudulent GST Registrations: Valid Rent Agreement Requirement

July 7, 2023 8073 Views 0 comment Print

Circular on need for a valid rent agreement or leased deed for GST registration to prevent fraudulent activities and loss of government revenue.

Dividend earned from Egypt would not be taxable in India as per DTAA: ITAT

July 7, 2023 588 Views 0 comment Print

In present facts of the case, the Hon’ble Tribunal held that expenses made pertaining to Club Membership fees shall be allowed as business expenditure.

Draft Chartered Accountants (Second Amendment) Regulations, 2023 – Comments Invited

July 7, 2023 1311 Views 0 comment Print

This analysis provides an overview of the key changes and additions proposed in the draft Chartered Accountants (Second Amendment) Regulations, 2023.

Refund claim not maintainable in absence of any challenge to assessment order

July 7, 2023 498 Views 0 comment Print

CESTAT Chennai held that any refund claim is not maintainable in absence of any challenge to the assessment order as the refund authority cannot assume the role of an adjudicating / assessing authority.

Effluent treatment of industrial waste is input service and hence CENVAT admissible

July 7, 2023 789 Views 0 comment Print

CESTAT Ahmedabad held that services availed in respect of effluent treatment plant for treatment of industrial waste is in relation to the overall manufacturing activity and hence CENVAT Credit is duly admissible.

Transaction of purchase/ sale of liquor by Corporation not covered under ‘Business Auxiliary Services’

July 7, 2023 408 Views 0 comment Print

CESTAT Delhi held that the transaction of purchase and sale of liquor by the Corporation will not fall within the ambit of ‘Business Auxiliary Services’ and would, therefore, not be taxable.

Re-assessment order passed against a non-existent entity is bad-in-law

July 7, 2023 5373 Views 0 comment Print

ITAT Delhi held that reassessment order u/s 147 of the Income Tax Act against a non-existent entity is bad in law and vitiated & nullity.

Understanding Related Party Imports: Key Valuation Aspects & Compliance

July 7, 2023 6303 Views 0 comment Print

This article offers a comprehensive guide on the vital valuation aspects, customs compliance, and potential pitfalls of related party imports in India.

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