Kerala High Court held as per Section 10(1)(b) of the IGST Act, the place of supply of goods in case where the supply is made on the direction of the 3rd person, it would be deemed as 3rd person has received the goods and the place of supply of such goods shall be the principal place of business of such 3rd person.
ITAT Mumbai held that the rates on which power is available through Indian Energy Exchange cannot be applied, because these are not the rates to the consumers but rates to the DISCOMs. Accordingly, transfer pricing adjustment deleted.
Delhi High Court held that the notification dated 29th January 2020, retrospectively revoking the benefit under the Merchandise Exports from India Scheme (MEIS) in respect of Flexible Intermediate Bulk Container bags, with effect from 7th March 2019, is unjustified and unsustainable in law.
Delhi High Court held that as per the scheme of PMLA that power to issue summons u/s. 50 of PMLA is different from the power to arrest u/s. 19 of PMLA. Further, issuance of summons to join investigation and give some evidence or document to the investigation agency cannot be presumed to culminate into the arrest of person being so summoned.
ITAT Bangalore held that u/s. 292C of the Income Tax Act, there is a presumption that the documents found in the possession or control of any person in the course of search, belongs to such person and contents of such document are true.
Madras High Court held that the CBDT is not empowered to fix the time limit for filing the application for compounding of offences, which is contrary to the provisions of Section 279(2) of the IT Act. Accordingly, CBDT circular dated 14.06.2019 fixing the same is liable to be struck down.
Gujarat High Court held that criminal proceedings in case of Central Excise Duty evasion quashed as there is no legally enforceable debt on the date of issuance of cheques.
ITAT Bangalore held that assessee is eligible to avail deduction of an amount representing actual write off in the books of account of bad debts relating to nonrural/urban advances in terms with section 36(1)(vii), as proviso to the said section would not apply to non-rural advances.
ITAT Kolkata rules on upfront lease premium, corporate guarantee fee, and royalty income. Key points from ACIT Vs Britannia Industries. Full order analysis.
ITAT Delhi held that foreign commission paid by the assessee to its foreign agent for arranging of export sales and recovery of payment could not regarded as fees for technical services under section 9(1)(vii) of the Act. Accordingly, disallowance of expenditure u/s. 40(a)(i) unjustified.
