The Revenue entertained a view that the amount received by the appellant in the name of facilitation fee, is commission from various shops and emporia for providing services of promoting or marketing or selling of goods provided or belonging to the emporia/shops, is liable to Service Tax under the category of ‘Business Auxiliary Service’ in terms of clause 19(i) of Section 65 of Finance Act, 1994.
Levy of penalty under section 271(1)(c) was not justified, where both the assessment order and show cause notice failed to state the specific charge of concealment and/or furnishing of inaccurate particulars of income by assessee.
Hyderabad bench of ITAT ruled that Telangana Corrugators Development Trust is a public charitable trust eligible for Tax Exemption. It is held so in the case of Telangana Corrugators Development Trust versus Commissioner of Income Tax (Exemptions) while allowing the appeal of Assessee.
Just because the trust has been formed for complying CSR requirements it cannot per se be the reasons for denying registration under Section 12AA of the Income Tax Act.
This has reference to recent news item appearing in CNBC TV18 titled Govt may ask PNB to pay for Fraud Liabilities on 23.02.2018 and as desired we are giving below point wise reply as under:-
Notification No. 17/2018-Customs (N.T.) In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue)
Revenue was not justified in issuing the impugned attachment notices under section 226(3), since they had already recovered more than 15 per cent of the disputed demand in view of the Office Memorandum issued by CBDT.
For the reasons mentioned in the application, the delay in re-filing the present appeal is hereby condoned.
The Delhi High Court in the case of Commissioner of Income Tax, Delhi versus M/S. MGF India Ltd wherein dismissed the revenues appeal and held that lease equalization charges can be deducted while computing book profit.
The present petition under Article 226 of the Constitution of India has been filed assailing the notice dated 28.03.2017 issued under Section 148 of the Income Tax Act, 1961 (in short, the Act) and also the order dated 25.09.2017 whereby the objections preferred by the petitioner questioning the issuance of notice dated 28.03.2017 was rejected.
