Pr. CIT Vs Mr. Peter Savio Pereira (Bombay High Court) The Tribunal notices that the assessee had received sale consideration partly in cash and partly in form of new flats to be constructed and to be allotted to the assessee. The Tribunal, therefore, correctly came to the conclusion that the assessee’s investment in such new […]
M/s. V.K. Lalco Pvt. Ltd. Vs DCIT (ITAT Mumbai) In this case the penalty was levied for wrong claim of TDS in the return of income to the tune of Rs.3,48,120/- without offering the corresponding income to tax. In fact this TDS did not belong to the assessee but appeared in the form No. 26AS […]
CIT Vs M/s. Glenmark Pharmaceuticals Ltd. (Supreme Court of India) Hon;ble Supreme Court Upheld the Judgment of Hon;ble HIgh Court and held that Arm’s length price of corporate guarantee could not be determined on the basis of comparison with bank guarantee and as such, High Court rightly affirmed the view taken by ITAT deleting the […]
The HS code for flavoured milk is 2202 9930 and the GST rate is 12% ( 6% CGST and 6% SGST) under entry no. 50 of Schedule II of Notification No. 1/2017 – Central (Rate) dated 28.06-2017 as amended.
In re M/s Sri Chakra Milk Products LLP. (GST AAR Andhra Pradesh) What is the rate of GST applicable on outward supply of Flavoured Milk? ‘Flavoured milk‘ is classifiable under tariff item 2202 9930 of the First Schedule to the Customs Tariff Act, 1975 as a beverage containing milk under HS code 2202. The rate […]
CIT Vs M/s. Reliance Life Insurance Co Ltd (Bombay High Court) Assessee had hired the services for various works such as storage of data, scanning of documents, processing charges, call centre operations etc. Looking to the nature of services outsourced, it was held that the same were basically clerical services of repetitive nature of work […]
Appellant is sending the goods through courier and till the goods reach to the buyer’s place, the appellant is the owner of the goods. In case, the buyer refused to take the delivery of the goods, the goods were returned by courier to them. In that circumstance, till the delivery of the goods to the buyer, they are the owner of the goods;
Pr. CIT Vs Lemon Tree Hotels (P) Ltd. (Delhi High Court) The question of law urged with respect to expenditure claimed towards case of Employee Stock Ownership Plan (ESOP) has been subject matter of previous orders of this Court in respect of the present assessee. For A.Y. 2008-09 in ITA 107/2017 (Commissioner of Income Tax […]
President or the Senior Vice President concerned of the Tribunal should take appropriate steps and expedite the hearing in these appeals, so as to ensure that final orders in all these appeals are announced at the earliest, preferably within four months from today.
In the absence of any material to establish that the affiliated colleges/centres were rendering services of professional or technical nature in the matter of conducting the University’s examination, we are of the opinion that the Tribunal has not committed any error of law in holding that the tax was not deductable on such reimbursement under Section 194J(b) of the Act.
