Shri Srinivasa Reddy Yenumula Vs ITO (ITAT Hyderabad) As regards the addition of Rs.18.00 lakhs towards unexplained investment is concerned, the learned Counsel for the assessee placed reliance on the judgment of the Hon’ble Supreme Court of India in the case of CIT vs. Bharat Engg. & Construction Co. reported in (1972) 83 ITR 0187 wherein […]
After issuing notice under section 153A revenue can carry out re-assessment or assessment with respect to the six immediate prior years and the year in which the search is carried out. This does not require any incriminating material recovered on search relating to those prior years; in which there is no time left, on the date of search, for an assessment under section 143.
CESTAT Chennai has held that commission received/paid for issuance of corporate guarantee to associate/subsidiary companies is not exigible to service tax under Section 65(12)(a)(ix) of Finance Act, 1994.
CESTAT Allahabad has held that benefit of service tax exemption was available on commission paid by exporter to its foreign based subsidiary for procurement of orders from foreign companies. It noted that denial of exemption would apply only in cases where export was made to own joint venture or wholly owned foreign subsidiary.
In re Tewari Warehousing Co Pvt Ltd. (GST AAR West Bengal) Whether ITC is admissible on construction of a warehouse with prefabricated building blocks? The warehouse being constructed is immovable property. The input tax credit is, therefore, not admissible on the inward supplies for construction of the said warehouse, as the credit of such tax is […]
This is the case, where despite moratorium order, Municipal Authorities have sealed the Corporate Office/Registered Office of the Corporate Debtor. Section 238 of the IBC, 2016 provides the overriding effect. Moratorium order has been passed under Section14 of the IBC on 15.10.2018. After that Municipal Corporation had no authority to seal the property of the Corporate Debtor.
In re M/s. Hyva India Pvt. Ltd. (GST AAR Maharashtra) In the present case, the Hydraulic Kit is used on bodies/ platform, detaching sides, tipper bodies falling under Chapter Heading No.8709 as well as for other trailers for transport of goods such as agricultural, public works etc., trailer (whether or not tipper) falling under Heading […]
Regarding amendment in notification No. 95/2018-Cus (N.T.) dated 06.12.2018 relating to AIRs of Duty Drawback MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 12/2019-CUSTOMS (N.T.) New Delhi, the 16th February, 2019 G.S.R. 122(E).—In exercise of the powers conferred by sub-section (2) of section 75 of the Customs Act, 1962 (52 of 1962) and sub-section (2) of […]
M/s. EPE Process Filters & Accumulators Pvt Ltd. Vs DCIT (ITAT Hyderabad) Assessee’s submissions in support of its claim u/s 37 of the Act are that it has purchased the IPL cricket match tickets to distribute them amongst its long standing customers to garner their goodwill and improve its business relations and therefore, it is […]
In re Ms. Shambhu Traders Pvt Ltd. (GST AAR Rajasthan) 1. The used lead acid batteries qualify to be second hand goods. Accordingly, the Applicant dealer is entitled to operate under the Margin Scheme in respect of the used lead acid batteries. 2. The query raised by the applicant is not specified in Section 97(2) […]
