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Recovery of Redemption fine from Sale Proceeds- CESTAT refers matter to Larger Bench

March 13, 2020 1467 Views 0 comment Print

Commissioner of Customs Vs Oriental Trimex Ltd. (CESTAT Delhi) If the confiscated goods allowed to redeemed on a redemption fine then the sale proceeds will be paid only after deduction of such fine In the given case the importer appellant is engaged in the business of import of marble from various countries into India and […]

No Section 271B Penalty if Tax Audit Report not submitted due to misinterpretation of CBDT Circular

March 13, 2020 2469 Views 0 comment Print

Undisputedly, the assessee has obtained the tax audit report on 10th September 2013, i.e., much before the due date of filing of return of income. However, as stated by the assessee, due to lack of clarity and misinterpretation of the Circular issued by the Board, the assessee did not filed tax audit report before the due date of return of income. In our view, the aforesaid explanation furnished by the assessee appears to be plausible, therefore, benefit of doubt can be given to the assessee

Regular bail with suitable conditions allowed in wrongful ITC availment case

March 13, 2020 651 Views 0 comment Print

Amit Shah seeks regular bail in Gujarat High Court for GST Act offences. Court considers arrest duration, charge nature, and conditions for release.

No penalty if tax alongwith interest paid before issuance of SCN

March 13, 2020 13815 Views 0 comment Print

YCH Logistics (India) Pvt. Ltd Vs C.C.E & C.S.T (CESTAT Bangalore) The services imported by the assessee are taxable services and are chargeable to Service Tax but they had not paid the Service Tax applicable on the same. The assessee were liable to pay the Service Tax on import of such services as a recipient […]

Service tax is applicable on clubs or associations incorporated prior to 1st July, 2012

March 12, 2020 1416 Views 0 comment Print

Principal Commissioner of Central Tax Vs Indian Medical Association (Delhi High Court) The issue under consideration is that whether service tax is applicable on clubs or associations incorporated prior to 1st July, 2012? The definition of “club or association” contained in Section 65(25a) makes it plain that any person or body of persons providing services […]

C-Form benefits cannot be rejected merely for belatedly filing

March 11, 2020 3576 Views 0 comment Print

TATA Hitachi Construction Machinery Company Pvt. Ltd. Vs State of Karnataka (Karnataka High Court) The issue under consideration is whether Tribunal was correct in rejecting the C-Forms submitted by the petitioner and hence denying statutory benefits? The Appellate Tribunal at the threshold has rejected the declaration forms on the ground of delay. It is well […]

Capital Gain cannot be taxed to GPA holder, who is not the owner

March 10, 2020 10017 Views 1 comment Print

This appeal by the assessee has been directed against the order of Ld. CIT(Appeals) challenging the additions on account of long term capital gains arising from transfer of land and also an addition on account of short term capital gains arising from transfer of building.

Section 12AA registration cannot be denied merely for lack of activities by trust before application: SC

March 10, 2020 1632 Views 0 comment Print

In the given case, the object of the provision in question is to ensure that the activities undertaken by the Trust are not contrary to its objects and that a Commissioner is entitled to refuse registration if the activities are found contrary to the objects of the Trust

Section 153C Requirement should be fulfilled by AO before initiating proceedings

March 10, 2020 4131 Views 0 comment Print

In the given case, the issue under consideration is whether there is a compliance of the provisions of Section 153C of the Act by the Assessing Officer and all the conditions which are required to be fulfilled before initiating the proceedings under Section 153C of the Act have been satisfied or not?

If debt become irrecoverable then assessee can writes off it as Bad Debts

March 10, 2020 2481 Views 0 comment Print

Assessee had advanced loans to its subsidiary company. The loan was interest bearing. The Respondent- Assessee claimed that the subsidiary company became loss making company and the Respondent- Assessee took a decision to write off the loan and claim the same as bad debts.

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May 2024