Income Tax : Before going through the content of the article let us understand what the word Tax Terrorism means. The term ‘tax terrorism’ ...
Income Tax : A remedy by way of appeal from the orders of ITAT is provided both u/s.260A of the Income-tax Act, 1961 and u/s.15 (w.e.f. 6-1- 20...
Income Tax : Tax dispute resolution in the Indian context hasn’t particularly been an encouraging experience. While a portion of this taint c...
Income Tax : Tax dept says Central excise refund should be taxed because it is a benefit derived from a government scheme and is distinct from ...
Corporate Law : RADIO broadcasters have expressed concerns over the proposed move to introduce Section 33A in the Copyright Act which would give u...
Income Tax : The new Code does not provide for any appeal to the High Court. Section 192 provides for an appeal to the National Tax Tribunal, f...
Income Tax : The Delhi Income-Tax Tribunal has held that valuation of perquisite determined by the assessee relying on interpretation of Taxman...
Finance : The Supreme Court will decide whether recovery of government dues, including income tax and excise, should get priority over liabi...
Goods and Services Tax : The assessee was printing PAN cards for the Income Tax Department, Government of India. Service tax was paid on such activity. Sal...
Goods and Services Tax : Maharashtra Sales Tax Tribunal Mumbai holds devotional images made out of gold to be taxable at the rate of 1% under MVAT Act, 200...
Corporate Law : The Tribunals Reforms Bill, 2021 is introduced in Lok Sabha on 02/08/2021. The Tribunals Reforms Bill, 2021 inter alia provides fo...
The assessee was printing PAN cards for the Income Tax Department, Government of India. Service tax was paid on such activity. Sales tax authorities held that it is a works contract liable to VAT.
Maharashtra Sales Tax Tribunal Mumbai holds devotional images made out of gold to be taxable at the rate of 1% under MVAT Act, 2002 by referring to HSN, commercial parlance test, laboratory reports and dictionary meaning to decide the meaning of the word fineness under Schedule Entry B-1 of the MVAT Act, 2002.
The Tribunals Reforms Bill, 2021 is introduced in Lok Sabha on 02/08/2021. The Tribunals Reforms Bill, 2021 inter alia provides for— (i) uniform terms and conditions of service for Chairperson and Members of various tribunals, including the following, namely:— (a) Search-cum-Selection Committee for tribunals other than State Administrative Tribunals to be headed by the Chief […]
Before going through the content of the article let us understand what the word Tax Terrorism means. The term ‘tax terrorism’ was first used by the current Prime Minister Narendra Modi to describe the adversarial approach adopted by tax authorities under Congress lead UPA.
A remedy by way of appeal from the orders of ITAT is provided both u/s.260A of the Income-tax Act, 1961 and u/s.15 (w.e.f. 6-1- 2006) of the N.T.T. Act, 2005. Although appeals from the orders of ITAT are supposed to be filed only in the National Tax Tribunal from 6-1-2006, yet appeals are being filed in the High Court for good reasons. Hence, wherever reference is made to N.T.T, it may be taken/understood that the date of filing the appeal would have to be on or after 6-1-2006.
Tax dispute resolution in the Indian context hasn’t particularly been an encouraging experience. While a portion of this taint could be attributed to complexity of tax laws and efficiency levels of the administrative process, a material reason is delay in seeking resolution due to multiple layers of appeals, which currently is four.
RADIO broadcasters have expressed concerns over the proposed move to introduce Section 33A in the Copyright Act which would give unfair powers to the music societies to fix tariff and could potentially derail the radio industry already reeling under massive losses.
Tax dept says Central excise refund should be taxed because it is a benefit derived from a government scheme and is distinct from profit derived from industrial activity.IN A decision that could impact companies with operations in the north-east , Jammu & Kashmir and Himachal Pradesh, a tax tribunal in Amritsar has ruled recently that such entities will be liable to pay tax on Central excise duty refunds.
The new Code does not provide for any appeal to the High Court. Section 192 provides for an appeal to the National Tax Tribunal, from an order passed in appeal by the ITAT and Section 193 provides for an appeal to the Supreme Court from any order of the National Tax Tribunal. For the last […]
The Delhi Income-Tax Tribunal has held that valuation of perquisite determined by the assessee relying on interpretation of Taxman’s Direct Taxes Ready Reckoner, the assessee could not be deemed to be an assessee-in-default and consequently, interest under section 201(1A) could not be levied though the valuation methodology was held not justified.
