Judiciary

Transfer of shares cannot be construed as transfer of assets

M/S Gillette India Limited Vs Delhi Development Authority (Delhi High Court)

M/s. Gillette India Limited Vs Delhi Development Authority (Delhi High Court) It is well settled that shares of a company are a separate asset wholly distinct from the assets held by the company. In the present case, there was dilution of the share capital of TGC as well as transfer of shares held by the […]...

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Online Database access fee is Business Income, not Royalty or FTS

Elsevier Information Systems GmbH Vs Dy. Commissioner of Income Tax (ITAT Mumbai)

Elsevier Information Systems GmbH Vs DCIT (ITAT Mumbai) Whether the subscription fee can be treated as fees for technical services. As discussed earlier, it is evident that the assessee has collated data from various journals and articles and put them in a structured manner in the database to make it more user friendly and beneficial [&he...

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Aluminium Alloys cannot be supplied under Govt. Notification no. 47/2017

In re EMMES Metals Private Ltd. (GST AAR Maharashtra)

From a perusal of the said certificate, we find from that recipient is a public funded institution and Notification No. 47/2017 is applicable in respect of supplies made to them but only goods specified in the column no. (3) of the table in the Notification are liable for concessional rate of tax @ 5%. Thus goods other than those mentione...

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Company includes partnership firm | Section 141 | Negotiable Instruments Act

G Ramesh Vs Kanike Harish Kumar Ujwal & Anr. (Supreme Court of India)

G Ramesh Vs Kanike Harish Kumar Ujwal & Anr. (Supreme Court of India) In terms of the explanation to Section 141, the expression ‘company’ has been defined to mean any body corporate and to include a firm or other association of Sub-section (1) of Section 141 postulates that where an offence is committed under Section [&he...

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No ITC on construction of Tie-in pipeline for delivery of re-gasified LNG from FSRU to National Grid

In re Western Concessions Private Limited (GST AAR Maharashtra)

In re Western Concessions Private Limited (GST AAR Maharashtra) It is clear that there are some ships which are categorized as factories in the commercial world and hence it is incorrect to argue that FRSU is not a factory by relying on selective dictionary meanings. The second contention of the applicant is that the pipeline […]...

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Central Excise and Service Tax Audit for pre GST period | section 174(2)

Suresh Kumar Singhal Vs Union of India (Rajasthan High Court)

Suresh Kumar Singhal Vs Union of India (Rajasthan High Court) Provision incorporated in the Constitution Act, 2016 as aforesaid, in no manner, restrict the operation of the provisions of section 174(2) incorporated in CGST Act beyond the period of one year, which provides that repeal of the Acts specified in sub-section (1) of section 174...

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Section 276B Prosecution for delay in payment of TDS; Late deposit not absolve accused

ITO vs. Firoz Abdul Gafar Nadiadwala (ACMM)

ITO vs. Firoz Abdul Gafar Nadiadwala (ACMM) t is well established that accused committed alleged offence. Before authority, he also remain absent. Not any application for compounding the offence is filed. It appears that there is culpable mental state of the accused for non depositing of TDS amount within time therefore, he is liable for ...

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Posted Under: Income Tax |

GST payable on Advisory service Income if service recipient located in India

In re Multiples Alternate Asset Management Private Limited (GST AAR Maharashtra)

In re Multiples Alternate Asset Management Private Limited (GST AAR Maharashtra) Whether GST is applicable on the Advisory & Management Fees received in Indian Currency from Domestic Contributors located in India for the Services rendered by the applicant? The advisory and management fees received by the applicant are for financial se...

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Officers of GST department think they are above law; HC stays provisional attachment order

Patran Steel Rolling Mill Vs Assistant Commissioner of State Tax (Gujarat High Court)

One fails to understand why the concerned officer has at all attended the proceedings, if he had not bothered to come with the files. It is evident that the concerned officer must be availing of leave as well as other benefits for the purpose of coming from Bhavnagar to Ahmedabad. However, in absence of the files, the entire purpose of co...

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Disallowance of Interest -Alleged conversion of shares held as opening stock to investments 

M/s MKJ Developers Ltd Vs ACIT (ITAT Kolkata)

Where AO had made addition of proportionate interest paid on borrowed funds on the allegation that assessee dealing in share-trading had converted its opening stock of shares to investments, the matter was remanded back to AO to determine the actual date of conversion of shares before computing any disallowance....

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