The Gujarat High Court allowed a chemical manufacturer’s refund claim of unutilized ITC under Rule 89, affirming SEZ units can claim refunds even when supplied via ISD. Prior precedent in Britannia Industries guided the decision.
The Court clarified that rental payments for aircraft engines fall under equipment per the India-Netherlands DTAA, and beneficial DTAA rates apply for TDS. Section 206AA cannot override these provisions.
The Delhi High Court held that TDS for non-residents without PAN should follow DTAA rates, not the 20% rate under Section 206AA. The ruling confirms treaty provisions override procedural domestic laws.
Nannapaneni Krishnamurthy Vs State of Andhra Pradesh (Andhra Pradesh High Court) The petition was filed under Section 482 of the Cr.P.C. seeking quashing of the investigation and proceedings against the petitioners, who are accused Nos. 12 and 13 in Crime No. 8 of 2021 registered at the CID Police Station, Amaravathi, Mangalagiri. The case involves […]
The Tribunal found that the creditor’s reliance on invoice-based interest was insufficient because the invoices lacked the debtor’s consent. Consequently, the principal amount alone was considered, which did not meet the statutory threshold. The case underscores the requirement that interest must be contractually established to count toward default.
The Tribunal noted that the Assessing Officers communication did not consider the assessees objections but only reiterated the basis of reopening. As the objections were not disposed of through a separate speaking order, the reassessment lacked jurisdiction. The ruling underscores that non-compliance with GKN Driveshafts cannot be treated as a mere procedural lapse.
The Tribunal emphasized that an error regarding VRS exemption made by a salaried, non-technical taxpayer cannot be classified as deliberate under-reporting. With no false claim or suppression, the 270A penalty was deleted.
Genuine sale was established through invoices, stock records, ledgers, bank proofs, and direct buyer confirmations, leaving no room for Section 68 additions. ITAT held that when sales are proved, no commission can be presumed under Section 69C.
Bombay High Court held that Brand Acquisition Agreement in respect of trademark –‘Crocin’ between parties is an agreement to Sale and such sale is not a sale within the State of Maharashtra hence not liable to sales tax @4% under Bombay Sales Tax Act, 1959.
The Tribunal held that notices under section 153C issued without independent satisfaction by the AO are invalid, quashing the consequent assessments for AY 2018-19 to 2020-21.
