Tax
Incentives Received Under “Atma Nirbhar Gujarat Sahay Yojna” Can't Be Considered As Subsidy, GST Applicable: Gujarat AAAR
The Gujarat Appellate Authority of Advance Ruling (AAAR) has held that incentives received under the “Atma Nirbhar Gujarat Sahay Yojna” dated May 16, 2020, declared by the Gujarat Government could not be considered subsidies, and GST is applicable.The bench of B V Siva Naga Kumari and Sameer Vakil has upheld the AAR's order in which it was held that the incentive received by the...
Fire Incidence Beyond Control Of ONGC Petro, CESTAT Allows Customs Duty Remission
The Ahmedabad bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has allowed the customs duty remission on the goods that were destroyed as a result of the fire incident beyond the control of the assessee, ONGC Petro.The bench of Ramesh Nair (Judicial Member) and Raju (Technical Member) observed that the fire incident had taken place in the appellant's factory located...
Payment Under IPL Playing Contract, CESTAT Quashes Service Tax Demand Against Cricketer R. Ashwin
The Chennai Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has quashed the service tax demand against cricketer R. Ashwin.The bench of Sulekha Beevi C.S. (Judicial Member) and Vasa Seshagiri Rao (Technical Member) has observed that payment received under the IPL playing contract is remuneration for work, not consideration for brand promotion.The appellant/assessee,...
Decision To Cancel GST Registration With Retrospective Effect Must Be Based On Some Objective Criteria: Delhi High Court
The Delhi High Court has held that the decision to cancel the GST registration with retrospective effect must be based on some objective criteria.The bench of Justice Vibhu Bakhru and Justice Amit Mahajan has observed that the petitioner's GST registration was cancelled on account of non-filing of returns for a period of six months. There was no reason for the petitioner's GST registration to...
GST Evasion Prosecution Does Not Depend Upon Completion Of Assessment: Kerala High Court
The Kerala High Court has held that prosecution for offences under Section 132 of the CGST Act does not depend upon the completion of the assessment.The bench of Justice Mohammed Nias C.P. refused to grant bail on the grounds that there is an alleged evasion of more than Rs. 6.5 crore against the petitioner. A serious allegation is made, which warrants a thorough investigation. When...
S. 69A Of Income Tax Act Can Only Be Invoked Where Books Of Account Are Maintained: Delhi High Court
The Delhi High Court has held that Section 69A of the Income Tax Act can only be invoked where books of account are maintained.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed that the assessee is a non-resident Indian, and his source of income in India is interest on bank accounts and interest on income tax refunds. He is not obliged to maintain any books of...
12% GST Applicable On Renting Residential Dwelling Units On Monthly Rental Basis: Karnataka AAR
The Karnataka Authority of Advance Ruling has held that 12% GST is applicable to renting residential dwelling units on a monthly rental basis.The bench of M.P. Ravi Prasad and Kiran Reddy has observed the renting of residential dwellings to students and working women for residential purposes, along with amenities and facilities such as food, furniture, appliances, cleaning, security,...
No Upward Adjustment Required To Be Carried Out For Amount Received By Sony India From Its AE: Delhi High Court
The Delhi High Court has held that no upward adjustment concerning advertising, marketing, and promotion expenses (AMP) ought to have been made as the comparables chosen by the Transfer Pricing Officer (TPO) had a net margin lower than that registered by the assessee, Sony India.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed that according to the TPO's...
High-End KPO Services Provider Can't Be Compared With ITeS, Which Is BPO Services Provider: Delhi High Court
The Delhi High Court has held that the high-end knowledge process outsourcing (KPO) services provider cannot be compared with the information technology-enabled services (ITeS), which fall under the category of BPO services provider.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed that eClerx focuses on automation and process re-engineering in order to...
Investments Made Through Banking Channels Can't Be Disbelieved, Onus On Revenue To Prove Otherwise: Allahabad HC
Recently, the Allahabad High Court held that investments made through banking channels and show in regular returns cannot be disbelieved unless proven otherwise by the department.The bench comprising of Justice Saumitra Dayal Singh and Justice Shiv Shanker Prasad held there was “no room” to disbelieve investments made in the assesee company if they have been made through banking channels...
Tax Cases Weekly Round-Up: 10 To 16 December, 2023
Delhi High Court No Incriminating Material Was Found During Search: Delhi High Court Quashes S. 153A Proceedings Case Title: PCIT Versus Oxygen Business Park Pvt. Ltd. The Delhi High Court has held that the assessment for the assessment year 2011–12 was finalized on January 20, 2012, and no notice under Section 143(2) of the Income Tax Act was issued. As such,...
CBIC Notifies Mandatory Requirement Of BIS Registration And Random Sampling for Imported Electronic and IT Goods
The Central Board of Indirect Taxes and Customs (CBIC) has notified the mandatory requirement of Bureau of Indian Standards (BIS) Registration and random sampling for imported electronic and IT goods.The CBIC on review of the different practices in the implementation and streamlining the process including sampling issued the directions.The Customs Officer shall check for BIS registration in...
