Tax
Bombay High Court Directs Dept. To Permit Amend In GSTR-1, Either Online Or Manual
The Bombay High Court has directed the department to permit the petitioner or assessee to amend or rectify Form GSTR-1 for the period July 2021, November 2021, and January 2022, either online or manually.The bench of Justice G. S. Kulkarni and Justice Jitendra Jain has observed that a bona fide, inadvertent error in furnishing details in a GST return needs to be recognized and permitted to...
CESTAT Affirms Seizure Of Unaccounted Gutka Stored In Godowns Without Any Documentation And Declaration
The Delhi bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has affirmed the seizure of unaccounted gutka and stock of raw material stored in these godowns without any documentation or declaration.The bench of Binu Tamta (Judicial Member) has observed that it is not necessary to establish mens rea in tax matters as non-compliance with statutory provisions is...
'Input Tax Credit' Becomes Vested Right Only If The Conditions Are Fulfilled: Calcutta High Court
The Calcutta High Court has held that the input tax credit (ITC) under Section 16(1) of the GST Act becomes a vested right only if the conditions to take it are fulfilled.The bench of Chief Justice T.S. Sivagnanam and Justice Hiranmay Bhattacharyya has observed that Section 16(2) does not appear to be a provision that allows input tax credit; rather, Section 16(1) is the enabling provision,...
Section 54 Deduction Can't Be Disallowed Merely For Not Depositing LTCG In Capital Gain Account Scheme: ITAT
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that deduction under Section 54 of the Income Tax Act cannot be disallowed merely for not depositing long-term capital gain (LTCG) that was not deposited in the capital gain account scheme.The bench of Saktijit Dey (Vice President) and M. Balaganesh (Accountant Member) has adopted a hyper-technical approach while dealing with...
CBIC Decides To Levy Anti-Dumping Duty On Synthetic Grade Zeolite 4A Imported From Thailand And Iran
The Central Board of Indirect Taxes and Customs (CBIC) has decided to levy anti-dumping duty on synthetic-grade zeolite 4A imported from Thailand and Iran.The Synthetic Grade Zeolite 4A falls under tariff items 2842 90 90, 2826 90 00, 2839 90 90 and 2842 10 00 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) which originates in, or exported from the Iran and Thailand...
Delhi High Court Quashes Income Tax Notice Issued Prior To Date Of Approval Of Resolution Plan
The Delhi High Court has quashed the income tax notices and orders issued prior to the date of approval of the resolution plan.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed the notices and orders pertaining to the income tax claims of the respondents or department pertaining to the period much prior to the date of approval of the resolution plan. The notices...
No Illegality In Initiation Of Reassessment Proceedings After 10 Years Post-Search Under New Regime: Jharkhand High Court
The Jharkhand High Court had held that A.O. was justified in reopening the assessment for A.Y. 13–14 for 10 years as they had rightly taken previous sanction from the competent authority.The bench of Justice Rongon Mukhopadhyay and Justice Deepak Roshan has observed that w.e.f. April 1, 2022, the legislature expanded the scope for revenue in search proceedings via amendment in Section...
VAT Applicable On Sale Of Repossessed Vehicles: Delhi High Court
The Delhi High Court has held that the sale of repossessed vehicles is subject to the charge of value-added tax (VAT).The bench of Justice Vibhu Bakhru and Justice Amit Mahajan has observed that notices have been issued to the petitioner demanding VAT on the sale of repossessed vehicles and not on the transaction of financing the vehicles at the initial purchase.The petitioner/assessee,...
Roving Inquiry As Per Order Of Special Judge (PC Act) By GST Dept. Delhi High Court Quashes Order
The Delhi High Court has quashed the special judge's directions for conducting a roving inquiry by the GST department in the absence of any statutory provisions.The bench of Justice Vibhu Bakhru and Justice Amit Mahajan has observed that apart from the directions issued in terms of the order dated April 5, 2023, there were no reasons for the respondent to initiate the search against...
Delhi High Court Directs GST Dept. To Pay GST ITC To IOCL
The Delhi High Court has allowed the refund of accumulated Input Tax Credit (ITC) due to the inverted duty structure to Indian Oil Corporation Limited (IOCL).The bench of Justice Vibhu Bakhru and Justice Amit Mahajan has observed that the rate of tax chargeable on inputs other than LPG, which are higher than the rate of GST chargeable on bottled LPG. The ITC has accumulated on account of the...
Tea Stored In Warehouse Is An Agricultural Produce, Not Exigible To Service Tax: Bombay High Court
The Bombay High Court has issued a writ of certiorari against the Appellate Authority of Advance Ruling (AAAR) and held that “tea” stored in warehouses is agricultural produce and is not eligible for service tax.The bench of Justice G. S. Kulkarni and Justice Jitendra Jain has observed that a writ of certiorari can be issued only when there is a failure of justice and that it cannot be...
Patna High Court Grants Relief to Cooperative Society, Rules Solid Waste Management Activity Exempt from BGST
In a recent legal development, the Patna High Court has ruled in favor of a Cooperative Society registered under the Bihar Goods and Services Tax Act, 2017 (BGST Act), stating that the Solid Waste Management Activity undertaken by the petitioner is exempt from BGST. The court quashed assessment orders and demand notices against the Cooperative Society, emphasizing that there is no supply of...
