Tax
Cellular Mobile Service Providers Not Obliged To Deduct TDS On Income Received By Distributors: Calcutta High Court
The Calcutta High Court has held that the cellular mobile service providers are not obliged to deduct the tax at source (TDS) on income received by distributors/franchisees from customers.The bench of Justice Surya Prakash Kesarwani and Justice Rajarshi Bharadwaj has relied on the decision of Supreme Court in the case of Bharti Cellular Limited Vs. Assistant Commissioner of Income Tax...
Admission Fee Charged From Students Forms Part Of Corpus Donation: Gujarat High Court
The Gujarat High Court has held that the admission fee charged by the students forms part of the corpus donation of the trust.The bench of Justice Bhargav D. Karia and Justice Niral R. Mehta has observed that the donation is bound to have been given for material gain in securing admission; the same cannot be characterised as a donation towards a charitable purpose, and the appellant would not...
Income Tax Addition Can't Be Made On Cash Deposits During Demonetization Period: Delhi ITAT
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the department is precluded from making any addition under Section 68 of the Income Act in respect of the cash deposits made into bank accounts during the demonetization period.The bench of Challa Nagendra Prasad (Judicial Member) and Avdhesh Kumar Mishra (Accountant Member) has observed that there cannot be any addition...
Bombay High Court Quashes Customs Duty Reassessment Against Patanjali Foods On Crude Palm Oil Import
The Bombay High Court has quashed the customs duty reassessment against Patanjali Foods on the import of crude palm oil for home consumption.The Bench of Justice K. R. Shriram and Justice Jitendra Jain has observed that the rate in force would be the rate that was in force on the date and time of presentation, and in Patanjali's case, since self-assessed bills of entry were already...
CESTAT Weekly Round-Up: 30 June To 6 July, 2024
Hybrid/Pure Matrix Cards For PTN Equipment Classifiable Under CTI 8517 70 10: CESTAT Quashes Customs Duty Against Vodafone IdeaCase Title: Vodafone Idea Limited Versus Principal Commissioner of CustomsThe Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that Hybrid/Pure Matrix Cards for PTN Equipment would be classifiable under CTI 8517 70 10 as “parts...
Direct Tax Weekly Round-Up: 30 June To 6 July, 2024
Delhi High CourtServices Provided By IMG Utilized By BCCI Outside India, Income Not Liable To Be Taxed: Delhi High CourtCase Title: International Management Group (Uk) Limited Versus Commissioner Of Income Tax-2, International Taxation, New DelhiThe Delhi High Court has held that services provided by International Management Group (IMG) are utilized by the Board of Control for Cricket in...
Indirect Tax Weekly Round-Up: 30 June To 6 July, 2024
Bombay High CourtTransportation Of Machinery From JNPT To Factory Doesn't Constitute Supply, GST Not Payable: Bombay High CourtCitation: 2024 LiveLaw (Bom) 318Case Title: Fabricship Pvt. Ltd. Versus UOIThe Bombay High Court has held that transportation of machinery from Jawaharlal Nehru Port Authority (JNPT) to the factory of the assessee does not constitute supply, and hence GST is...
Kerala High Court Quashes Order Demanding Late Fee For Delay In Filing GSTR-9C
The Kerala High Court has quashed the order demanding a late fee for delay in filing GSTR-9C.The bench of Justice Murali Purushothaman relied on the decision of Kerala High Court in the case of Anishia Chandrakanth v. the Superintendent, Central Tax & Central Excise, in which it was held that in view of Notification No. 07/2023-Central Tax and Notification No. 25/2023, there appears to be...
AO Can't Review Its Own Order: Delhi High Court
The Delhi High Court has held that the Assessing Officer (AO) cannot review its own order.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed in the extract of the impugned corrigendum that no new material has been found by the department, which would warrant reopening the assessment. The corrigendum has been issued merely on the basis of a change of opinion,...
Transfer Of Depreciable Capital Assets Attracts Capital Gains Tax: Kerala High Court
The Kerala High Court has held that the transfer of the depreciable capital assets attracted capital gains tax under Section 45(4) of the Income Tax Act, in the absence of distribution of any capital asset among the partners following a dissolution of the appellant firm.The bench of Justice A.K. Jayasankaran Nambiar and Justice Syam Kumar V.M., while upholding the order of the tribunal that...
ITSC Empowered To Make Income Tax Addition: Delhi High Court
The Delhi High Court has held that the Income Tax Settlement Commission (ITSC) does not lack jurisdiction to make an addition, which has also been duly recorded in the terms of settlement.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that the objective of the settlement provisions is to strike a balance between the voluntary disclosure of income by...
Order Of ITSC Final And Conclusive For AY For Which Application Has Been Filed: Delhi High Court
The Delhi High Court has held that the order of the Income Tax Settlement Commission (ITSC) is final and conclusive for a particular assessment year (AY) for which the application has been filed.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that the order of the ITSC is deemed to be conclusive for all the matters pertaining to the concerned AY for...