Tax
Allahabad High Court Quarterly Tax Digest: January to March 2024
INDEX M/S Mgs Palace v. State Of U.P. And 4 Others 2024 LiveLaw (AB) 4 M/S. Hindustan Herbal Cosmetics vs. State Of U.P. And 2 Others 2024 LiveLaw (AB) 9 M/S Eastern Machine Bricks And Tiles Industries vs. State Of U.P. And Others 2024 LiveLaw (AB) 14 Akbar Ali Transport Services vs. State of U.P. and Another 2024 LiveLaw (AB) 25 M/S Roli Enterprises vs. State Of U.P. And...
Indirect Tax Cases Quarterly Digest : 2024
Supreme Court Customs Act | Importer's Subsequent Import Bill Be Discarded If Undervalued To Previously Imported Identical Or Similar Goods: Supreme Court Case Title: M/s Global Technologies and Research versus Principal Commissioner of Customs, New Delhi (Import) Citation : 2024 LiveLaw (SC) 239 Recently, the Supreme Court held that under the Customs Act, the...
CESTAT Cases Quarterly Digest 2024
Information From ITR/26AS Can't Be Sole Basis For Service Tax Demands: CESTAT Case Title: M/s GopiChenna Versus Commissioner of Central Tax Medchal - GST The Hyderabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the service tax demand was made on the basis of third-party data, i.e., amounts reflected in income tax returns and in Form 26AS,...
CESTAT Allows Refund Of Service Tax Paid On Cancelled Bookings Of Flats
The Mumbai Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has allowed the refund of service tax paid on cancelled bookings of flats.The bench of P.K. Choudhary (Judicial Member) has observed that, as per Rule 66E(b)(sic) of the Service Tax Rules, 1994, in construction services, service tax is required to be paid on the amount received from buyers towards booking of...
Land Used For Agricultural Purposes Yielding Agricultural Income Is Exempted From Income Tax: Kerala High Court
The Kerala High Court has held that the land in question was used for agricultural purposes, which yielded agricultural income, which in turn was exempt from income tax under Section 10(1) of the Income Tax Act.The bench of Justice A.K. Jayasankaran Nambiar and Justice Syam Kumar V.M. has observed that there is no material produced by the appellant that would clearly suggest that the loan...
Delhi High Court Interpretes Rule 11UA For Determination FMV Of Shares U/S 56(2)(viib)
The Delhi High Court has held that it has interpreted Rule 11UA of the Income Tax Rules, 1962, for determining the fair market value (FMV) of shares under Section 56(2)(viib) of the Income Tax Act, 1961.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that Section 56(2)(viib) postulates that the FMV of shares shall be the value determined in accordance...
Consideration Received By Trustees For Relinquishment Of Trusteeship Cannot Be Treated As Capital Receipt: Kerala High Court
The Kerala High Court has held that consideration received by trustees for such relinquishment of trusteeship cannot be treated as a capital receipt for the purposes of assessing it under the head of capital gains; the consideration will have to be treated as the individual income of the assessees and assessed accordingly under the appropriate head. The bench of Justice A.K. Jayasankaran...
Kerala High Court Stays GST Recovery Proceedings Against Bar Council Of Kerala
The Kerala High Court stayed the proceedings initiated by the Additional Commissioner, Central Board of Indirect Tax and Customs for recovery of service tax, penalty and interest from the Bar Council of Kerala.Justice Dinesh Kumar Singh ordered that no coercive steps shall be taken against the Bar Council of Kerala. “As an interim measure, it is provided that till the next date of posting,...
ITAT Cases Quarterly Digest 2024
S. 54F Exemption Not Available On Property Predominantly Being Used For Religious Purposes: ITAT Case Title: Asstt. CIT Versus Iqbal Ali Khan The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has held that exemption under Section 54F of the Income Tax Act is not available on property predominantly being used for religious purposes. ITAT Deletes Addition...
Allahabad High Court Monthly Tax Digest: March 2024
INDEX Gurdeep Singh vs. Nagar Ayukt Nagar Nigam Moti Jheel And Another 2024 LiveLaw (AB) 131 Qamar Ahmed Kazmi vs. State of U.P. 2024 LiveLaw (AB) 133 M/S Sanyo Koreatex Pvt. Ltd. vs. Deputy Commissioner Trade Tax And Another 2024 LiveLaw (AB) 134 M/S Riadi Steels Llp vs. State Of U.P. And 4 Others 2024 LiveLaw (AB) 135 M/S Jhansi Enterprises Nandanpura Jhansi vs. State...
Assessees Not Expected To Keep Open Dept's E-Portal Of All The Time To Track Actions Of Dept.: Punjab & Haryana High Court
The Punjab and Haryana High Court has held that the assessee is not expected to keep the e-portal of the department open all the time so as to have knowledge of what the department is supposed to be doing.The bench of Justice Sanjeev Prakash Sharma and Justice Sudeepti Sharma has observed that before any action is taken, a communication of the notice must be in terms of the provisions...
Biuret Content Test In Imported Urea To Match Technical Trade Urea Specifications, Kerala High Court Directs Testing In Faridabad Laboratories
The Kerala High Court directed that the referral laboratory, namely the Central Fertilizer Quality Control Unit, Faridabad, shall ensure that the analysis of the urea sample is done expeditiously and that the report thereof reaches the Kochi Customs Authority within a month from the date of receipt of the sample at the said laboratory.The bench of Justice A.K. Jayasankaran Nambiar and...