Tax
E-Commerce Operators Liable To Collect TCS For Providing Platform For Selling Digital Gold: AAR
The Karnataka Authority of Advance Ruling (AAR) has ruled that e-commerce operators are liable to collect TCS for providing a platform for selling digital gold.The bench of Dr. M.P. Ravi Prasad and Kiran Reddy T. has observed that the applicant supplies the services of e-commerce platforms through the app, for which they get the consideration equivalent to a certain percentage on the value of...
Pick And Choose Method Of Rejecting Certain Entries From Books Of Account Is Arbitrary: Delhi High Court
The Delhi High Court has held that any pick-and-choose method of rejecting certain entries from the books of account while accepting others without an appropriate justification is arbitrary and may lead to an incomplete, unreasonable, and erroneous computation of the income of an assessee.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that the ITAT has...
Revisional Jurisdiction Can't Be Invoked For Inadequacy Of Enquiry By AO: Delhi High Court
The Delhi High Court has held that the inadequacy of the inquiry by the AO with respect to certain claims would not in itself be a reason to invoke the powers enshrined in Section 263 of the Income Tax Act. The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that the claims were duly examined during the original assessment proceedings themselves, and...
Filing Return By Due Date U/s 139 Is Mandatory For Political Party To Claim Exemption U/s 13A: Delhi ITAT Refuses To Stay Recovery Against Congress Party
While holding the argument that an assessee is entitled to a stay on the recovery proceedings on payment of 20% of the demand during the pendency of appeal before the Tribunal, as too general, the New Delhi ITAT dismisses the stay application of Indian National Congress treating it as meritless. At the same time, on the merits of the matter, the ITAT ruled that compliance...
Balloons Used For Decorations Outside The Purview Of Requirement To Satisfy BIS Registration, CESTAT Set Aside Confiscation Order
The Chennai bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has quashed the order passed by the original authority confiscating the goods and directing their re-export.The bench of Sulekha Beevi C.S. (Judicial Member) and Vasa Seshagiri Rao (Technical Member) has observed that the balloons used for decorations are outside the purview of the requirement to satisfy...
Leasehold Interest In Land Is Asset Of Company, Capable Of Valuation: Jammu & Kashmir And Ladakh High Court
The Jammu & Kashmir and Ladakh High Court has held that leasehold interest in the land is an asset of the company and is capable of valuation. As such, it is to be included in the value of the assets of M/s. Jyoti Private Limited so as to determine the fair market value of shares held by the assessee as well as other shareholders.The bench of Justice Tashi Rabstan and Justice Puneet...
Actual Agricultural Operation, Not a Necessary Condition To Qualify As Agricultural Land; Bombay High Court
The Bombay High Court has held that actual carrying on of agricultural operations is not a necessary condition for deciding that the parcels of land were agricultural lands.The bench of Justice K. R. Shriram and Justice Dr. Neela Gokhale has quashed the order and remanded the matter for passing the fresh assessment order. The AO will only examine whether the evidence brought on record...
TDS Not Liable To Be Deducted On Business Support Services As Not Taxable As FTS: Bombay High Court
The Bombay High Court has held that business support services are not taxable as a fee for technical services (FTS), and no TDS is liable to be deducted.The bench of Justice K. R. Shriram and Justice Neela Gokhale has observed that even if it is fees for technical or consultancy services, it can be only where fees are paid in consideration for making available technical knowledge,...
Writ Jurisdiction Discretionary, To Be Exercised For Petitioners Acting In Good Faith, With Clean Hands: Allahabad High Court
While dealing with a petition against cancellation of GST registration, the Allahabad High Court held that writ jurisdiction under Article 226 of the Constitution of India can only be exercised for a petitioner who has approached the Court in good faith and with clean hands. The Court held that once there is concealment of facts, writ petition is liable to be dismissed without any relief to...
No Difficulties In Generating E-Way Bill After April 2018: Allahabad High Court Upholds Penalty U/S 129 GST For Late Production Of E-Way Bill
The Allahabad High Court has held that when the Goods and Services Tax Regime was launched in 2017, there were difficulties in downloading e-way bills. However, the difficulties were resolved and from April 2018 there were no difficulties in generating the same.While upholding the penalty order under Section 129 of the Goods and Services Tax Act, 2017 for production of e-way bill...
GST | Truck Moving Slowly Due To Fault In Engine, Not Extending E-Way Bill Technical Breach: Allahabad HC Quashes Penalty U/S 129
The Allahabad High Court has held that when the GPS tracking system showed slow movement of the truck due to mechanical issues in the engine, penalty under Section 129 of the Goods and Service Tax Act, 2017 could not have been imposed for not extending time-period in e-way bill. The Court held that not extending time period in such case was a technical breach.At the time of interception...
S.5 Limitation Act Applies To Rectification Of Orders U/S 31 Of UP VAT Act: Allahabad High Court
The Allahabad High Court has held that Section 5 of the Limitation Act will apply to rectification of orders passed by officer, authority, Tribunal or the High Court under Section 31 of the Uttar Pradesh Value Added Tax Act, 2008.Section 31 of the Uttar Pradesh Value Added Tax Act, 2008 provides that any officer, authority, Tribunal or the High Court may rectify any mistake apparent on the...