[aaykarbhavan] Re: Pre-Print Highlights of GSTR from CLI, ITR Tribunal
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ITR'S TRIBUNAL TAX REPORTS (ITR (Trib)) HIGHLIGHTS
APPELLATE TRIBUNAL ORDERS |
F Where land situated within 8 k.m. from local limits of Hyderabad Municipal Corporation which was notified, cannot be treated as agricultural land : Syed Nawab Hussain v. Asst. CIT (Hyd.) p. 180
F Capital gains : No material to show recipients had titleover sale of ancestral property, assessee not entitled to deduction of payments : Syed Nawab Hussain v. Asst. CIT (Hyd.) p. 180
F Plant and machinery given on lease and sold on expiry of lease term to lessee, amount written off in books of account, allowable as business loss : IGFT Ltd. v. ITO (Mumbai) p. 192
F Expenses for companies promoted by assessee and in liquidation incurred in normal course of business, allowable as business loss : IGFT Ltd. v. ITO (Mumbai) p. 192
F Where funds not immediately required for purpose of business and placed fixed deposits with bank, interest income is "income from other sources" : ITO v. Information Technology Park Ltd. (Bangalore) p. 218
F Transfer pricing : Ratio of cash profit to operating cost as correct profit level indicator under TNMM justified : Dy. CIT v. Reuters India P. Ltd. (Mumbai) p. 231
F ALP : Where companies having turnover several times higher than assessee to be excluded from comparables : Patni Telecom Solutions P. Ltd. v. Asst. CIT (Hyd) p. 235
F Expenses incurred on diesel, miscellaneous and meeting not meant to benefit third parties, principle of mutuality applies : Tiruchirapalli District Bus Operators Association v. Dy. CIT (Chennai) p. 242
F Shipping company : Where major portion of income under tonnage tax scheme, expenditure allowable u/s. 14A : Raj Shipping Agencies Ltd. v. Addl. CIT (Mumbai) p. 249
F Expenditure on upgrading computer hardware and software is revenue in nature : Dy. CIT v. Mcleod Russel India Ltd. (Kolkata) p. 262
F Interest on income-tax refund not operational income from banking activity assessable as income from other sources, not eligible for deduction under section 80P(2)(a)(i) : Kollam District Co-operative Bank Ltd. v. Dy. CIT (Cochin) p. 281
F Where no Industrial Park Scheme in operation on date of application by assessee, assessee not entitled to deduction under section 80-IA(4)(iii) : SSPDL Ltd. v. Dy. CIT (Hyd) p. 290
F Income accruing to assessee out of relinquishment of rights chargeable as capital gains : SSPDL Ltd. v. Dy. CIT (Hyd) p. 290
F Whether comparable can be considered on basis of existence of export turnover to be decided on facts : Missionpharma Logistics (India) P. Ltd. v. Asst. CIT (Ahd.) p. 310
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Phone: (044) 24350752 - 55
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From: "info@cliofindia.com" <info@cliofindia.com>
To: newsletter@cli.in
Sent: Thursday, 6 June 13 5:12 AM
Subject: Pre-Print Highlights of GSTR from CLI
| | www.cliofindia.com info@cliofindia.com
GOODS AND SERVICE TAX REPORTS (GSTR) HIGHLIGHTS
F Where delay of four years in claiming refund had occurred and assessee continuing to deposit duty at higher rate and that burden of duty not passed on to consumers not to be presumed, denial of refund not be interfered with : Sanjay Medical Store (Chemicals Division) v. State of Gujarat . . .463
F Assessee entitled to provisional release of confiscated goods subject to furnishing of bank guarantee for differential duty and declaration that assessee will not challenge or dispute identity and value of goods at later stage : Kundan Rice Mills Ltd. v. Union of India . . 478
F If duty paid under provisional assessment is less than that determined in final assessment, interest would be payable from date on which duty was actually liable to be paid : Commissioner of Central Excise v. J. K. Industries Ltd. . . . 482
F Where assessee paying substantial amount of duty due before passing of original order and balance amount due paid within time period stipulated in original order and reversed Cenvat credit wrongly availed of on being pointed out by Department, penalty and interest cannot be levied : Commissioner of Central Excise and Service tax v. Bharat Electronics Ltd. . . . 488
F Invocation of extended period of limitation proper where proof of wilful misstatement and suppression of facts with intention to evade duty was available : Super Polyplast P. Ltd. v. Commissioner of Central Excise . . . 492
F Priority of Government debts does not override secured debt contracted by parties in relation to commercial activities : Department cannot claim priority of Government dues unless statutory provision recognises it : Industrial Development Bank of India Ltd. v. Deputy Commissioner (Arrears Recovery Cell), Central Excise and Customs . . 499
F Interpretation of taxing statutes : Different statutes from same legislative source to be harmoniously construed to avoid conflict : Industrial Development Bank of India Ltd. v. Deputy Commissioner (Arrears Recovery Cell), Central Excise and Customs . . . 499
F Where demand of duty confirmed under original order stood discharged and fact of claiming depreciation on capital goods was suppressed with no intention to evade duty, penalty not attracted : Commissioner of Central Excise v. CEAT Ltd. . . . 524
F Where confiscated smuggled gold was of lesser purity and could not be of foreign origin not substantiated nor supported by statutory provisions or ruling of court, Tribunal's order in favour of assessee perfunctory and casual and to be set aside : Commissioner of Customs v. Kishori Prasad Safaf . . . 527
F Where vessel carrying goods setting sail one day before order directing confiscation and goods not available for confiscation, redemption fine in lieu of confiscation cannot be imposed : Inox India Ltd. v. Commissioner of Customs (Export) . . . 449
F Customs house agent's responsibility continues until goods loaded on vessel : Customs house agent liable to penalty for failure to obtain let export order : Inox India Ltd. v. Commissioner of Customs (Export) . . . 449
F For violation of statutory provisions, mens rea not required : Inox India Ltd. v. Commissioner of Customs (Export) . . . 449
F Where revision of assessment was accepted and differential duty paid, initiation of further proceedings unwarranted and invalid : J. K. Laxmi Cement Ltd. v. Commissioner of Customs . . . 458
STATUTES AND NOTIFICATIONS |
F Rules :
Central Excise (Appeals) (Amendment) Rules, 2013 . . . 129
Customs (Appeals) (Amendment) Rules, 2013 . . . 118
Service Tax (Second Amendment) Rules, 2013 . . . 138
COMPANY LAW INSTITUTE OF INDIA PVT. LTD.
No. 2, Vaithyaram Street,
T.Nagar, Chennai - 600017.
Phone: (044) 24350752 - 55
Fax: (044) 24322015
info@cliofindia.com
| To Unsubscribe : Reply back with "Unsubscribe" in subject followed by the key word "ITR" or "CC" or "VST" or "CCD" or "GSTR" or "ITR (Trib)", respectively or "All" if you do not want any Email. ITR : Income Tax Reports, CC : Company Cases, VST : VAT and Service Tax Cases, CCD : Consolidated Commercial Digest, GSTR : Goods and Service Tax Reports, ITR (Trib) : ITR'S Tribunal Tax Reports. Also send your feedback or comments to info@cliofindia.com |
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