Showing posts with label CBEC. Show all posts
Showing posts with label CBEC. Show all posts

Wednesday, 4 May 2016

CBEC : Every Wednesday is Taxpayers day!

ICAI Indirect Tax Committee : CBEC vide Letter F. No. DGST/19/2015 dated 12.04.2016 to ICAI  has informed that every Wednesday would be taxpayers day wherein heads of all offices in the field will meet the taxpayers/ other stakeholders from 9 AM to 1 PM without any prior appointment in order to address their grievances relating to Central Excise, Service Tax, Customs etc. This step is undertaken by the government in order to live up to its idea of responsive governance and trade facilitation which would ensure ease of doing business for the taxpayers/ other stakeholders.
We request to make full use of this opportunity for one to one interaction with the CBEC officials and resolve your grievances real-time. This is indeed a welcome step by the government which lays its emphasis on taxpayer friendly tax-administration.

Sunday, 9 February 2014

Gist of Important latest tax caselaws

INCOME TAX ACT
SECTION 6
RESIDENTIAL STATUS
For the purpose of determining the residential status in India under Sec. 6, the term 'Going abroad for the purpose of employment' means going abroad to take up any employment or for any business carried outside India. It is not necessary to establish employer-employee relationship to prove travelling abroad; for employment it may be for other avocation including self-employment - K. Sambasiva Rao v. Income-tax Officer (2014) 42 taxmann.com 115 (Hyderabad - Trib.)














SECTION 12AA
CHARITABLE OR RELIGIOUS TRUST - REGISTRATION PROCEDURE
Conditions precedent : Where Memorandum of Association (MoA) of trust does not provide for allocation of functions and duties of office bearers, it can not be a ground to refuse registration because it is an internal regulation and does not in anyway affect objects of trust - Shriram Education Foundation v. Director of Income-tax (Exemption) (2014) 41 taxmann.com 117 (Delhi - Trib.)













SECTION 40(a)(ia)
BUSINESS DISALLOWANCE - INTEREST, ETC., PAID TO A RESIDENT WITHOUT DEDUCTION OF TAX AT SOURCE
Deposit of tax : Where assessee deducted tax at source while making payments to contractors and deposited same with Government before due date of filing return of income under section 139(1), no disallowance under section 40(a)(ia) could be made in respect of said payments - Income-tax Officer, v. Sun Enterprises (2014) 41 taxmann.com 431 (Gujarat)












SECTION 43B
BUSINESS DISALLOWANCE - CERTAIN DEDUCTIONS TO BE ALLOWED ONLY ON ACTUAL PAYMENT
ESI, PF contribution : Where assessee deposited employer's contribution of provident fund within extended grace period under PF Act, he will be eligible for deduction for same under section 43B - Commissioner of Income-tax v. Amoli Organics (P.) Ltd. (2014) 41 taxmann.com 149 (Gujarat)













SECTION 47
CAPITAL GAINS - TRANSACTIONS NOT REGARDED AS TRANSFER
Conversion of partnership firm into company : Where prior to conversion of partnership firm into company, land belonging to partnership firm was revalued as per market value and realization was credited to partners' current account maintained with partnership firm as per their profit sharing ratio and value of land was treated as loan in hands of company, such transaction would be subjected to capital gains tax - K.T.C. Automobiles (P.) Ltd. v. Deputy Commissioner of Income-tax (2014) 41 taxmann.com 160 (Cochin - Trib.)














SECTION 68
CASH CREDITS
Amount received prior to commencement of business : Statutory requirement for treating any amount as income of assessee under section 68 is where assessee fails to justify and establish genuineness of entry in its books of account and, therefore, question as to whether said amount is introduced prior to commencement of business of company or afterwards is of no significance - Commissioner of Income-tax (Central), Ludhianav.Sri Baba Rupadas Spinning Mills (P.) Ltd. (2014) 41 taxmann.com 143 (Punjab & Haryana)















SECTION 69C
UNEXPLAINED EXPENDITURE
Enquiry notice served to wrong address : Where assessee pointed out that notice for verification of a payment was issued to a wrong address, matter be remanded back - Mohmed Kurshid Alam Khan v. Additional Commissioner of Income-tax (2014) 41 taxmann.com 135 (Gujarat)

Cash payments : Addition should be made to assessee's income where assessee failed to show why payments were made in cash, whether they were actually received by parties and if so for what purpose - Mohmed Kurshid Alam Khan v. Additional Commissioner of Income-tax (2014) 41 taxmann.com 135 (Gujarat)



















SECTION 80-IB
DEDUCTIONS - PROFITS AND GAINS FROM INDUSTRIAL UNDERTAKINGS OTHER THAN INFRASTRUCTURE DEVELOPMENT UNDERTAKINGS
Housing project : To claim deduction under section 80-IB(10), open terrace area cannot form part of built up area - Commissioner of Income-tax, Chennai v. Mahalakshmi Housing (2014) 41 taxmann.com 146 (Madras)












SERVICE TAX
SECTION 65(25B)
COMMERCIAL OR INDUSTRIAL CONSTRUCTION SERVICES
Construction of road, by itself, is not liable to service tax under Commercial or Industrial Construction Services; liability may arise only where construction of road is a part of composite contract - Palimar Infracon (P.) Ltd. v. Commissioner of Central Excise, Mangalore (2014) 41 taxmann.com 369 (Bangalore - CESTAT)














SECTION 65(105)(zo)
AUTHORISED SERVICE STATION SERVICES
Position prior to 1-5-2011 : If bill/invoices issued clearly show payment of sales tax/VAT on spare parts used in motor vehicle servicing, then value of such spare parts would not be includable in gross consideration received for rendering of service - Jaika Motors Ltd.v.Commissioner of Central Excise & Service Tax (2014) 41 taxmann.com 254 (Mumbai - CESTAT)













CENVAT CREDIT RULES
RULE 6
CENVAT CREDIT - OBLIGATION OF A MANUFACTURER OR PRODUCER OF FINAL PRODUCTS AND A PROVIDER OF OUTPUT SERVICE
CBEC Circulars are binding upon revenue, except in case they are inconsistent with provisions of law or judgments of Appellate Tribunal, High Court or Supreme Court - Idea Cellular Ltd. v. Commissioner of Central Excise (2014) 41 taxmann.com 399 (Mumbai - CESTAT)




Source : Taxmann

Saturday, 8 February 2014

High Court Sees Red At High-Handed And Defiant Recovery Action Of AO

Tata Teleservices (Maharashtra) Ltd vs. Ministry of Finance (Bombay High Court)

Action to recover tax before expiry of statutory period for filing appeal is high-handed & in defiance of law


Though the assessee had a statutory period of three months to file an appeal along with stay application before the CESTAT, the Asst CST directed the assessee to pay the demand within two days and threatened to take coercive action to recover the dues. The assessee filed a Writ Petition contending that the AO’s action was in breach of Circular dated 01.01.2013 issued by CBEC, and the demand was premature because the assessee had the right to file an appeal within 3 months. HELD by the High Court allowing the Petition:

(i) The AO’s insistence that the assessee should pay the amount is contrary to the provisions of the Finance Act which provides for a period of 3 months to file an appeal to the Tribunal. It is also contrary to the circular dated 01.01.2013 issued by the CBEC. The impugned communications, to say the least, is high handed. The statute has advisedly provided a period of three months to an assessee to file an appeal before the appellate authority and also obtain a stay. This is with a view to enable the assessee to seek proper advice and considered opinion on the adjudication order before taking a decision and then challenging the adjudication order in appeal proceedings;

(ii) In case, the Revenue is allowed to adopt coercive measures and/or if the assessee is required to pay tax determined immediately, it would lead to injustice to an assessee, as his opportunity to obtain a stay from the appellate authority would stand foreclosed. Moreover, the inherent right of an appellate authority to stay the order being appealed against would be rendered futile. In fact, this Court in Mahindra & Mahindra Limited (1959-ELT-505) had directed the Revenue to return the amounts recovered by encashing the bank guarantee of the assessee as it was done before the expiry of three months to file an appeal;

(iii) The officers of the Revenue would do well to realize that their job is much more than merely collecting the tax. They are officers of the State, administering the Finance Act, 1994 and fairness in approach to the tax payers and acting in accordance with the Rule of Law is a sine-qua-non in discharge of all its functions;

(iv) The impugned communications are not only in defiance of the CBEC circular dated 01.01.2013 but also in breach of the statutory provisions which gives a period of 3 months to enable the aggrieved party to file an appeal before the appellate authority.

Note: The same view has been taken in the context of the Income-tax Act in UTI Mutual Fund 345 ITR 71 (Bom) and MHADA (Bom)