Judgements and Orders, Supreme Court and High courts of India

Rajasthan High Court quashes reassessment notice issued under Sec 148 of the Income Tax Act

mahendra gargieya 04 December 2021 at 09:11

The reassessment notice issued to the petitioners under Section 148 of the Income Tax Act is quashed. However, it is left open to the assessing authority to initiate re-assessment proceedings in accordance with the provisions of the Act, as amended

Posted in Income Tax | 639 Views

Section 292BB of the Income Tax Act cannot be given a retrospective effect

mahendra gargieya 03 December 2021 at 17:46

In that view of the matter, we do not find that the Tribunal has committed any error in setting aside the assessment. The counsel for the revenue however has strenuously argued that in view of Section 292BB inserted in the Income Tax Act, mere defect

Posted in Income Tax | 221 Views

Penalty demand and proposal of confiscation cannot be separated from Customs duty demand

Bimal Jain 03 December 2021 at 15:56

The Hon'ble Customs, Excise & Services Tax Appellate Tribunal, Bangalore ("CESTAT") in the matter of M/s. Dhiren Enterprise v. Commissioner of Customs (Adjudication), Mumbai [Final Order No. A/87107/2021 dated November 09, 2021], ruled that the propo

Posted in Excise | 251 Views

Where two reasonable constructions of a taxing provision are possible then the construction which favours the assessee must be adopted

Bimal Jain 03 December 2021 at 15:56

The Hon'ble Customs, Excise & Services Tax Appellate Tribunal, Bangalore ("CESTAT") in the matter of John's Cashew Company v. Commissioner of Customs, Cochin [Final Order 20792 /2021 dated October 18, 2021], allowed the refund of 4% of Special Additi

Posted in Excise | 189 Views

Karnataka AAR ruled that 5% GST applicable on packed and branded Pushti

Bimal Jain 02 December 2021 at 11:55

The Hon'ble Karnataka Authority for Advance Ruling ("the Karnataka AAR") in the matter of M/s. Devanahalli and Hosakote Taluks MSPC [Advance Ruling No. KAR ADRG 56/2021 dated October 29, 2021], ruled that Pushti is classified under HSN code 1106. If

Posted in GST | 239 Views

Hon'ble High Court directed GST Authority to refund GST paid under wrong head

Bimal Jain 02 December 2021 at 11:55

The Hon'ble Punjab and Haryana High Court ("Punjab and Haryana HC") in the matter of SBI Cards & Payment Services Limited v. Union of India and others [CWP-8108-2021 (O&M) dated October 08, 2021], directed the Authority to refund GST worth Rs. 108 cr

Posted in GST | 267 Views

Concessional GST rates not applicable to activity of manufacture and supply of fortified rice kernels till Sep 30, 2021

Bimal Jain 01 December 2021 at 11:24

In Rasi Nutri Foods [Order No. 39 AAR/2021 dated October 21, 2021] Authority for Advance Ruling, Karnataka ("KAAR") held that Notification 39/2017 Central Tax (Rate) dated October 18, 2017 ("Concessional Rate Notification") read with G.O.M's No. 140

Posted in GST | 288 Views

ITAT directed AO to delete the additions made on account of capitalization of royalty expenses as they were revenue in nature

Bimal Jain 01 December 2021 at 11:24

The Hon'ble Income Tax Appellate Tribunal, Delhi ("ITAT") in the matter of Honda Motorcycle and Scooter India Pvt. Ltd. v. ACIT, Circle: 4 (1) New Delhi [ITA. No. 477/Del/2021 dated November 09, 2021], directed the Assessing Officer ("AO") to delete

Posted in Income Tax | 158 Views

Is the fees of independent auditors appointed for reporting to CoC charged as CIRP cost?

Poojitha Raam Vinay 01 December 2021 at 10:34

This Order disposes of the Show Cause Notice (SCN) No. IBBI/IP/INSP/2020/45 dated 01.04.2021 issued to Mr. Pawan Kumar Garg, R/o – 25-A, J-Pocket, Sheikh Sarai-II, New Delhi-110017 who is a Professional Member of Indian Institute of Insolvency Profes

Posted in Audit | 354 Views