News Update

VAT - Assessee cannot be relegated to invoke appellate remedy, where writ remedy is sought in contest of a non-speaking order which suffers from arbitrariness: HCExpenses incurred by the company for holding a dealers' conference or towards sales promotion, cannot be considered for determining assessee's liability towards Fringe Benefit Tax u/s 115WB(2)(c): HCCX - Revenue cannot refuse to accept surrender of assessee-company's registration certificate where no enforceable dues are recoverable from the assessee: HCMonsoon Session may wrap up today; CAG to table 29 reports in HouseAssessment u/s 153A can be resorted to only if any material incriminating the assessee is found during Search operation conducted u/s 132: ITATSales Tax - Tribunal upheld assessment order by considering a remand report only & without hearing the assessee - case remanded for passing fresh order: HCCertain laid cannot be said to be agricultural land unless there is some measure of cultivation thereon & if some labor is perfomed on the land towards cultivation: ITATST - Refund claimed by assessee is hit by unjust enrichment where burden of duty was passed on by assessee to the service recipient: CESTATUK goes for 6-month-lockdown against rising new casesFact of payment of consideration for purchase of property and handing over of such property cannot be questioned solely due to there being minor errors in the sale deed: ITATCus - Assessee cannot challenge its own self-assessment before the Commr.(A) u/s 128 of Customs Act, since self assessment does not qualify as regular assessment: CESTATIf machinery purchased is not used for expansion of existing business, then deduction can be allowed on interest paid on loan taken to acquire such machinery: ITATED attaches Dubai-based Midwest Hotel, 14 commercial and residential properties worth Rs 203 Cr of Iqbal Mirchi under PMLAGST - VKC Footsteps decision disagreed as Gujarat High Court failed to take into consideration scope, function and impact of proviso to Section 54(3): HCCCI gives nod to proposed combination of Midlife & API HoldingsGST - Parliament has used double negative in proviso to s.54(3) - Proviso performs larger function of limiting the entitlement of refund: HCGST - Inverted Duty Structure - Refund - This is clearly in nature of benefit or concession and cannot be equated with refund claim for excessive taxes that were paid inadvertently: HCGST - Un-amended Rule 89(5) exceeded scope of s.54(3)(ii) and extended benefit of refund to credit that accumulates both on account of rate of tax on 'inputs' and 'input services': HCNTPC invites EoI for setting up manufacturing facility within plant premisesGST - If words 'input services' are read into Rule 89(5) then it becomes ultra vires Section 54(3)(ii): HCCOVID-19 - PM to interact with CMs of 7 States reporting skyrocketing graph of new cases on WednesdayDeficits and fulfilling promises to States - A different view


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