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2021-TIOL-NEWS-127| June 01, 2021
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INCOME TAX

2021-TIOL-1239-HC-DEL-IT

Sds Infracon Pvt Ltd Vs National E-Assessment Centre Delhi

In writ, the assessee seeks to withdraw the present petition in favor of filing application for waiver of pre-deposit. Hence the Court permits the same.

- Writ petition disposed of: DELHI HIGH COURT

2021-TIOL-1238-HC-DEL-IT

Alpha Corp Development Pvt Ltd Vs ITO

In writ, the High Court observes that the Revenue seeks to drop the proceedings against the assessee on account of the notice being issued in the name of a non-existent entity. Hence the Court directs that the present petition be dropped as well.

- Writ petition disposed of: DELHI HIGH COURT

2021-TIOL-1237-HC-MAD-IT

Repatriates Cooperative Finance and Development Bank Ltd Vs TRO

In writ, the High Court finds that the writ petition is infructuous, considering that no auction proceedings have been conducted. Hence the petition is disposed of.

- Writ petition disposed of: MADRAS HIGH COURT

2021-TIOL-1236-HC-MAD-IT

P Hemalatha Vs ITO

Whether re-assessment notice merits being sustained where the assessee's objections to such proceedings are not considered by the AO or disposed off through a reasoned order - NO: HC

- Assessee's writ petition allowed: MADRAS HIGH COURT

2021-TIOL-1235-HC-MAD-IT

Omkara Assets Reconstruction Pvt Ltd Vs ACIT

In writ, the High Court finds that the assessee has option of filing appeal against the assessment order. Hence it finds no grounds to interfere in the matter. Nonetheless, it directs that the assessee's appeal pending before the CIT(A) be disposed off in an expeditious manner.

- Writ petition dismissed: MADRAS HIGH COURT

2021-TIOL-879-ITAT-AHM

Panchkuva Cloth Merchant Association Vs CIT

Whether rule 17A envisages the existence of a trust deed or its registration - NO : ITAT

Whether when trust is not created under an instrument, rule 17(A)(a) requires production of evidential documents - YES : ITAT

- Case remanded: AHMEDABAD ITAT

2021-TIOL-878-ITAT-AHM

Kaushikbhai P Patel Vs Pr.CIT

Whether action u/s 263 can be taken only when twin conditions of the order being erroneous and prejudicial to interest of Revenue are satisfied – YES: ITAT.

- Assessee's ppeal allowed: AHMEDABAD ITAT

2021-TIOL-877-ITAT-AHM

DCIT Vs Ganesh Plantation Ltd

Whether prior to amendment, sec. 153C could be invoked when AO of searched person formed no satisfaction that seized documents belonged to person other than searched person – NO: ITAT.

Whether at stage of invoking jurisdiction u/s 147 it is not required to test whether material would conclusively prove escapement of income – YES: ITAT.

Whether for purposes of sec. 68, when Revenue fails to justify allegation with evidence, onus does not shift upon assessee – YES: ITAT.

- Appeals dismissed: AHMEDABAD ITAT

2021-TIOL-876-ITAT-BANG

Jaya Prakash Vs ITO

Whether sale consideration of property cannot be determined only on the basis of Form 26AS - YES : ITAT

- Assessee's appeal partly allowed: BANGALORE ITAT

 
INDIRECT TAX

2021-TIOL-302-CESTAT-CHD

Super Threading India Pvt Ltd Vs CCE & ST

CX - The appellant is in appeal against the impugned order wherein interest is demanded on account of delayed payment of duty on supplementary invoice during the period 2009-10 for the period 2008-09 to 2010-11 and penalty was also imposed - It is a fact on record that the appellant did not pay interest for the intervening period when they issued supplementary invoices for duty paid thereon - Thereafter an audit took place and asked the appellant to make payment of interest for the intervening period, but the appellant did not comply with the said direction - Thereafter, the Revenue was sleeping for more than 3 years and on the morning of 3rd September 2015, a SCN was issued to demand interest for the intervening period by invoking extended period of limitation - As it was in the knowledge of Revenue that the appellant has not paid the interest very well in January-February 2012 despite direction, no SCN was issued to the appellant within one year from the said period - Thus, the SCN issued on 03.09.2015 is barred by limitation - Further, the issue whether for the intervening period, the appellant is required to pay interest has been referred by Apex Court to larger bench itself in the case of Steel Authority of India Ltd 2015-TIOL-292-SC-CX which shows that there were divergent views of Apex Court on the issue and the said issue has been finally settled by Apex Court in 2019-TIOL-204-SC-CX-LB - Therefore, the demand of interest is not sustainable - Consequently, no penalty can be imposed on the appellant: CESTAT

- Appeal allowed: CHANDIGARH CESTAT

2021-TIOL-301-CESTAT-CHD

Teleperformance Global Services Pvt Ltd Vs CCE & ST

ST - The assessee filed the refund claim under Rule 5 of Cenvat Credit Rules, 2004 - Lower authority allowed the refund claim but did not consider the claim of interest raised by appellant - The Apex Court in the case of Ranbaxy Laboratories Limited 2011-TIOL-105-SC-CX has cleared that if assessee filed the refund claim and the same is to be sanctioned within three months from the date of filing of the refund claim and the same is not sanctioned, then the Revenue has to pay the interest thereon till its realization after three months from the date of filing of the refund claim although there may be litigation in the matter - Admittedly, assessee have filed the refund claims during the period 2006-09 and 2009-10 respectively and the same have not sanctioned within three months from the date of filing of refund claim - Thus, the assessee is entitled to claim interest on delayed refunds after three months from the date of filing of the refund claim till its realization: CESTAT

- Appeals allowed: CHANDIGARH CESTAT

 

 

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NEWS FLASH

Govt issues fresh notification granting IGST exemption to COVID-related imports donated to State agencies for free distribution till Aug 31, 2021 + Amphotericin B also exempted till Aug 31

CBIC revises tariff value of edible oils, gold & silver

Indian variant named Delta; WHO adopts naming method for COVID-19 new variants

COVID-19 - India's caseload down to 1.27 lakh with 2800 deaths in 24 hours + World loses 7700 people to Coronavirus in 24 hours + China reports surge in fresh cases in Guangzhou

States seek free vaccines from PM as coffers dangerously nosedive

Third Wave - SC asks Centre for study materials indicating impact on children and village population

 
NOTIFICATION

Ad hoc Exemption Order No. 05/2021

Seeks to amend Ad hoc Exemption Order No. 4/2021-Customs dated the 3rd May, 2021, to extend the exemption from IGST on imports of specified COVID-19 relief material donated from abroad, up to 31st August, 2021.

ctariff21_031

Seeks to amend notification No. 28/2021-Customs to exempt customs duty on import of Amphotericin B, and also to extend the exemptions under the said notification up to 31st August, 2021.

ctariff21_032

Seeks to exempt IGST on imports of specified COVID-19 relief material subject to specified conditions, up to 31st August, 2021.

cnt49_2021

CBIC revises tariff value of edible oils, gold & silver

cnt50_2021

Seeks to exempt IGST on imports of specified COVID-19 relief material subject to specified conditions, up to 31st August, 2021.

 
TOP NEWS

Global GDP - OECD hikes growth projection to 5.8% from 4.4%

12 horticulture clusters to be established across 11 States

Tax revenue collection 105% of RE 2020-21: Govt

Core industries production soars 56.1% in April

Govt simplifies family pension rules in view of COVID-19

 
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