2021-TIOL-NEWS-219 Part 2 Dated: Wednesday, September 15, 2021

2021-TIOL-NEWS-219 Part 2 | September 15, 2021

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INCOME TAX


	2021-TIOL-1502-ITAT-PUNE Kumar Agro Products Pvt Ltd Vs ITO Whether as per settled law, where there is a mixture of both borrowed funds as well as the interest free funds are available, a presumption has to be drawn that investments are made out of the interest free funds - YES: ITAT - Assessee's appeal allowed: PUNE ITAT 2021-TIOL-1501-ITAT-PUNE Arare Foundation Vs CIT Whether case can be remanded back to the CIT (E) for reconsideration as earlier satisfaction regarding objects and the activities performed or proposed to be performed is not arrived at by CIT (E) since requisite details/evidences were not filed by the assessee – YES : ITAT - Matter remanded: PUNE ITAT 2021-TIOL-1500-ITAT-AHM Nalini Anil Amin Vs DCIT Whether proceedings initiated u/s 147 is invalid as there is no escapement of income in the hands of the assessee on account of sale of the property - YES : ITAT - Assessee's appeal partly allowed: AHMEDABAD ITAT

GST CASE

2021-TIOL-1841-HC-DEL-GST

UPS Inverter Com Vs UoI

GST - The petitioner is the exporter of invertors, transformers and allied products - Between 01.07.2017 to 30.09.2007, they had made various exports falling under Tariff Item 8504 of Notfn 131/2016-Cus.(N.T.) , as amended by Notfn 41/2017-Cus.(N.T.) on the payment of Integrated Goods of Services Tax (IGST) - The Drawback Schedule prescribed identical rates of Duty Drawback under Column 'A' as well as Column 'B' for the said Tariff Order - Since there were no guidelines from GST or Customs department in respect of procedure to be followed in such cases, petitioner had claimed drawback under Column 'A' instead of under Column 'B' - By the Circular 37/2018-Customs , respondents have denied the refund of IGST on the ground that the exporters having filed the declarations voluntarily, they are deemed to have consciously relinquished their IGST/ITS claims - As the issue raised is otherwise settled by this court in TMA International Pvt. Ltd. & Ors. 2020-TIOL-04-HC-DEL-GST , the respondents are directed to carry out a verification exercise of claim made by petitioners within 12 weeks - In case the respondents find the claim of petitioners to be correct, the refund shall be processed by respondents without awaiting further orders from this Court in accordance with law: HC

- Matter listed: DELHI HIGH COURT

2021-TIOL-1840-HC-MAD-GST

Gautam Detective And Security Services Pvt Ltd Vs CGST & CE

GST - The petitioner sought for issuance of writ of Mandamus qua respondents to accept payments (belatedly) determined pursuant to a scheme which goes by the name SVLDR Scheme, 2019 - The petition pertains to service tax and alone reason projected in support of prayer is Corona Virus pandemic and consequent lock down which is collectively referred to as 'COVID-19 situation' which according to petitioner has impacted their business causing a slump in revenue of petitioner - Petitioner is now ready to make the payment, but the captioned petition has been filed without even sending a representation to the respondents and therefore, it is clearly premature - If petitioner sends a representation, it is open to respondents to consider the same on its own merits and in accordance with law: HC

- Writ Petition disposed of: MADRAS HIGH COURT

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