News Update

CBDT notifies depreciation rates on WDV for motor cars and motor buses and taxis as block of assetsGovt appoints 28 Judicial and Technical Members of National Company Law TribunalMadras High Court CJ V K Tahilramani's resignation acceptedGST Council extends benefits to services sector in mega wayGST Council clarifies on taxability of certain goods; exemption also granted to manyGST Council extends last date for filing appeals against GST Appellate TribunalHM launches 'E-Beat Book' & 'E-Saathi' App to build SMART Police forceGST - Members of Indian Legal Service ineligible for consideration for appointment as Judicial Members in GSTAT; Section 110(1)(b)(iii) of CGST Act quashed: HCEC decides to hold Assembly Polls for Maharashtra & Haryana on Oct 21; Results on Oct 24GST - Composition of GSTAT to include two Technical Members, who possess little experience in law, against one Judicial Member would create reasonable apprehension of bias in minds of assessee; Sections 109(3) & 109(9) of CGST Act struck down: HCPreferential Certificate of Origin - Online platform goes live for registrationCBIC issues detailed guidelines for transfer of confiscated drones & UAVs to eligible Govt agenciesAccumulation of huge funds cannot form sole basis for denial of registration u/s 12A to a trust: HCCBDT modifies jurisdiction of 25 PCIT & CIT-rank officersFailure to prove source of cash deposits as well as genuineness of transactions merits addition as unexplained cash credit u/s 68: HCTrust carrying out both charitable as well as religious activity cannot be denied registration u/s 12AA by invoking Sec 11(1)(a): HCGST - Even God himself did not pass sentence upon Adam before he was called upon to make his defense - Natural justice is another name for common-sense justice: HCCST - In case of a conflict, the FTP provisions should prevail vis-à-vis the appendix in Handbook of Procedures, which are nothing but a subordinate legislation: HCCus - An element of mens rea, or any direct or indirect involvement attributable to the CHA through active knowledge or connivance is required to be proved in a proceeding for revocation of license: HCCST - Appendix or the Handbook of Procedures cannot override the FTP provisions: HCST - A person can be aggrieved or not aggrieved, there cannot be a concept of protective appeal: CESTATST - Refund claim rejected on ground that burden passed to recipient - however, in subsequent proceedings, in respect of same amounts, Commissioner(A) holding contrary and refund paid - Chief Commissioner to investigate: CESTATST - Exemption notification 20/2009-ST read with Corrigendum dated 30.08.2009 has been given retrospective effect from 01.04.2000 by Finance Act, 2011 - artificial distinction by Commissioner is contrary to express intention of s.75 of FA, 2011: CESTATIt is not neccesary for writ courts to delve into merits of matter, if statutory appeal remedy is not exhausted: HCIndia receives first of 36 Rafaela Jets from FranceGST - ITC to be restricted if outward supplies details not filed + New Return Format to be put in place from April 1, 2020 + Circular 105/2019 rescinded + Single Refund Authority to function from Sept 24 + Fake invoices - New provisions to be put in place to curb ITC utilisation by risky and new assesseesGST - Rate changes and clarifications to come into force from Oct 1, 2019 + Committee to be set up to simplify GSTR-9; GSTR-9A waiver grantedBook authors get option to pay GST on royalty on forward charge basis + Liquor licence to be treated as 'no supply' + Passengers development fee & user fee by airport operators to be taxedGST rate on job work in relation to diamond reduced to 1.5% + 12% rate for machine-based job work and 18% on job work for bus body buildingGST Council decides to reduct tax rate on hotel accommodation tariff - NIL rate for Rs 1000/- per day + 12% rate for between Rs 1001 to Rs 2000/- and 18% for above Rs 7500/- per day tariff + 5% rate on outdoor catering service without ITCTax on fish meal - Exemption granted from July 2017 to Sept 30, 2019GST Council's 37th meeting decides to reduce tax rates on items like marine fuel, cut & polished stones; IGST Exemption to certain imports by Defence & International Football tournamentJewellery exports - Diamond India gets IGST exemption for import of raw materialsGST rates hiked from 5% to 12% on goods falling under Chapter 86 to neutralise accumulated ITC + Caffeinated Beverages from 12% to 28%GST - Aerated drinks exempted from composition scheme but to attract 18% rate + Solar items to attract 5% tax rate + Almond milk to attract 18% rate
INCOME-TAX CONSULTANCY SERVICES


TIOL announces launching of "Income-tax Advisory Services" as a new vertical under its existing set up. This will be an online as well as offline services to be offered by experts having more than three decades of experience in tax administration.

With the implementation of policy of eliminating the contact between tax payers / representatives like advocate / CA / CS/ ITP and the tax authorities / Assessing officers, the queries of tax authorities have to be replied to ONLY by email. The written submissions would be the basis for acceptance or rejection of claims / contentions of the tax payers.

In this scenario submissions of the assessee have to be comprehensive covering factual aspects as well as legal contentions on the issues raised in the Notice.

Income Tax & Litigation go hand in hand! Litigation begins with the issuance of NOTICE prior to assessment proceedings. If the Reply to the Notice is deficient or lack in any aspect, additions to a tax payer's income or disallowance would become inevitable. This brings the Journey of Litigation to the Second Stage before the Commissioner of Income Tax (Appeal). From here it goes to the Tribunal, followed by the High Court and the Supreme Court of India.

In case of International Taxation or Transfer Pricing case, the journey remains the same except one or two stopovers such as the issue being referred to the TPO or the DRP before the Tribunal comes into the picture.

Income Tax & Litigation go hand in hand! And Litigation begins with the issuance of NOTICE prior to assessment proceedings. If the Reply to the Notice falls short of the Assessing Officers (AOs), additions are made to a taxpayer's income or disallowance beomes inevitable. This brings the Journey of Litigation to the Second Stage before the Commissioner of Income Tax (Appeal). From here it goes to the Tribunal, followed by the High Court and the Supreme Court of India.

WHAT OUR EXPERTS INTEND TO DO?

TIOL has joined hands with several former Revenue officials who have experiences spanning over close to FOUR decades, and gathered in various capacities, including the making of Union Budgets. Based on their hands-on and unique departmental experiences our Experts intend to help Taxpayers or their Counsels / Consultants / CAs etc in the following areas under I-T Act, 1961, Benami Act, Black Money Act & FEMA / PMLA:

A) Drafting Reply to Notices for Scrutiny Assessments, hearing of appeal or reply to show cause notices under different laws mentioned above;

B) Vetting of Reply drafted by the querist;

C) Determination of tax implications on any proposed corporate transactions or business deals or corporate restructuring or M&A or Demerger etc

D) Preparation of Appeal Papers for CIT(A) or DRP or Tribunal

E) Vetting of Appeal Memos prepared by the queries;

F) Settlement Commission - Petition related matters;

F) Any another Advisory support under different tax statutes as may be needed.

WHAT OUR EXPERTS DO NOT INTEND TO DO

No appearance before the Department Officers, CIT(A) and Tribunal. However, representations by practicing advocates / CA may be made available, if required, to be engaged directly by the querist.

WHO ARE OUR EXPERTS?

1) Mr Rajnish Kumar, Former Principal Chief Commissioner of Income Tax

2) Mr Anand Kishore, Former Chief Commissioner of Income Tax & Former Member of PMLA Tribunal

3) Mr N L Kalra, Former Member, Income Tax Appellate Tribunal

4) Mr Satbir Singh, Former Chief Commissioner of Income Tax

5) Mr Vijay Bahadur Singh, Advocate, Bombay High Court. He specialises in PMLA cases.

Besides these senior officers, we also have some former CCITs and Professionals like Advocate and CAs in our Team to assist you.

CONSULTATION FEE

This is to be decided after discussion with the querist or his/her representative on a case to case basis.

FOR FURTHER GUIDANCE

Please contact:

1) Richa Nigam: 9873983092

2) Shikha Choudhary: 7838594748

OR, drop us a mail at tiolllp@tiol.in