Settlement Commission immunity applies only to Income Tax and does not bar PMLA proceedings. Issue Immunity Scope: Whether immunity granted by the Settlement Commission under Section 245H of the Income-tax Act, 1961 extends to afford protection from proceedings under the Prevention of Money-laundering Act, 2002 (PMLA). Requirement of FIR: Whether an FIR or formal complaint… Read More »
Composite show-cause notice and consequential orders covering multiple financial years under Section 73 are invalid. Composite show-cause notice and consequential orders covering multiple financial years under Section 73 are invalid. Issue Whether the Revenue can issue a single consolidated Show-Cause Notice (SCN) and pass a composite assessment order covering multiple financial years under Section 73… Read More »
Input tax credit cannot be denied under Section 16(4) when returns fall within extended cut-off. Issue Whether the claim of Input Tax Credit (ITC) for the period April 2018 to March 2019 can be rejected as time-barred under Section 16(4) of the CGST Act when the underlying returns were filed within the extended cut-off period… Read More »
Input Tax Credit Claimed in March 2020 Return Filed Before Cut-Off Is Valid Under Section 16(5) Issue Whether an Input Tax Credit (ITC) claim for March 2020 can be denied as time-barred under Section 16(4) when the return was furnished on 17.11.2020, in light of the relaxed timeline under Section 16(5) of the CGST/KGST Act.… Read More »
Deduction of Embedded KVAT and Addition of 18% GST for Works Completed Post-GST Is Valid Deduction of Embedded KVAT and Addition of 18% GST for Works Completed Post-GST Is Valid Issue Whether deducting embedded KVAT/Service Tax from pre-GST quoted contract rates and adding 18% GST on the net figure for government contracts completed after 1… Read More »
Assessment Order Passed Within Extended Statutory Limit Is Valid as Draft Order and Hearing Procedures Were Complied With Assessment Order Passed Within Extended Statutory Limit Is Valid as Draft Order and Hearing Procedures Were Complied With Issue Whether the assessment order for AY 2020-21 passed on 28.09.2022 was time-barred, and whether the non-issuance of a… Read More »
Purchase of Property Jointly with Spouse Is Excluded From Benami Transactions, Validating Will Bequeathing Full Ownership. Purchase of Property Jointly with Spouse Is Excluded From Benami Transactions, Validating Will Bequeathing Full Ownership. Issue Whether property purchased jointly in the names of a father and mother under a sale deed qualifies as a benami transaction, and… Read More »
Kerala High Court Rules GST Returns Filed Before November 30 2021 Entitled To Input Tax Credit Kerala High Court Rules GST Returns Filed Before November 30 2021 Entitled To Input Tax Credit Issue Whether the tax authorities were justified in denying Input Tax Credit (ITC) under Section 16(4) of the CGST/KGST Act for the period… Read More »
TDS applies to interest on bank deposits made from MACT awards as it loses its exempt character. TDS applies to interest on bank deposits made from MACT awards as it loses its exempt character. Issue Whether the tax exemption on interest from Motor Accidents Claims Tribunal (MACT) compensation under Section 194A(3)(ix) and (ixa) extends to… Read More »
ITC Claim Filed for March 2020 on January 4, 2021 is Within Statutory Timelines Issue Whether the petitioner’s Input Tax Credit (ITC) claim for March 2020 can be legally denied under Section 73 on the grounds of late filing, when the corresponding GSTR-3B return was furnished on January 4, 2021. Facts The petitioner, a registered… Read More »