Income Tax Law Updates
Notification/Circular:
CBDT Notification No. 103/2022/F. No. 300196/18/2017-ITA-I (PT.-1) dated 24-08-2022
In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the Andhra Pradesh Pollution Control Board (PAN AAAJA1610Q), a Board constituted by the State Government of Andhra Pradesh under the Water (Prevention and Control of Pollution) Act, 1974 (6 of 1974), in respect of the following specified income arising to that Board.
Case Laws/Judgement:
Hon’ble Delhi High Court held that the petitioner cannot be asked to wait endlessly for the respondents to challenge the order dated 23rd July, 2019. Consequently, the present writ petition is disposed of with a direction to the respondents to refund the amount as directed by the Commissioner (Appeals) vide order dated 23rd July, 2019 within four weeks. During this period, it shall be open to the respondents to file appropriate proceedings in accordance with law. All rights and contentions of the parties including objection, if any, to the maintainability of such proceedings are left open.
Arihant Patni Vs DCIT (ITAT Pune) Date of Order 22/07/2022
Hon’ble ITAT held that earning under “PMS” should be assessable under the head “capital gains”. Accordingly, we do not find any illegality in the order of the ld. CIT(A).
DCIT Vs Analytical Technologies Ltd. (ITAT Ahmedabad) Date of Order 27/07/2022
Hon’ble ITAT held that the assessee clearly established that the loan availed by the Director Sivaprasad Patnam is transferred to the assessee company because of its company is urgent need of cash/finance. The same were being availed by way of loan from various banks and directly credited into the account of the assessee company and necessary journal entries have been made in the book of the assessee company. Thus, there is no violation of Section 269SS of the Act. Therefore no question of levying penalty u/s. 271D of the Act relating to the journal entry amounting to Rs. 1,20,54,566/-.
ITO Vs D. D. & Company (ITAT Delhi) Date of Order 02/08/2022
Hon’ble ITAT held that the assessee is not the licensee to do the liquor business directly, the assessee has set up his staff who is eligible for the liquor license under reserve quota. But the entire business has been run by the assessee by using his staff Mr. Harish who is a dummy bidder. Since the said model of business itself is in violation of licenses issued by the Excise Department, the license fee paid by the assessee who is not the license holder cannot be treated as eligible expenses. In view of the above discussion, we are of the opinion that, the grounds of appeal of the Revenue deserves to be allowed.
Goods and Services Tax Law Updates:
Case Laws/Judgement:
In re Avani infosoft Private Limited (GST AAR Karnataka) Date of Order 12/08/2022
The Ld AAR has pronounced the ruling that the services being provided by the applicant in the service contract between the applicant and M/s Isha Outreach are covered under “agricultural extension services” and hence are exempted in terms of entry no.57 of Notification No. 9/2017-Integrated Tax (Rate) dated 28.06.2017.
Indian Security and Personnel Arrangements [KARNATAKA-AAR] Order Dated 12-08-2022
The Ld AAR has pronounced the ruling that the services proposed to be provided by the Applicant to the Department of Horticulture for cleaning and sweeping of lawns and garden path areas and segregation and transport of the garbage are liable for GST at NIL rate as per Entry No. 3 of Notification No.12 of 2017 (Central Tax Rate), dated: 28.06.2017.
Updates from Other Laws:
Notification/Case Laws/Judgement:
Hon’ble High Court held that the legal position emanating from the above precedents is that, pension is no longer a bounty to be paid at the whims and fancies of the employer. On the other hand, pension is deferred salary, akin to property under Article 300A. The right to pension, if not a fundamental right, is definitely a constitutional right. A retired employee cannot be deprived of this right, save by authority of law.
Weekly Newsletter Income Tax, GST and Other Law [4th Week, August 2022] GST Updates, Income Tax Updates, Tax India Updates
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