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    Case LawsIncome Tax
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    Case LawsIncome Tax
    Tax Credit Entitlement - Credit of TDS if deductor failed to deposit the TDS to the Government
    Show AI Summary
    TDS credit entitlement affirmed: deductee entitled to credit despite deductor's non-deposit, preventing indirect recovery.
    Credit for tax deducted at source on interest payments is to be treated as tax paid on the deductee's behalf and does not depend on the deductor's remittance; statutory protections against indirect recovery prevent the revenue from seeking the same tax from the deductee when the deductor fails to deposit the deducted amount, and the deposit requirement in the applicable provisions does not negate the deductee's entitlement to such credit.
    Case LawsIncome Tax
    A Landmark Judgment on Tax Credit Entitlement - Credit of TDS if deductor failed to deposit the TDS ...
    Show AI Summary
    Tax credit for TDS: deductee entitled to credit even if deductor failed to deposit the retained tax with government.
    The Court treats amounts retained by a deductor as remaining tax and concludes the statutory credit mechanism for tax deducted at source does not condition a deductee's entitlement on the deductor having deposited the retained amount with the government, thereby barring indirect recovery or adjustment against the deductee where tax has been deducted at source.
    Case LawsGST
    A Case of Coerced Input Tax Credit Reversal - GST recovery during search and seizure proceedings.
    Show AI Summary
    Coercive tax collection prohibited; forced reversal of input tax credit during search deemed impermissible, with investigatory remedies preserved.
    Dispute involved a search under Section 67 and an alleged coerced reversal of Input Tax Credit from the petitioner's Electronic Credit Ledger for supplies from a supplier with retrospectively cancelled registration; the court found such coercive recovery during search impermissible and directed restoration of the ITC while preserving the department's power to investigate and, if ineligible or fraudulent ITC is found, pass appropriate protective orders.
    Case LawsGST
    Manner of compliance of conditions of pre-deposit - Debit of amount from electronic credit ledger (E...
    Show AI Summary
    Pre-deposit payment method: Electronic credit ledger debit does not satisfy pre-deposit; cash ledger payment required for appeals.
    Pre-deposit for appeals under the CGST/BGST regime must be paid from the cash ledger; debit from the electronic credit ledger does not satisfy the statutory pre-deposit requirement. A revenue circular restricting ECRL use to certain output tax payments and excluding reverse charge, interest, penalties, fees, and similar amounts supports that ECRL cannot be used for pre-deposit. The court emphasized the statutory payment scheme and strict appeal filing timelines, rejecting arguments that ECRL debit could substitute for cash ledger payment.
    Case LawsGST
    The need for clarity and concrete reasons in the cancellation of GST registrations.
    Show AI Summary
    Requirement of clear reasons in GST cancellation: retrospective deregistration must be reasoned and consider input tax credit effects.
    Cancellation of GST registration must be supported by clear reasons and concrete factual findings in show cause notices and cancellation orders; labels that a registration is "liable to be cancelled" without specifying dues or factual basis constitute mechanical action. Retrospective cancellation cannot be applied routinely; authorities must follow statutory procedure, assess causes for non-filing, consider exceptional disruptions to business operations, and account for the impact on input tax credit before fixing an effective date of cancellation.
    Case LawsIncome Tax
    Validity of reopening of assessment - need for a direct link between the portal's information and th...
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    Use of portal data: digital information needs a direct evidential link before reopening income tax assessments.
    Reopening assessments requires a direct evidential link between portal-derived information and the income alleged to have escaped assessment; portal data alone is insufficient without documentary support for transactions or gifts, and a show cause notice must provide adequate particulars and reflect proper consideration of the taxpayer's response before reassessment proceeds.
    Case LawsBenami Property
    Application of provisions of section 5 of the Benami Transactions (Prohibition) Amendment Act, 2016 ...
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    Non retrospective application of punitive benami provisions affirmed, limiting enforcement to post amendment transactions.
    Application of Section 5 of the Benami Transactions (Prohibition) Amendment Act, 2016 concerns whether punitive provisions enacted in 2016 apply to transactions predating the amendment. The Appellate Tribunal relied on Supreme Court precedent that such punitive provisions must be applied prospectively, and the High Court emphasized adherence to that interpretation while allowing parties to pursue further remedies pending the Supreme Court review.
    Case LawsCustoms
    Provisional release of imported goods (apples) - The dispute centers on the valuation of the import...
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    Provisional release of perishable imports allowed pending valuation, subject to provisional assessment and bond to protect revenue interests.
    The dispute concerns provisional release of perishable imported apples amid a valuation contest tied to a stayed minimum import price notification. The instrument requires provisional assessment of the Bill of Entry within a brief timeframe and permits conditional provisional release upon the importer furnishing a bond and meeting terms set by customs, thereby reconciling the protection of revenue interests with the practical need to avoid loss to perishable consignments pending final resolution of the notification's applicability.
    Case LawsBenami Property
    Applicability of the Benami Transactions (Prohibition) Amendment Act, 2016
    Show AI Summary
    Prospective application of punitive benami amendment upheld, limiting reach to post-enactment transactions and preserving pre-enactment protections.
    The Madras High Court affirmed that the enhanced punitive provision introduced by the Benami Transactions (Prohibition) Amendment Act, 2016 is substantive and applies prospectively; it endorsed the Tribunal's reliance on the Supreme Court's Ganapati Dealcom decision, treated a pending Supreme Court review petition as not displacing that precedent, and disposed of the appeals while allowing further proceedings consistent with prospectivity and prior constitutional findings.
    Case LawsIncome Tax
    Disallowance of expenses - need for tax authorities to have a practical understanding of the nature ...
    Show AI Summary
    Disallowance of expenses must rest on specific documentation defects, not on blanket percentage adjustments.
    Disallowance of business expenses on a summary or estimate basis requires specific, pointed deficiencies and cannot rest on generalized conclusions about excessiveness; in businesses with routine small transactions, tax authorities must examine the nature of operations and identify particular defects in documentation before applying blanket percentage disallowances.
    Case LawsIncome Tax
    Disallowance of the assessee's business expenditure claims related to the purchase of sugarcane from...
    Show AI Summary
    Statutory Minimum Price interpretation: excess cane payments treated as appropriation of profits, not deductible business expense.
    The core issue is whether payments for sugarcane in excess of the Statutory Minimum Price (SMP) are deductible business expenditures or constitute an appropriation of profits. The Assessing Officer relied on standard accounting practice requiring provisions for liabilities at year end and treated post closing excess payments as distributions of operational surplus. The appellate view upheld that cooperative status does not alter the tax analysis and that payments beyond the SMP do not qualify as allowable business expenses absent proper provisioning within the accounting period.
    Case LawsIncome Tax
    Additions made u/s 69 and Section 56 in the absence of direct incriminating evidence linking the ass...
    Show AI Summary
    Direct incriminating evidence requirement: third party search materials alone cannot sustain unexplained investment additions.
    Additions alleged as unexplained investments and undisclosed interest income based on third party search materials require a demonstrable direct nexus between those seized records and the assessee; absent such direct incriminating evidence, reliance on third party statements or documents is insufficient. Procedural safeguards and transactional indicia-such as cross examination opportunities, banking records, documentary support, and TDS-reduce the probative value of seized material when direct linkage is lacking.
    Case LawsCustoms
    Whether penalty is to be imposed when the appellant has accepted the classification and paid the ent...
    Show AI Summary
    Penalty under Section 114A: no justification where importer accepted correct classification and paid differential duty before notice.
    Issue: imposition of a penalty for alleged suppression when the importer accepted correct tariff classification and paid the differential duty with interest before issuance of a show cause notice. The importer attributed the earlier misclassification to an agent error and denied intent to evade duty. The authority observed the accurate product description, admission of correct classification and prompt payment, concluded absence of suppression of facts and determined that the statutory penalty provision was not justified on these facts.
    Case LawsCustoms
    Liability for payment of customs duty on sale of excess liquor from the duty-free shop
    Show AI Summary
    Liability under Section 72: duty rests with duty-free shop licence-holder when trade facility conditions are breached.
    Duty arises where a duty-free shop licence-holder breaches voucher and recordkeeping conditions under the trade facility; the licence-holder bears responsibility for payment of duty and interest when procedural requirements are violated, while penalty depends on culpability and may be disallowed where no intent to evade duty is established and customs were aware of the transactions.
    Case LawsCustoms
    Demand of customs duty beyond normal period of limitation on the ground of change in classification ...
    Show AI Summary
    Extended limitation in customs demands inapplicable where no suppression, limiting reassessment for CVD on undeclared MRP entries.
    Reassessment and CVD demand arose from a post-clearance change in classification and retrospective reliance on MRP for past entries; the tribunal held that items described were essential refrigeration parts rather than accessories, that MRP-based reassessment requires clear factual basis, and that the Extended Period of Limitation is inapplicable where no suppression is established, although penalty issues may still be considered where omissions occur.
    Case LawsCorporate Laws
    Stringent approach towards ensuring compliance with auditing standards - importance of auditors' res...
    Show AI Summary
    Auditor responsibility reinforced: regulatory findings against audit failures stress strict adherence to auditing standards and sanctions.
    NFRA found a statutory auditor guilty of professional misconduct for failures to comply with Standards on Auditing, including inadequate procedures to verify revenue, lack of physical inventory verification, insufficient going concern assessment, deficient materiality application, and inadequate communication with Those Charged with Governance, and applied regulatory sanctions to reinforce auditor responsibilities in preserving financial reporting integrity.
    Case LawsIBC
    Whether the appellant's claim can be classified as a Financial Debt or Operational Debt under the In...
    Show AI Summary
    Operational debt classification confirmed for supplier's claim based on the transaction's nature under the insolvency framework.
    Whether a claim from a supply arrangement is a Financial Debt or an Operational Debt depends on the transaction's substantive character. The tribunal examined contractual terms-penalties for non-delivery, interest, and security cheques-and applied precedents on the financial-versus-operational distinction. It characterised the supplier's claim, filed under Section 9, as arising from the supply of goods and therefore as an operational debt, sustaining the Resolution Professional's and Adjudicating Authority's classification.
    Case LawsIBC
    Scope of Approval of resolution plan - Allegations of undervaluation of the Corporate Debtor's asset...
    Show AI Summary
    Commercial wisdom of committee of creditors governs resolution plan approval, limiting valuation and standing challenges by promoters.
    Exclusion of the creditor was non irregular as no claim was filed; undervaluation allegations were rejected since opportunities to raise them during the CIRP were not used; the resolution plan satisfied Committee approval requirements and reflected the Committee's commercial wisdom; and a suspended director/promoter lacked standing to challenge the approved plan, underscoring limited judicial interference post approval.
    Case LawsGST
    Denial of Input Tax Credit since the GST registration of the Supplier of Goods has been Cancelled wi...
    Show AI Summary
    Input tax credit denial over supplier deregistration; remanded for document verification and fresh adjudication to determine genuineness.
    Denial of Input Tax Credit was challenged where the supplier's registration was retrospectively cancelled; the petitioner paid through bank and the supplier appeared on records at the time. The High Court remanded the matter for fresh adjudication, directing the appellate authority to reconsider the petitioner's documentary evidence, hold a hearing, and pass a reasoned order verifying genuineness and timing of transactions; if purchases are genuine and occurred prior to cancellation, ITC is to be considered per precedent.
    Act RulesGST
    Input Tax Credit (ITC) is a vested right or concession - Can government impose conditions or restric...
    Show AI Summary
    Input Tax Credit as legislative concession: entitlement subject to statutory conditions, but retrospective deprivation of vested accruals is vulnerable.
    Input Tax Credit (ITC) is a legislative concession, not a vested right, so the legislature may lawfully prescribe eligibility conditions and procedural limits which taxpayers must strictly satisfy; however, retrospective amendments that destroy or diminish an already accrued entitlement are susceptible to challenge and have been treated as impermissible when they impair rights that vested before the amendment.

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      Income Tax

      Manner of disposal of application for advance ruling under Income Tax Act, 1961

      13 June, 2023

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      Notification No. 38/2023 - Dated: 12-6-2023 - Manner of disposal of application for advance ruling - In case difference of opinion between the members, decision will be taken by Majority with the help of Third Member - e-advance rulings (Amendment) Scheme, 2023

      Section 245R 

      - The Ministry of Finance has issued a notification regarding amendments to the e-advance rulings Scheme, 2022.
      - The Scheme is now called the e-advance rulings (Amendment) Scheme, 2023.
      - The amendments come into effect from the date of publication in the Official Gazette.
      - In paragraph 6 of the e-advance rulings Scheme, 2022, clause (iv) is replaced with new clauses.
      - The Board for Advance Rulings will consider the response and provide an opportunity of being heard to the applicant through video conferencing or video telephony.
      - The advance ruling on the specified question will be pronounced and sent to the applicant and the relevant authority.
      - If the Members of a Board for Advance Rulings have differing opinions on any point, it will be referred to the Principal Chief Commissioner of Income-tax (International Taxation).
      - The Principal Chief Commissioner will nominate one Member from another Board for Advance Rulings, and the majority opinion will prevail in deciding the point or points of disagreement.

       

      Full Text:

      Notification No. 38/2023 - Dated: 12-6-2023 - Manner of disposal of application for advance ruling - In case difference of opinion between the members, decision will be taken by Majority with the help of Third Member - e-advance rulings (Amendment) Scheme, 2023

      Section 245R 

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      ActsIncome Tax
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