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The show cause notice (SCN) asking for the GST on ocean freight on transportation of goods from outside India has been quashed by the Bombay High Court. On the Supreme Court decision in the case of Mohit Minerals and observed that the verdict applies to both free on board (FOB) and the sum of cost, […]
The matter of Hydro Pneumatic Accessories India Pvt. Ltd. vs Assistant Commissioner of State Tax, heard by the Bombay High Court, stated crucial aspects of procedural fairness and natural justice in administrative proceedings. The blog discusses a comprehensive analysis of the decision, analyzing the implications of the findings of the court on the rights of […]
Under section 119(2)(b) of the Income Tax Act, the Bombay High Court specifying the scope of authority stated that the legislature has granted power to the Principal Commissioner of Income Tax (respondent no.3) to condone the delay to enable the authorities to do substantive justice to the parties by disposing the case on merits. Therefore, […]
Is an employee of a company liable for forking the penalties concerned with the tax demands raised on the company by revenue authorities? Goods and Services Tax (GST) enforcement officials acknowledged the same at the time they punched a demand last September for a ₹3,731 crore penalty on a taxation manager and other employees of […]
The Bombay High Court, actual carrying on of agricultural operations is not a critical condition for determining that the parcels of land were agricultural lands. The order has been quashed by the bench of Justice K. R. Shriram and Justice Dr. Neela Gokhale and remanded the case for passing the fresh assessment order. The AO […]
As a fee for technical services (FTS) business support services are not liable for tax, and no TDS is accountable to be deducted, The Bombay High Court ruled. The bench of Justice K. R. Shriram and Justice Neela Gokhale noted that even if it is fees for technical or consultancy services, it can be just […]
The Bombay High Court discussed a petition for the rectification of Form GSTR-1 for the fiscal year 2017-2018. The applicant, NRB Bearings Ltd., sought revisions to correct clerical errors and enable the claiming of the input tax credit (ITC) amounting to Rs. 64,36,188. Detailed Analysis in the Case of NRB Bearings Ltd NRB Bearings Ltd. […]
The respondent (assessee) is required to have deducted tax under Section 194I of the Income Tax Act, 1961, from the storage charges paid by the taxpayer, The Bombay High Court ruled. The bench of Justice K. R. Shriram and Justice Sharmila U. Deshmukh noted that the storage tanks in question are not eligible either as […]
The assessment reopening was based on a revision of the view of the AO (Assessing Officer) from that ruled before at the time of assessment proceedings. The revision of the view does not comprise the justification to assume that the income levied to tax has escaped from assessment, the Bombay High Court ruled. The bench […]
