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Reaffirming the principle that transactions in securities fall outside the ambit of GST, the Gujarat Appellate Authority for Advance Ruling held that ITC on share buyback expenses is inadmissible and must be reversed under Section 17(3) of the CGST Act, 2017.
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The NHRC sought detailed reports from the Director Generals of Police of all three states within two weeks.
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The NHRC issued notice to the State DGP, calling for a detailed report on the matter within two weeks.
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A notice under Section 148-A(b) of the Income Tax Act, 1961 was issued to the assessee, stating that income had escaped assessment under the provisions of Section 147, regarding sale, purchase of properties and contractual receipts.
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“It is the duty of the online platform, which is offering such services, to ensure that correct product is delivered by the seller who is having business to business contract with them”.
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The NHRC issued notices to the Chief Secretary and the Director General of Police, Government of Rajasthan, calling for a detailed report on the matter within two weeks.
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“Consideration out of surrender of tenancy right on account of immovable property cannot be considered as service as per definition under Section 65-B(44) of the Finance Act, 1994 and no service tax is payable.”
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“The alleged conduct of concerted practice by NSE and BSE of prescribing standard agreement flows from the regulatory architecture and therefore, does not attract the provision of Section 3(3) of the Competition Act, 2002.”
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In a preliminary inquiry, it was prima facie observed that Drishti IAS had allegedly published the claim/advertisement and simultaneously advertised various types of courses provided by them on its official website while concealing important information. Therefore DG (Investigation) was requested to look into the matter.
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The appellant was not registered with Gujarat Pollution Control Board for processing goods like Lead Acid Batteries and so they were clearing these goods to their buyers who had license from Pollution Control Board to process old/used Lead Acid Batteries for extraction of lead scrap.
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The power envisaged under Section 34(4)(b) of the IBC is a power to recommend the replacement of the particular Resolution Professional on facts specific to that individual and is not a general power that could be exercised by the IBBI for issuing the Circular.
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With respect to noticee’s liability as a partner, the noticee submitted that she resigned within short span of time and did not receive any remuneration or profit from the firm. Further, she was not a part of decisions or involved in day-to-day affairs of the firm.
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“Mere entries in income tax returns or Form 26AS cannot, by themselves, establish liability under the Finance Act, 1994, unless corroborated by evidence demonstrating rendition of taxable service.”
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Registration under Section 22 of the CGST Act is linked to the place from where taxable supplies originate and not the mere existence of a warehousing unit in another State. The AAR clarified that storage in an FTWZ does not create an additional liability to register.
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Non-renewal of the Informant’s license for space on the airside of Rajiv Gandhi International Airport does not have the potential to limit and restrict the provision of Line Maintenance Services, so as to cause prejudice to the consumers and hence, is not in contravention of Section 4(2)(b) of the Competition Act, 2002.
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A settlement of dispute is clearly not an agreement to tolerate any act or situation. It is beyond the scope of Section 66-E(e) of the Finance Act, 1994 and thus not a ‘declared service’.
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“Despite the contentions raised by the Appellant, Appellant entered into settlement with the Operational Creditor to discharge his dues, which has been filed by an Affidavit by the Appellant as well as Respondent.”
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“Non-admission of the claim of the Appellant in liquidation proceeding shall not preclude it from taking such steps as available in law for realisation of its claim which arose after liquidation commencement date.”
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The assessee deposited 50% minor daughter’s share in the nationalized bank. Further, the assessee accounted his 50% share and offered the same as capital gain with the deduction of claim under Section 54 of the Income Tax Act, 1961.
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In the present case, notice under Section 148 of Income Tax Act, 1861 is not served on legal heir of the assessee. The said notice is served on the assessee, even after the knowledge that the assessee is deceased.
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