Credit Available On Advance Tax Paid For Stock-Transferred: Kerala High Court
5 months, 3 weeks ago

Credit Available On Advance Tax Paid For Stock-Transferred: Kerala High Court

Live Law  

The Kerala High Court has held that the petitioner will be entitled to credit for the entire amount paid in terms of Circular No. 50/2006 and the definition of input tax in Section 2 of the KVAT Act indicates that the tax paid in terms of Circular No. In a notice issued to the petitioner under Section 25 of the KVAT Act, it was indicated that, in respect of the stock, which was transferred from Feroke to Pollachi, the petitioner would be entitled to credit in respect of the advance tax paid in terms of Circular No. Though the petitioner objected to the restriction of credit in the manner indicated above, by Ext.P3 order dated April 16, 2012, the assessment of the petitioner for the years 2009–2010 was completed by restricting the credit of advance tax paid in terms of the aforesaid Circular No. The petitioner challenged the order to the extent that it restricts the credit of advance tax paid under Circular No.

Tax Credit Kerala High Court Pollachi Advance Act Goods Paid Terms Petitioner Circular Section 13 Input Tax Circular No  goods  petitioner  court  tax  stocktransferred  high  terms  credit  circular  act  paid  502006  pollachi  advance  available  kerala

History of this topic

Grants For Daily Expenses Are Not Consideration For Services Rendered By Assessee, Not Liable To Tax: Kerala High Court
3 weeks, 6 days ago

Grants For Daily Expenses Are Not Consideration For Services Rendered By Assessee, Not Liable To Tax: Kerala High Court

Live Law  

The Kerala High Court stated that financial grants provided to the assessee for covering daily operational expenses do not qualify as payment for any services that the assessee might be providing and are not liable to tax. The Bench of Justice Gopinath P. observed that “The assessee has only received grants to meet its day-to-day expenses including salary, allowances etc. …

Grants For Daily Expenses Are Not Consideration For Services Rendered By Assessee, Not Liable To Tax: Kerala High Court
3 weeks, 6 days ago

Grants For Daily Expenses Are Not Consideration For Services Rendered By Assessee, Not Liable To Tax: Kerala High Court

Live Law  

The Kerala High Court stated that financial grants provided to the assessee for covering daily operational expenses do not qualify as payment for any services that the assessee might be providing and are not liable to tax. The Bench of Justice Gopinath P. observed that “The assessee has only received grants to meet its day-to-day expenses including salary, allowances etc. …

Income From Sale Of Immovable Properties To Be Treated As 'Capital Gains,' Not 'Business Income': Kerala High Court
1 month ago

Income From Sale Of Immovable Properties To Be Treated As 'Capital Gains,' Not 'Business Income': Kerala High Court

Live Law  

The Kerala High Court has stated that income from the sale of immovable properties is to be treated as 'capital gains,' not 'business income' for taxation purposes. Jayakumar observed that “the requirement of ensuring uniformity and consistency in tax assessments cannot be overlooked, especially while categorizing the nature of the activity carried on by an assessee to earn its income …

[Income Tax] Assessing Authority Can't Reassess Prior Years Without Inquiry While Determining Relevant Year's Assessment: Kerala High Court
1 month, 1 week ago

[Income Tax] Assessing Authority Can't Reassess Prior Years Without Inquiry While Determining Relevant Year's Assessment: Kerala High Court

Live Law  

The Kerala High Court stated that while determining the assessment of relevant years assessing authority cannot determine the assessment for earlier years without enquiry. observed that “…….we fail to understand how the assessing authority, as well as the First Appellate Authority, while considering assessment proceedings for the assessment years 2011-12 could have embarked upon an enquiry with regard to the …

Assessment Order Downloaded From Common Portal Amounts To A Valid Service: Kerala High Court
5 months, 1 week ago

Assessment Order Downloaded From Common Portal Amounts To A Valid Service: Kerala High Court

Live Law  

The Kerala High Court has held that the assessment order downloaded from the common portal amounts to a valid service.The bench of Justice A.K. The Kerala High Court has held that the assessment order downloaded from the common portal amounts to a valid service. The appellant contended that the assessment order was communicated to the appellant through the portal that …

Tax Effect In Appeals Below Monetary Limit Of Rs.1 Crore; Kerala High Court Dismisses ​​Dept's Appeal
5 months, 1 week ago

Tax Effect In Appeals Below Monetary Limit Of Rs.1 Crore; Kerala High Court Dismisses ​​Dept's Appeal

Live Law  

The Kerala High Court has held that the tax effect in the appeals filed by the income tax department pertaining to assessment years 2006–07, 2007–08, 2008–09, 2009–10, and 2010–11 is well below the monetary limit of Rs. 3 of 2018 issued by the Central Board of Direct Taxes, appeals cannot be maintained by the revenue before the High Court if …

Indirect Tax Cases Monthly Round Up: June 2024
5 months, 3 weeks ago

Indirect Tax Cases Monthly Round Up: June 2024

Live Law  

Bombay High Court Non-Communication Of SCN To Call Book Is Fatal; Bombay High Court Quashes SCNs Against ICICI Home Finance Citation: 2024 LiveLaw 305 Case Title: ICICI Home Finance Company Ltd. Slump Sale Doesn't Amount To Sale Of Goods Within MVAT Act: Bombay High Court Citation: 2024 LiveLaw 306 Case Title: Piramal Enterprises Limited Versus The State of Maharashtra The …

Statutory Scheme Determining Taxable Turnover Of Works Contract Under KVAT Act Doesn't Suffer From Any Defect: Kerala High Court
6 months ago

Statutory Scheme Determining Taxable Turnover Of Works Contract Under KVAT Act Doesn't Suffer From Any Defect: Kerala High Court

Live Law  

The Kerala High Court has held that the statutory scheme for determining the taxable turnover of a works contract under the Kerala Value Added Tax Act does not suffer from any defect so as to render it unworkable to effectuate the charge to tax on a works contract. The assessee contended that in the absence of a machinery provision in …

Time Limit To Avail ITC Is Till 30th November In Each Financial Year From Beginning Of GST Regime: Kerala High Court
6 months, 2 weeks ago

Time Limit To Avail ITC Is Till 30th November In Each Financial Year From Beginning Of GST Regime: Kerala High Court

Live Law  

The Kerala High Court has held that the time limit to avail ITC is November 30th in each financial year from the beginning of the GST regime.The bench of Justice Dinesh Kumar Singh has observed that prior to the amendment in Section 39 by the Finance Act 2022, the date for furnishing the return under Section 39 was September 30th. …

Direct Taxes Weekly Round-Up: 19 To 25 May 2024
6 months, 3 weeks ago

Direct Taxes Weekly Round-Up: 19 To 25 May 2024

Live Law  

Delhi High Court Case Title: PT Bukaka Teknik Utama Versus Commissioner Of Income Tax, Delhi - 2 The Delhi High Court has held that the assessee can't be obstructed from availing of the benefits of the Direct Tax Vivad se Vishwas Act, 2020 even where the time limit for an appeal has not expired. Case Title: New Delhi Television Limited …

Kerala High Court Quashes Assessment Order Issued Without Effective Hearing Due To Technical Issues With Link Provided For Video Conferencing
8 months, 1 week ago

Kerala High Court Quashes Assessment Order Issued Without Effective Hearing Due To Technical Issues With Link Provided For Video Conferencing

Live Law  

The Kerala High Court has quashed an assessment order passed under the Income Tax Act on finding that the assessee was not provided an effective hearing. Allowing the writ petition, Justice Dinesh Kumar Singh held that the impugned assessment order was issued contrary to the principles of natural justice since there was no effective hearing. The bench said: “Considering the …

Direct Tax Cases Weekly Round-Up: 31 March To 6 April 2024
8 months, 2 weeks ago

Direct Tax Cases Weekly Round-Up: 31 March To 6 April 2024

Live Law  

Delhi High Court Case Title: Valley Iron & Steel Co.Ltd Versus PCIT The Delhi High Court has held that income tax additions made towards unsubstantiated share capital are eligible for deduction under Section 80-IC of the Income Tax Act. Case Title: Senapati Santaji Ghorpade Sugar Factory Versus Assistant Commissioner of Income Tax The Bombay High Court has held that retrospective …

Procedure U/S 148A Need Not Be Complied With Before Issuing Reassessment Notices: Kerala High Court
9 months ago

Procedure U/S 148A Need Not Be Complied With Before Issuing Reassessment Notices: Kerala High Court

Live Law  

The Kerala High Court has held that the procedure contemplated by the provisions of Section 148A of the Income Tax Act, 1961, need not be complied with before issuing notices under Section 148 of the Income Tax Act, 1961.The bench of Justice Gopinath P. has observed that when an item or cash, as in this case, is produced before a …

Indirect Tax Cases Monthly Round Up: January 2024
10 months, 2 weeks ago

Indirect Tax Cases Monthly Round Up: January 2024

Live Law  

Supreme Court Hiring Of Motor Vehicle Or Cranes Is Not 'Sale Of Goods' If Control Over Equipment Is Retained By Contractor, VAT Can't Be Levied: Supreme Court Case Title: M/s. Case Title: Murli Packers Through Its Proprietor Rakesh Kumar Jain vs. State Of U P Through Secretary, Institutional Finance Case Citation: 2024 LiveLaw 52 On Wednesday, the Allahabad High Court …

Difficulties Faced On Initial Phase Of GST Implementation, Kerala High Court Sets Aside Disallowance Of ITC
1 year, 2 months ago

Difficulties Faced On Initial Phase Of GST Implementation, Kerala High Court Sets Aside Disallowance Of ITC

Live Law  

The Kerala High Court recently addressed the difficulties faced by small scale dealers during the initial phases of GST implementation in understanding the provisions of GST Act. Justice Dinesh Kumar Singh set aside the orders of the assessing authority disallowing the input tax credit claims of the petitioners and observed thus, “The period involved is 2017-18 when the GST regime …

Sales Tax Officer And Not District Collector Empowered To Permit Payment Of Sales Tax Dues In Instalments: Kerala High Court
1 year, 3 months ago

Sales Tax Officer And Not District Collector Empowered To Permit Payment Of Sales Tax Dues In Instalments: Kerala High Court

Live Law  

The Kerala High Court has made it clear that under the Kerala General Sales Tax Act 1963 and Rules, the assessing authority empowered to permit payment of sales tax dues in instalments is the Sales Tax Officer. Justice Dinesh Kumar Singh observed thus: “The Kerala General Sales Tax Acts and Rules empowers the assessing authority ie.,the Sales Tax Officer to …

KVAT Act | Dealer Claiming Input Tax Credit Must Prove Transaction Beyond Reasonable Doubt : Supreme Court
1 year, 9 months ago

KVAT Act | Dealer Claiming Input Tax Credit Must Prove Transaction Beyond Reasonable Doubt : Supreme Court

Live Law  

The Supreme Court has held that under Section 70 of the Karnataka Value Added Tax Act, 2003, a dealer claiming Input Tax Credit on purchase ought to prove and establish actual physical movement of goods and genuineness of transaction. The dealer claiming ITC has to prove beyond doubt the actual transaction which can be proved by furnishing the name and …

[Kerala Land Reforms Act] Mutation In Favour Of Third Party Has No Bearing On Proceedings Against Predecessor-In-Interest Over Excess Land: High Court
1 year, 9 months ago

[Kerala Land Reforms Act] Mutation In Favour Of Third Party Has No Bearing On Proceedings Against Predecessor-In-Interest Over Excess Land: High Court

Live Law  

The Kerala High Court recently directed the mutation of land covered by two sale deeds in favour of the person who purchased the land, notwithstanding the fact that the predecessor-in-interest was allegedly holding the land in excess of the ceiling limit under Kerala Land Reforms Act. The Single Judge Bench of Justice Gopinath P. observed, "Even in respect of cases …

Supreme Court Quarterly Digest on Tax [July - September, 2022]
2 years, 1 month ago

Supreme Court Quarterly Digest on Tax [July - September, 2022]

Live Law  

Arbitration and Conciliation Act, 1996 - Relief related to tax concessions are not arbitrable. Commissioner of Service Tax New Delhi v. Quick Heal Technologies Ltd, 2022 LiveLaw 660 Finance Act 1994; Section 65B - Definition of "service" - does not include activities listed as "deemed" sale under Article 366 of Constitution Commissioner of Service Tax New Delhi v. Quick Heal …

VAT Defaulter Not Liable To Pay Collection Charges If Opts Amnesty Scheme: Kerala High Court
2 years, 1 month ago

VAT Defaulter Not Liable To Pay Collection Charges If Opts Amnesty Scheme: Kerala High Court

Live Law  

The Kerala High Court has held that collection charges are not payable if a VAT defaulter opts for the Kerala Amnesty Scheme, 2017.The single bench of Gopinath P. has noted that the petitioner had settled the liabilities in terms of the provisions contained in the Amnesty Scheme of 2017, which was introduced by the provisions contained in the Kerala Finance …

No Legislative Competence To Amend KVAT Act After Introduction Of GST Act: Kerala High Court
2 years, 3 months ago

No Legislative Competence To Amend KVAT Act After Introduction Of GST Act: Kerala High Court

Live Law  

The Kerala High Court has held that legislative competence to amend the Kerala Value Added Tax Act after the introduction of the GST Act is impermissible. The issue raised was whether the amendment made by the Finance Act, 2018 to the KVAT Act by which a one-year extension was given for initiating assessment w.e.f from 01.04.2018 has legislative competence. Yet …

Kerala GST Dept. Invites Application From Traders To Avail Benefits Of Amnesty Scheme
2 years, 6 months ago

Kerala GST Dept. Invites Application From Traders To Avail Benefits Of Amnesty Scheme

Live Law  

The Kerala GST Department announced an amnesty scheme in 2022 to pay unpaid tax debts from before the implementation of GST. The policy would apply to outstanding amounts owed under different statutes, including the Kerala Value Added Tax Act, the Central Sales Tax Act, the Tax on Luxuries Act, the Kerala Surcharges Act, the Kerala Agriculture Income Tax Act, and …

Kerala High Court Directs GST Dept. To Facilitate Revision Of Form GST TRAN-1 By Making Necessary Arrangements On The Portal
2 years, 7 months ago

Kerala High Court Directs GST Dept. To Facilitate Revision Of Form GST TRAN-1 By Making Necessary Arrangements On The Portal

Live Law  

The Kerala High Court bench of Justice Bechu Kurian Thomas has directed the GST department to facilitate the revising of Form GST TRAN-1 and filing of Form GST TRAN-2 by making necessary arrangements on the web portal. After the introduction of GST, the petitioner submitted a declaration on form GST TRAN-1 declaring the details of the credit to be claimed …

Kerala High Court Quashes State Circular Restricting Fee Exemption On Converted Paddy Land
3 years, 1 month ago

Kerala High Court Quashes State Circular Restricting Fee Exemption On Converted Paddy Land

Live Law  

The Kerala High Court recently quashed a circular issued by the State government, limiting fee exemption on converted paddy land not included in the data bank only to applications filed after 25th February this year.A Division Bench of Chief Justice S. Manikumar and Justice Shaji P. Chaly also directed the concerned authority to consider the applications submitted by the petitioners. …

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