Daily Archive: Sunday, July 9, 2017

Chit fund business not cash or fund management for service tax levy purpose – Supreme Court

Author: | Categories: High Courts, Judgments, Service Tax No comments
Chit fund business not cash or fund management for service tax levy purpose. Chit fund not covered u/s 12 of Section 65 of Finance Act 1994-Supreme Court ABCAUS Case Law Citation: ABCAUS 1289 (2017) (07) SC The Question framed for determination: Question No.1 – Whether chit fund activity can

 

Penalty u/s 221(1)-Interest component has to be excluded while levying Penalty. “tax in arrears” not include interest -Bombay HC

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Penalty u/s 221(1)-Interest component has to be excluded while levying Penalty. The term “tax in arrears” does not include interest component-Bombay HC ABCAUS Case Law Citation: ABCAUS 1288 (2017) (07) HC The Question framed by the Appellant Revenue: (1) Whether on facts and in the circumstances of the case and in   law,   the   ITAT   is

 

Penalty us 271(1)(c) invoking discretionary jurisdiction us 40A(2)(b) invalid – Allahabad High Court

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Penalty us 271(1)(c) invoking discretionary jurisdiction us 40A(2)(b) invalid. Income assessed on the basis of deeming provisions would not amount to non-disclosure-Allahabad High Court ABCAUS Case Law Citation: ABCAUS 1287 (2017) (07) HC The Issue: The only point of the litigation was regarding the levy of penalty under Section 271(1)(c)