Hello Readers,
Greetings of the Day ! 🙏
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Today's Word of Wisdom -
स्वास्थ्य सबसे बड़ा उपहार है, संतोष सबसे बड़ा धन है, वफ़ादारी सबसे बड़ा सम्बन्ध है।
You were born with wings, why prefer to crawl through life?
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27 December 2017 Updates 📄📄📄
No Service Tax on Retention Fee charged by Hospitals: CESTAT Delhi [Read Order]
Read more at: http://www.taxscan.in/no-service-tax-retention-fee-charged-hospitals-cestat-delhi/15401/
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Booking of an Under-Construction Flat is a Case of Construction and not Purchase: ITAT Grants Capital Gain Exemption [Read Order]
Read more at: http://www.taxscan.in/booking-construction-flat-case-construction-not-purchase-itat-grants-capital-gain-exemption/15393/
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: Delhi HC delivers Split Verdict on Levy of Entertainment Tax on Sponsorship for Fashion Events [Read Judgment]
Read more at: http://www.taxscan.in/delhi-hc-delivers-split-verdict-levy-entertainment-tax-sponsorship-fashion-events/15388/
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Hoardings erected by Railways on its premises can’t be Taxed by the Municipal Corporation: Bombay HC [Read Judgment]
Read more at: http://www.taxscan.in/hoardings-erected-railways-premises-cant-taxed-municipal-corporation-bombay-hc/15383/
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Penalty can’t be Imposed merely on Ground that the Goods started journey one week after the date of the Invoice: Allahabad HC [Read Order]
Read more at: http://www.taxscan.in/penalty-cant-imposed-merely-ground-goods-started-journey-one-week-date-invoice-allahabad-hc/15375/
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Services of Uber is classifiable as ‘Transport Service’, says European Court
Read more at: http://www.taxscan.in/services-uber-classifiable-transport-service-says-european-court/15370/
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# *GST*: The Last Date for filing / revising ONCE of Form TRAN-01 to avail / revised Input Tax Credit by the existing taxpayer (Transition Credit) u/s 140 of the CGST Act is 27 DEC 2017.
# *NCLT* has issued an order that there shall be vacation at NCLT, New Delhi from 26.12.2017 to 5.01.2018. However, the registry at NCLT Bench, New Delhi shall remain open during this period.
# *IT*: Transfer of case u/s 127 – non-existence of agreement between two jurisdictional Commissioners - Apart from the failure to mention the same in the show cause notice, the only stand of the revenue is that there is an agreement by implication - the first respondent had no jurisdiction to pass the order of transfer. - Rentworks India Pvt. Ltd. Vs. Pr.CIT and Anr (2017 (12) TMI 1233 - Bombay High Court).
# *ST*: The foreign associated company involved in all aspects of the deputation of its own ‘suspended’ employee - service tax is rightly levied - INA Bearings India Pvt. Ltd. Vs CCE, Pune-I (2017 (12) TMI 1143 - CESTAT Mumbai).
# *ST*: Demand of service tax - once the department’s proposal of classification fails entire show cause notice is liable to be quashed. - CCE, Nagpur Vs Seven Hill Construction (2017 (12) TMI 1188 - CESTAT Mumbai).
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Case Study: Expenses incurred to earn Interest Income can be claimed u/s 57(iii) - Income Tax Officer Vs. M/s Borojalingh Tea Co. (ITAT Kolkata)
Case Study: AO cannot treat advances as gift merely on assumptions and presumptions - Shri Nilesh Janardan Thakur Vs. ITO (ITAT Mumbai)
GST: 27.12.2017 is the last date for filing Form TRAN-1 to avail Input Tax Credit and Tax payers, who have claimed transitional credit erroneously, may avail opportunity to revise Form TRAN-1 by 27.12.2017.
Delhi Income tax offices to remain open from 23.12.2017 to 31.12 2017 - The time barring assessment work of the Department for Financial Year 2017-2018 closes on 31.12.2017. In view of above, all the non working days/holidays from 23.12.2017 to 31.12 2017 will be treated as working days.
ICAI: Members are required to pay their annual membership fee by 30th September 2017. The names of members, whose annual membership fees are not received before the due date, are removed from the Register of Members, with effect from 1st October 2017. Check your status of membership Number by visiting the link https://www.icai.org/new_post.html?post_id=1812&c_id=92
Thanks for Reading