Income Tax
- Deductions Upheld for Printing and Bookbinding: The High Court affirmed the taxpayer’s claim for a deduction under Section 80-IC, recognizing printing and binding of books as eligible activities.
- Taxpayer Responses to Notices Must Be Considered: The High Court directed the Assessing Officer to reevaluate a case after finding that the taxpayer’s response to a Section 148 notice had been disregarded.
- Orders Limited to Issues in Notices: The High Court quashed a Section 148A(d) order that introduced a new issue not previously included in the show cause notice to the taxpayer.
- Statutory Appeals Must Be Exhausted: The High Court dismissed a writ petition as the taxpayer had the option to file a statutory appeal against the assessment order.
- Revision Not Warranted When Enquiries Are Adequate: The ITAT held that a Section 263 revision was not justified when the Assessing Officer had conducted sufficient enquiries before allowing a Section 54B exemption.
- Eight-Minute Hearings Not Inherently Unfair: The High Court found that a personal hearing lasting eight minutes did not automatically violate principles of natural justice.
GST
- No Exemption for University Affiliation Services: The High Court ruled that services related to granting or renewing college affiliations by universities do not qualify for GST exemptions.
Miscellaneous
- Trust Registration for CSR Activities: The ITAT remanded a case where trust registration was denied solely because the trust was created to carry out CSR activities.
- Personal Hearings Required Before Demand Orders: The High Court remanded a case due to the lack of a personal hearing before the issuance of a demand order.
- Solar Plant Eligibility for Input Tax Credit: The AAR deemed a solar plant affixed to a building roof, but not embedded in the earth, as plant and machinery eligible for input tax credit.
- Hearing Notices Must Include Details: The High Court found that the absence of hearing details (date, time, and venue) in a notice violated statutory mandates.
Regulatory Updates
- RBI Revises Eligibility Criteria for Urban Cooperative Banks: The RBI aligned eligibility criteria for urban cooperative banks in the Second Schedule of the RBI Act with the Revised Regulatory Framework.
- Competition Commission of India on Pollution Dust Purchasers: The CCI concluded that the presence of two other purchasers of pollution dust for zinc extraction negated concerns of abuse of dominance.
For further details, please refer to the specific case laws and circulars.
Regards,
CA Aman Rajput
