Maharashtra Goods and Service Tax , Act, 2017
S. 73; Demands and Recovery – Tax evasion- Reward for providing information related to tax evasions – Reward determined but not paid by the government –Reward scheme should be operated fairly and avoid frivolous objections – Government directed to pay the reward with interest in case of delay.- Circular GR No.STA-2004/CR-103 Taxation -2 dt -5-6 -2007 . [ S. 74 ]
Maharashtra Goods and Service Tax (MGST Act), 2017
S: 83: Provisional attachment to protect revenue in certain cases – Cash credit accounts – Not a property of the account holder – Cannot be attached provisionally u/s 83- Directed to withdraw the attachment within 24 hours . [S.83(1), Art. 226]
S. 268A : Appeal – Instructions -Circulars – Monetary limits -2 crores- Applicability of revised CBDT monetary limits (Circular No 3 of 2018 dt 11-7 2028 (2018) 405 ITR 29 ( St), Circular 9 of 2024 , dated 17 th September , 2024 (2024) 468 ITR 1 ( St))- Exceptions Apply Prospectively – Pending Appeals Covered by revised threshold – Appeal of Revenue is dismissed.[ S.260A ]
S. 45(4) : Capital gains – Distribution of capital asset – Dissolution of firm – Introduction of new partner – Amount received by existing partner for sacrificing his profit-sharing ratio – Realignment of share ratio – No transfer of asset – No capital gain taxable on relinquishment of share ratio-Post amendment , 2021 , Finance Act , 2021 . [S. 2(14), 2(47),9B , 45]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Accumulation of income-Corpus donation-Issue dealt in revision proceedings was unrelated in character from issue of corpus donation received by assessee which was dealt in re-assessment proceedings-Revision order was beyond period of two years-order is barred by limitation-Revision is quashed and set aside.[S. 11, 12A 143(1), 147, 148]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Government-funded educational institution-Assessing Officer has allowed the exemption based on a correct appreciation of facts and applicable law-Revision order is set aside. [S. 10(23C)(iiiab)]
S. 251 : Appeal-Commissioner (Appeals)-Powers-Ex-parte assessment order-Foreign tax credit-Order is set aside-DTAA-India-USA [S. 90, 139(1), Form No.67, Art. 25]
S. 220 : Collection and recovery-Assessee deemed in default-No order or notice of demand was issued-Not liable to pay interest. [S.156, 220(2)]
S. 201 : Deduction at source-Failure to deduct or pay-Deducting lower tax in earlier months of financial year-Short fall is made good in next month-Not liable to pay interest. [S. 192(3), 201(IA)]
S. 201 : Deduction at source-Failure to deduct or pay-Local Authority-Leave encashment-liable to deduct tax considering the exemption limit up to 3 lakhs-Revenue authorities are directed to recompute the quantum of tax deductible. [S.10(10AA), 201(1), 201(IA)]