B&B Tax

  Form 10B   This Form required detailed information under the following head:- 1. Basic Details.               2. Legal.              3. Registration Details.       4. Management. 5. Objects.                         6. Commencement of activities 7. Details of Place where books of accounts and other documents have been maintained. 8. Advancement of General Public Utility.            9. Business Undertaking 10. Business Incidental  to Objects.                      11. TDS on receipts 12. Voluntary contributions.                               ...

"6. Processing of Equalisation Levy Statement.-  (1) The Centre shall process a valid Equalisation Levy Statement in the following manner, namely:-  (a) the equalisation levy shall be computed after making the adjustment for any arithmetical error in the Equalisation Levy Statement ;  (b) the interest, if any shall be computed on the basis of sum deductible or payable, as the case may be, as computed in the Equalisation Levy Statement;  (c) the sum payable by, or the amount of refund due to, the assessee or e-commerce operator shall be determined after adjustment of the amount computed under clause (b) against any amount paid under subsection (2) of section 166 or section 166A or section 170 of the Act and any amount paid otherwise by way of tax or interest;  (d) no intimation shall be prepared or generated and sent, after the expiry of one year from the end of the financial year in which the Equalisation Levy Statement or revised Equalisation Levy Statement is ...

"CBDT, in exercise of its power under Section 119 of the Act, hereby provides that the compliances to be made by the taxpayers such as investment, deposit, payment, acquisition, purchase. construction or such other action, by whatever name called, for the purpose of claiming any exemption under the provisions contained in Section 54 to 54 GB of the Act, for which the last date of such compliance falls between 01st  April, 2021 to 28th February, 2022 (both days inclusive), may be completed on or before 31st March 2023." Circular No. 1/2023 dated 06.02.2023

"6. At the end of the last century, this Court in paragraph 15 of the its decision reported in (1998) 8 SCC 1 (Whirlpool Corporation vs. Registrar of Trade Marks, Mumbai and Others) carved out the exceptions on the existence whereof a Writ Court would be justified in entertaining a writ petition despite the party approaching it not having availed the alternative remedy provided by the statute. The same read as under:  (i) where the writ petition seeks enforcement of any of the fundamental rights;  (ii) where there is violation of principles of natural justice;  (iii) where the order or the proceedings are wholly without jurisdiction; or  (iv) where the vires of an Act is challenged.  7. Not too long ago, this Court in its decision reported in 2021 SCC OnLine SC 884 (Assistant Commissioner of State Tax vs. M/s. Commercial Steel Limited) has reiterated the same principles in paragraph 11.  8. That apart, we may also usefully refer to the decisions of this Cou...

" 34. In our view, the Revisional Authority might have been justified in exercising suo motu power to revise the order of the Assessing Authority had the decision of the Tribunal been set aside or its operation stayed by a competent Court. So long it is not disputed that the Tribunal’s decision, having regard to the framework of classification of products/tax liability then existing, continues to remain operative and such framework too continues to remain operative when the impugned revisional orders were made, the Revisional Authority was left with no other choice but to follow the decision of the Tribunal without any reservation. Unless the discipline of adhering to decisions made by the higher authorities is maintained, there would be utter chaos in administration of tax laws apart from undue harassment to assesses. We share the view expressed in Kamlakshi Finance Corporation Ltd. (supra).  35. In the midst of hearing, we had enquired from Mr. Sangwan whether there has been any...