Updates:-

1.ITAT : SIM-card distributor liable for Sec 194H TDS on retailers incentives/discounts [TS-222-ITAT-2015(DEL)]

2.No TDS on Income of Corporation established U/s. 10(26BBB) for welfare of Ex-servicemenVide Circular No. 7/2015 dated 23.04.2015.

3.If AO not conducted proper inquiry, the obligation to do so is on CIT(A) & ITAT Commissioner Of Income Tax Vs. M/s. Jansampark Advertising And Marketing (P) Ltd. (Delhi High Court), ITA 525/2014, dated March 11, 2015

4.Burden of proof to take credit lies on assessee; failure to prove receipt of inputs would lead to denial of credit [2015] 56 taxmann 278 (Punjab & Haryana)

5. CST & VAT: Rajasthan VAT - Where Form No. ST-18 accompanied with goods under transport was found incomplete to extent that it did not disclose bill No. and date, levy of penalty under section 78(5) was justified
[2015] 56 taxmann.com 186 (Rajasthan)
Assistant Commercial Taxes Officer
v. Gora Mal Hari Ram Ltd.

6. Jewellery received from father/father-in-law on occasion of marriage couldn’t be held as unexplained investment
[2015] 56 taxmann.com 293 (Bombay)
Mrs. Komal Wazir v. DCIT

7. Was in CARO 03 now Removed in CARO 15
   -Maintenance of documents relating to loans & advance
   -Whether adequate documents and records are maintained in cases where the company has granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities; If not, the deficiencies to be pointed out.

8.Decision on claims for exemption of income from securities by FIIs under respective DTAAs in 1 month of claim. [CBDT Instruction of 24.04.2015].

9.New ITR forms might be split. The government has indicated that it might simplify the new ITR forms for filing income tax returns by breaking it up into parts so that not everyone has to grapple with complexity.

10.Companies can now file single compliance return for eight labour laws. Industries from now on will file just one labour compliance return for eight key labour laws ranging from the Industrial Disputes Act to Minimum Wages Act, the labour ministry said on Friday after easing the compliance process.

11. Service-Tax : A foreign company having no business establishment or operations in India, cannot be asked to pay service tax on services provided by it to Indian recipient merely because of a visit of its officers in India in course of providing service
[2015] 56 taxmann.com 259 (Karnataka)
Commissioner of Central Excise and Service Tax
v. Jacobs Engineering UK. Ltd.

12. Service Tax : Where prices are inclusive of all taxes, refund of excess tax if any paid by service provider cannot be hit by 'doctr ine of unjust enrichment', as there is no specific collection of service tax

[2015] 56 taxmann.com 121 (New Delhi - CESTAT)
Commissioner of Central Excise, Jaipur-II v. Roopa Ram Suthar

13. Was in CARO 03 now Removed in CARO 15

Reporting Requirements
Transactions to be entered into register of contract

a) Whether transactions that need to be entered into a register in pursuance of section 301 of the Old Act have been so entered;
b) Whether each of these transactions have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time;
(This information is required only in case of transactions exceeding the value of five lakh rupees in respect of any party and in any one financial year).

14.CBDT decided that Foreign Institutional Investors seeking treaty benefits under the provisions of respective DTAAs, decision may be taken on such claims within one month from the date such claim is filed. Dated 24.04.2015 Vide Press Release. (Click here to view)

15.HC: Allows Sec 10B benefit to a 'manufacturer' despite 'outsourcing' part of activities [TS-213-HC-2015(ALL)]

16.HC: No liability to pay service tax until actual receipt; Deletes Sec 43B disallowance [TS-215-HC-2015(BOM)]

17.Job worker of PSU can’t plead ignorance of law to avoid extended period of limitation [2015] 56 taxmann 279 (Madras)

18.SEZ units can remove goods for repair, replacement, R&D etc on basis of self attestation and undertaking for return of such goods.[ Instruction 84/SEZ of 16-04-2015].

Key Dates:-

Due date for deposit of Tax deducted/collected for the month of MARCH, 2015 : 30.04.2015

Excise Return ER-5 for FY 2014-15 by units paying duty > 1 crore (CENVAT + PLA): 30.04.2015

Excise Return ER-7 for FY 2014-15 by other excise units: 30.04.2015