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Home e-Newsletters Index Year 2015 March Day 17 - Tuesday

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TMI Tax Updates - e-Newsletter
March 17, 2015

Case Laws in this Newsletter:

Income Tax Customs Corporate Laws Service Tax Central Excise CST, VAT & Sales Tax Indian Laws



TMI SMS


Highlights / Catch Notes

    Income Tax

  • TDS on Subscription for Broadband facility - not in the nature of technical services and therefore TDS need not be made thereon as per the provisions of section 194J of the Act - AT

  • Depreciation on a part of issue of shares capitalised to Plant & Machinery and factory equipment denied - there is independent provision for amortisation expenses in connection with share issue expenses - disallowing the depreciation on the amount capitalized confirmed - HC

  • Eligibility to the benefit of exemption of Sec. 11 & 12 denied - legitimacy of expenditure on advertisement - payment made to M/s. SBC in which the trustees of the assessee society are the partners - assessee trust has not violated the conditions of Sec. 13(1)(c) - AT

  • Inflation of salary and wages - if we consider the case of 26 persons who had left the job in the month of August and September 2008 full explanation is not available - Therefore inflation of salary and wages cannot be ruled out totally - amount disallowed partly - AT

  • Capital gains on account of development agreement - Unless there is willingness on the part of the developer to perform his part of the contract, there cannot be a ‘transfer’ of capital asset as envisaged u/s 2(47)(v) read with section 53A of the TP Act - AT

  • Validity of reopening of assessment - Out of these two conflicting jurisdiction charts only one should be correct - period of implementation of the jurisdiction chart could be different - matter remanded back for verification - AT

  • Maintainability of appeal filed by appellant [Shri R.Subba Rao, former Managing Director] in his individual capacity against the order of the learned CIT(A) passed in the case/name of the Company - appeal dismissed - AT

  • Disallowance of claim of Exemption u/s.54F - investment in the purchase / acquisition of a new property should necessarily be in the name of the assessee and not in the name of another person - AT

  • Customs

  • Enhancement of the penalty - Assessee not declared the currency - enhancement of penalty by the learned Commissioner was not called for since only the appellant was in appeal before the Commissioner and Revenue was not in appeal - AT

  • Levy of anti dumping duty - appellant mis-declared the country of origin of the goods - Once such fraud is detected the goods render to be confiscated being smuggled goods under section 2 (39) of Customs Act 1962 - AT

  • Corporate Law

  • Winding up proceedings - We cannot be a mere on looker as to the deliberate disregard that the respondent had shown to this Court by making deliberate suppression. - HC

  • Service Tax

  • Denial of exemption benefit of Notification No. 32/2004-ST - CBEC circulars cannot restrict or expand the amplitude of an exemption notification nor can they add/subtract conditionalities thereto/there from. - AT


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • Income Tax

  • 2015 (3) TMI 503
  • 2015 (3) TMI 502
  • 2015 (3) TMI 501
  • 2015 (3) TMI 500
  • 2015 (3) TMI 499
  • 2015 (3) TMI 498
  • 2015 (3) TMI 497
  • 2015 (3) TMI 496
  • 2015 (3) TMI 495
  • 2015 (3) TMI 494
  • 2015 (3) TMI 493
  • 2015 (3) TMI 492
  • 2015 (3) TMI 491
  • 2015 (3) TMI 490
  • 2015 (3) TMI 489
  • 2015 (3) TMI 488
  • 2015 (3) TMI 487
  • 2015 (3) TMI 486
  • 2015 (3) TMI 485
  • Customs

  • 2015 (3) TMI 513
  • 2015 (3) TMI 512
  • 2015 (3) TMI 511
  • 2015 (3) TMI 510
  • 2015 (3) TMI 509
  • Corporate Laws

  • 2015 (3) TMI 508
  • 2015 (3) TMI 507
  • 2015 (3) TMI 506
  • Service Tax

  • 2015 (3) TMI 526
  • 2015 (3) TMI 525
  • 2015 (3) TMI 524
  • 2015 (3) TMI 523
  • Central Excise

  • 2015 (3) TMI 517
  • 2015 (3) TMI 516
  • 2015 (3) TMI 515
  • 2015 (3) TMI 514
  • CST, VAT & Sales Tax

  • 2015 (3) TMI 522
  • 2015 (3) TMI 521
  • 2015 (3) TMI 520
  • 2015 (3) TMI 519
  • 2015 (3) TMI 518
  • Indian Laws

  • 2015 (3) TMI 505
  • 2015 (3) TMI 504
 

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