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Home e-Newsletters Index Year 2016 August Day 17 - Wednesday

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TMI Tax Updates - e-Newsletter
August 17, 2016

Case Laws in this Newsletter:

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



TMI SMS


Highlights / Catch Notes

    Income Tax

  • Income Declaration Scheme, (Second Amendment) Rules, 2016 - Notification

  • Business loss - Nature of payment made towards one time settlement to clear the dues - Tribunal was utterly wrong in holding that the amount paid by the assessee to the bank in settlement of the debt owed by New Tobacco Company was a business loss of the appellant - HC

  • Disallowance on account of labour charges, jelly purchase, sand purchase and gravel purchase and vouchers are self made could not be verified - disallowance at 50% to be made on self made vouchers - AT

  • Interest on account of late deposit of TDS u/s. 201(1)/201(1A) - where the cheque had been deposited with the bank or before 7th day of next month in which TDS was deducted no interest will be chargeable - AT

  • Customs

  • Refund - The contention of the assessee that the ADD was paid without assessment is totally untenable. It was paid very much in the process of assessment and clearance before allowing out-of-charge and clearance of the goods was allowed only after the payment of ADD - AT

  • DGFT

  • Removal of mandatory warehousing requirements for EOUs, STPIs, EHTPs etc. - amendment in paras 6.01, 6.13, 6.19 and 6.28 of FTP 2015-2020 - Notification

  • SEZ

  • Authorized employees of IT/ITeS units in SEZ allowed to Work from Home or place outside the SEZ unit - Government of India

  • Corporate Law

  • Companies (Share Capital and Debentures) Fourth Amendment Rules, 2016 - Notification

  • Service Tax

  • Levy of penalty - benefit of doubt - rent-a-cab service - the revenue was not clear about category of services under which assessee can be taxed and that is why initially revenue issued a show cause notice under the category of tour operator services - No penalty - AT

  • Refund of service tax paid on GTA services - service tax was paid directly by the provider of services whereas it was the liability of the recipient under reverse charge - refund allowed - AT

  • All the services of the appellant related to civil construction under Management, Maintenance or Repair and construction of govt. buildings, rendered to Varanasi Development authority are not liable to Service Tax. - AT

  • Cenvat credit - Refund – Export of call centre services – remuneration given by the holding company – whether the holding company is service recipient for the purpose of Rule 3(2) of the Export of Service Rules, 2005 or the customers situated in and outside India - Held Yes - AT

  • Central Excise

  • Whether the Appellants are eligible to pay duty by debitting CENVAT Credit account on the waste and scrap generated during the course of job work - Held Yes - AT

  • Cenvat credit - Service Tax paid on Consultancy Service in connection with setting-up of Solar Power Project - the denial of credit, on the speculation that the electricity likely to be generated in such Solar Project could also be sold by the appellant, is not justified - AT

  • Valuation - it is the value of the reels which has to be adopted for charging duty and the cost of transportation and insurance from factory gate to the cutting would not be includable in the assessable value. - AT


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • Income Tax

  • 2016 (8) TMI 568
  • 2016 (8) TMI 567
  • 2016 (8) TMI 566
  • 2016 (8) TMI 565
  • 2016 (8) TMI 564
  • 2016 (8) TMI 563
  • 2016 (8) TMI 562
  • 2016 (8) TMI 561
  • 2016 (8) TMI 560
  • 2016 (8) TMI 559
  • 2016 (8) TMI 558
  • 2016 (8) TMI 557
  • 2016 (8) TMI 556
  • 2016 (8) TMI 555
  • 2016 (8) TMI 554
  • 2016 (8) TMI 553
  • 2016 (8) TMI 552
  • 2016 (8) TMI 551
  • 2016 (8) TMI 550
  • Customs

  • 2016 (8) TMI 576
  • 2016 (8) TMI 575
  • 2016 (8) TMI 574
  • Corporate Laws

  • 2016 (8) TMI 571
  • 2016 (8) TMI 570
  • 2016 (8) TMI 569
  • Service Tax

  • 2016 (8) TMI 592
  • 2016 (8) TMI 591
  • 2016 (8) TMI 590
  • 2016 (8) TMI 589
  • Central Excise

  • 2016 (8) TMI 593
  • 2016 (8) TMI 588
  • 2016 (8) TMI 587
  • 2016 (8) TMI 586
  • 2016 (8) TMI 585
  • 2016 (8) TMI 584
  • 2016 (8) TMI 583
  • 2016 (8) TMI 582
  • 2016 (8) TMI 581
  • 2016 (8) TMI 580
  • 2016 (8) TMI 579
  • 2016 (8) TMI 578
  • 2016 (8) TMI 577
  • CST, VAT & Sales Tax

  • 2016 (8) TMI 573
  • 2016 (8) TMI 572
 

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