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Home e-Newsletters Index Year 2014 September Day 16 - Tuesday

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TMI Tax Updates - e-Newsletter
September 16, 2014

Case Laws in this Newsletter:

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



Highlights / Catch Notes

    Income Tax

  • Whether the process of drawing wire of thinner gauge from wire or rods of thicker gauge, followed by finishing processes like annealing would amount to manufacture or production or consequently whether the assessee was eligible for deduction u/s 80IC - held yes - HC

  • Penalty u/s 271FA – Protection u/s 273B - Proper information not furnished by assessee – delay in furnishing the requisite AIR information by the appellant - bonafide ignorance - penalty confirmed - HC

  • Valuation report u/s. 142(A) – the basic pre-requisite of sec.142A is satisfaction of the AO - When the AO makes a reference at the behest of the CIT(A), the valuation report so obtained has no legal validity and has to be ignored - AT

  • Computation of STCG in reassessment proceedings – transactions for sale of land as well as the sale of super built up area - The working made by the learned first appellate authority is scientific and based on logic - AT

  • Rectification of mistake u/s 154 – Withdrawal of interest u/s 244(1A) – the issue dealt by the AO in the rectification order u/s. 154 of the Act cannot be said to be a mistake apparent from record as it was arrived after due application of mind - AT

  • Customs

  • Whether for the purpose of importing toys, the representative samples are to be sent to testing laboratory and if found to be in conformity with the requirement of law, the toys can be allowed to be imported - Held yes - HC

  • Service Tax

  • Availing cenvat credit while availing benefit of abatement notification no. 1/2006-ST - appellant agree to reverse the entire cenvat credit taken with respect to common services used for providing services under Notification No. 1/2006-ST. - AT

  • Waiver of penalty u/s 80 - penalty imposed u/s 78 for short payment - Further no bonafide could be proved as no reasonable ground could be shown by the respondent. - penalty confirmed - AT

  • Valuation of service - the value of goods used for repair would not be includible in the assessable value of service - HC

  • Central Excise

  • Power driven pump - What is driven by the power is the parts of the bowl assembly. The column and shaft assembly and discharge head assembly remains stationary and are therefore accessories and not “machine“ - HC


Articles


Case Laws:

  • Income Tax

  • 2014 (9) TMI 502
  • 2014 (9) TMI 501
  • 2014 (9) TMI 500
  • 2014 (9) TMI 499
  • 2014 (9) TMI 498
  • 2014 (9) TMI 497
  • 2014 (9) TMI 496
  • 2014 (9) TMI 495
  • 2014 (9) TMI 494
  • 2014 (9) TMI 493
  • 2014 (9) TMI 492
  • 2014 (9) TMI 491
  • 2014 (9) TMI 490
  • Customs

  • 2014 (9) TMI 472
  • 2014 (9) TMI 471
  • 2014 (9) TMI 470
  • 2014 (9) TMI 469
  • 2014 (9) TMI 468
  • Service Tax

  • 2014 (9) TMI 489
  • 2014 (9) TMI 488
  • 2014 (9) TMI 487
  • 2014 (9) TMI 486
  • 2014 (9) TMI 485
  • 2014 (9) TMI 484
  • 2014 (9) TMI 483
  • 2014 (9) TMI 482
  • 2014 (9) TMI 480
  • Central Excise

  • 2014 (9) TMI 481
  • 2014 (9) TMI 479
  • 2014 (9) TMI 478
  • 2014 (9) TMI 477
  • 2014 (9) TMI 476
  • 2014 (9) TMI 475
  • 2014 (9) TMI 474
  • 2014 (9) TMI 473
  • CST, VAT & Sales Tax

  • 2014 (9) TMI 467
  • 2014 (9) TMI 466
  • 2014 (9) TMI 465
  • 2014 (9) TMI 464
  • 2014 (9) TMI 463
 

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