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Home e-Newsletters Index Year 2015 September Day 17 - Thursday

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TMI Tax Updates - e-Newsletter
September 17, 2015

Case Laws in this Newsletter:

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



TMI SMS


Highlights / Catch Notes

    Income Tax

  • Deduction u/s 80IA - for different months from April to March, the number of workers varies from eleven to thirteen, which are based upon the summary shit of muster book evidencing that during the relevant period, the assessee employed more than ten workers - deduction allowed - AT

  • Reopening of assessment - Since the notice u/s 148 was issued by an officer not having jurisdiction over the assessee, the notice itself is bad and invalid. Therefore, the assessment framed consequent thereto also deserves to be quashed. - AT

  • Income from the house property shown by the assessee on letting out the property on rent to her husband - the assessee’s income from letting out the property is to be taxed under the head “income from house property” - AT

  • Addition on account of accommodation entries received - AO had shifted entire burden upon the assessee and no material was brought by him to prove his allegation that impugned amount actually represent undisclosed income of the assessee. - AT

  • Depreciation - vehicles used in the business of transportation of municipal solid waste - @ 30% OR @15% - There is a commercial exploitation of the vehicles for transporting the goods on hire. Therefore, the assessee is entitled for higher rate of depreciation - AT

  • Addition of Preliminary expenses written off as deferred revenue expenses - treating the expenses are of capital nature - An AO, as indeed any other authority in the IT Act, cannot turn to the assessee and say that although he has authority to do something for the good of the assessee, it is not necessary that he must exercise that authority. - AT

  • Payment of remuneration and interest by the assessee firm to its partners - once the income was estimated at 15 of the gross commission amount by invoking the provisions of S. 144, no further deduction on account of interest and remuneration paid to the partners can be allowed as per the specific provisions of S. 184(5) - AT

  • Addition on account of cash found during the search - submission that cash belonged to other company - confirmation furnished after more than two years of search - even if it appears to be an after thought, the same cannot be the basis for rejection of confirmation without any further examination and verification from the assessment records of other person - AT

  • Customs

  • Import of designs and drawings - Designs and drawings contained in the CD were correctly classifiable under Heading 85238020 and attracts 'nil' rate of duty as per Customs Tariff. The requirements of supplementary note to Chapter 8523 are therefore satisfied - AT

  • Import of Crude Palm Oil - Benefit of Exemption notification-21/2002-Cus – Neither samples were drawn not stored as per required standard and in absence of prescribed apparatus for testing, Commissioner erred in relying upon test report of Dy. Chief Chemist - AT

  • Corporate Law

  • A Private Company can now accept unsecured loans apart from director or even from a relative with simple declaration saying the relative has not borrowed same from others. The relative need not be a shareholder of the company

  • Service Tax

  • Rejection of declaration under VCES - Any notice, which is merely 'issued' but not 'served' cannot be said to be within the knowledge of the person against whom it is 'issued' but not 'served' - dismissing the VCES-I declaration is not correct - AT

  • Short payment of service tax - MSO / Cable operator services - under-reporting of number of subscribers - The subscriber base as calculated by the revenue for this period is a notional one, theoretical without any basis - AT

  • Leased circuit service - leasing of dark fibre cables - telegraph authority. - the demand pertaining to leased circuit service is clearly sustainable on merit. - AT

  • Waiver of pre deposit - Mandatory pre deposit - amended Section 35F by requiring the appellant to deposit only 7.5%/10% of duty or penalty as the case may be, has in no way prejudiced the appellants right to appeal vis-ŕ-vis their right to appeal as it existed prior to 6-8-2014 - AT

  • Central Excise

  • Refund claim - Duty paid under protest - tribunal allowed the refund claim on the ground that, no proceedings were issued under Section 11A - If this position is accepted then the provisions for adjudication in the Act and the Rules, the provision for appeal in the Act and the Rules will lose their relevance and the entire exercise will be rendered redundant. - HC

  • Disallowance of CENVAT Credit - the invoices in question are not in the name of the appellant. Hence, the appellant is not entitled to avail the credit - reversal of credit is justified - HC

  • Dismissal of appeal - non grant of adjournment by the tribunal - principle of natural justice - the question as to whether there is any liability to pay interest for the period of delayed payment of duty, has not been discussed in detail, more particularly, with regard to the facts in issue - matter remanded back - HC

  • VAT

  • Constitutional validity of levy of VAT on pure services like implementation, customization and other support services in respect of software - legislative competence - The contract for implementation, which is nothing but a service contract, is not liable to VAT - HC

  • It is astonishing that, Tribunal dismissed restoration application for such simple reason that, same has been filed by partner, who is not competent to file such application – Tribunal ought not have adopted such hyper-technical approach - HC


Articles


Circulars / Instructions / Orders


News


Case Laws:

  • Income Tax

  • 2015 (9) TMI 712
  • 2015 (9) TMI 711
  • 2015 (9) TMI 710
  • 2015 (9) TMI 709
  • 2015 (9) TMI 708
  • 2015 (9) TMI 707
  • 2015 (9) TMI 706
  • 2015 (9) TMI 705
  • 2015 (9) TMI 704
  • 2015 (9) TMI 703
  • 2015 (9) TMI 702
  • 2015 (9) TMI 701
  • 2015 (9) TMI 700
  • 2015 (9) TMI 699
  • 2015 (9) TMI 698
  • 2015 (9) TMI 697
  • 2015 (9) TMI 696
  • 2015 (9) TMI 695
  • 2015 (9) TMI 694
  • 2015 (9) TMI 693
  • 2015 (9) TMI 692
  • 2015 (9) TMI 691
  • Customs

  • 2015 (9) TMI 718
  • 2015 (9) TMI 717
  • 2015 (9) TMI 716
  • 2015 (9) TMI 715
  • 2015 (9) TMI 714
  • 2015 (9) TMI 713
  • Service Tax

  • 2015 (9) TMI 737
  • 2015 (9) TMI 736
  • 2015 (9) TMI 735
  • 2015 (9) TMI 734
  • 2015 (9) TMI 733
  • 2015 (9) TMI 732
  • 2015 (9) TMI 731
  • Central Excise

  • 2015 (9) TMI 727
  • 2015 (9) TMI 726
  • 2015 (9) TMI 725
  • 2015 (9) TMI 724
  • 2015 (9) TMI 723
  • 2015 (9) TMI 722
  • 2015 (9) TMI 721
  • 2015 (9) TMI 720
  • 2015 (9) TMI 719
  • CST, VAT & Sales Tax

  • 2015 (9) TMI 738
  • 2015 (9) TMI 730
  • 2015 (9) TMI 729
  • 2015 (9) TMI 728
 

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