Home Highlights August 2014 Year 2014 This

You may also like:

1. Allowability of a claim of expenditure u/s. 37(1) - deduction of commission expenses - A.O had failed to give any justifiable reason as regards declining of the...

2. Release of goods - insecticides, pesticides and other agrochemicals including technical such as “Cyantraniliprole Technical” - Import through Port which is not a...

3. Expenses under the head research and development - deduction of such expenses under the provisions of section 37(1) OR u/s 35 - the genuineness of the expenses cannot be...

4. Confiscation - fine - penalty - Mis-declaring the quantity of cigarettes imported under warehouse bill of entry for re-export purpose - The customs authorities...

5. Deduction u/s 37 - Guarantee commission paid to State Government – allowed as revenue expenditure - HC

6. Claim of interest on the refund amount of redemption fine - section 11B of Central Excise Act - It is clear that since the order of confiscation of goods has already...

7. Refund claim of the amount of pre- deposit - As per the cenvat credit rules, an assessee can take the cenvat credit of any duty paid on the inputs used in the...

8. Allowability of fine and penalty as per section 37 - the ‘FINE’ paid by the Assessee is allowed as expenditure u/s 37(1) the amount paid as ‘penalty’is an inadmissible...

9. Deduction u/s 36 or 37 - provisions for claims and compensation - A developer of a building could claim it as an expenditure in the year in which such expenditure is...

10. Claim of expenses disallowed u/s 37(1) - expenditure/loss incurred on abandoned project – for the first two years the expenditure is shown as “work-in-progress” - claim...

11. Claim of expenditure u/s 37(1) - medical insurance premium paid for the family members of the employees of the company - Claim of expenses allowed as business expenditure.

12. Confiscation of goods - Claim of waiver from imposition of redemption fine - merely because the importer acted in good faith will not entitle the importer to complete...

13. Liability of redemption fine when goods are confiscated - redemption fine, is an option in lieu of confiscation and hence, both cannot run simultaneously, which means...

14. Levy of redemption fine and penalty - valuation of imported goods - brass scrap - The appellate tribunal noted the absence of a market survey conducted by the...

15. Confiscation of goods and redemption fine - Exemption under Advance Authorization Scheme - Demand of IGST with interest paid on import of copper concentrate before the...