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Home e-Newsletters Index Year 2013 October Day 15 - Tuesday

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TMI Tax Updates - e-Newsletter
October 15, 2013

Case Laws in this Newsletter:

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



Articles


News


Circulars / Instructions / Orders


Highlights / Catch Notes

    Income Tax

  • Assessment u/s 153A - AO has no jurisdiction to make or to resort to roving and fishing inquiries to find out whether any income has escaped assessment during these reassessment proceedings. - AT

  • Capital or Revenue receipt - Where by the cancellation of an agency source of the assessee's income, the payment made to compensate for cancellation of the agency agreement is normally a capital receipt - AT

  • Expenditure to be treated as Revenue or Capital Expenditure – Merely because the amount spent has been used for construction of a building or structure of permanent nature is not the decisive test for holding the expenses to be of capital outlay or revenue outlay - AT

  • Assessment u/s 153A - The Assessing Officer was fully empowered to refer capital asset to the District Valuation Cell u/s 55A of the Income-tax Act. AO had not done so. - entire income by way of capital gains is chargeable to tax in the year in which the transfer took place. - AT

  • Party to litigation - aggrieved person / party - In case of demerger of a company, who should be made the party to the litigation - all appeals dismissed - AT

  • Disallowance of Deduction u/s 80-IC - manufacturing activity - conversion of Jumbo Rolls of photographic films into small flats and rolls in desired sizes - deduction allowed excluding DEPB - AT

  • Jurisdiction to issue Notice u/s 148 of the Income Tax Act - Issuance of Notice u/s 148 for income escaping assessment on the basis of ‘Borrowed satisfaction’ - reassessment not valid - AT

  • Computation of short term capital gains - Slump sale -CIT(A) has not reduced the amount of secured loans from the amounts of total assets to arrive at the net worth of undertaking which is not a correct position as per provisions of section 50B - AT

  • Assessment u/s 153C - The Assessing Officer was not constrained by the fetters of evidence found at the time of search alone. Assessment under Section 153C/153A cannot be treated on par with block assessments done under Chapter XIVB of the Act. - AT

  • Customs

  • WaiInvalid VKGUY credit - t is an admitted fact that the appellant herein is not an importer and he has only sold the VKGUY licences. - prmia facie demand can not be made from the appellant - stay granted - AT

  • Classification of Imported Goods – Import of Cotton seed oil - benefit of Exemption - once goods which were imported are edible after the refining, they have to be held as edible grade when imported - stay granted - AT

  • There is constant non-appearance of the appellant before this Tribunal - appeal is liable for dismissal for non-prosecution under Rule 20 of CESTAT (Procedure) Rules, 1982 - AT

  • Corporate Law

  • Disciplinary proceedings against the member of ICAI -Complaint as regards the charge under reference, did not survive but the Disciplinary Committee for reasons best known to it, proceeded with the inquiry and avoided a reference to the settlement - HC

  • Plaintiff has been successful in making out a case of infringement by the defendant of its registered trademark “OLD MONK” and “OLD MONK Label” by use of the mark “TOLD MOM” and “TOLD MOM Label” in relation to rum - HC

  • Service Tax

  • Construction of Building - When it was undisputed that the said services rendered by the appellant were consumed within Special Economic Zone - appellant had made out a prima-facie case for the waiver of pre-deposit of amounts involved - AT

  • Classification of Services – replacement of old insulation - Maintenance or Repair Services or Erection, Commission and Installation Services - stay granted partly - AT

  • Commercial and industrial construction service - applicant had constructed platform in the open place for platforms of Agricultural Product Market Committee - prmia facie not table - stay granted - AT

  • Central Excise

  • Benefit of Notification No. 6/2006 - The appellant is a manufacturer of water purification/filtration equipment – appellant is eligible for the concessional rate of duty of 4% without satisfying any condition - AT

  • Collection of incentives from the customer - whether an amount collected in the name of duty of excise - demand u/s 11D of the Central Excise Act - stay granted - AT

  • Valuation - sale thorough related persons – Rule 9 of Valuation Rules may not be applicable in this case in view of the fact that the entire quantity manufactured is not sold through related person - stay granted - AT

  • MRP Based duty u/s 4A or Transaction value u/s 4 on clearance of shoes - Effect of Amendment SWM Rule to the definition of ‘retail packages’ and Rule 2A - issue involved is pure question of law - stay granted - AT

  • VAT

  • Exemption under Section 3(B)(2-a) - Work contract - Assessee charged sales tax at 12% as against 4% on sales to the Government department - levy penalty confirmed - HC


Case Laws:

  • Income Tax

  • 2013 (10) TMI 528
  • 2013 (10) TMI 527
  • 2013 (10) TMI 526
  • 2013 (10) TMI 525
  • 2013 (10) TMI 524
  • 2013 (10) TMI 523
  • 2013 (10) TMI 522
  • 2013 (10) TMI 521
  • 2013 (10) TMI 520
  • 2013 (10) TMI 519
  • 2013 (10) TMI 518
  • 2013 (10) TMI 517
  • 2013 (10) TMI 516
  • 2013 (10) TMI 515
  • 2013 (10) TMI 514
  • 2013 (10) TMI 513
  • 2013 (10) TMI 512
  • 2013 (10) TMI 511
  • 2013 (10) TMI 510
  • 2013 (10) TMI 509
  • Customs

  • 2013 (10) TMI 508
  • 2013 (10) TMI 507
  • 2013 (10) TMI 506
  • 2013 (10) TMI 505
  • 2013 (10) TMI 504
  • 2013 (10) TMI 503
  • Corporate Laws

  • 2013 (10) TMI 502
  • 2013 (10) TMI 501
  • 2013 (10) TMI 500
  • Service Tax

  • 2013 (10) TMI 537
  • 2013 (10) TMI 536
  • 2013 (10) TMI 535
  • 2013 (10) TMI 534
  • 2013 (10) TMI 533
  • 2013 (10) TMI 532
  • 2013 (10) TMI 531
  • 2013 (10) TMI 530
  • Central Excise

  • 2013 (10) TMI 499
  • 2013 (10) TMI 498
  • 2013 (10) TMI 497
  • 2013 (10) TMI 496
  • 2013 (10) TMI 495
  • 2013 (10) TMI 494
  • 2013 (10) TMI 493
  • 2013 (10) TMI 492
  • 2013 (10) TMI 491
  • 2013 (10) TMI 490
  • 2013 (10) TMI 489
  • CST, VAT & Sales Tax

  • 2013 (10) TMI 539
  • 2013 (10) TMI 538
  • Indian Laws

  • 2013 (10) TMI 529
 

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