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Home e-Newsletters Index Year 2015 April Day 13 - Monday

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TMI Tax Updates - e-Newsletter
April 13, 2015

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

  • Reopening of assessment - expenses under the head "management fees" undisclosed - Assessee had disclosed what was relevant and necessary for the purpose of making assessment - this is a clear case of change of opinion - HC

  • Deemed dividend u/s 2(22)(e) - Advance against sales - the payments received by the assessee from AIL are receipt against sales made during the course of commercial transactions and therefore, provision of Section 2(22)(e) is not applicable. - AT

  • Non deduction of tax at source on conversion charges under section 194C - no disallowance can be made under section 40(a)(ia) as the assessee has paid the amount during relevant previous year - AT

  • Restriction on cash expenditure u/s 40A(3) - activity of supply of food grains, sugar & kerosene under Public Distribution System - payments has been made to dealer authorised by the Govt. and not to the Government itself. - disallowance confirmed - AT

  • Gain arising on sale of plots - agricultural land - The continued organized efforts of the assessee and the value addition to the agricultural land is sufficient proof of the intention of the assessee to venture into trading activity in land - AT

  • Customs

  • Classification of projectors imported by the appellant - Just because the explanatory notes shows that monitors which are capable of accepting a signal only from the CPU of an ADP machine are included under monitor heading, does not mean that other items are not includible - AT

  • Service Tax

  • Recovery of service tax u/s 87 without adjudication on the basis of raid - Unless the proceeding u/s 73 is completed recovery notice under Section 87 could not have been issued by the respondents - HC

  • Eligibility to avail Cenvat credit for providing Cellular services - towers and pre-fabricated buildings/shelters - Capital goods - extended period cannot be invoked - demand confirmed for the normal period of limitation with interest - penalty waived - AT

  • Central Excise

  • Refund claim - capital goods - Captive consumption - principle of unjust enrichment is applicable even when the goods are used for captive consumption - SC

  • Assessee admits taking of cenvat credit and contrary to the condition No. 41 of the Exemption Notification, which enables it to claim or remove the goods at nil duty. Knowing fully well, the Assessee could not have availed of the benefit of such exemption Notification - HC

  • Denial of refund claim - Unjust enrichment - Since Department itself having admitted the fact that the appellant is controlled, funded and monitored by the State, it cannot be said that the appellant is unjustly enriching itself - refund allowed - HC

  • Challenge to the show cause notice - Valuation of goods - alternate remedy - supply of cement to their own ready-mix concrete units for captive consumption - captive consumption - Adjudicating Authority to decide the issue in accordance with law - HC

  • CENVAT Credit availed wrongly on Capital goods - there is no sufficient evidence to prove Mens rea or guilt on the part of the assessee - no penalty - HC

  • VAT

  • Whether a University/Institution, whose dominant activity or the main activity is imparting education to the students merely, by providing cement, iron and steel by it to its contractors for execution of civil work and providing prospectus to the prospective students by it, can be said to be a business activity or otherwise and could the institution be a dealer - Held No - HC


Case Laws:

  • Income Tax

  • 2015 (4) TMI 376
  • 2015 (4) TMI 375
  • 2015 (4) TMI 374
  • 2015 (4) TMI 373
  • 2015 (4) TMI 372
  • 2015 (4) TMI 371
  • 2015 (4) TMI 370
  • 2015 (4) TMI 369
  • 2015 (4) TMI 368
  • 2015 (4) TMI 367
  • 2015 (4) TMI 366
  • 2015 (4) TMI 365
  • Customs

  • 2015 (4) TMI 381
  • 2015 (4) TMI 380
  • 2015 (4) TMI 379
  • Corporate Laws

  • 2015 (4) TMI 378
  • Service Tax

  • 2015 (4) TMI 396
  • 2015 (4) TMI 395
  • 2015 (4) TMI 394
  • Central Excise

  • 2015 (4) TMI 389
  • 2015 (4) TMI 388
  • 2015 (4) TMI 387
  • 2015 (4) TMI 386
  • 2015 (4) TMI 385
  • 2015 (4) TMI 384
  • 2015 (4) TMI 383
  • 2015 (4) TMI 382
  • CST, VAT & Sales Tax

  • 2015 (4) TMI 393
  • 2015 (4) TMI 392
  • 2015 (4) TMI 391
  • 2015 (4) TMI 390
  • Indian Laws

  • 2015 (4) TMI 377
 

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