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Highlights / Annotations / Catch Notes For January of 2013

Home Highlights January January 2013 Year 2013

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Showing 151 to 200 of 314 Records

January 18, 2013 Circulars FEMA

Exim Bank's Line of Credit (LOC) of USD 20 million to Nigerian Export-Import Bank - Circular
January 18, 2013 Circulars Income Tax

Exchange of Information for Tax Purpose with Foreign Jurisdictions – Guidelines for inbound and outbound requests - Order-Instruction
January 18, 2013 Circulars FEMA

Reporting under Foreign Exchange Management Act, 1999 (FEMA) - Circular
January 18, 2013 Circulars Income Tax

Issues relating to export of computer software Direct tax benefits -Clarification reg. - Circular
January 18, 2013 Case Laws Income Tax

Long Term Capital Gain on relinquishment from utilization of business know-how - prior to 1st April 2003 such a payment is to be treated as capital receipt not liable for tax - AT
January 18, 2013 Case Laws Income Tax

Retirement compensation paid to workmen - the expenditure was incurred upon the closure of the business - must be allowed in its entirety in the year in which it is incurred - AT
January 18, 2013 Case Laws VAT and Sales Tax

Non registration of additional place of business/branches or godown with the Commercial Taxes Department - Section 27(2) of TNVAT Act read with Section 9 of the CST Act - HC
January 17, 2013 Case Laws Central Excise

Abatement of duty in case of non-production of goods - Rule 10 of Pan Masala Packing Machines Rules - an assessee is entitled to abatement provided there has been no......
January 17, 2013 Case Laws Income Tax

De-recognized interest on accrual basis on Non-Performing assets (NPA) - interest income from NPAs should be recognised only on actual receipt. - AT
January 17, 2013 Case Laws Income Tax

Lease rent - Business income OR income from house property - It is not a case that the assessee had to let out the hotel building for a temporary period due to some......
January 16, 2013 Case Laws Central Excise

SSI Exemption - branded goods - cookies sold even without inscription of the brand name - Failed to see how the same branded cookies, sold in containers, can transform......
January 16, 2013 Case Laws Central Excise

Manufacture - It is obvious that a statutory definition as contained in Section 2(f) has interpreted by a competent Tribunal could not have been modified by Board by......
January 16, 2013 Case Laws Service Tax

Ship Management Services - it is seen that prior to 1st May 2006, there is inconsistency in the stand of the Revenue. Therefore, it would be just and proper in the facts....
January 16, 2013 Case Laws Service Tax

Services of a Valuer - services rendered by the petitioners as valuers would not fall within the ambit of services rendered by a “consulting engineer“ as defined under......
January 16, 2013 Case Laws Service Tax

Cenvat Credit of service tax on catering, pick up service and mobile telephone services - in relation to manufacturing activity - found as eligible input services - credit allowed - HC
January 16, 2013 Case Laws Income Tax

Undisclosed Income - unable to accept that payment of Advance Tax based on “current income” involves the disclosure of “total income” - SC
January 16, 2013 Case Laws Income Tax

Depreciation u/s 32 - use of vehicles by way of leasing out to others and not as actual user of the vehicles - business of running them on hire - ownership established -....
January 16, 2013 Case Laws Income Tax

Exemption from payment of income tax on interest earned - fixed deposits kept with certain banks which were corporate members of the assessee club - principle of......
January 16, 2013 Case Laws Income Tax

Waiver of Interest levied u/s 220(2) - this is not a case where the assessee had established that payment of interest would cause genuine hardship to him - HC
January 16, 2013 Case Laws Income Tax

Exemption from TDS on the interest income received - The terms of the notification itself show that a society like the petitioner which is registered under the......
January 16, 2013 Case Laws Income Tax

Depreciation on sale and lease back contracts and lease contracts - number of transactions with different parties analyzed. - HC
January 16, 2013 Case Laws Income Tax

Search & Seizure – Undisclosed income - Additions towards F.D.Rs. in the names of the employees of the assessee and five relatives and friends of the Managing Director confirmed - HC
January 16, 2013 Case Laws Income Tax

TDS u/s 194C – Supply contract – TDS on Contract for sale – respondents shall not deduct income tax from the bills of the petitioners towards supply of salt - HC
January 16, 2013 Case Laws Companies Law

Claim of the petitioning creditor on account of dues from its distribution agent - dues accepted in emails - Yet, on the basis of the mail exchanged at the relevant......
January 15, 2013 Case Laws Central Excise

Cenvat Credit denied - Special Boiling Point Spirits (SBPS)/Solvent 1425 - What is excluded form the definition of ‘input’ is “Motor Spirits commonly known as petrol”......
January 15, 2013 Case Laws Central Excise

Eligible services for availing input service credit as defined under Rule 2(l) of the CCR, 2004 - scope of rule 2(l) with regard to various input services explained - HC
January 15, 2013 Case Laws Central Excise

Compounded Levy Scheme - penalty - rule providing for penalty equal to the monthly duty liability for delay in discharge of monthly duty liability by due date has been.....
January 15, 2013 Case Laws Customs

Custom duty on coking coal – adoption of a new technology enabling use of coal, which could be converted into coke in admixture with other coal, without conversion of......
January 15, 2013 Case Laws Service Tax

Utilizing CENVAT Credit in discharging service tax liability of GTA service (outward freight) - imposition of penalty under Section 76 - penalty waived u/s 80 - AT
January 15, 2013 Case Laws Service Tax

Consulting Engineering Services v/s Scientific and Technical Consultancy Service - Scientific or Technical Consultancy was brought under Service Tax net with effect......
January 15, 2013 Case Laws Customs

Rejecting of Transaction value of imported goods – the best evidence is flowback of extra consideration. Since the parties are related parties such evidence may not......
January 15, 2013 Case Laws Income Tax

Search u/s 132 - prohibitory orders passed u/s 132(3) - Since pre-conditions had not been satisfied, the warrant of authorisation would have to be quashed - HC
January 15, 2013 Case Laws Income Tax

Accumulation of income - Form-10 had not been furnished along with the return but was filed during the course of the assessment - Act did not contemplate such re-opening....
January 15, 2013 Case Laws Income Tax

Reopening of assessment - siphoning of funds - assessee was under a duty to disclose these particulars fully and truly at the time of the original assessment - Notice......
January 15, 2013 Case Laws Income Tax

Capital gain or business income - it is possible for a tax payer to have two portfolios i.e. an investment portfolio comprising of securities which are to be treated as.....
January 15, 2013 Case Laws Income Tax

Non deduction of TDS - Lorry Booking Income - contract was actually between the exporter and the airline and the assessee was only an intermediary and, therefore, it was....
January 14, 2013 Case Laws Central Excise

Penalty on directors - Rule 26 of the Central Excise Rules - Rule 26 is prima facie in excess of the Rule making power conferred under the Central Excise Act, 1944 - HC
January 14, 2013 Case Laws Central Excise

Gift to dealers - Whether includible in assessable value - There is no evidence on record to show that these diaries have been provided by the appellants for their......
January 14, 2013 Case Laws Service Tax

Reverse charge u/s 66A - revenue neutral - When a tax liability arises it should be discharged in time. If there is a default, then liability to interest is automatic......
January 14, 2013 Case Laws Service Tax

Franchisee service - Business auxiliary service - for failure to pay service tax in time, the appellant is liable to penalty u/s 76. - AT
January 14, 2013 Case Laws Customs

Period of limitation - recovery of duty drawback - The SCN which have been issued after a period of more than three years cannot by any stretch of imagination be said......
January 14, 2013 Case Laws Income Tax

The expression “Assessing Officer“ used in the section 148 means 'the Assessing Officer vested with the jurisdiction over the assessee as stipulated in the definition......
January 14, 2013 Case Laws Income Tax

Exemption under section 54F - it is sufficient for the assessee to utilize the capital gains for the purchase of a flat before the extended due date under section 139(4) - AT
January 14, 2013 Case Laws Income Tax

Whether manual filed return is a valid return under Income Tax Act, whereas e-filling is mandatory as per CBDT - Yes, that return is absolutely valid in law. - AT
January 14, 2013 Case Laws Income Tax

Trading on MCX - Speculative loss - set off against the business income - section 43(5)(c) - the transactions in nature of jobbing not to be treated as speculative transaction - AT
January 14, 2013 News Finance Act / Amendment Acts

Final Report on General Anti Avoidance Rules (GAAR) in Income-tax Act, 1961 Expert Committee (2012)
January 14, 2013 Notifications FEMA

Foreign Exchange Management (Guarantees) (Amendment) Regulations, 2012 – Amendment in Regulations 2 And 4 - Notification
January 14, 2013 Notifications FEMA

Foreign Exchange Management (Foreign Currency Accounts by A Person Resident In India) (Second Amendment) Regulations, 2012 - Amendment in Regulation 5 and Schedule-I - Notification
January 14, 2013 Notifications FEMA

Foreign Exchange Management (Borrowing or Lending In Foreign Exchange) (Fourth Amendment) Regulations, 2012 - Amendment in Schedule II - Notification
January 14, 2013 Notifications FEMA

Foreign Exchange Management (Guarantees) (Third Amendment) Regulations, 2012 - Insertion of Regulation 3A - Notification

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F: Stock damaged in recent floods

F: GST on Solar Plant

A: PENALTY ON DIRECTORS CONTRAVENING EXPORT REGULATIONS UNDER FOREIGN EXC...

A: Difference between “License” and “Royalty”

A: Penalty proceedings under Section 130 of the CGST Act cannot be initia...

N: Inland Container Depots for loading and unloading of goods - Seeks to ...

C: Guidelines to Stock Exchanges, Clearing Corporations and Depositories

T: Supreme Court Upholds Validity of Re-Assessment Notices Issued During ...

F: Transfer of ITC without filing ITC-02

F: assessment order

F: INTERMEDIARY SERVICES OR EXPORT SERVICES

H: Revision: Hospital receipts verified, partial refunds & fees paid subs...

F: ITC Issue in case of Acqusition of Company in Insolvency

H: Goods matched documents like e-way bill and invoices; detention order ...

H: Goods Inspection Matches E-Way Bill, Lack of Tax Evasion Intent Quashe...

H: Income tax reassessment validity: AO initiated proceedings u/s 147 ins...

H: Reassessment Rules Interpretation: Taxpayer Wins Over Accommodation En...

H: Sale-purchase loss disallowed unreasonably by tax officer, commercial ...

H: Building sale value can't determine depreciation; actual consideration...

H: Loan to equity conversion attracts income tax on excess share premium ...

H: Property purchase: Joint owners pay via banking channels before regist...

H: Tax exemption limit for leave encashment: Local authorities' employees...

H: Tax assessments beyond 6-year limit quashed, satisfaction note lacked ...

H: Cash found in lockers linked to temple trust and educational foundatio...

H: Microphone Tech Classification: Functionality Over Technology.

H: Exemption from Social Welfare Surcharge on duty-free imports via scrips.

H: Claim for performance pay not an operational debt under IBC; Multiple ...

A: Director Identification Number

A: No GST is applicable for the services provided by the Director under p...

A: Income Tax Act Revamp (Comprehensive Review): Status and Suggestion on...