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Highlights / Annotations / Catch Notes For January of 2013

Home Highlights January January 2013 Year 2013

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Showing 251 to 300 of 314 Records

1 ....2 3 4 567

January 8, 2013 Case Laws Income Tax

TDS u/s 194J - reimbursement was on cost to cost basis - reimbursement of such expenses cannot be categorized as in the nature of fees towards professional and technical services. - AT
January 8, 2013 Case Laws Income Tax

Computation of undisclosed income under section 158BB(1) - the deduction under Chapter VI-A has to be given while computing total income or loss. - HC
January 7, 2013 Case Laws Central Excise

Cenvat Credit - Once the Revenue discharges the burden that the particulars declared in the documents on the strength of which the credit has been availed are not......
January 7, 2013 Case Laws Central Excise

Ayurvedic soap manufactured under the brand name MEDIMIX - Their product cannot be classified under sub-heading 3401.19 by reason of the fact that power was used to......
January 7, 2013 Case Laws Service Tax

CENVAT Credit - BSNL may please note that the procedure laid down under the Rules are intended to be followed and cannot be circumvented by quoting different decisions......
January 7, 2013 Case Laws FEMA

Condonation of delay – a party who has been all through pursuing his remedies cannot be non-suited on the count that the period of limitation prescribed under Section 35....
January 7, 2013 Case Laws Income Tax

Modus operandi for tax evasion - Sham transactions - In three days, the assessee himself, who was having no worth, alleged that he borrowed Rs.25.97 lakhs from 148......
January 7, 2013 Case Laws Income Tax

Computation of profit u/s 80IA - The tax component is very much part of the sale of electricity from the Thermal Power Generating Stations and the mere fact that a......
January 7, 2013 Case Laws Income Tax

Computation of Book Profit u/s 115JB - provisions regarding take or pay lease rental charges and the provisions for wage revision is a contingent liability. - AT
January 7, 2013 Case Laws Income Tax

Assessment u/s 144 - Section 44AD deems the net profit rate at 8% in cases where accounts are not maintained and turnover is up to Rs.40.00 lacs. This however, does not.....
January 7, 2013 Case Laws Income Tax

Assessee in default u/s 220 – Recovery - The use of the term 'shall' in section 156 implies that service of demand notice is mandatory before initiating recovery......
January 7, 2013 Case Laws Income Tax

Addition of surplus realised on sale of jewellery - The excess amount on sale of jewellery has neither accrued nor has been received by the bank as its income u/s. 5 of.....
January 7, 2013 Notifications Customs

Imports of Hot Rolled Flat Products of Stainless Steel - 304 grade (upto a maximum width of 1605 mm) and encompassing all austenitic grades having minimum Nickel (Ni)......
January 5, 2013 Case Laws Service Tax

Interest on refund claim rejected - the liability to pay interest to the Petitioner after expiry of a period of three months from the date of receipt of the Application.....
January 5, 2013 Case Laws Customs

Simply because the authorities who are expected to enforce the law are unable to enforce effectively, it does not mean that the statutory provision must be given a go bye - HC
January 5, 2013 Case Laws Income Tax

Exemption u/s.10-B - the set off of the eligible unit loss against income of non eligible unit during the tax holiday period when the Assessee has not opted out of the......
January 5, 2013 Case Laws Income Tax

Commencement of business - it would be unfair for the revenue to contend for each successive assessment year that the assessee had to establish that it "commenced business." - HC
January 5, 2013 Case Laws Income Tax

Penalty u/s 271D & 271E - when it is not established that the assessee had taken loan or deposit, the question of further presumption that such loan or deposit was......
January 5, 2013 Case Laws Income Tax

Penalty u/s. 271B - Failure to get accounts audited u/s 44AB - the assessee deliberately adopts a legal stand, which is without basis, so that it cannot claim to have......
January 5, 2013 Case Laws Income Tax

Broken period interest paid to the sellers of the securities - revenue v/s capital - if the securities were held by the banking company as stock-in-trade of the......
January 5, 2013 Case Laws Central Excise

Clearance by 100% EOU to DTA - Without permission - Since the decision of the CESTAT is based on the clarification given by the office of the Development Commissioner,......
January 5, 2013 Case Laws Central Excise

Cenvat credit wrongly availed - appellant had entertained bonafide belief regarding availability of cenvat credit and therefore, extended period is not invokable - AT
January 5, 2013 Case Laws Central Excise

Demand u/s 11D - Levy of penalty u/s 11AC - There is no provision either in the Act or in the Rule for imposing of penalty, where demand has been paid u/s 11D. - AT
January 5, 2013 Case Laws Customs

Import by Post – Postal import - The refund claim filed by the respondent challenging the assessment made and seeking benefit of notification has to be treated both as a....
January 5, 2013 Case Laws Income Tax

Penalty u/s 271(1)(c) - Concealment of income - Evasion of Tax - even after such disallowance, tax finally required to be paid, as per Section 115 JB of the Act, would......
January 5, 2013 Case Laws Income Tax

Revision of orders prejudicial to revenue by CIT - an incorrect assumption of facts or an application of law will satisfy the requirement of the order being erroneous. - HC
January 5, 2013 Case Laws Income Tax

Bogus purchases - Disallowance merely on the basis of suspicion because the sellers and the canvassing agents have not been produced before them is not warranted - HC
January 5, 2013 Case Laws Income Tax

Exemption u/s 80-P (2) (a) (i) - The question as to whether the business is derived from or attributable to SLR or non-SLR funds would not make any difference for the......
January 5, 2013 Case Laws Income Tax

Addition towards stale cheques issued to ex-employees - How these cheques remained uncashed for almost two years is not clear. CIT (A) was not justified in granting the.....
January 5, 2013 Case Laws Income Tax

Non granting benefit u/s. 11 and u/s 10(23C) - there is neither any registration u/s. 12AA nor is there any evidence to support the case of the assessee that the......
January 5, 2013 Case Laws Income Tax

Unexplained investment in immoveable properties - onus lies on the department to prove that some consideration over and above the consideration stated in the sale deed......
January 5, 2013 Case Laws VAT and Sales Tax

Rejection of application for refund as it was time barred - applicants are guided by their advice; if that is defective, they cannot be deprived of the remedy. - HC
January 3, 2013 Case Laws Central Excise

Excise duty payable on fresh mushrooms - The fact that fresh mushrooms classified in the general category under heading 07.02 of the Central Excise Tariff prior to the......
January 3, 2013 Case Laws Income Tax

Approval u/s 10(23)(C) - the petitioner has not rendered its services directly to the farmers but is rendering its services directly to its clients/agents who are......
January 3, 2013 Case Laws Income Tax

Deduction u/s 80-I - amalgamation does not come within the scope of 'transfer' as defined in Section 2(47), there is no question of holding that the assessee disentitles....
January 3, 2013 Case Laws Income Tax

Exemption u/s 54F - failure to comply with the conditions - As in the present case the assessee has voluntarily filed return declaring capital gain in AY 2011-12,......
January 3, 2013 Case Laws Income Tax

Depreciation on the revalued assets - Tribunal did not commit any error in law in allowing the depreciation on the revaluation reserve, which is a prescribed and......
January 3, 2013 Case Laws Companies Law

Dishonour of cheque - prosecution u/s 138 - in present case no substantial reasons are made out to interfere with the order of acquittal recorded in favour of the......
January 3, 2013 Case Laws Companies Law

Joint venture - Concept of bona fide dispute - Winding up petition - Any unsecured claim as soon as it is secured, would debar a winding up proceeding being brought by......
January 2, 2013 Notifications Income Tax

Section 197A of the income-tax Act, 1961 - No TDS if payment is made to a bank listed in the Second Schedule to the Reserve Bank of India Act, 1934 - Notification
January 2, 2013 Case Laws Central Excise

Cenvat credit on tyres - As nothing in the definition of "capital goods" or "inputs" provides for explicitly excluding tyres from either of the definitions. - the goods.....
January 2, 2013 Case Laws Central Excise

Captive consumption - marketability - Jute backed Floor Coverings - non-woven fabric which is cleared in market is different from the fabric which is captively consumed....
January 2, 2013 Case Laws Service Tax

Imposition of penalty u/s 78 - if the appellant have paid the service tax they are entitled to take credit of the same, it cannot be said that by suppressing the fact......
January 2, 2013 Case Laws Income Tax

Interest u/s.139 (8) – Rectification of order u/s 154 - the word 'month' is to be taken to mean a period of 30 days - The mistake was obvious and apparent and was......
January 2, 2013 Case Laws Income Tax

TP - ALP - The use of the word "shall" in the main provision of the Rule makes it abundantly clear that the use of data of the current financial year (i.e. of the......
January 2, 2013 Case Laws Income Tax

Loss on written down value of fixed assets - Tribunal allowing the claim of bad debt does not speaks about the core issue that how there exists an element of bad debt in....
January 2, 2013 Case Laws Income Tax

Deemed dividend u/s 2(22)(e) - accumulated profits would mean profit in the commercial sense and not assessable taxable profits - share premium account would not partake....
January 2, 2013 Case Laws Income Tax

Exemption u/s 10B - The total turnover carried on by the assessee need not necessarily be confined to export sales or local sales, but would also include the job work......
January 2, 2013 Case Laws Income Tax

Depreciation - Capital subsidy – According to Explanation 10 and proviso to sub-section (1) of Section 43, the subsidy amount shall be deducted in the actual cost of......
January 2, 2013 Case Laws Income Tax

Deduction u/s 10A – Export proceeds not received within six month – Draft misplace by bank - AO to re-compute deduction under section 10A by including the said......

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