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Highlights / Annotations / Catch Notes For October of 2012

Home Highlights October October 2012 Year 2012

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Showing 1 to 50 of 291 Records

12 3 4 5........ 6

October 31, 2012 Case Laws Central Excise

Refund of cenvat credit - Period of limitation - Rule does not specify any time limit for claiming the refund of credit - rejection of refund is not sustainable - AT
October 31, 2012 Case Laws Central Excise

Once the duty on final products has been accepted by the department, CENVAT credit availed need not be reversed even if the activity does not amount to manufacture - AT
October 31, 2012 Case Laws Central Excise

Cenvat credit allowed on capital goods received before registration - AT
October 31, 2012 Case Laws Central Excise

LTU - Cenvat credit - Revenue is trying to deny a substantial benefit for some flimsy reason - procedural flow involved is a curable defect and credit is not deniable......
October 31, 2012 Case Laws Service Tax

Cenvat credit of service tax paid on insurance policy for the power plant would be admissible - AT
October 31, 2012 Case Laws Service Tax

Refund claim of service tax - denial as Terminal Handling Charges used in respect of goods exported - refund allowed - AT
October 31, 2012 Case Laws Service Tax

Condonation of delay in filing an appeal before Commissioner (appeals) - there is no reason why the petitioner should be deprived of an opportunity to file an appeal- HC
October 31, 2012 Case Laws Customs

Interest on delayed payment of Refund – Department is solely responsible for the delayed payment, Interest of justice would be amply met if payment is made of simple......
October 31, 2012 Case Laws Customs

Classification – Personal Digital Assistant (Data Processing Machine) - Heading 84713090 is more appropriate than Heading 84798999 - AT
October 31, 2012 Case Laws Income Tax

Expenditure incurred by the assessee by purchasing of upgradation kit was to carry out precision eye surgery by using advanced technology, which was the need of the time....
October 31, 2012 Case Laws Income Tax

Denial of registration u/s.12A of the Act – Holding of conferences abroad would not make the activities of the Assessee being carried out outside India. The benefits of.....
October 31, 2012 Case Laws Income Tax

Refund u/s 237 - While there is no specific provision empowering the Income-tax Officer or the Assessing Officer to investigate such a claim, such a power is implicit......
October 31, 2012 Case Laws Income Tax

Overriding provision - Sec. 44 creates a specific exception to the applicability of ss. 28 to 43B. Therefore, the purpose, object and purview of s. 14A has no......
October 30, 2012 Case Laws Service Tax

Input service - input services used for obtaining export incentives - Professional and Liaison fees – cenvat credit allowed - AT
October 30, 2012 Case Laws Customs

Revenue department cannot claim first charge or priority in recovery over Section 529 A of the Companies Act, DRT Act and the SARFAESI Act - HC
October 30, 2012 Case Laws Central Excise

Notification issued under Rule 18 of the Central Excise Rules which prescribes no time limit alone is applicable and Section 11B of Central Excise Act which prescribes 6....
October 30, 2012 News Indian Laws

Capital Gains Accounts Scheme, 1988 as amended and Capital gain on transfer of residential property not to be charged in certain cases u/s 54GB
October 30, 2012 Articles Indian Laws

WHEHTER THE EXPENSES INCURRED FOR THE EDUCATION ABROAD FOR THE SON/DAUGHTER OF A DIRECTOR OF A COMPANY CAN BE TREATED AS BUSINESS EXPENSES - Article
October 30, 2012 Notifications Income Tax

Scientific Research Expenditure - Approved Scientific Research Associations/Institutions - National Institute Of Ocean Technology, Chennai - Notification
October 30, 2012 Notifications Income Tax

Capital Gains Accounts (First Amendment) Scheme, 2012- Amendment in paragraphs 1, 2, 3, 4, 10, 13 and Forms A, C & G - Notification
October 30, 2012 Case Laws Income Tax

Exemption u/s 54 - LTCG - assessee has demolished existing residential building before sale - benefit of exemption not available - HC
October 30, 2012 Case Laws Income Tax

Penalty u/s 158BFA(2) - merely because the part of the addition has been confirmed by the Tribunal and the assessee has not filed appeal before the Hon’ble High Court......
October 30, 2012 Case Laws Income Tax

Section 269SS did not prohibit taking of loan in cash from political party or otherwise. It simply provides mode of taking or accepting certain loans and deposits instead of cash. - AT
October 30, 2012 Case Laws Income Tax

Rectification application u/s. 154 rejected - The return is prepared electronically which is converted into an XML file through software - there is every possibility of....
October 30, 2012 Case Laws Income Tax

Jurisdiction of AO in framing assessment - The assessee’s address was obtained from the bank records in which the assessee has given address of Delhi and on the same......
October 30, 2012 Case Laws Income Tax

Interest u/s 234A, 234B and 234C - non maintenance of proper books of accounts - rejection of claim for waiver of interest cannot be said to be illegal - HC
October 30, 2012 Case Laws Income Tax

Revenue or Capital expenditure - Bank guarantee for commission paid for securing timely repayment of the deferred credit facilities for buying machinery for its running.....
October 30, 2012 Case Laws Income Tax

Interest on short payment of advance tax – failure on the part of payer to deduct TDS u/s 195(2) - no interest u/s 234B - AT
October 30, 2012 Case Laws Income Tax

Profit in Lieu of Salary - the dearness relief is 'profit in lieu of salary' and is included as an amount received by a retired judge u/s 17(3)(ii) and would be taxable as income. - HC
October 30, 2012 Case Laws Income Tax

Exemption u/s 54EA - Joint development agreement - sale of flats - The definition of net consideration does not refer that the consideration should be received in cash only. - HC
October 29, 2012 Case Laws Service Tax

Business Auxiliary Services - activities of visa facilitation and providing customer care services to the Diplomatic Mission Embassies/Consulates and the Visa applicants....
October 29, 2012 Case Laws Customs

Anti dumping duty - The term 'domestic industry', as amended, has not taken away the discretionary power of the Designated Authority - The word 'only' under Rule 2(b)......
October 29, 2012 Case Laws Income Tax

There were at the relevant time and even today no thin capitalization rules in force. Consequently, the interest payment on debt capital cannot be disallowed - HC
October 29, 2012 Case Laws Income Tax

Disallowance of loss under the head 'income from other sources' - In-genuine transaction - ITAT rejected invitation on the ground that it was not an investigating agency....
October 29, 2012 Case Laws Income Tax

Penalty u/s 271(1)(c) - cash payment u/s 40A(3) - The offer made by the assessee was on the basis that it could not give the details of the parties, and in order to buy....
October 29, 2012 Case Laws Income Tax

Penalty u/s 271-B - failure to get accounts audited - Under Section 271B there is discretion with the income tax authorities to award penalty and this discretion has to.....
October 29, 2012 Case Laws Income Tax

Transfer Pricing additions by DRP/TPO - order reveals that DRP has not applied its mind - It simply opinied that the Draft Assessment order proposed by the Assessing......
October 29, 2012 Case Laws Income Tax

Deduction u/s.80-IB(10) of the Act - Not every condition of the statute can be seen as mandatory. - If substantial compliance thereof is established on record, the......
October 29, 2012 Case Laws Income Tax

Reopening of assessment - Completion of the assessment proceedings under Section 143(3) read with 147 without issue of notice under Section 143(2) was bad in law. - HC
October 28, 2012 Case Laws Customs

EPCG Scheme - as the catalysts are separately mentioned in addition to consumables in the EPCG scheme for existing plant and also separately mentioned in the definition.....
October 28, 2012 Case Laws Customs

Penalty under Section 114(i) of the Customs Act - non-mention of Section 113 in the show-cause notice would not per se invalidate the penalty imposed under Section 114......
October 28, 2012 Case Laws Income Tax

Transfer Pricing – Arm Length Price – selection of comparables - assessee is not estopped from pointing out a mistake in the assessment. - AT
October 28, 2012 Case Laws Income Tax

Difference in stock submitted to bank and income tax department -addition based on stock statement submitted to Bank is not sustainable - AT
October 28, 2012 Case Laws Income Tax

Franchisee fees - satellite schools which are running under the name and logo of Delhi Public School - not liable to tax and additions deleted following principle of consistency - AT
October 28, 2012 Case Laws Income Tax

Payment to MCD towards registration, conversion and parking charges - revenue v/s capital - harges paid by the assessee to MCD, could not be allowed in view of......
October 28, 2012 Case Laws Income Tax

Unexplained jewellery found in the lockers - no seizeure of gold jewellery, if it is found to the extent of 500 grams and claimed to be of a married lady. - AT
October 28, 2012 Case Laws Income Tax

Compensation for delay in handing over the possession of the property - holding charges - held as capital receipt in nature - AT
October 28, 2012 Case Laws Income Tax

Penalty paid to NSE for trading violation - not in the nature of violation of law and hence cannot be termed as penalty. - deduction allowed - AT
October 28, 2012 Case Laws Income Tax

Under Section 132(4) unless the authorized officer puts a specific question with regard to the manner in which income has been derived, it is not expected from the......
October 28, 2012 Case Laws Income Tax

Tender Fees Expenses - Revenue v/s Capital - It was incurred in connection with the integral part of profit earning process and not for acquisition of any asset- held as....

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