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Highlights / Annotations / Catch Notes For October of 2012

Home Highlights October October 2012 Year 2012

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Showing 151 to 200 of 291 Records

October 16, 2012 Case Laws Income Tax

Capital or revenue expenditure - payment of custom duty for de bonding increases value of the asset and it is required to be added to the costs or written down value - AT
October 16, 2012 Case Laws Income Tax

There are no words of limitation in section 11 of the Income-tax Act requiring that the income should have been applied for charitable or religious purposes only in the.....
October 16, 2012 Case Laws Income Tax

Aggrieved party - right to appeal - CIT(A) dismissed the appeals by the directors as 'not maintainable - no order u/s 179 of the Act has been passed. - appeals not maintainable - AT
October 16, 2012 Case Laws Income Tax

Whether notice under Section 158 BC cannot be treated as invalid in view of the provisions as contained in section 292B of the Act – section 292B has no application - HC
October 16, 2012 Case Laws Income Tax

Deduction u/s 80-IA/IB - manuscripts edited and formatted into desired pages and also certain drawings are also scanned and redrawn by using computer. - no manufacture.....
October 16, 2012 Case Laws VAT and Sales Tax

Ujala Supreme - rate of VAT - 4% OR 12.5% - highly diluted form of Acid Violate Paste (AVP) - it retains the essential characteristics of AVP - taxable @ 4% - HC
October 16, 2012 Circulars DGFT

Trade in Border Haats across the border at Meghalaya between Bangladesh and India. - Public Notice
October 16, 2012 Notifications Customs

Amends Notification No. 36/2001-Customs (N.T.), dated the 3rd August, 2001 - Palm oil, Palmolein, Soyabean Oil (Crude) and Brass Scrap (all grades) - Traiff Values - Notification
October 15, 2012 Notifications Service Tax

Extension of time to file return in Form ST3 - 1st April 2012 to 30th June 2012, from 25th October, 2012 to 25th November,2012. - Notification
October 15, 2012 Case Laws Income Tax

The decision of the High Court or the Hon’ble Supreme Court rendered prior to or even subsequent to the order, will constitute mistake apparent from the record within......
October 15, 2012 Case Laws Income Tax

Salary income of the assessee on which he had been subjected to deduction of tax at source, cannot be categorised as “undisclosed income” as defined in section 158BB - HC
October 15, 2012 Case Laws Income Tax

Payments made in excess of Rs.20,000/- in cash was not a justifiable reason for deleting the disallowance under Section 40A(3) of the Act as payment is made to associate concern. - AT
October 15, 2012 Case Laws Income Tax

Charitable purpose - registration u/s 12A - The shortcomings by themselves cannot be put on par with lack of genuineness of the Society - HC
October 13, 2012 Case Laws Central Excise

No accounting of non cenvatable goods – there is no provision for maintaining account of non-cenvatable inputs in the Central Excise Rules - no penalty - AT
October 13, 2012 Case Laws Central Excise

Demand of duty - cross examination - matter set aside and restored to adjudicating authority for de novo adjudication after permitting the cross objection - AT
October 13, 2012 Case Laws Central Excise

Fixation of brand rate of drawback – availment of duty exemption was mandatory in terms of Section 5A (1A) of the Central Excise Act, 1944 - application rightly rejected - CGOVT
October 13, 2012 Case Laws Service Tax

Assessee is getting the branded alcoholic beverages manufactured from different contract bottling units on contracts basis is Franchisee service and not Management......
October 13, 2012 Case Laws Customs

Import of hazardous waste - importers directed to send back the imports to the countries of origin at their own cost and expenditure immediately - importers are granted.....
October 13, 2012 Case Laws Income Tax

Reopening of assessment u/s 147 - the claim of the assessee has been accepted treating the amount incurred on wooden shuttering and centering, revenue in nature - AT
October 13, 2012 Case Laws Income Tax

Penalty u/s 271(1)(c) - surrender was not voluntary - assessee failed to explain the difference between the assessed income and returned income - penalty confirmed - AT
October 13, 2012 Case Laws Income Tax

Conversion of asset into stock-in-trade - no error in applying Section 45(2) and by adopting a notional value for land as on 1.4.1974 for stamp duty for working out......
October 13, 2012 Case Laws Income Tax

Loan treated as deemed dividend u/s 2 (22) (e)r.w.s. 56 (2) (i) - A deeming provision can also be subject to rebuttal. In the present case from the finding of fact such.....
October 13, 2012 Case Laws Income Tax

Depreciation on P&M claim at lessor rate than eligible – Assessee wrongly claim depreciation at lessor rate in 3CD - As per the provision of sec. 32(1) & 32 (1) (i)......
October 13, 2012 Case Laws Income Tax

Penalty levied u/s 271(1)(c) – The penalty, if any, can be levied in the hands of the person to whom the income actually belongs and not to the assessee in whose hands......
October 13, 2012 Case Laws Income Tax

Condoned the delay in filing of Appeal with CIT – Delay of 458 days – by taking a pedantic and hyper-technical view of the matter the explanation furnished should not be....
October 13, 2012 Case Laws Income Tax

Treatment of building as plant - when it is found as a fact that the building has been so planned and constructed as to serve the assessee’s special technical......
October 13, 2012 Circulars FEMA

Foreign Exchange Management (Deposit) Regulations, 2000-Loans to Non Residents / third parties against security of Non Resident (External) Rupee Accounts [NR (E) RA] /......
October 13, 2012 Circulars FEMA

Uploading of Reports in 'Test Mode' on FINnet Gateway Test Their Ability to Upload the report electronically. Authorised Persons (Indian Agents) are also required to......
October 13, 2012 Circulars FEMA

Uploading of Reports in 'Test Mode' on FINnet Gateway - Circular
October 13, 2012 Notifications Companies Law

Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Amendment Rules, 2012 - Notification
October 13, 2012 Case Laws Central Excise

Since no appeal was preferred against the order passed by the Tribunal in one case and the same has become final, the Department is not entitled to raise the same point.....
October 12, 2012 Case Laws Service Tax

Import of services - SCN dated 21.10.2011 relates to the period 18.4.2006 onwards on the services under Section 65(55b) of the Finance Act, 1994 - against assessee - HC
October 12, 2012 Case Laws Service Tax

Cenvat Credit - there is no provision in CENVAT Credit Rules, 2004, for segregation of input services utilized in manufacture or to provide output service. - AT
October 12, 2012 Case Laws Service Tax

Erection Commissioning and Installation – - no merit in the argument of the appellants that they were only an intermediary and not doing the work themselves and hence......
October 12, 2012 Case Laws Income Tax

Court has right to frame new or additional substantial question of law at the stage of hearing in pursuance to power conferred by the proviso of Sub- Section 4 of Section 260A - HC
October 12, 2012 Case Laws Income Tax

Rectification u/s 254(2) by ITAT - The parameters of powers for correction of mistake and for review are separate and distinct. These have to be exercised in accordance.....
October 12, 2012 Case Laws Income Tax

Capital gains on transfer of shares - sale versus agreement to sale - selection of assessment year - Tribunal committed error in law in holding that Section 2 (47) (vi).....
October 12, 2012 Case Laws Income Tax

Levy of interest under Section 234B, 234C and 220(2) - assessee contested against imposition of interest as 30 days time had not expired - appellant cannot take benefit.....
October 12, 2012 Case Laws Income Tax

The Tribunal erred in law in recalling its order on the pretext of rectifying the mistake, and permitting itself to rehear the matter as if it was exercising the power......
October 12, 2012 Case Laws Income Tax

Capital Gain in lieu of surrender the right to lift the water from well filled for widening of road. - Sec. 45(1) r.w.s. 48(1) are not applicable - AT
October 12, 2012 Case Laws Income Tax

Deposit U/s 269SS – Share application money receive in cash - assessee is under bonafide belief that the amounts could have been accepted by cash. - penalty levied u/s......
October 12, 2012 Case Laws Wealth-tax

Receipts are to be treated as Asset as on the valuation date and are not be treated as Incomet - HC
October 12, 2012 Notifications Central Excise

Extension of the notification benefit to DVD ROMs along the lines of CD ROMs under Notification no. 12/2012-Central Excise, dated the 17th March, 2012 - Notification
October 12, 2012 News Indian Laws

Analysis of e-filed returns filed in the current Financial Year reveals that nearly 29,000 taxpayers - Tax payable was in excess of Rs. 50,000, have defaulted on the......
October 12, 2012 News Indian Laws

Migration of PAN lying in Orphan Jurisdiction to the Jurisdictional AOs by Nodal officers appointed under CsIT(CO)
October 12, 2012 Circulars DGFT

Certification of various documents by Cost Accountants under Handbook of Procedure Vol.I and Appendices under Foreign Trade Policy. - Public Notice
October 12, 2012 Circulars DGFT

Introduction of electronic Bank Realization Certificate (e-BRC) system. - Circular
October 11, 2012 Notifications DGFT

Effect of Notification No. 7 (RE – 2012)/2009-2014 dated 23.7.2012 - Incorporated the changes in the descriptions of tariff lines in Chapters 24, 26, 74, 75, 76, 78 and.....
October 11, 2012 Notifications Customs

Corrigendum Notification No. 93/2012 - Customs (N.T.), dated 09/10/2012 - Notification
October 11, 2012 Notifications Customs

Appointment of Common Adjudicating Authority - In The Case of M/s Nitco Ltd., Worli, Mumbai - Notification

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