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Highlights / Annotations / Catch Notes For October of 2016

Home Highlights October October 2016 Year 2016

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Showing 1 to 50 of 399 Records

12 3 4 5........ 8

October 29, 2016 Case Laws Income Tax AT

The disallowance u/s. 14A read with Rule 8D should only be made with regard to investments and not with the regard to share held as stock-in-trade. - AT
October 29, 2016 Case Laws Income Tax AT

Computation of capital gains - Unless the AO possesses some evidences, demonstrating the fact that full value of the consideration disclosed by the assessee was......
October 29, 2016 Case Laws Income Tax AT

When no fresh investment has been made by the assessee during the year under assessment nor it has incurred any expenditure the question of invoking provisions contained....
October 29, 2016 Case Laws Income Tax AT

Non granting registration u/s 12A - partition of education society without seeking necessary approvals / sanctions from competent authority in terms of societies......
October 29, 2016 Case Laws Income Tax AT

TDS u/s 195 - non deduction of tds on software expenses representing reimbursement of software cost to its parent company - it cannot be held as ‘royalties’ coming into.....
October 29, 2016 Case Laws Income Tax AT

The transaction undertaken for the sale & purchase of the shares in F&O market to safeguard the loss on account of price fluctuations of the share held by the assessee......
October 29, 2016 Case Laws Income Tax AT

TDS u/s 194C - non deduction of tds on catering charges - The provisions of TDS u/s. 194C of the Act are applicable for a works on contract and they do not apply on the.....
October 29, 2016 Case Laws Central Excise AT

CENVAT credit - prior to 24.03.2011, no central excise duty was payable on coal produced in mine - taking of CENVAT credit of central excise duty, paid by the supplier,.....
October 28, 2016 Circulars FEMA

External Commercial Borrowings (ECB) by Startups - Circular
October 28, 2016 Circulars Companies Law

Relaxation of additional Fees and extension of last date of in filing AOC-4, AOC-4 (XBRL), AOC-4 (CFS) and MGT-7 e-forms under the Companies Act, 2013 till 29-11-2016
October 28, 2016 Case Laws Income Tax HC

These are two different causes of action leading to addition against the income of two different persons u/s 68 and 69. There is as such no question of any double......
October 28, 2016 Case Laws Income Tax AT

Since no material whatsoever was found in the course of search, the question of allowing additional depreciation or not could not have been subject matter of proceedings....
October 28, 2016 Case Laws Income Tax AT

Reopening of assessment - Once the alleged land was shown in the balance sheet of HUF, taxes were paid in the hands of HUF, and then how that very alleged unexplained......
October 28, 2016 Case Laws Income Tax AT

Provision for direct expenses - AO observed that expenditure actually not incurred during the year - mercantile system of accounting - construction activity -......
October 28, 2016 Case Laws Income Tax AT

Amount received from members as ‘transfer fees’ - co-operative society - assessee does not represent mutual concerns and to such activities the concept of mutuality......
October 28, 2016 Case Laws Service Tax AT

Reimbursement of expenses - Just because the Nepalese suppliers had billed the appellants separately for transportation from Nepal border to factory premises alongwith......
October 28, 2016 Case Laws Service Tax AT

Services of truck diversion agent - the main activity of the respondent is to divert the truck bearing the goods from M/s. Grasim for onward transportation as per the......
October 28, 2016 Case Laws Service Tax AT

CENVAT credit - validity of duty paying documents - Rule 9(2) of the CCR provides for such eventualities - The rule vests the jurisdictional AC/DC with the power to......
October 28, 2016 Case Laws Service Tax AT

Balance sheet of company is a publically available document and therefore, the allegation that data stated in the balance sheet was suppressed from the department is not....
October 28, 2016 Case Laws Service Tax AT

Levy of tax - imparting training in graphic animation - obligation not to share the services provided by the appellant with any other person - service of the appellant......
October 28, 2016 Case Laws Service Tax AT

Levy of service tax - mere procurement of order on behalf of overseas manufacturer is not taxable in India in the hands of the person who procures the orders and......
October 28, 2016 Case Laws Central Excise AT

Compounded levy scheme - manufacture of stainless steel pattas/pattis - failure to file the requisite declaration under the scheme - In the absence of any evidence to......
October 28, 2016 Case Laws Central Excise AT

In the light of the fact that the availment of Cenvat credit on structural items has been in dispute for a long time, allegations of suppression cannot be made against......
October 28, 2016 Case Laws Customs AT

Waiver of pre-deposit - 7.5% was deposited before filing an appeal before Commissioner (Appeals) - Now whether appellant is required to deposit entire 10% amount in......
October 28, 2016 Case Laws Customs AT

Classification of measuring or checking instruments - independent complete device which automatically inspect, count, process, stores and displaying the data - to be......
October 28, 2016 Case Laws Customs AT

Valuation of import of goods - the agreement relating to purchase of equipment cannot be disassociated from other agreements and the authorities were right in loading......
October 28, 2016 Case Laws Customs AT

Interpretation of notification - refineries and power projects - Cables were exempted from all duties of customs - import of raw material for manufacture of cables......
October 28, 2016 Case Laws Customs AT

Classification of fabric - Merely because the deponent of the statement has agreed before the Customs that the previous consignment may be of the same composition, by......
October 28, 2016 Case Laws VAT and Sales Tax HC

Withholding of Refund claim, which is already crystallised - since prima facie requirements to invoke the power to withhold the amount of refund are not available on......
October 28, 2016 Case Laws Income Tax AT

Disallowance u/s 40A(2)(b) in respect of professional fees - payment to a partnership firm whose partners are having substantial interest in the business of the assessee....
October 28, 2016 Case Laws Income Tax AT

Denial of Tax Collected at Source (TCS) credit u/s 206C(1C) - denial of credit tantamount to confiscating assessee's tax for which corresponding income is included in......
October 27, 2016 Circulars Income Tax

Where a valid return-of-income having 'claim of refund' for AY 2014-2015, 2013-2014 and 2012-2013 was filed, such returns-of-income shall now be processed by 31.03.2017
October 27, 2016 Notifications FEMA

A wholly owned subsidiary set up in India by a non-resident entity, operating in a sector where 100% FDI is allowed in the automatic route and there are no FDI linked......
October 27, 2016 Notifications FEMA

Permission to a person resident outside India to enter into exchange traded currency derivatives
October 27, 2016 Income Tax

Benami Transactions(Prohibition) Act, 1988 as amended
October 27, 2016 Notifications Income Tax

Amendment to Benami Transaction (Prohibition) Act, 1988 shall come into force w.e.f. 1.11.2016 - Notification
October 27, 2016 Notifications Income Tax

Central Government notifies the Adjudicating Authority and Appellate Tribunal for the purpose of the Prohibition of Benami Property Transactions Act, 1988 (45 of 1988).
October 27, 2016 Case Laws Income Tax AT

Penalty u/s 271(1)(1) - validity of notice - there is no mention in the SCN, whether the assessee was guilty of having “furnished inaccurate particulars of income” or of....
October 27, 2016 Case Laws Income Tax AT

Penalty u/s 271AAA - A.O has not identified which of the conditions have been violated by the assessee, that invite the levy of penalty u/s 271AAA of the Act in the case....
October 27, 2016 Case Laws Income Tax HC

Eligibility of deduction u/s 80G - it is not open to the Authorities to refuse approval by imposing conditions which are not mentioned in Section 80G of the Act. - HC
October 27, 2016 Case Laws Income Tax HC

Accrual of interest income - There is nothing on record to indicate that the borrower had refused to pay either the interest or return the loan. Therefore, on facts,......
October 27, 2016 Case Laws Income Tax AT

Addition u/s 68 - AIR information - AO before making such addition on the basis of ITS information from the office of Sub Registrar should have issued a notice u/s.......
October 27, 2016 Case Laws Income Tax AT

Revision u/s 263 - an order prejudicial and erroneous to the revenue - though the order passed by the A.O. is prejudicial to the interest of the revenue but it is not......
October 27, 2016 Case Laws Income Tax AT

Disallowance of 5% paddy purchases - once the expenditure has been accepted as genuine, there is no reason for the A.O. to doubt the same for the purpose of allowing......
October 27, 2016 Case Laws Income Tax AT

Rejection of the books - claim of expenditure on the basis of self-made vouchers - CIT(A) instead of pointing out any incidence as to how this expenditure are to be......
October 27, 2016 Case Laws Income Tax AT

Addition u/s 68 - unexplained cash credits - Share premium - the amount of share capital at ₹ 10 was not doubted. Only amount of premium was doubted - genuineness.....
October 27, 2016 Case Laws Income Tax AT

Addition u/s 68 - cash credit - genuineness and creditworthiness of creditors - Once they are alleging that they have advanced money to the assessee, then, merely on......
October 27, 2016 Case Laws Income Tax AT

Deemed dividends u/s. 2(22)(e) - loans and advances - The assessee blows hot and cold in the same breath. On the one hand it is claiming the impugned amount as share......
October 27, 2016 Case Laws Service Tax HC

Refund of service tax / cenvat credit - export of goods - Notification No. 41 of 2007 dated 6th October, 2007 - the Revenue in this case can raise a plea that the......
October 27, 2016 Case Laws Service Tax AT

Refund claim - export of services - merchant exporter of Mobile Phone - CHA services - refund denied for non-fulfilling the conditions of the notification and period of limitation - AT

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