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Highlights / Annotations / Catch Notes For November of 2012

Home Highlights November November 2012 Year 2012

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Showing 151 to 200 of 200 Records

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November 8, 2012 Notifications Income Tax

Amendment in Notification No. SO 1605(E), Dated 2-7-2008 - Deductions - In Respect of Profits and Gains From Industrial Undertakings, Or Enterprises Engaged In......
November 8, 2012 Notifications Income Tax

Amendment In Notification No.SO 1605(E), Dated 2-7-2008 - Deductions - In Respect of Profits And Gains From Industrial Undertakings, Or Enterprises Engaged In......
November 8, 2012 Case Laws Income Tax

Carbon Credits (Certified Emission Reductions) - It is not liable for tax for the assessment year under consideration in terms of sections 2(24), 28, 45 and 56 of the......
November 8, 2012 Case Laws Income Tax

Revision u/s 263 - The order of assessment, no doubt does not contain a detailed discussion on this aspect, but that however would not render the order as erroneous - AT
November 8, 2012 Case Laws Income Tax

Exemption u/s 80G of the Income-tax Act – CIT without issuing any such notice has withdrawn approval - renewal of exemption u/s 80G(5)(vi) cannot be denied to the......
November 7, 2012 Circulars FEMA

External Commercial Borrowings (ECB) Policy – ECB by Small Industries Development Bank of India (SIDBI) - Circular
November 7, 2012 Circulars Companies Law

Appointment of Cost Auditor by Companies - Circular
November 7, 2012 Circulars Companies Law

Examination of Balance Sheets by RoCs - Circular
November 7, 2012 Case Laws Income Tax

TDS u/s 194-I or 194J - Amount paid towards Rent and amenities would not fall in the category of Fee for technical services - AT
November 7, 2012 Case Laws Income Tax

Since sections 10AA and 80IAB are 'deduction provisions' and not 'exemption provisions', the investment or expenses incurred to earn income from SEZ do not merit......
November 6, 2012 Case Laws Central Excise

Reversal of cenvat credit - clearance of capital goods i.e. old and used forged hammer - not required to reverse if removed after the ten years of its use in his factory premises - AT
November 6, 2012 Case Laws Income Tax

Liability of directors of private company in liquidation - Section 179 v/s 156 - Nothing came to be stated by him regarding the gross negligence on part of the......
November 6, 2012 Case Laws Income Tax

Excise Duty refund is to be treated as ‘capital receipt’ in the hands of the assessee and not liable to be taxed. - AT
November 6, 2012 Case Laws Income Tax

Denial of Refund of excess tax deducted by source - Revenue directed to refund the excess amount with simple interest at the rate of 9% - HC
November 6, 2012 Case Laws Income Tax

TP - ALP - RPM (resale price method) is one of the standard method and OECD guidelines also states that in case of distribution and marketing activities when the goods......
November 6, 2012 Case Laws Income Tax

Renewal of exemption u/s 80G(5)(vi) - existing approval shall be deemed to have been extended in perpetuity unless specifically withdrawn, after expiry - AT
November 5, 2012 Notifications FEMA

FEMA (Transfer or Issue Of Security By A Person Resident Outside India) - Sixth Amendment – Amendment In Regulations 2, 5, 10, 12 And Schedules 1, 2, 5, 6 & 7 - Notification
November 5, 2012 Circulars Companies Law

Default by the Cost Auditors in filing Form 23D against the corresponding Form 23C. - Circular
November 5, 2012 Case Laws Central Excise

Refund claim - same duty paid twice - period of limitation u/s 11AB not applicable - refund allowed with interest even after one year - HC
November 5, 2012 Case Laws Income Tax

In view of the actual disallowance u/s 40(a)(i) for non TDS, the same amount cannot be subject to provisions of section 194C to 194J - No demand u/s 201 and no Interest.....
November 5, 2012 Case Laws Income Tax

Validity of revised returns u/s 139(5) - condition no. (ii) of sec. 139(5) - AO and CIT(A) was not justified in bringing to tax such hypothetical income in the hands of.....
November 5, 2012 Case Laws Income Tax

Sec.14A is applicable only in respect of “expenditure incurred” in respect of income which is not includible in total income and does not deal with the losses. Losses......
November 5, 2012 Case Laws Income Tax

Retail trade u/s 44AF - Income below the rate of 5% as prescribed u/s 44AF - Since the assessee maintained books of account duly audited u/s.44AB, there is no scope for.....
November 5, 2012 Case Laws Income Tax

Deduction u/s 80-O – if the services are rendered by assessee from India, the mere fact that foreign enterprises has utilized these services in India would not......
November 3, 2012 Case Laws Central Excise

Benefit of Notification - manufacture of Ready Mix Concrete (RMC) - Merely because the RMC has been transported from the Batching Plant installed at the site to various....
November 3, 2012 Case Laws Income Tax

Deduction u/s 80P(2)(i) - the cooperative credit society is not a co-operative bank. - it is not excluded from the benefit of deduction u/s 8OP(2)(a)(i) - AT
November 3, 2012 Case Laws Income Tax

Deduction u/s 80 IB - Central Excise Duty refund & interest subsidy - held as Capital receipt - AT
November 3, 2012 Case Laws Income Tax

Deemed income u/s 56(2)(vi) - interest free unsecured loan - amount was received from HUF and was recorded in the balance sheet as liability of unsecured loan - No addition - AT
November 3, 2012 Case Laws Income Tax

Sale of diamonds and sale of jewellery / gold - capital loss and capital gain It is an attempt to create capital without paying any tax, it is not a genuine claim. - HC
November 2, 2012 Case Laws Customs

Transaction value - Related person – The interpretation given by the original authority would amount to re-writing of Rule 2(2)(iv) to read that if the supplier has more....
November 2, 2012 Case Laws Customs

Undervaluation – import of old and used machinery – enhancement of value – Old and used machinery is inherently prone to undervaluation - Adjudicating authority......
November 2, 2012 Case Laws Service Tax

Benefit of abatement under Ntf. No. 12/03-ST - Mandap Keeper service - food items have been supplied under separate invoices and have discharged the sale tax liability.....
November 2, 2012 Case Laws Service Tax

Refund claim – SEZ unit - approval list - refund allowed in respect of services of Scientific and Technical Services - AT
November 2, 2012 Case Laws Central Excise

Refund of duty paid under protest – unjust enrichment is not applicable where amount deposited under protest - AT
November 2, 2012 Case Laws Central Excise

Turnkey project - manufacturing plant and supply of plant and machinery in addition to erecting the plant at the work site - inclusion of travelling expenses from the......
November 2, 2012 Case Laws Central Excise

Cenvat credit – Inputs used in trial productions or destructive testing or trial production also are eligible for Cenvat credit. - AT
November 2, 2012 Case Laws Central Excise

Manufacturing of Goods at Unregistered places - penalty is reduced to Rs.10,000/- barring that entire order of the ld. Commissioner set aside - AT
November 2, 2012 Case Laws Income Tax

IT - Sec. 40A(2) - increase in remuneration to Directors - when CLB had approved the remuneration it could not be said that the expenditure was excessive or unreasonable - AT
November 1, 2012 Notifications Income Tax

Extend of time limit for filing of ITR-V forms for A.Y. 2010-11 and A.Y. 2011-12 - Within a period of 120 days from the date of uploading of the electronic return data - Notification
November 1, 2012 News Indian Laws

Extend of time limit for filing of ITR-V forms for A.Y. 2010-11 and A.Y. 2011-12 - Within a period of 120 days from the date of uploading of the electronic return data
November 1, 2012 Case Laws Customs

The effect of retrospective legislation is that Notification No. 40/2006-Cus., dated 1-5-2006 never prohibited rebate on export of goods under DFIA Scheme, if the Cenvat....
November 1, 2012 Case Laws Indian Laws

Arbitration and Conciliation Act, 1996 - procedure for appointment of arbitrator and the actual appointment of the arbitrator - order of high court set aside - SC
November 1, 2012 Case Laws Indian Laws

Termination of tenancy rights - The concrete slab was a permanent feature - constituted a ground for his eviction in terms of Section 13(1)(b) of the West Bengal......
November 1, 2012 Case Laws Central Excise

SSI Exemption - Whether branded goods should be clubbed with unbranded goods for the purpose ssi exemption - held no - AT
November 1, 2012 Case Laws Income Tax

Capital gain - conversion of the firm into company - exemption u/s 47(xiii) applies only to a case of transfer by sale, but there is no authority for capital gain at all....
November 1, 2012 Case Laws Income Tax

Insurance business - AO wants to tax the amount which is after taking into account the transfer of assets by way of fresh capital from shareholder’s account. This in a......
November 1, 2012 Case Laws Income Tax

Presumption as to assets, books of account, etc u/s 292C - ITAT decided that seized documents alone were not sufficient to draw any definite conclusion regarding the......
November 1, 2012 Case Laws Income Tax

Penalty u/s. 271(1)(c) - Claim of any expenditure has to be proved with corroborative evidence - Entries in the books of accounts or auditors reports or Board of......
November 1, 2012 Case Laws Income Tax

Addition u/s 68 - share application money – undated confirmations and affidavits obtained by the assessee when pay orders were received from these entities. - parties......
November 1, 2012 Case Laws Income Tax

ALP - TPO has no authority to disallow the entire expenditure or a part thereof on the ground that the assessee has suffered continuous losses - but reasonableness of......

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