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Highlights / Annotations / Catch Notes For November of 2013

Home Highlights November November 2013 Year 2013

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Showing 601 to 650 of 738 Records

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November 6, 2013 Case Laws Income Tax

Claim for deduction of security deposit with government, written off - bad debts - One cannot accept that the Government has failed to refund any sum legitimately......
November 6, 2013 Case Laws Income Tax

Since the disclosure made during the survey is on account of business income, the same cannot be excluded for applying section 40(b) to compute allowable deduction in......
November 6, 2013 Case Laws Income Tax

Estimation of extra consumption by the Company - suppression of production and sale - There being no mistake in the order of the CIT(A), on this issue and his estimate.....
November 6, 2013 Case Laws Income Tax

Addition made in the earlier years will be available for investment in the current year. The department has not produced any proof regarding utilisation of that amount......
November 6, 2013 Case Laws Income Tax

Writing off of scrips of shares held by him as stock – Business loss - the assessee discharged the primary onus and it is for the revenue to rebut the same - claim allowed - AT
November 6, 2013 Case Laws Income Tax

Addition on account of section 68 - Unexplained sundry creditors - adoption of 1% Net profit on the turnover for various assessment years will be reasonable and will......
November 5, 2013 Case Laws Central Excise

The order passed by the CESTAT in terms of Section 35F of the Central Excise Act, 1944 or Section 129-E of the Customs Act, 1962 is appealable in terms of Section 35G of....
November 5, 2013 Case Laws Central Excise

Reversal of CENVAT Credit – the procedure adopted by the appellant is also in accordance with law since during the relevant time if the inputs are cleared as such, the.....
November 5, 2013 Case Laws Central Excise

Cenvat credit availed by the appellant on the dated expired goods is in violation of the provisions of Central Excise Rules, 2002 - prima facie case is against the......
November 5, 2013 Case Laws Central Excise

Adjustment of excess duty paid with short payment of duty in case of stock transfer - Prima facie, there is no reason why the excess duty paid should not be adjusted for....
November 5, 2013 Case Laws Central Excise

SSI Exemption – Cenvat Credit of duty on Inputs lying in stock -When the Appellants case is covered by the provisions of Rule 11(2) of CENVAT Credit Rules, and the......
November 5, 2013 Case Laws Service Tax

Wrong Utilization of Cenvat credit – On payment of such service tax in cash, the credit utilized by them for payment of such service tax would be credited in their......
November 5, 2013 Case Laws Service Tax

Transfer of technical know-how – Royalty - Commissioner is right in coming to the conclusion that the services rendered does not merit classification under Consulting......
November 5, 2013 Case Laws Service Tax

C & F Agent versus as a Del Credere Agent – since the respondent-assessee was not a C&F Agent for IPCL as it was a Del Credere Agent the respondent-assessee is not......
November 5, 2013 Case Laws Service Tax

Penalty u/s 78 - Commercial training or Coaching services - the law was amended retrospectively to validate the levy of service tax on coaching and training services......
November 5, 2013 Case Laws Service Tax

Valuation - inclusion of cost of material in the value of repair and maintenance services provided during warranty period - VAT was being paid on material - notification....
November 5, 2013 Case Laws Service Tax

Refund claim - If the Board is of the view that Section 66A, is not a charging Section by itself and the charging Section remains 66, in our view, taking a holistic......
November 5, 2013 Case Laws Service Tax

Adjustment of service tax paid paid in excess - self adjustment - the adjustment is not in respect of services which are not provided rather it is by way of discounts......
November 5, 2013 Case Laws Customs

Valuation of goods i.e. Brass/Zinc hardware imported by the appellant from China - appellant submitted that in Tanya Industries [2013 (11) TMI 246 - CESTAT NEW DELHI],......
November 5, 2013 Case Laws Customs

Duty demand - Mis-declaration of MRP on bulbs imported - - Instead of explaining the position of the fraudulent stickers recovered during the course of investigation the....
November 5, 2013 Case Laws Customs

Warehousing - Applicability of Circular No. 128/95-Cus. - Applicability to private sector warehouses or public sector warehouse - In view of the clear distinction......
November 5, 2013 Case Laws Customs

Classification of goods - Function of the Debranner milling machine is beyond the scope of CTH 843710.00 and therefore it would be rightly classifiable under CTH 8437 80....
November 5, 2013 Case Laws Customs

Import of human hair - Notification No.32/97-Cus. - notification clearly defines the term “goods“ to mean that raw materials etc. as are directly related to the export......
November 5, 2013 Case Laws Income Tax

Addition on account of share deduction money - money was retained for the purpose of issuing share of the Society to such growers - not an income - not taxable - AT
November 5, 2013 Case Laws Income Tax

Deemed dividend - section 2(22)(e) - deemed shareholder - None of the conditions for invoking the provisions of section 2(22)(e) of the Act were present in the instant......
November 5, 2013 Case Laws Income Tax

Penalty u/s 271(1)(c) - CIT upheld penalty - the onus of proving and disproving keeps on shifting as the proceedings are advanced. - AT
November 5, 2013 Case Laws Income Tax

Rejection of Books of accounts - Simply because the volume of expenses have increased during the year vis-à-vis earlier year that cannot be a ground for rejecting the......
November 5, 2013 Case Laws Income Tax

Tax on salary - Salary received and taxed in U.K. - The income from salary received in India for employment exercised in UK is to be clubbed there and has been done by......
November 5, 2013 Case Laws Income Tax

Penalty u/s 271(1)(c) - Merely because the assessee claimed set off of the loss carried forward would not mean that there was concealment of income as alleged or such......
November 5, 2013 Case Laws Income Tax

TDS u/s 192 - Non deduction of TDS on uniform allowance and conveyance maintenance reimbursement expenditure (hereinafter referred to as “the CMRE“) - Non deduction of......
November 5, 2013 Case Laws Income Tax

Opening of assessment u/s 153C - no documents belonging to the assessee were found and, therefore, no assessment under sec. 153C of the Act can be framed in their cases - AT
November 5, 2013 Case Laws Income Tax

Expenditure of ESOP - Expenditure in question was wholly and exclusively for the purpose of the business of the assessee and had to be allowed as deduction as a revenue....
November 5, 2013 Case Laws Income Tax

Even if the income is treated under the head income from other sources even then the total income of the assessee would be computed after setting off losses under other.....
November 5, 2013 Case Laws Income Tax

As per section 72(2), unabsorbed business loss is to be first set off and thereafter unabsorbed depreciation treated as current years depreciation u/s 32(2) is to be set....
November 5, 2013 Case Laws Income Tax

The fact of non-provision of the reasons recorded for initiation of proceedings u/s 147 before the completion of assessment proceedings and the furnishing of the said......
November 5, 2013 Case Laws Income Tax

Renting of cinema hall (buildings) - income derived as rent from property must be computed under that specific head regardless of the fact that property had at one point....
November 5, 2013 Case Laws Income Tax

Taxability of grant in aid - funds received by the assessee from State Government and Sugar factories have been spend only for those specific projects and there was no.....
November 5, 2013 Case Laws Income Tax

There cannot be two sets of net profits: one for the general public, financial institutions, stakeholders and for distribution amongst partners and the other for......
November 5, 2013 Case Laws Income Tax

Undisclosed income - Income received from hospital - that the entries found in the crystal college book is with regard to payment made to respective doctors including......
November 5, 2013 Case Laws Income Tax

Disallowance u/s 40(a)(ia) for short deduction of tax - in case of short / lesser deduction of tax, the entire expenditure whose genuineness was not doubted by the......
November 5, 2013 Case Laws VAT and Sales Tax

Penalty u/s 15A(1)(a) of the Trade Tax Act - it is no concern of the department as to whether the purchaser had made payment of price of the goods purchased to the......
November 5, 2013 Case Laws Companies Law

Winding up - Inability to pay debts - The debt being disputed by the respondent for the reasons attributable to the petitioners namely, on account of the terms of the......
November 4, 2013 Case Laws Income Tax

Deduction u/s 80IB(4) on account of insurance claim received on loss of stock – deduction allowed u/s 80 IB - AT
November 4, 2013 Case Laws Income Tax

Penalty u/s 272A(2)(k) – since the tax deduction and payment are made by treasury and there is undisputedly no default - There arises no reason for non-filing of TDS......
November 4, 2013 Case Laws Income Tax

Deduction u/s. 80IB(10) - The meaning of “date of completion” has been given in Explanation (ii) to clause (a) to section 80IB(10) - Date of completion of construction......
November 4, 2013 Case Laws Income Tax

Nature of Lease - In substance, finance lease is a loan from the lessor to the lessee. In an operating lease, the lessor bears the risk of loss, the period is......
November 4, 2013 Case Laws Income Tax

Deduction u/s 80IA - if it was proved that, the assessee-company had obtained the status of a tenderer by virtue of a valid assignment, it should not be denied the......
November 4, 2013 Case Laws Income Tax

Disallowance of Claim of Deduction u/s. 35AB – if the claim of the assessee is within the period of six years from the year in which the expenditure was incurred and the....
November 4, 2013 Case Laws Income Tax

Indo U.S. DTAA - once the assessee was not a P.E. of VGCs, then “Force of Attraction Rule“ will not apply in terms of Article 7(1) of various DTAA. - AT
November 4, 2013 Case Laws Income Tax

Transfer Pricing Adjustment - Transfer Pricing Regulations do not contemplate taking into account future data for the purpose of bench marking - AT

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