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Highlights / Annotations / Catch Notes For November of 2014

Home Highlights November November 2014 Year 2014

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Showing 151 to 200 of 302 Records

November 18, 2014 Case Laws Income Tax

Sum advanced to sister concern by cheques drawn – Unexplained investment or not - it has been rightly treated as unexplained investment in terms of Section 69B of the......
November 18, 2014 Case Laws Income Tax

Payment of expenditure in Cash - the cash deposited to the bank account of a recipient does not fall within the purview of Section 40A(3) - HC
November 18, 2014 Case Laws Income Tax

Scope and ambit of section 132(4) - Even in relation to the very block assessment, a statement referable to Section 132(4), but retracted by the person cannot constitute....
November 18, 2014 Case Laws Income Tax

Reference u/s 132(4) - the search has taken place on 25-03-1999, but the statement was recorded on 11-05-1999 - It was not even alleged that the search was carried out......
November 18, 2014 Case Laws Income Tax

Activities of the liaison office established that it was promoting the sales of the assessee in India and the AO was justified in holding that the income attributable to....
November 18, 2014 Case Laws Income Tax

Secret commission to promote business disallowed u/s 37(1) – Genuineness and quantum of deductions - matter remanded back for verificatioin - HC
November 17, 2014 Case Laws Income Tax

Whether interest u/s 234C of the Act is to be calculated based on date of clearing of the cheque or date of presentation of the cheque - Once the cheque issued by the......
November 17, 2014 Case Laws Income Tax

When the royalty for transfer of right to use of computer software does not fall under Explanation 2 to sec. 9(1)(vi), but the same falls under Explanation 4 to sec.......
November 17, 2014 Case Laws Income Tax

TDS on salary u/s 192 – Where the assessee-company has no control in granting rebate to its employees in consumption of electricity, the rebate given to the employees......
November 17, 2014 Case Laws Income Tax

Claim of deduction on business expenses incurred for earning remuneration from the firm - assessee a qualified Chartered Accountant was a partner in two firms -......
November 17, 2014 Case Laws Income Tax

Jurisdiction of CIT u/s 263 – AO is not only an adjudicator but also an investigator - AO has totally failed to make any enquiry - the invocation of section 263 by the......
November 17, 2014 Case Laws Income Tax

Imposition of penalty u/s 271(1)(c) – Since TDS was made from the payments made to the artists and amount was duly deposited with the department, merely on the ground......
November 15, 2014 Case Laws Income Tax

DTAA between India and the Swiss Confederation - Though a training activity may be connected to an engineering concern, that by itself, would not constitute training, to....
November 15, 2014 Case Laws Income Tax

Non-deduction of tax u/s 194C – The expenditures were incurred towards greeting cards, stationery, visiting cards, calendars, registers, etc - being a sale and purchase....
November 15, 2014 Case Laws Income Tax

Proceedings before the Settlement Commission get abated on 31.03.2007 and the proceedings before the AO get revived on 01.08.2007 – thus, the AO was required to pass the....
November 15, 2014 Case Laws Income Tax

Cancellation of penalty u/s 271(1)(c) - In the Directors’ Report, a passing reference only was made to indicate that its consultancy business was sold by the assessee......
November 15, 2014 Case Laws Income Tax

Claim of deduction u/s 80IB(11A) – When the assessee-corporation has set up these godowns in as many as in 73 towns and at different places in those towns, it is......
November 15, 2014 Case Laws Income Tax

Consideration received in nature of reimbursement expenses along with mark up @ 10% - “royalty” and “Fee for included services” in equal proportion – matter has not......
November 14, 2014 Case Laws Service Tax

CENVAT Credit - Commission agent's services - mere selling agent of goods cannot be equated with the agent providing sales promotion activities - credit denied - AT
November 14, 2014 Case Laws Income Tax

Requirement to deduct TDS on Interest payable on FDRs - FD is made in the name of the Registrar General - Registrar General cannot be considered as a “payee” for the......
November 14, 2014 Case Laws Income Tax

Excess rate of depreciation - energy saving devices – scope the term 'before due date' - When the time of filing the return is available to the assessee till the last......
November 14, 2014 Case Laws Income Tax

Estimation of GP - the entire cash deposits made during the year cannot be treated as income of assessee - the peak credit appearing in the bank accounts can be......
November 14, 2014 Case Laws Income Tax

Indo-US DTAA - payment made to Netherlands Company M/s. NDDO Oncology BV for conducting pre-clinical research studies - The payments made are taxable as fee for technical services. - AT
November 14, 2014 Case Laws Income Tax

Rejecting the books of accounts on this ground is not justified because the books have actually been prepared much after the close of the accounting year - the books......
November 14, 2014 Case Laws Income Tax

Since the CIT(A) allowed depreciation on roads/bridges there is no reason to interfere with the order of CIT(A) as the entire cost incurred on the project is to be......
November 14, 2014 Case Laws Income Tax

Audit report shows that record maintained by the assessee is not in proper manner as explained to them - but these defects are not sufficient to reject the books result u/s 145(3) - AT
November 14, 2014 Circulars Central Excise

Judgment of the Larger Bench of Tribunal on Aluminum dross and skimming – reg. - Order-Instruction
November 14, 2014 Case Laws Income Tax

Capital gain on sale of property in the hands of charitable society – Section 11(1A) in itself is a separate specific section which governs the overall taxability of......
November 13, 2014 Case Laws Income Tax

Allowability of exemption u/s 11 – Charitable purpose u/s 2(15) - Once the assessee is a charitable institution and duly recognised under section 12A, then income is to.....
November 13, 2014 Case Laws Income Tax

Windows Server, 2003 and Abode Photoshop software - first one is an operating system and the second one is application software - Both the softwares are also having......
November 13, 2014 Case Laws Income Tax

Such actions on the part of the income tax department not only bring disrepute to the department but also encourage the dishonest assessees and promotes the nefarious......
November 13, 2014 Case Laws Income Tax

Deduction u/s 80IB - Business of manufacturing of LED based products – Major manufacturing activity is done by the Job Worker - Further processing done by the assessee -....
November 12, 2014 Case Laws Income Tax

Classification of Bypass Toll Road – Building or Plant - the toll road would not qualify as a ‘plant’ so as to entitle the assessee a higher rate of depreciation - HC
November 12, 2014 Case Laws Income Tax

Depreciation - Merely, because the road is laid out does not mean that the Assessee is the owner thereof. He has laid it out for the purpose of the union and for its......
November 12, 2014 Case Laws Income Tax

CIT(A) has wrongly applied the provisions of section 68 in the case of the assessee by stating that the recipient society should also be in a position to identity the......
November 12, 2014 Case Laws Income Tax

Application of provisions of section 292BB – validity of notice - Since the provisions of section 292BB curtails the right of the assessee, it would operate prospectively- AT
November 12, 2014 Case Laws Income Tax

LTCG - no capital gains arises on the sale of agricultural land even though purchaser purchased the property with an intention of selling it for non-agricultural purposes - AT
November 11, 2014 Case Laws Service Tax

Import of services - in the absence of clear classification of service, appellant has made out a prima facie case - stay granted - AT
November 11, 2014 Case Laws Service Tax

Manpower Recruitment or Supply Agency Service - The appellants are actually forcing upon JBM their personnel to supervise their operations and it is not that JBM are......
November 11, 2014 Case Laws Service Tax

Banking and Other Financial Services - sharing of the commission between the Acquiring Bank and the Issuing Bank cannot be considered as service transaction but as......
November 11, 2014 Case Laws Central Excise

CENVAT Credit - Rule 3(5B) of CCR, 2004 -Valuing at lower rate is not equivalent to writing of the value of inputs in the books of account - demand set aside - AT
November 11, 2014 Case Laws Central Excise

Levy of interest on removal of goods as such - assessee has paid the duty at the end of the month i.e. much prior to the 5th day of the following month or in case where....
November 11, 2014 Case Laws Customs

Import of old and used Digital Multifunction Print and Copying Machines - Confiscation of goods - refusal of the respondents to permit the provisional release of the......
November 11, 2014 Case Laws Income Tax

Transfer u/s 2(47)(vi) – the terms of the power of attorney clearly show that property rights has not been transferred to the power of attorney holder and there is also....
November 11, 2014 Case Laws Income Tax

Entitlement for claim of deduction u/s 80IC for first year - the business of the assessee could not be said to be reconstruction of a business already in existence - it.....
November 11, 2014 Case Laws Income Tax

Non accounting of capital receipt, which is otherwise not taxable in pursuance of the provisions of the Act, may not have any immediate implication so far taxation is......
November 10, 2014 Case Laws Service Tax

Cenvat Credit - Scope of input services - Manufacturing Activity carried out by the job worker - assessee cannot avail the cenvat credit - AT
November 10, 2014 Case Laws Service Tax

Merely because there is no evidence to show that services received are from the Chartered Accountants nor there is any evidence to show that payments made by appellants.....
November 10, 2014 Case Laws Service Tax

Nature of Virtual Private Network (VPN) services - import of services - SBI India have not received “Online information and database access or retrieval” service from......
November 10, 2014 Case Laws Central Excise

100% EOU - Denial of cenat credit after debonding of the unit - amount was paid at the time of de bonding - credit should be allowed on the duty paid on the capital......

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