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Highlights / Annotations / Catch Notes For November of 2014

Home Highlights November November 2014 Year 2014

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Showing 251 to 300 of 302 Records

1 ....2 3 4 567

November 5, 2014 Case Laws Customs

Valuation of goods - Mere doubt, without any reason or rhyme cannot be made the basis for rejection of the transaction value, without any reasonable and justifiable evidence - AT
November 5, 2014 Case Laws Income Tax

Taxation of capital gains - SA/GPA/WILL transactions are not “transfers” or “sales” and that such transactions cannot be treated as completed transfers or conveyances -.....
November 5, 2014 Case Laws Income Tax

Director’s Remuneration disallowed – Exceptionally high remuneration paid - the increase in Directors’ remuneration to about 9 times cannot be justified on the basis of.....
November 5, 2014 Case Laws Income Tax

Mandatory provisions u/s 250 complied or not – Tribunal ought to have restored the proceedings back to the file of the CIT(A) instead of restoring the original order......
November 5, 2014 Case Laws Income Tax

If at the commencement of the society, its objects are for educational purposes and its investment in the land was not considered as unexplained investment and treated......
November 5, 2014 Case Laws Income Tax

Payment of legal fees and expenses towards defending in a criminal prosecution not allowable as business expenditure because the same was not expended wholly and......
November 5, 2014 Case Laws Income Tax

Validity of corrigendum issued to the order passed u/s 144C - TPO instead of passing a provisional order or a draft assessment order, has passed a final order - ......
November 5, 2014 Case Laws Income Tax

Section 145 of the I.T. Act, 1961 - mere rejection of, or some deficiency in, the books of account would not mean that it must necessarily lead to additions to the sustained income - AT
November 5, 2014 Case Laws Income Tax

Sale transaction of land - unsigned agreement being in the possession of the seller viz., the assessee would not amount to “dumb document“ - addition towards......
November 4, 2014 Case Laws Service Tax

Contract to supply drilling rigs to ONGC - Drilling rigs hired by assessee - Supply of Tangible Goods for Use service - demand confirmed with interest but penalty waived - AT
November 4, 2014 Case Laws Service Tax

Waiver of pre deposit - renting versus lease premium - The premium is a one time lump sum payment whereas the lease comes into effect and as an interest created in the......
November 4, 2014 Case Laws Central Excise

CENVAT Credit - future manufacturing - appellant is eligible to avail CENVAT Credit of the Service Tax paid on technical inspection and certification charges as also the....
November 4, 2014 Case Laws Central Excise

Valuation of goods - inclusion in the assessable value of the expenses incurred on ‘advertisement and publicity’, ‘incentive and discount to dealers’ and vehicle and......
November 4, 2014 Case Laws Central Excise

Valuation of goods - revenue is of the view that tiles have been cleared to industrial or institutional consumers, they are not required to discharge Central Excise duty....
November 4, 2014 Case Laws Central Excise

CENVAT Credit - distribution of cenvat credit by ISD - credit related to exempted goods - demand confirmed with interest and penalty - AT
November 4, 2014 Case Laws Central Excise

Classification of ‘Knitted Fibres Shed Net’ - the ‘Knitted Fabrics Shed Nets’ manufactured by appellant will be appropriately classifiable under Chapter 60 of the......
November 4, 2014 Case Laws Customs

Misdeclaration of goods - goods in question were allowed to be cleared for export without furnishing any bond - In these circumstances, although the goods are liable for....
November 4, 2014 Case Laws VAT and Sales Tax

Undervaluation under Orissa VAT - sale of good quality goods as scrap - Release of confiscated goods - only on payment of the penalty imposed under subsection (5) in......
November 4, 2014 Case Laws Central Excise

Levy of interest on reversal of CENVAT Credit - Credit taken but not utilized till reversal - subsequent amendment has given befitting answer to all doubts existed......
November 4, 2014 Case Laws Income Tax

The assessee has mentioned that US Head office is a firm and not a company even in the US tax status, therefore, the assessee should be given the status of individual......
November 4, 2014 Case Laws Income Tax

Diversion by overriding title in respect of infrastructure contribution untenable or not – the 'infrastructure funds' as a separate entity, independent of assessee is a.....
November 4, 2014 Case Laws Income Tax

Disallowance u/s 40A(2)(a) – Professional fees paid to the subsidiary company - three situations, warranting disallowance u/s 40A(2), are joined by the word ‘or’ and are....
November 4, 2014 Case Laws Income Tax

Validity of order u/s 263 – revenue is not vested with any power u/s 263 to initiate proceedings for revision in every case and start re-examination and fresh enquiries.....
November 4, 2014 Case Laws Income Tax

Taxability of advance against depreciation (AAD) – Advance against depreciation is reserve or not for computation of MAT u/s 115JB - Held No - AT
November 4, 2014 Case Laws Income Tax

A reassessment may be compelted at any time where the reassessment is made in consequence or to give effect to any finding/direction of an order passed u/s 254(1) - AT
November 3, 2014 Case Laws Service Tax

Renting of immovable property - Appellant only acted as a pure agent - it cannot be said that appellants have rented out the immovable property but it is the co-owners......
November 3, 2014 Case Laws Central Excise

CENVAT Credit - assessee is entitled to take the CENVAT credit of services referred in Rule 6(5) of CENVAT Credit Rules, 2004 for whole of the credit attributable to......
November 3, 2014 Case Laws Central Excise

Clandestine manufacture and clearance of excisable goods - the case is not merely made on the basis of few confessional statements but also on the basis of private note.....
November 3, 2014 Case Laws Customs

Confiscation of goods - without a clear finding that the goods are antiques goods cannot be confiscated under the provisions of Section 113(d) of the Customs Act read......
November 3, 2014 Case Laws VAT and Sales Tax

Liability to pay the interest on differential tax - composition scheme after three years was turned down by the State of Uttar Pradesh - interest is not payable - HC
November 3, 2014 Case Laws Income Tax

Liability to pay tax on surcharge levied for delayed payment -where the income can be said not to have resulted at all, there is obviously neither accrual nor receipt of....
November 3, 2014 Case Laws Income Tax

Additions on the basis of statement - This provision embedded in sub-section (4) is obviously based on the well established rule of evidence that mere confessional......
November 3, 2014 Case Laws Income Tax

Classification of expenses – Business expenses or not - Whether the Tribunal was right in holding that the interest on borrowed funds utilised for investment in shares......
November 3, 2014 Case Laws Income Tax

Treatment of income recovered during search - The anomaly and the remedy was found in a different form, namely, to levy “penalty“, as distinguished from “tax at a higher....
November 3, 2014 Case Laws Income Tax

Jurisdiction of AO to issue notice u/s 148 – Assessee contended that notice under section 148 of the Act issued on the basis of the retracted statements is bad in law -.....
November 3, 2014 Case Laws Income Tax

Reopening of assessment u/s 148 – assessee disclosed all the material facts in the return which was under scrutiny u/s 143(3) - if the AO had doubt about the validity.....
November 3, 2014 Case Laws Income Tax

MAT - AO had committed an error in redrawing the profit and loss account by making changes by adding depreciation debited to profit and loss account by the assessee,......
November 3, 2014 Case Laws Income Tax

TDS u/s 195 - Nature of amount paid to parent company abroad on account of software expenses and engineering expenses - it was not a case of either gratuitous payment......
November 1, 2014 Case Laws Service Tax

CENVAT Credit - Extended period of limitation - assessee company was in continuous correspondence with the Superintendent of Central Excise - there was no intention to......
November 1, 2014 Case Laws Service Tax

Classification - assessee leased out their sugar factory - As the whole factory has been leased out therefore we find that this will more appropriately covered under......
November 1, 2014 Case Laws Central Excise

Distribution of credit by the Input service distributor (ISD) - distribution of proportionate credit - the allegation of suppression, fraud, collusion, wilful......
November 1, 2014 Case Laws Central Excise

Whether appellant is eligible to take CENVAT credit under Rule 3(1) of the Cenvat Credit Rules, 2004 for the entire duty paid by a 100% EOU under proviso to Section 3(1)....
November 1, 2014 Case Laws Central Excise

Transfer of CENVAT Credit - change in ownership - appellant herein had procured the assets and liabilities from M/s ARCIL, which would include the credit balance - credit allowed - AT
November 1, 2014 Case Laws Central Excise

Cenvat Credit - removal of goods after processing not amounting to manufacture - There is no dispute that the amount paid by the appellant is more than the cenvat......
November 1, 2014 Case Laws Customs

Refund of interest - Unjust enrichment - Payment of interest under protest - appellant is not required to pass bar of unjust enrichment and is entitled for refund claim.....
November 1, 2014 Case Laws Customs

Valuation of goods - The department could not show that the royalty and other charges were for the to the imported goods and they were as a condition of sale of such......
November 1, 2014 Case Laws VAT and Sales Tax

Levy of Interest from the date of filing of return or from the date of assessment - Where C form are not submitted, interest to be paid from the date of filing of return....
November 1, 2014 Case Laws Income Tax

Rejection of application of registration u/s 12AA - whether paying pension to the employees of the GCDA comes under the scope of charitable purpose or not u/s 2(15) - Held no - HC
November 1, 2014 Case Laws Income Tax

Chit funds - Claim of deduction on bad debts on running and terminated groups – bad debts can be allowed to the extent of instalments defaulted by the prized subscribers....
November 1, 2014 Case Laws Income Tax

TDS liability on transaction charges paid to stock exchange - transaction charges are concerned, the assessee was liable to deduct TDS u/s 194J - AT

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