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Highlights / Annotations / Catch Notes For November of 2017

Home Highlights November November 2017 Year 2017

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Showing 1 to 50 of 290 Records

12 3 4 5........ 6

November 30, 2017 Circulars Customs

Drawing of samples for the purpose of grant of drawback - Wherever export consignments are selected for assessment or examination, the officer of Customs not below the......
November 30, 2017 Case Laws Income Tax HC

Addition u/s 68 - The assessee has failed in establishing the creditworthiness of the donors, occasion for making the gifts and why and donors who were strangers and not....
November 30, 2017 Case Laws Income Tax HC

Assessment of Firm as AOP - in terms of section 167 the share of the members of AOP are indeterminate - In such case the whole of the income of such an AOP is to be......
November 30, 2017 Case Laws Income Tax AT

Interest u/s.244A - AO directed to re-compute the amount of interest u/s. 244A by first adjusting the amount of refund already granted towards the interest component and....
November 30, 2017 Case Laws Income Tax AT

Considering the assessee’s failure to maintain the fool-proof records on the identity of the donors, we are of the opinion that the principle of adhocism adopted by......
November 30, 2017 Case Laws Customs AT

Import of coal - coking coal or not - coal imported by appellants under 19 Bills of Entry is eligible for the benefit of exemption notification under 21/2002-Cus - AT
November 29, 2017 News GST

Exporters advised to file Table 6A and GSTR 3B for processing of IGST Refund and for Refund of the unutilized Input Tax Credit;
November 29, 2017 News Indian Laws

Article by the Union Finance Minister on ‘The Fiction of Loan Waiver to Capitalists’
November 29, 2017 News GST

Problems faced by assessees in filing of GST Returns - Presentation as submitted by the Society for Tax Analysis and Research (STAR)
November 29, 2017 Case Laws Income Tax HC

Valuation of closing stock - provisions of section 145A has overriding effect on the provisions of section 145 - the said provisions are applicable not only on closing......
November 29, 2017 Case Laws Income Tax AT

Replacement of compressor of Colling unit - Nature of expenses - Compressor is admittedly a part of unit which is replaced and it longer life or it is procured......
November 29, 2017 Case Laws Income Tax AT

Penalty u/s 271(1)(c) - Director’s remuneration - reallocation out of managerial remuneration to different units - claim of exemption u/s 80IC - at most, it was a case......
November 29, 2017 Case Laws Central Excise HC

Rebate claim - export related benefits - rule 16 of CER - Rule 16(1) and (2) may not apply for receiving duty paid biscuits in the factory for export of confectioneries.....
November 28, 2017 Case Laws Customs AT

Violation of conditions for import of goods against EPCG licnece - failure to intimate the department after installation - since the importer submitted the proof of......
November 28, 2017 Case Laws Customs HC

Proceedings to levy Anti-dumping duty - Exclusion of the party from the proceedings - the rules are clear, especially Rule 12 of the Customs Tariff Rules and there is no....
November 28, 2017 Case Laws Income Tax SC

Monetary limit for filing appeal - retrospective implementation of Instruction No.3 of 2011 dated 9.2.2011 - SC reiterate its earlier order - circular may be applied for....
November 28, 2017 Case Laws Income Tax AT

Penalty u/s 271B - determination of turnover - reasonable cause for not getting its accounts audited u/s 44AB - the belief of the assessee about the non applicability of....
November 28, 2017 Case Laws Income Tax HC

Wilful attempt to evade tax, etc. - Punishable offence - False claim of depreciation on land - the same is scrutinized, firstly, by the auditors of the company.......
November 27, 2017 Case Laws Income Tax SC

The advance deposit of central excise duty constitutes actual payment of duty within the meaning of Section 43B and, therefore, the assessee is entitled to the benefit......
November 27, 2017 Case Laws Income Tax HC

TDS u/s 195 - Since Section 40(a)(i) as it stood in AY 2006-07 continued to discriminate in the above manner and was inconsistent with Article 24(3) of the Indo Japan......
November 27, 2017 Case Laws Income Tax HC

Penalty u/s 271(1)(c) - by deferring the declaration to the subsequent year, the assessee certainly furnished inaccurate particulars of income for the year under appeal.....
November 27, 2017 Case Laws Income Tax HC

Maintainability of appeal before CIT(A) against Levy of interest u/s 220(2) - enhanced assessment - AO directed that interest u/s 220(2) chargeable on the amount......
November 27, 2017 Case Laws Income Tax HC

Preparation of the balance sheet in accordance with the statutory provision would not disentitle the assessee in submitting income tax return on the real taxable income.....
November 27, 2017 Case Laws Income Tax AT

Allowability of Provision towards licence fee for renewal of Excise licence fee - no payment has been made by the assessee to the Government till the due date of filing.....
November 27, 2017 Case Laws Income Tax AT

Distribution of capital assets u/s 45(4) - partnership firm - crediting revaluation surplus to partners account settling their accounts on their retirement - It is the......
November 27, 2017 Case Laws Service Tax AT

Outstanding consideration to be paid by Holding Company - effect of amendment - the debit entries made prior to 10.05.2008 and shown outstanding on that date cannot be......
November 27, 2017 Case Laws Central Excise SC

High Court was not correct in applying the principle of Promissory Estoppel to grant the benefit of exemption to the industrial unit from the date of production instead.....
November 25, 2017 Case Laws Income Tax AT

Genuineness of expenditure - payment is as per the registered agreement which is a sale deed and there is no requirement of any cash flow statement when payment is from.....
November 25, 2017 Case Laws Income Tax AT

Allowability of software expenses - revenue or capital expenditure - purchase of software for Website related application for LAN. - held as capital expenditure -......
November 25, 2017 Case Laws Income Tax AT

Addition u/s 69 - The serial No. of DDs and the manner in which DDs were taken to pay the license fee also held to be doubtful and the transactions cannot be held as genuine. - AT
November 25, 2017 Case Laws Income Tax AT

Allowable expenditure - Withheld price / additional price paid to the milk producers for procuring milk - AO is not correct in observing the same as tax evasion device......
November 25, 2017 Case Laws Income Tax AT

Deduction u/s 80IC cannot be denied invoking the provisions of section 80AC where the return has been filed belatedly but within permissible time u/s 139(4) - AT
November 25, 2017 Case Laws Income Tax AT

MAT - computing the book profits u/s 115JB - The depreciation to be allowed while working the book profits is always as per the Companies Act and the depreciation should....
November 25, 2017 Case Laws Income Tax HC

Reopening of assessment - the issue for taxation of entire revenue in India was not taken up by the AO during the original proceedings - notice issued u/s 148 sustained. - HC
November 25, 2017 Case Laws Income Tax HC

Disallowance of speculative loss occurred on derivative transactions - Tribunal has correctly held that there is an actual delivery and constructive delivery and they......
November 25, 2017 Case Laws Customs HC

The Department must pay interest on the sum of ₹ 10 lakhs deposited by the petitioners to the extent of delay in refunding the same - On the Bank Guarantees, we do....
November 25, 2017 Case Laws Money Laundering SC

SC declared Section 45(1) of the Prevention of Money Laundering Act, 2002, insofar as it imposes two further conditions for release on bail, to be unconstitutional as it....
November 24, 2017 Circulars Customs

Applicability of IGST / GST on goods transferred / sold while being deposited in a warehouse. -reg. - Circular
November 24, 2017 Case Laws Income Tax HC

Nature of amount received as award against damages for breach of contract - capital receipt or revenue receipt - The fundamental right for starting the bottling business....
November 24, 2017 Case Laws Income Tax AT

Disallowance of short term capital Loss - the provisions of Sec.94(4) of the Act would apply only in cases where the assessee had carried on the transactions of purchase....
November 24, 2017 Case Laws Income Tax AT

Receipt of advance - Additions u/s 56(2)(vi) - A receipt cannot be taxed merely on conjecture or surmises. - The AO needs to bring on record evidence which proves that......
November 24, 2017 Case Laws Income Tax AT

Penalty levied u/s 271G - the failure to the said extent on the part of the assessee to comply with the directions of the TPO can safely be held to be backed by a......
November 24, 2017 Case Laws Income Tax HC

Exemption u/s 10(34) availability in respect of dividend income - Merely because the assessee did not raise the claim at the time of his assessment it did not stop him......
November 24, 2017 Case Laws VAT and Sales Tax HC

The respondents having collected tax from TASMAC Limited, has not only failed to remit tax, due to the Government, in time, but also withheld the same for a considerable....
November 24, 2017 Case Laws VAT and Sales Tax HC

Interest on refunds - interest would be payable after the period specified in clause (a) to sub-section (3) to Section 38 of the Act i.e. the date on which the refund......
November 24, 2017 Case Laws Service Tax AT

Business auxiliary service - accepting foreign exchange on behalf of bank - this activity is nothing but promotion of business of bank of Punjab and also acting as an......
November 24, 2017 Case Laws Central Excise AT

Manufacture - job-work - excisability/marketibility - the appellant were only fitting some parts in the blank cabinets for various equipments, such as, battery......
November 24, 2017 Case Laws Central Excise AT

Manufacture - case of Revenue is that DTPL is to be considered the manufacturer since they have supplied the required raw materials and packing materials to job workers.....
November 24, 2017 Case Laws Central Excise AT

Clandestine removal - cross examination of witnesses - It is required for the departmental adjudicating authorities to first admit the statements in evidence in......
November 24, 2017 Case Laws Income Tax AT

Addition to salary and commission payment to directors - the revenue is unable to point out as to how the payment were excessive or unreasonable having regard to fair......

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