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Highlights / Annotations / Catch Notes For December of 2018

Home Highlights December December 2018 Year 2018

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Showing 501 to 550 of 618 Records

1 ....7 8 9 101112 13

December 6, 2018 Case Laws Income Tax

Assessee had held the shares as an investment and not as a stock in trade. The loss arising out of the sale of shares would hence be in the nature of capital loss and......
December 6, 2018 Case Laws Income Tax

Failure on the part of the assessee to file the returns voluntarily, as statutorily prescribed, would be a culpable act or omission attracting penalty under Section 271(1)(c).
December 6, 2018 Case Laws Income Tax

When the Income-tax Officer stated that full expenditure had been allowed in the year of acquisi tion of the assets, what he really meant was that the amount spent on......
December 6, 2018 Case Laws Income Tax

Assessment u/s 153A - there are contradictory findings regarding the action taken by the Revenue i.e. Survey and Search, and further in the absence of any documentary......
December 6, 2018 Case Laws Income Tax

Exemption u/s 11(1)(d) - grant received - proof of charitable activities - The grants so received by the appellant from the Government to tie utilized for specific......
December 6, 2018 Case Laws Income Tax

Disallowing the claim of capital loss incurred by the appellant due to reduction of capital by the investee company - transfer u/s 2(47) - face value of shares remains......
December 6, 2018 Case Laws Income Tax

Depreciation on intangible assets - case of conversion of partnership firm into a company - determination of WDV / cost of acquisition - As actual cost to the assessee......
December 6, 2018 Case Laws Income Tax

Set off the business losses against the capital gains u/s 71 - The assessee in the return of income did not set off the business loss against the short term capital gain....
December 6, 2018 Case Laws Income Tax

ITAT observed that, we are unable to accept the observations of the lower authorities, that the provisions of Sec. 43B would not be applicable as regards the employees......
December 6, 2018 Case Laws Income Tax

Validity of assessment order - period of limitation - CIT(A) annulled the assessment order - Settlement Commission rejected the application on the grounds that the......
December 6, 2018 Case Laws Customs

Import of Gold granules (non-monetary) - gold granules were neither imported on a consignment basis nor on a credit basis - The importer/appellant paid an advance......
December 6, 2018 Case Laws Service Tax

Cenvat Credit - subsequent amendment considering trading activity as 'exempted service' cannot entitle the assessee to avail the proportionate credit on various input......
December 6, 2018 Case Laws Service Tax

In respect of export of services, the relevant date for purposes of deciding the time limit for consideration of refund claims under Rule 5 of the CCR may be taken as......
December 6, 2018 Case Laws Service Tax

Penalty u/s 78 - failure to discharge tax - Construction services - both the authorities below have rightly imposed and upheld penalty under section 78 of the Finance Act, 1994.
December 6, 2018 Case Laws VAT and Sales Tax

Imposition of penalty - CST Act - purchase tax not paid - The assessee attempted revision of returns only after penalty proceedings were issued, which is not permissible....
December 6, 2018 Case Laws VAT and Sales Tax

The specific power granted for review to an Appellate Tribunal does not even include correction of errors apparent on the face of the record. - review is allowed only on....
December 5, 2018 Notifications Customs

Seeks to levy definitive anti-dumping duty on the imports of "Uncoated Copier Paper" originating in or exported from Indonesia, Thailand and Singapore
December 5, 2018 Circulars GST - States

Modifications to the procedure for interception of conveyances for inspection of goods in and detention, release movement, and confiscation of such goods and......
December 5, 2018 Circulars GST - States

Modification of the procedure for interception of conveyances for inspection of goods in movement, and detention, release and confiscation of such goods and conveyances,....
December 5, 2018 Circulars SEZ

Applicability of Notification No. 43/2015-20 dated 05.11.2018 to SEZ units-reg.
December 5, 2018 Case Laws Income Tax

Revision u/s 263 - capital gain earned by the assessee on sale of the shares has not been offered for the Book Profit tax under section 115JB - since no proper inquiry......
December 5, 2018 Case Laws Income Tax

Exemption u/s. 10(22) - The recipient of the income must have the character of an educational institute in India and its character outside India or it being a part of......
December 5, 2018 Case Laws Income Tax

MAT - Minimum Alternate Tax - Both the lower authorities, AO as well as CIT(A), have not considered whether, after examination by Registrar of Companies, whether......
December 5, 2018 Case Laws Income Tax

MAT computation - book profit as determined u/s. 115JB - Consideration of SEZ Income while computing book profit for the purpose of MAT - Merely because assessee has......
December 5, 2018 Case Laws Income Tax

TPA on AMP computed by the TPO using BLT - Comparison of the AMP over sales ratio of the assessee with the AMP ratio of Pepsi Co Group on a worldwide basis was nothing......
December 5, 2018 Case Laws Income Tax

Addition of “cash credit” u/s 68 - It is very unlikely that a person carrying on small chitty and financing business could raise ₹ 2, 00, 000/- as advance for......
December 5, 2018 Case Laws Income Tax

In case of unaccounted turnover, only addition of profit embedded therein can be made - in such circumstances Assessing Officer cannot take resort to Section 69 of the Act.
December 5, 2018 Case Laws Income Tax

When there is a complete stoppage of the business and the assessee is offering income from leasing from the unit as income from house property, there is no question of......
December 5, 2018 Case Laws Income Tax

Benami transactions - The existence of the “benami” transaction has to be proved by the authorities i.e. the person who alleges the transaction - The transaction where......
December 5, 2018 Case Laws Income Tax

TDS u/s 194C OR 194J - document management charges - the work assigned to the service provider was not a technical or professional work which required special skills but....
December 5, 2018 Case Laws Income Tax

TDS u/s 194C OR 194J - TDS on payment made to installation service provider - the installation services providers were given basic training to make them understand the......
December 5, 2018 Case Laws Service Tax

Rejection of Voluntary Compliance Encouragement Scheme (VCES) - The time limit for issuing notice u/s 101 of VCES will be applicable if and only if the assesse is......
December 5, 2018 Case Laws Service Tax

Extended period of limitation - Levy of penalty - Partial RCM - It cannot be said that only because audit party had found non-observance of partial reverse charge......
December 5, 2018 Case Laws Service Tax

A best judgment assessment should be based on material and data on record. It is not a tool in the hands of the Adjudicating Authority to punish the assessee. The......
December 5, 2018 Case Laws Service Tax

Demand in respect of the service provided in Jammu and Kashmir - POPOS Rules - the flights originated and terminated in J&K - Service Tax is not chargeable on the value.....
December 5, 2018 Case Laws Service Tax

Reverse charge mechanism (RCM) - non-payment of service tax - the service tax on all the above services was available as credit to the appellant, thus leading to a......
December 5, 2018 Case Laws Service Tax

Validity and scope of of SCN - Service Rendered to RBI - Cleaning Service - demand raised by invoking extended period of limitation - there is contradiction in the said.....
December 5, 2018 Case Laws Service Tax

Bundled service - construction of residential complex service is the service which gives essential character to the package of the service and, therefore, the charges......
December 5, 2018 Case Laws Service Tax

Classification of service - Works contract service or Erection Commissioning and Installation service - laying sewer pipe/sewerage system - From no stretch of......
December 5, 2018 Case Laws Service Tax

Benefit of abatement - benefit of abatement denied on the ground that CENVAT Credit availed - reversal of credit satisfies the requirement of non availment of credit......
December 5, 2018 Case Laws Central Excise

Appeal by PSU - Even when there was no COD clearance granted, the Tribunal had no jurisdiction and authority under the law to dismiss the appeal for want of COD and then....
December 5, 2018 Case Laws Central Excise

Extended period of limitation - Liability to discharge duty by the job worker - the issue of liability to discharge duty on the processed goods by the job worker when......
December 5, 2018 Case Laws Central Excise

Cenvat Credit - Clandestine removal - excess use of inputs - there are no justifiable reasons to deny the credit to the appellant merely on the basis of the input output ratio
December 5, 2018 Case Laws VAT and Sales Tax

Jurisdiction - Scope of Inter-state sales - the incidence of Central Sales Tax or even sale of goods, occurs where the goods are appropriated to the contract. In this......
December 5, 2018 Case Laws VAT and Sales Tax

Levy of penalty - illegal transportation of goods - Trite it is that in construing provisions designed to prevent tax evasion, if the legislature uses words of......
December 4, 2018 Notifications Companies Law

Companies (cost records and audit) Amendment Rules, 2018
December 4, 2018 Circulars DGFT

Amendments in the Appendix 3B, Table 2 of the Merchandise Exports from India Scheme (MEIS)
December 4, 2018 Circulars Customs

Procedure for movement of goods under TIR Carnets-reg.
December 4, 2018 Circulars GST - States

Clarifications of issues under GST related to casual taxable person and recovery of excess Input Tax Credit distributed by an Input Service distributor.
December 4, 2018 Circulars GST - States

Processing of Applications for Cancellation of Registration submitted in FORM GST REG-16

1 ....7 8 9 101112 13

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H: Sale-purchase loss disallowed unreasonably by tax officer, commercial ...

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H: Exemption from Social Welfare Surcharge on duty-free imports via scrips.

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A: Director Identification Number

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