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Highlights / Annotations / Catch Notes For February of 2012

Home Highlights February February 2012 Year 2012

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Showing 201 to 250 of 275 Records

February 8, 2012 Case Laws Income Tax

Determination of Annual Letting value (ALV) of property vacant during the year – Section 23(1)(c) – rent received or receivable from the property in question during the.....
February 8, 2012 Case Laws Income Tax

If the persons to whom the consultancy charges have been paid are registered with IRDA, then they are to be treated as payments made towards professional charges and......
February 8, 2012 Case Laws Income Tax

MAT - reduction of income from book profit - assessee has not demonstrated that as per Schedule-VI of Companies Act, the impugned income is beyond the scope of profit of....
February 8, 2012 Case Laws Income Tax

Uncashed Cheques amounting to Rs 1,97,758 - there was no claim for deduction in any of the earlier years and, therefore, the amount cannot be added under Section 41(1)......
February 8, 2012 Case Laws Income Tax

TDS u/s 194H - The Dairy may have fixed the MRP and the price at which they sell the products to the concessionaire but the products are sold and ownership vests and is.....
February 8, 2012 Case Laws Central Excise

Interest on Refund - section 11BB commences from the expiry of three months from the date of receipt of the application for refund under Section 11B(1) and not on the......
February 8, 2012 Case Laws VAT and Sales Tax

VAT / Sales tax - Transfer of document is one method and delivery may be physical also. Simply because the sales had not been effected by transfer of documents of title.....
February 8, 2012 Case Laws Income Tax

TDS on bank guarantee commission - section 194H - It is not a "commission" as understood in common parlance. Hence not liable to tax deduction and the question of......
February 8, 2012 Case Laws Income Tax

Under the deeming provision of section 9(1) read with Explanation 1(a), any business income accruing or arising to the applicant can be taxed in India only in respect of....
February 8, 2012 Case Laws Income Tax

Trading addition – Once net profit rate has been applied, no other addition is warranted in the profit & loss account.... - AT
February 8, 2012 Case Laws Income Tax

Charitable Trust – Reasons provided by CIT are subsequent event to the granting of registration. - CIT erred in not granting the registration u/s 12AA .... - AT
February 8, 2012 Case Laws Central Excise

Once there is delay in payment of service tax interest is payable. - Finding that interest is not payable is erroneous..... - HC
February 8, 2012 Case Laws Income Tax

Work Contract vs Contract for sale – purchase of product - product manufactured out of raw materials supplied by a foreign company who had direct interest in assessee......
February 8, 2012 Case Laws Income Tax

Disallowance - Advertisement and publicity expenses - merely because a third party is benefited by virtue of such expenditure, it cannot take the case out of the purview....
February 8, 2012 Case Laws Income Tax

Once it is established that tax has been deducted at source from the salary of the employee then bar under section 205 of the Act comes into operation barring Revenue......
February 8, 2012 Case Laws Income Tax

Revision u/s 263 - The assessment order is totally silent and there is no discussion as to how this dividend income was to be given the character of business income for.....
February 8, 2012 Case Laws Income Tax

A non-resident will not be liable to tax in India on any income attributable to operations confined to purchase of goods in India for export, even though the......
February 8, 2012 Case Laws Service Tax

CENVAT credit - Service of transportation of employees to the factory is admissible for credit as input service under Rule 2(1) of Cenvat Credit Rules, 2004.... - AT
February 8, 2012 Case Laws Service Tax

No service tax is payable for imparting Abacus training since recreational training is covered under the Notification No. 9/2003-ST dated 20.06.2003 and Notification No.....
February 8, 2012 Case Laws Service Tax

CENVAT credit on the service tax paid on the inputs services used at wind mill situated at Satara and credit availed at their manufacturing unit at Raigad - credit allowed..... - AT
February 8, 2012 Case Laws Central Excise

Availement of Cenvat Credit before receipt - Capital goods received on 22.12.05 credit availed in november - When the date of payment was 5th January, 2006, on this......
February 8, 2012 Case Laws Central Excise

erely because the fact of charging more freight was not being disclosed to the Revenue, by itself cannot be taken as a ground for invoking the longer period of......
February 8, 2012 Circulars FEMA

External Commercial Borrowings – Simplification of procedure. - Cir. No. 75 Dated: February 7, 2012
February 8, 2012 Circulars DGFT

Amendment in Appendix - 30 A relating to Export Obligation Period under Advance Authorization/DFIA Schemes. - Cir. No. 96 (RE-2010)/2009-2014 Dated: July 21, 2012
February 7, 2012 Case Laws Income Tax

Unexplained credits – difference in bank balance as per books of accounts vs bank balance as per bank statement treated as unexplained credit – there is no basis......
February 7, 2012 Case Laws Income Tax

Taxability of Cash compensation received – capital receipt vs Revenue receipt - Capital receipt in principle is outside the scope of income chargeable to tax. .... - AT
February 7, 2012 Case Laws Income Tax

Dis-allowance of depreciation on windmills – windmills installed & put to use on 31.03.05 – generation of electricity started in April 2005 – the claim for depreciation.....
February 7, 2012 Case Laws Income Tax

Depreciation @ 40% or 100% - transport vehicle as consisting of two parts, viz., cylinder and vehicle - entitled to claim depreciation at 100 per cent .... - HC
February 7, 2012 Case Laws Income Tax

Set off of indexed long term capital loss against non-indexed long term capital gains - the expression "similar computation" used in section 70(3) of the Act does not......
February 7, 2012 Case Laws Income Tax

Penalty - Provision of section 269SS - Cash loans - The amount taken for a short period. - It has to be considered as temporary advance - If it is a temporary advance,......
February 7, 2012 Case Laws Indian Laws

Neither the Nagar Parishad nor the Nagar Panchayat have any authority of law to levy a tax or a fee on Advertisements placed by the petitioners over the private shops or....
February 7, 2012 Case Laws Customs

Whether continued detention of goods can be justified - This period of 6 months can be enlarged by the Commissioner of Customs by a further period of 6 months, by virtue....
February 7, 2012 Case Laws Customs

Refund - recovery of duty twice from the appellant and from the customers of the appellant -In the absence of any such show cause notice to the appellant holding him as.....
February 7, 2012 Case Laws Service Tax

Clearing & Forwarding Agent or Distributor's Agreement - All the condition state that the appellant were appointed as Distributors and not C&F Agent.-... - AT
February 7, 2012 Case Laws Service Tax

Accommodation service – Section 65(105)(zzzzw) of Finance Act, 1994 - Tirumala Tirupati Devasthanams (TTD) - There is no dispute that it has been running these guest......
February 7, 2012 Case Laws Service Tax

Notification No. 01/2006-ST dated 01.03.2006 - Reversal of credit - appellants have admittedly reversed the credit along with interest - notification in question would......
February 7, 2012 Case Laws Central Excise

Central Excise Valuation - when the goods have been cleared to the customers/ultimate buyers through a consolidated invoice which includes the price of the product plus.....
February 7, 2012 Case Laws Income Tax

Revisionary powers of Commissioner u/s 263 - Order of the A.O. cannot be regarded as erroneous even if he had failed to carry out necessary verification and required......
February 7, 2012 Case Laws Income Tax

Deemed dividend- an assessee who is not a shareholder of the company, from which it received a loan or an advance cannot be treated as being covered by the definition of....
February 7, 2012 Case Laws Income Tax

Long term capital Gains – benefit of exemption u/s 10(38) - sale of unlisted securities - sale made on 29/30.12.05 by transferring it to escrow a/c - the transaction......
February 7, 2012 Case Laws Income Tax

Registration under 10(23C) -Revenue failed to show that accumulation exceeding more than 15% has exceeded the period of five years - If no profit arises from the......
February 7, 2012 Case Laws Income Tax

Book profit u/s 115JB - MAT - the profit on sale of assets credited to the profit & loss account cannot be excluded while computing the Book Profit under section 115JB......
February 7, 2012 Case Laws Service Tax

Cargo handling services - Suppression with intention to evade payment of tax cannot be alleged in this case in view of the confusion in law in this matter prevalent......
February 7, 2012 Case Laws Central Excise

Bank guarantee - Supreme Court in CCE v. Dunlop India Ltd. (1984 -TMI - 40039 - SUPREME Court) has held that the State is not run on the Bank Guarantees. Therefore, no......
February 7, 2012 Case Laws Central Excise

Refund of excess interest - when the interest was for late payment of duty, there would not be any question of unjust enactment .... - AT
February 7, 2012 Case Laws Income Tax

Set off of loss from assets on which depreciation was claimed - under section 74(1)(b) the assessee is entitled to the claim of set off of long term capital loss against....
February 7, 2012 Case Laws Income Tax

Capital Gains – Adoption of valuation made by the Stamp duty authorities as consideration - - Once the assessee claimed before the A.O. that the fair market value......
February 7, 2012 Case Laws Service Tax

Constitutional validity of levy of service tax on import of services - Does the Parliament have the powers to legislate “for“ any territory - provision does not suffer......
February 7, 2012 Case Laws Service Tax

Applicability of CAG (Duties, Powers and Conditions of Service) Act, 1971 for conduct of audit of private company - let there be an interim order directing that no......
February 7, 2012 Case Laws Service Tax

Cargo Handling Service - Transporting coal from wagons to Thermal Power Station by conveyor belt and not by any means of transportation - service rendered by Appellants.....

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