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Highlights / Annotations / Catch Notes For February of 2015

Home Highlights February February 2015 Year 2015

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Showing 151 to 200 of 381 Records

February 18, 2015 Case Laws Service Tax

Intellectual Property service - The minimum guarantee of profit per month given or assured by the agent to the respondent have been misunderstood as 'Royalty'......
February 18, 2015 Case Laws Service Tax

Refund - Bar of limitation - filing of refund application within one year from the end of the quarter in which export was made - in view of board circular, matter needs.....
February 18, 2015 Case Laws Central Excise

Valuation of goods - Whether cylinder rental charges and cylinder repair/ testing charges would be includible in the assessable value of the gases being sold - Held No - AT
February 18, 2015 Case Laws Central Excise

Disallowance of CENVAT Credit - the appellant cannot utilize credit of AED (T&TA) for payment of Basic Excise Duty. - AT
February 18, 2015 Case Laws Central Excise

Since, in this case the wrong utilisation of the AED (GSI) credit pertaining to period prior to 01/04/2000 has taken place in 2003 immediately after amendment to Rule 3.....
February 18, 2015 Case Laws Central Excise

Denial of CENVAT Credit - Both the suppliers being registered dealers with the Department were carrying on the business from their registered premises for a number of......
February 18, 2015 Case Laws Customs

Valuation of goods - Inclusion of lumpsum trademark fee and lumpsum royalty for technical knowhow - there is no stipulation or condition as to where from or from whom......
February 18, 2015 Case Laws Customs

Classification of vessel - though the vessel has been modified to function as a casino, the appellant has not been able to secure any licence from the Govt. of Goa for......
February 18, 2015 Case Laws VAT and Sales Tax

Transfer of right to use trademark - The sales tax is leviable on the turnover of sales in respect of transfer of right to use any goods - HC
February 18, 2015 Case Laws Companies Law

Articles of Association- Restriction on the rights to transfer of shares - the failure of the first respondent company to amend its Articles of Association to give......
February 18, 2015 Case Laws Income Tax

Liability to deduct TDS u/s 194C - cinecasting/distribution of movies would be outside the purview of section 194C of the Income Tax Act, 1961 requiring tax deduction at source - HC
February 18, 2015 Case Laws Income Tax

An admission is substantial evidence of a fact, within the special knowledge of an assessee and if not retracted immediately or within reasonable time is substantive......
February 18, 2015 Case Laws Income Tax

Difference of stock - amount of closing stock differ in the books and as per the statement given to the bankers - unaccounted fabrication work - additions confirmed - HC
February 18, 2015 Case Laws Income Tax

TP adjustment on account corporate guarantee provided by the assessee to its AE - no transfer pricing adjustment could be made with regard to corporate guarantee issued.....
February 18, 2015 Case Laws Income Tax

There is not a single case law laying down a principle that books should compulsorily be rejected wherever a survey is conducted. Otherwise also, if this principle is......
February 18, 2015 Case Laws Income Tax

Taxability of amount received from LIC on maturity of key man insurance policies - Insurance company has itself clarified that on assignment, it does not remain a keyman....
February 18, 2015 Case Laws Income Tax

In the case of an assessee covered under section 49(1) of the Act, the capital gains liability has to be computed by considering that the assessee held the said asset......
February 17, 2015 Case Laws Service Tax

Classification of service - providing maintenance and repairs on behalf of M/s. Modi Xerox to the customers - liable to service tax under 'business auxiliary......
February 17, 2015 Case Laws Service Tax

Penalty u/s 76, 77 & 78 - the show-cause notice should not have been issued especially when the appellant paid the Service Tax within a week of being pointed out - no penalty - AT
February 17, 2015 Case Laws Central Excise

Composite issuance of SCN to two parties - tribunal set aside the demand on the ground that duty demand against Assessee could not be confirmed since it was not......
February 17, 2015 Case Laws Central Excise

Abatement under Rule 10 of Pan Masala Packing Machines - Closure of machines - Revenue's case that the appellants should have paid the duty for the subsequent month.....
February 17, 2015 Case Laws Central Excise

When the statements and records relied upon by the revenue are not considered to be sufficient ground for clandestine removal, in that case merely on the basis of......
February 17, 2015 Case Laws Central Excise

Conditional Exemption - Whether reversal of cenvat credit before utilizing would be amount to non availment of credit - it amount to non availment of credit - benefit of....
February 17, 2015 Case Laws Income Tax

Interest earned on advances paid during pre-commencement period found to be linked to setting up of the plant of the assessee would need to be treated as capital receipt" - AT
February 17, 2015 Case Laws Income Tax

Reopening of assessment - validity of issue of notice under Section 148 to non-existent person - assessment in the name of the erstwhile firm is bad in law, void......
February 17, 2015 Case Laws Income Tax

Disallowance of 50% of the provisions out of the expenditure claimed under the head ‘post sales expenses’ for warranty expenses - AO directed to allow the liability......
February 17, 2015 Case Laws Income Tax

Revision u/s 263 - order cannot be passed by the CIT u/s 263 of the Act to ask the AO to decide whether the assessment order was erroneous or not - AT
February 17, 2015 Case Laws Income Tax

Accrual of income - treatment given by the assessee in its books of accounts is not conclusive or decisive so as to bring it into tax and in order to be computed in......
February 17, 2015 Case Laws Income Tax

Exemption u/s 54B mandates - Capital gain on transfer of land used for agricultural purposes - This section nowhere talks that the land must be used for agricultural......
February 16, 2015 Case Laws Service Tax

Valuation - diesel consumption is not required for providing such service but diesel consumption is required for generating electricity - prima faice value of diesel not....
February 16, 2015 Case Laws Central Excise

Supplies made to UNICEF for their official use - notf. No. 108/95 dated 28.8.1995 - It is immaterial that the certificate in question did not mention exemption from......
February 16, 2015 Case Laws Central Excise

CENVAT Credit - Discrepancy in the description of the goods - credit cannot be denied at the end of the recipients of the said goods on the premise that higher duty has....
February 16, 2015 Case Laws Central Excise

Time limit for filing of stay application before commissioner (appeals) - even if a stay application has not been filed, before rejecting the appeal the appellant should....
February 16, 2015 Case Laws Customs

Customs Duty was paid in excess to what was required to pay - There is no need to challenge the assessment of the Bill of Entry - The refund of excess paid duty is admissible - AT
February 16, 2015 Case Laws Customs

Denial of refund claim - the date of deposit i.e. 10/12/2008 shall be excluded and six months shall be reckoned from 11/12/2008 and therefore the appellant's refund....
February 16, 2015 Case Laws VAT and Sales Tax

HC uphold the constitutional validity of circular stating that works contracts executed for SEZ units cannot have the benefit of zero rating, since goods transferred by.....
February 16, 2015 Case Laws VAT and Sales Tax

Hire purchase agreement - applicant argued that hire purchase transactions are essentially financial services and are not subject to sales tax - argument rejected - HC
February 16, 2015 Case Laws Income Tax

Computation of MAT - Book profit - amounts appropriated u/s 45-IC of the RBI Act to special reserve and Debt Redemption Reserve was not on account of specific or known.....
February 16, 2015 Case Laws Income Tax

Validity of notice under Section 143(2) - regular assessment - the notice issued after the period of limitation could not be held against the assessee - HC
February 16, 2015 Case Laws Income Tax

Diversion of Listing fee - transfer to Investor Protection Reserve, etc. - the accounting treatment adopted by the assessee to transfer the amount directly from listing....
February 16, 2015 Case Laws Income Tax

Re-computation of the ALP - idle capacity - PO used the TNMM as the most appropriate method for calculating the ALP - assessee could not point out that the utilization......
February 16, 2015 Case Laws Income Tax

Interest income from temporary advancement of funds - interest received by the assessee cannot be treated as income from business and it has to be treated as income......
February 15, 2015 Case Laws Service Tax

Levy of tax on interest income - Hypothecation - Interest being a consideration for the liquidity forgone by the Bank due to lending of the fund, that is not brought......
February 14, 2015 Case Laws Income Tax

When the lease itself has been held to be only a paper transaction and a bogus transaction, then income there-from also cannot be accepted. - AO directed to reduce the......
February 13, 2015 Case Laws Central Excise

Independent processor - taking knitting unit on lease - Respondent was an independent processor during the period of dispute and was required to discharge duty liability....
February 13, 2015 Case Laws Central Excise

Valuation - Denial of the deduction of trade discount and turnover discount - t the discounts passed on by credit notes and not shown in the invoices would be admissible. - AT
February 13, 2015 Case Laws Central Excise

Refund of credit on export of goods - absence of a statutory provision which prescribes that registration is mandatory and that if such a registration is not made the......
February 13, 2015 Case Laws Central Excise

Denial of CENVAT Credit - Shortage of raw material - Marginal difference noticed - marginal variation due to weighment by different machines to be ignored if within......
February 13, 2015 Case Laws Central Excise

CENVAT Credit - there is inspection, repacking and relabeling of the container from unit to unit container or bulk to unit container - prima facie such activity is......
February 13, 2015 Case Laws Customs

Import of Silicon Electrical Steel Strips/Scrap originated from old and used dismantled transformer - Commissioner did not think it proper to get the goods examined by......

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F: Transfer of ITC without filing ITC-02

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F: INTERMEDIARY SERVICES OR EXPORT SERVICES

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

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H: Cash found in lockers linked to temple trust and educational foundatio...

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