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Highlights / Annotations / Catch Notes For February of 2016

Home Highlights February February 2016 Year 2016

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Showing 251 to 300 of 433 Records

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February 13, 2016 Case Laws Income Tax AT

Foreign Currency Convertible Bonds expenditure deemed revenue, deductible under Income Tax Act section 37(1).
February 13, 2016 Case Laws Income Tax AT

Cash Payments Alone Insufficient to Reject Books u/s 145 Without Identifying Specific Account Defects.
February 13, 2016 Case Laws Income Tax AT

Interest Expenditure on Investment in Closely Associated Entity Classified as Revenue, Not Capital Expenditure.
February 13, 2016 Case Laws Income Tax AT

Revision u/s 263: Disallowance of MD Commission and Depreciation Claim on Short-Term Assets Challenged.
February 13, 2016 Notifications Central Excise

Section 11C Notification: Tax and Regulatory Details for Di-Calcium Phosphate (Animal Feed Grade) from Rock Phosphate.
February 13, 2016 Circulars DGFT

New Guidelines for Applying or Modifying Importer Exporter Code (IEC) by DGFT: Steps, Requirements & Compliance Tips.
February 12, 2016 Case Laws Service Tax AT

Company Recovers Deducted Refund from Revenue u/s 87(d) of Finance Act 1994; Refund Allowed.
February 12, 2016 Case Laws Service Tax AT

Tour Operator Faces Scrutiny for Non-Compliance with Bus Specifications u/r 128, Affecting Service Tax Matters.
February 12, 2016 Case Laws Central Excise AT

Service Tax Credit Reversal Before Utilization Negates Interest Demand in Mixed Goods Manufacturing Case.
February 12, 2016 Case Laws Central Excise AT

Courts Disagree on Using Endorsed Bills of Entry for Cenvat Credit; Extended Penalty Period Not Applicable.
February 12, 2016 Case Laws Customs AT

Goods with Essentiality Certificate Exempt from Duty, Notification Number Irrelevant for Transshipment Permits.
February 12, 2016 Case Laws Customs AT

Gastrointestinal Video Endoscope, including wireless capsule, qualifies for exemption benefits due to advanced diagnostic capabilities.
February 12, 2016 Case Laws Income Tax AT

Charitable institutions retain status despite income; exemptions u/ss 11 and 12 only partially denied if Section 13(1)(d) violated.
February 12, 2016 Case Laws Income Tax AT

Assessee's Deemed Dividend u/s 2(22)(e) Confirmed Despite Varying Explanations; Additions Upheld.
February 12, 2016 Case Laws Income Tax AT

Claiming Depreciation on Windmills: No Need for Separate Notification, Just Opt in via Rule 5(1A) on Tax Return.
February 12, 2016 Case Laws Income Tax AT

Foreign Travel Expenses Cannot Be Claimed Twice by Assessee and Related Entity, Court Clarifies.
February 12, 2016 Circulars Income Tax

Secure Electronic Communication Guidelines for Income Tax Scrutiny Assessments u/s 143(3) to Protect Confidentiality and Streamline Processes.
February 12, 2016 Case Laws Income Tax AT

Section 14A Disallowance: Estimate Admin Expenses When No Separate Books for Taxable & Exempt Income Exist.
February 11, 2016 Case Laws Service Tax AT

Cenvat Credit Restricted: No Eligibility for Outdoor Catering, Life Insurance, and Premiums After Amendment Exclusions.
February 11, 2016 Case Laws Service Tax AT

Service Tax Imposed on Multilevel Marketing Company for Commissions from Direct and Indirect Sales.
February 11, 2016 Case Laws Service Tax AT

Service Tax on Telecom Tower Erection Contracts Pre-June 2007 Under Review for Taxability and Material Supply Verification.
February 11, 2016 Case Laws Central Excise AT

Duty Demand Unjustified for 100% EOU; PFY/PTY Rightfully Procured Under CT 3 Certificates.
February 11, 2016 Case Laws Central Excise AT

Court Rules Rebate Recovery Invalid Due to Unfinalized Interest Amount Under Special Recovery Mode.
February 11, 2016 Case Laws Customs HC

Court Grants Interim Relief for Extended Warehousing of Ship Manufacturing Goods Beyond Standard Period.
February 11, 2016 Case Laws Customs CGOVT

Exporters Must Ensure Foreign Exchange Realization to Retain Duty Drawback Benefits; Recovery Confirmed with Interest.
February 11, 2016 Case Laws VAT and Sales Tax HC

Court Rules Petitioner Can Benefit from Post-Assessment Judgment; Reassessment Orders Allowed After Rectification Request.
February 11, 2016 Case Laws VAT and Sales Tax HC

High Court Orders Fresh Assessment Due to DVAT Annexure-2A and 2B Data Mismatch, Citing Natural Justice Principles.
February 11, 2016 Case Laws Income Tax HC

Unexplained Expenditure Found; Section 69C of Income Tax Act Invoked Due to Unsatisfactory Income Source Explanation.
February 11, 2016 Case Laws Income Tax AT

Converting a proprietary business to a private limited company isn't a 'transfer' u/s 47(xiv), exempting it from capital gains tax.
February 11, 2016 Case Laws Income Tax AT

Property Sales Taxability: Allotment Letter Timing Crucial for Short vs. Long-Term Capital Gains Classification.
February 11, 2016 Case Laws Income Tax AT

Bungalow Sale Proceeds Considered Capital Gains for Tax, Even if Ownership Gained Post-Sale.
February 11, 2016 Case Laws Income Tax AT

Unexplained Credits as Unsecured Loans: No Action Taken by Tax Authorities, No Income Addition for Assessee.
February 11, 2016 Case Laws Income Tax AT

Section 115JB: Authorities Can Evaluate Claims Excluded from Original Tax Returns When Calculating Book Profit.
February 11, 2016 Case Laws Income Tax AT

Payments for Vehicle Hire Not Sub-Contract Payments: No Tax Deduction Required u/s 194C(2) of Income Tax Act.
February 10, 2016 Case Laws Service Tax AT

CENVAT Credit Approved for Insurance Provider's Furniture and Fittings as Capital Goods for Output Services.
February 10, 2016 Case Laws Service Tax AT

Exporters Entitled to CENVAT Credit Refunds Regardless of Registration Timing; Clarification on Pre- and Post-Registration Claims.
February 10, 2016 Case Laws Service Tax AT

Tax Error: Material Component in Cylinder Repairs Wrongly Taxed; Service Tax Laws Misapplied.
February 10, 2016 Case Laws Central Excise AT

Court Rules No Interest Due on Suo Moto Refund Credited to Cenvat Account; Refund Valid Since 2007.
February 10, 2016 Case Laws Central Excise AT

Manufacturer's Payment Not Valid u/s 11A(2B) as Interest and Penalty Demand Time-Barred Due to Expired Limitation.
February 10, 2016 Case Laws Central Excise AT

Factory Waste Items Exempt from Excise Duty: Impure Chemicals, Scrap, Used Oils, and More Not Taxable.
February 10, 2016 Case Laws Customs HC

Determining Limitation Period for Mis-declared Goods: Relevant Date is Bill of Entry Clearance Date.
February 10, 2016 Case Laws VAT and Sales Tax HC

Court Upholds Ten-Year Tax Holiday, Ensures Promissory Estoppel Protects Exemptions in Transition from KST to KVAT Regime.
February 10, 2016 Case Laws Income Tax HC

Definition of "Non-Resident" under Income Tax Act: Not qualifying as resident per section 2(30) and 6(6) for sections 92, 93, 168.
February 10, 2016 Case Laws Income Tax AT

Service tax is excluded from deemed profits calculation u/s 44BB of the Income Tax Act; reimbursements may be included.
February 10, 2016 Case Laws Income Tax AT

Assessee Not in Default for Noncollection of Tax at Source on Timber Sale u/s 206C(6A.
February 10, 2016 Case Laws Income Tax AT

Disallowance of Salaries and Bonuses in Leather Manufacturing Deemed Unjustified Due to Essential Skilled Workforce Needs.
February 10, 2016 News Indian Laws

Public Input Sought on Revised Schedule III of Companies Act, 2013 for Enhanced Financial Reporting Standards Alignment.
February 10, 2016 News Indian Laws

Public Comments Invited on Draft Companies (Auditor's Report) Order, 2016 to Boost Transparency and Accountability in Auditors' Reports.
February 10, 2016 Case Laws Income Tax SC

Cess on green leaf is part of agricultural income; deductible before computing composite income u/r 8.
February 9, 2016 Notifications Customs

Amendment to All Industry Rates of Duty Drawback: Revised Customs Duty Rates Affect Exporters' Tax Incentives.

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