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Highlights / Annotations / Catch Notes For February of 2018

Home Highlights February February 2018 Year 2018

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Showing 1 to 50 of 372 Records

12 3 4 5........ 8

February 28, 2018 Case Laws Income Tax

Provision for doubtful overdue installments under hire purchase finance agreements - the party to be given an opportunity to establish its claim - adjustment by way of......
February 28, 2018 Case Laws Income Tax

Capital gains - Transfer of Property - selection of assessment year - capital gains would be taxable in the year in which such transactions were entered into, even if......
February 28, 2018 Case Laws Income Tax

Deemed income u/s 56(2) - consideration for issue of shares that exceeds the face value of such shares - redeemable non-cumulative preference shares (RNCPS) - RNCPS......
February 28, 2018 Case Laws Income Tax

Deemed income u/s 56(2) - consideration for issue of shares that exceeds the face value of such shares - determination of fair market value - tax has to be factored......
February 28, 2018 Case Laws Income Tax

Exemption u/s 11 and 12 - Educational institution - charging fees from the students - as per CIT(A), since sources of income are students, therefore, students cannot be.....
February 28, 2018 Case Laws Service Tax

Business Support Services - testing and analysis of newly developed drugs on human participants - The claims of the appellant are that these are clinical trial......
February 28, 2018 Case Laws Service Tax

Business Auxiliary Services - consideration received as a percentage of commission for the services rendered to ICICI Bank - the appellants are in fact engaged in......
February 28, 2018 Case Laws Service Tax

Levy of service tax - Debit entries made in the books for deployment of Officers - SNC, Canada cannot be categorized as a manpower recruitment or supply agency while......
February 28, 2018 Case Laws Service Tax

CENVAT credit - service tax paid on installation and commissioning services provided by various service providers at the site on installation of their DG sets - they are....
February 28, 2018 Case Laws Central Excise

Restoration of appeal - Condonation of delay - Courts of Law are not set up for mere disposal of cases. Courts of Law are established for adjudication of cases,......
February 28, 2018 Case Laws Central Excise

Reversal of cenvat credit - Sale of Carbon Di Oxide (Co2) without payment of duty - unintended byproduct, which emerge during the course of manufacture of the final......
February 28, 2018 Case Laws Central Excise

Whether the appellant is required to pay penalty for wrong availment of Cenvat credit which was later reversed by them before being pointed out by the department? - Held No - AT
February 28, 2018 Case Laws Central Excise

CENVAT credit - there is no provision under the CENVAT Credit Rules, 2004 for denial of availment of credit merely on the ground that the assessee has admittedly......
February 28, 2018 Case Laws VAT and Sales Tax

Issuance of C-form - failure to discharge tax liability - in taxing statute, there is no equity. If tax has not paid as declared, within the time provided there for,......
February 28, 2018 Case Laws Income Tax

Set off of derivative loss against derivative profit - speculative loss or not - the derivative transaction is not supported or backed by deliverable commodity - The......
February 28, 2018 Case Laws Income Tax

Penalty u/s. 271(1)(c) - AO has charged the assessee for twin defaults - the assessee has concealed the income arose out of transfer of capital asset and failed to......
February 28, 2018 Case Laws Income Tax

Deemed rental income - the unsold flats which are stock in trade when they were sold they are assessable under the head ‘income from business’ when they are sold and......
February 28, 2018 Case Laws Income Tax

TDS u/s 194C OR 194J - tds on the services of testing and commissioning received from the BHEL - Section 194J is not a residuary clause. In other words, it is not that......
February 27, 2018 Circulars DGFT

Export of all varieties of onions are permitted for export without any MEP or LC w.e.f. 02.02.2018 till further orders.
February 27, 2018 Circulars Customs

Refund of IGST on Export– Invoice mis-match Cases –Alternative Mechanism with Officer Interface
February 27, 2018 Circulars Central Excise

Consideration of mega power policy benefits in proportion to the long term PPA tied up in case of provisional mega power projects
February 27, 2018 Case Laws Income Tax

Genuineness of royalty paid to the Director - colorable devise to reduce the tax liability or not - It has been held in the present case that the assessee company did......
February 27, 2018 Case Laws Income Tax

Special Audit u/s 142(2A) - from the record, it does not appear to be either absence of an opportunity of hearing altogether or the absence of any reasons at all - The......
February 27, 2018 Case Laws Customs

Customs Broker - Prohibition imposed - The power to frame Rules given to the Board in the various fields enumerated in Clauses (a) to (g) of sub-Section (2) of Section......
February 27, 2018 Case Laws Customs

Customs Broker - Prohibition and suspensions - Departmental Authorities including the Appellate Authorities and also the CESTAT under Section 129-A of the Act are better....
February 27, 2018 Case Laws Customs

The role of the CHA in the Customs procedures is significant. The CHA is expected to safeguard the interest of exporter of the goods as well as the Customs - even though....
February 27, 2018 Case Laws Service Tax

Penalty - service tax is paid along with interest before issuance of SCN - applicability of Section 73(3) of the FA - levy of penalty waived for more than one reason - AT
February 27, 2018 Case Laws Service Tax

Business Auxiliary Services - the discount passed on by the manufacturer to the appellant cannot be construed as a commission and the same is not the subject matter of......
February 27, 2018 Case Laws Central Excise

Excisability - paper scrap generated in the factory - scrap of paper cannot be considered as a product different from the paper and Mere mentioning in the tariff is not.....
February 27, 2018 Case Laws Central Excise

SSI exemption - denial of benefit of Job work - The requirement of declaration under N/N. 214/86, is not a mere facility. The declaration serves the purpose of shifting.....
February 27, 2018 Case Laws Central Excise

Classification of Canvass and Tarpaulin - parts and accessories of motor vehicle or not - these Tarpaulin would be correctly classifiable under heading 6306 and not as......
February 27, 2018 Case Laws Income Tax

Addition on the sale of plot of land - The nature of land had gone irreversible change from agricultural to residential plots - this was an adventure in the nature of......
February 27, 2018 Case Laws Income Tax

Addition on account of difference in Arm’s Length Price - characterization of the business function of the taxpayer - When the taxpayer is not proved to be a risk bearer....
February 26, 2018 Circulars FEMA

Risk Management and Inter-bank Dealings: Revised guidelines relating to participation of a person resident in India and Foreign Portfolio Investor (FPI) in the Exchange.....
February 26, 2018 Notifications Income Tax

CBDT made a scheme for centralised issuance of notice and for processing of information or documents and making available the outcome of the processing to the Assessing Officer.
February 26, 2018 Notifications Income Tax

Application for registration of charitable or religious trusts, etc. - Rule 17A amended - Form No. 10A to be submitted electronically
February 26, 2018 Case Laws Income Tax

Addition in case of failure to deduct TDS u/s 194C - Since the recipient has already has admitted the income and paid the taxes and the amount in question was......
February 26, 2018 Case Laws Income Tax

Income of the consumer co-operative society - mutual association - activity of purchase and distribution of electric power - the assessee is a mutual association and the....
February 26, 2018 Case Laws Income Tax

Addition u/s.69 - difference of cash balance in the bank account as per books of account and as per the bank statement - once the books of accounts of the assessee are......
February 26, 2018 Case Laws Income Tax

Delay in payment of last installment of the Income Declaration Scheme, 2016 (IDS 2016) - there is no provision under the scheme, to grant any time, after 30.9.2017, to......
February 26, 2018 Case Laws Income Tax

Application for extension of time for payment of last installment of tax under the Income Disclosure Scheme 2016 - It would be for the Board (CBDT) to judge the facts on....
February 26, 2018 Case Laws Income Tax

Penalty u/S.158BFA(2) - on receipt of the notice following the search and seizure, the assessee has filed his returns within ten days of the expiry of the time......
February 26, 2018 Case Laws Service Tax

Penalty u/s 76 and 78 - the assessee cannot be penalised for non receipt of the tax from Rajasthan Housing Board. He has also not received tax and paid the same with......
February 26, 2018 Case Laws Service Tax

Chartered accountant - liability of service tax - activities like legal assistance, advisory work etc. were taxable under "Management, Consultant" service in terms of......
February 26, 2018 Case Laws Service Tax

Recovery of dues from legal heir - whether the SCN is validly issued in the name of Bhootpurva Sainik Security & Detective Service (after death of proprietor) - no......
February 26, 2018 Case Laws Central Excise

Benefit of exemption - actual user condition - intended for use in the manufacture of handicrafts and utensils - The intended use of the said goods has been established.....
February 26, 2018 Case Laws Central Excise

Cenvat Credit - removal of damaged parts of capital goods - Independent and solo reading of Rule 5A without appreciating the context in which the same is appearing, as......
February 26, 2018 Case Laws VAT and Sales Tax

Refund of tax paid on excess amount - price variation clause - since the price of the cylinder has been reduced, the assessee cannot charge more than the price fixed, is....
February 24, 2018 Circulars Customs

Refund of IGST on Export– Invoice mis-match Cases – Alternative Mechanism with Officer Interface
February 24, 2018 Notifications Customs

Anti-dumping duty on imports of "Toluene Di-Isocyanate (TDI)" originating in or exported from China PR, Japan and Korea RP - not to be levied for the period 5.12.2017 to 22.1.2018

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C: Clarifications on the applicability of concessional duty under IGCR Ru...

C: Withdrawal of Master Circular on issuance of No Objection Certificate ...

C: Mandatory additional qualifiers in import declarations in respect of c...

C: Implementation of automation in the Customs (Import of Goods at Conces...

N: Specifying Forms prescribed in Appendix-II of the Income Tax Rules 196...

N: Securities and Exchange Board of India (Bankers to an Issue) (Amendmen...

N: Securities and Exchange Board of India (Buy-Back of Securities) (Secon...

H: Excess Input Tax Credit penalty appeal dismissed due to delay; court a...

H: Chit Funds Commission Not Subject to GST: High Court Quashes Notice.

H: Taxability of Additional Surcharge by Electricity Distribution Company...

H: Transport agency's bundled services disqualify it from GST exemption f...

H: Compensation for surrendering intellectual property rights treated as ...

H: Cooperative society eligible for tax deduction on interest from cooper...

H: Taxman overreached by turning limited scrutiny into wide-ranging probe...

H: TDS credit limited to income in return, excess related to past years' ...

H: Genuine anonymous donations not taxable. Grants not income if utilized...

H: Property investment source verification not valid grounds for reopenin...

H: Income Tax Assessment Notice Issued by Non-Jurisdictional Officer Quas...

H: Foreign tech firm wins case: No permanent establishment or royalty tax...

H: Simplified taxation for non-resident shipping biz: 7.5% presumptive in...

H: Freight charges paid to foreign shipping co. not taxable royalty or ch...

H: Software License & ICT Service Fees Taxability Re-examined - Royalty o...

F: INTERMEDIARY SERVICES OR EXPORT SERVICES

F: assessment order

F: Transfer of ITC without filing ITC-02

A: Electronic Liability Register

A: From Inception to Exit- A Complete Guide to LLP Registration, Closure,...

A: Appeal filed beyond condonable period after writ proceedings disposal ...

A: Common Mistakes to Avoid While Making Income Tax Payments

F: PRE-DEPSOIT ISSUES