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Highlights / Annotations / Catch Notes For March of 2016

Home Highlights March March 2016 Year 2016

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Showing 301 to 350 of 657 Records

1 ....3 4 5 678 9 10 11........ 14

March 11, 2016 Case Laws Income Tax

Reopening of assessment - The ITAT observed that “just one unrealistic and absurd figure of net profit is taken out from the print out of the rough document from the......
March 11, 2016 Case Laws Income Tax

The addition cannot be sustained only on the basis of admission during the course of survey. - sec.133A does not empower IT authority to examine any person on oath,......
March 11, 2016 Case Laws Income Tax

Addition made on account of bad debt - It is nothing but the assessee is trying to enjoy the benefit of section 36(1)(vii) of the Act through back door, which is not......
March 11, 2016 Case Laws Income Tax

Disallowance of labour welfare expenses - The Government also recognizes the need and importance of Corporate Social Responsibility to be discharged by the Corporate......
March 11, 2016 Case Laws Income Tax

Addition u/s. 69B - unexplained investment in residential bungalows - the opinion of the DVO per se was not an information and could not be relied upon without books of....
March 11, 2016 Case Laws Income Tax

Obviously, when the assessee is using patents/trademarks of its parent company, it will have to pay royalty for the same which cannot be disallowed, unless it is not at.....
March 10, 2016 Case Laws Central Excise

Extended period of limitation - When the material facts are disclosed, a particular classification followed by the appellant will not make a case for suppression - the.....
March 10, 2016 Case Laws Central Excise

SSI Exemption - Manufacture and clearing dutiable goods with the brand name or trade name of another person - for denial of exemption the brand name or trade name has a....
March 10, 2016 Case Laws Central Excise

Demand of duty for clearance of waste and scrap - the transparency in the appellant's dispatch of waste and scrap and receiving the granules back cannot be questioned......
March 10, 2016 Case Laws Central Excise

Liability to pay the excise duty - consignee does not sent the certificate of re-warehousing within the period of 90 days - department cannot ask the appellant to pay......
March 10, 2016 Case Laws Customs

Valuation - as the Supply Agreement is consistent with the Technology Transfer Agreement, and the supplier had the right to terminate the supplies in case of non-payment....
March 10, 2016 Case Laws Customs

Invokation of Rule 9(1)(c) - Royalty and Technical know-how fee paid on domestic sale - Whether includible or not in the value of goods imported - Held that: Not to be included - AT
March 10, 2016 Case Laws Customs

Contravention of provisions of Regulation 13(e) and 13(o) of CHA Licensing Regulation, 2004. - CHA has not even claimed that it had ever verified the existence of the......
March 10, 2016 Case Laws Customs

Entitlement - Benefit of Notification No. 12/2012-Cus, - beyond doubt that 'bulk drugs' are also 'drugs' - benefit of exemption allowed - AT
March 10, 2016 Case Laws Income Tax

Validity of exercising jurisdiction u/s.263 - Application of the principle of diversion of income by overriding title - transfer of capital asset inherited - The line of....
March 10, 2016 Case Laws Income Tax

Penalty u/s 271B - Tax Audit - The assessee was under the bonafide belief that the provisions of Section 44AB of the Act were not applicable to a Club, while supplying......
March 10, 2016 Case Laws Income Tax

Qualification for exemption u/s 10(5) - LTC paid to the employees involving foreign travel - TDS on the payment of LTC to the employees - Revenue has rightly held the......
March 10, 2016 Case Laws Income Tax

TDS u/s 195 - the assessee can not be said to have paid the consideration for use of or the right to use copyright but has simply purchased the copyrighted work......
March 10, 2016 Case Laws Income Tax

Non service of notice u/s 143(2) - Apparently, the notice was sent on the wrong address as the assessee has categorically given his address in the relevant return of......
March 10, 2016 Case Laws Income Tax

Rejection of books of accounts - denial of natural justice - Assessing Officer has not provided sufficient opportunity of being heard to the assessee rather rejected the....
March 10, 2016 Case Laws Income Tax

Revision u/s 263 - AO has to consider the provisions applicable under Rule 8D effective from assessment year 2008-09. But the AO made disallowance by following......
March 10, 2016 Case Laws Income Tax

Penalty u/s 271(1)(c) - the money has been appropriated by ICICI Bank after collection and the assessee has claimed the deficiency in realization as Bad debts. The......
March 10, 2016 Case Laws Income Tax

Eligibility of deduction u/s 80IC on freezing charges - freezing charges earned by the assessee is an integral part of the processing of vegetables and therefore is......
March 10, 2016 Case Laws Income Tax

Capital gains - calculation of number of trees - The evidence filed by the assessee in terms of certificate of Tehsildar or that of a retired IAS officer is of no......
March 10, 2016 Notifications Service Tax

ST-3 return form amended to insert the columns related to Swachh Bharat Cess - Service Tax (Second Amendment) Rules, 2016 - Notification
March 9, 2016 Case Laws Service Tax

The demand of service tax along with interest is confirmed under the category of “Transport of Export Cargo” as there was no exemption of service tax on the said service....
March 9, 2016 Case Laws Central Excise

Cenvat Credit denied of service tax paid on club membership of Association - the expenses incurred on the membership of the business club is an “input service” and......
March 9, 2016 Case Laws Central Excise

Jute mattings manufactured - whether are floor coverings or not ? - Notification No. 29/95-CE dt 16/3/1995 benefit claimed - as per this meaning the mattings can also......
March 9, 2016 Case Laws Central Excise

Rejection of refund claim - export of goods - in appellants case the ARE 2 for export has to be filed within 24 hours of clearance and as such, there is no scope for......
March 9, 2016 Case Laws Customs

Entitlement of benefit - import against Advance Licence as Actual user manufacturer-exporter - it misused the advance licence and contravened the Customs Notification......
March 9, 2016 Case Laws Customs

Classification - Whether the goods imported are Heavy Melting Steel Scrap or Secondary Welded Pipes - The pre-shipment inspection certificate clearly indicates that......
March 9, 2016 Case Laws Customs

Valuation - The rate in the contract would not show whether it is FOB/ CIF basis. It is particularly noted that the certain size of tiles imported by the appellant are......
March 9, 2016 Case Laws Customs

100% EOU - Denial of exemption - Even the supplier reimbursed the amount towards shortage noticed in weight which also supports the view that there was no diversion of.....
March 9, 2016 Case Laws Customs

CHA - Some inadvertence or lack of efficiency took place on part of the CHA and that is because of a regular dealing with the said importers and not because of gross......
March 9, 2016 Case Laws Income Tax

Registration of a trust under section 12AA(3) - the activities of the trust would fall within the ambit of 'education and 'advancement of any other object of general......
March 9, 2016 Case Laws Income Tax

Recovery of demand - attachment of account whereas the appeal was pending - AO refused to grant stay - non deduction of TDS - attachment vacated - CIT(A) to hear the......
March 9, 2016 Case Laws Income Tax

Computation of MAT credit - Assessee has relied on the ITR–6 format to arrive at the total liability as well as the MAT credit calculations and paid tax accordingly. In.....
March 9, 2016 Circulars Customs

The domestic passengers who board international flights in the domestic leg are not required to file the Customs Baggage declaration form.
March 9, 2016 Circulars Income Tax

The monetary limit of ₹ 10 lakhs for filing appeals before the ITAT would apply equally to cross objections under section 253(4) of the Act. Cross objections below....
March 9, 2016 Circulars Income Tax

U/s 245 of Income Tax Act 1961 revised timeline for verification of arrear of demand - In case no response is received from the AO within thirty days. CPC would issue......
March 9, 2016 Case Laws Income Tax

The grant of tenancy rights by the assessee trust and the premium of ₹ 51.00 lakhs received in lieu thereof from the tenants is a capital asset in the hands of the....
March 9, 2016 Case Laws Income Tax

Disallowance of interest on borrowed capital u/s 24(b) - whether property should be let out for claiming deduction of interest? - the assessee’s claim has no tenability....
March 9, 2016 Case Laws Income Tax

Set off of business loss against interest income taxable under the head income from other sources - as the assessee has not carried out any business activity during the.....
March 9, 2016 Case Laws Income Tax

Capital gain - conversion of the partnership firm into company - the conditions laid down under section 47(xiii) of the Act have been fulfilled in this case. Therefore,....
March 9, 2016 Case Laws Income Tax

Disallowance u/s 14A - if at all any indirect expenses is to be attributable, then same has to be estimated having regard to the accounts and nature of expenditure......
March 8, 2016 News Indian Laws

Tax Administration Reforms Commission
March 8, 2016 News Indian Laws

Issue of clarification on contentious TDS issues on payments made by Television channels, Broadcasters and Newspapers
March 8, 2016 Circulars Customs

Issue of Indian Currency Note - Foreign going vessels - CBEC withdraws its earlier circular since RBI has not prescribed any restriction on denomination of Indian......
March 8, 2016 Case Laws Service Tax

Refund claim - As the service was rendered to self and service tax was paid thereon, burden can only passed on to self and passing on the burden to self is not......
March 8, 2016 Case Laws Service Tax

Refund of Cenvat credit - input services - When the premises was occupied by the appellant and day-to-day repairs and maintenance are carried out in that premises then......

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H: Revision: Hospital receipts verified, partial refunds & fees paid subs...

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H: Property purchase: Joint owners pay via banking channels before regist...

H: Tax exemption limit for leave encashment: Local authorities' employees...

H: Tax assessments beyond 6-year limit quashed, satisfaction note lacked ...

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

H: Microphone Tech Classification: Functionality Over Technology.

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

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