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Highlights / Annotations / Catch Notes For April of 2016

Home Highlights April April 2016 Year 2016

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Showing 1 to 50 of 638 Records

12 3 4 5........ 13

April 30, 2016 Case Laws Income Tax AT

Satisfaction for initiation of penalty proceedings u/s.271(1)(c) is not discernible from the order of assessment. - The show cause notice u/s. 274 is also defective - No Penalty - AT
April 30, 2016 Case Laws Income Tax AT

Disallowance of staff welfare expenditure - Assessee being a corporate body so question of expenditure being personal in nature does not arise - 100% claim of expenditure allowed - AT
April 30, 2016 Case Laws Income Tax SC

Period of limitation for passing the block assessment order - benefit of exclusion of the period during which there was a stay order against the order of special audit,.....
April 30, 2016 Case Laws Income Tax SC

Period of limitation for passing the block assessment order - limitation period is to be counted from the last date of search when the search operation completed - SC
April 30, 2016 Case Laws Income Tax HC

TDS liability - Factoring/discounting charges cannot be treated as interest for the purpose of 194A - HC
April 30, 2016 Case Laws Income Tax AT

Capital gain u/s 50B - transferee has taken over all fixed assets, specified current assets and not taken over all the loan and liabilities - sale of the fixed and......
April 30, 2016 Case Laws Income Tax AT

Assessment against non-existing companies to be held as void ab initio - AT
April 30, 2016 Case Laws Income Tax AT

Joint development agreement - Valuation of the capital gain should be appropriate to adopt the FMV/asset as deemed consideration, but not cost of the construction - AT
April 30, 2016 Case Laws Income Tax AT

TDS u/s 194H - assessee paid the incentive to the dealers for the purpose of promotion in selling its goods beyond a targeted quantum. - No TDS liability - AT
April 30, 2016 Case Laws Income Tax AT

Disallowance of interest paid to the bank as well as to the other parties - Revenue authorities have failed to bring on record any cogent evidence and material to show......
April 30, 2016 Case Laws Income Tax AT

Interest under section 244A of the Act on MAT credits - assessee is entitled to be allowed interest under section 244A of the Act on refundable taxes after giving credit....
April 30, 2016 Case Laws Income Tax AT

Exclusion of bad debts as sundry balances written off from the operating expenses on the ground that the same relates to domestic sales - AT
April 30, 2016 Case Laws Income Tax AT

Interest on finance cost is not to be excluded while calculating PLI of the assessee company being non-operating expenses - AT
April 30, 2016 Case Laws Wealth-tax AT

Determination of value of assets for wealth tax - assessee was never the owner of the land and thus the valuation in respect of Wealth Tax was incorrectly done by the......
April 30, 2016 Case Laws Central Excise AT

Cenvat credit on inputs namely, fabrics lying in stock or in process - Grey fabrics directly purchased by processor from manufacturer, that would be undisputedly are......
April 30, 2016 Case Laws Central Excise AT

Refund claim in respect of excess paid duty - proceeding of rebate and proceeding of refund are two different proceedings - appellant have rightly claimed the refund of.....
April 30, 2016 Case Laws Central Excise AT

Exemption from duty - footwear made by the appellant being essentially of plastic material, and giving the normal meaning of plastic footwear, the exemption is rightly......
April 30, 2016 Case Laws Customs HC

It was not open to the DRI to have proceeded to issue a Corrigendum/Addendum to the SCN without adopting the due course, since in terms of Section 127F(2) of the Act,......
April 29, 2016 Case Laws Income Tax AT

Waiver of loan cannot be brought into tax net considering the fact that the waiver condition was not fulfilled during this AY and cannot be recognized as income u/s 41 - AT
April 29, 2016 Case Laws Income Tax AT

Credit of TDS deducted on interest - no prejudice will be caused to any person if the TDS is refunded to the assessee being the nodal agency with the undertaking to......
April 29, 2016 Case Laws Income Tax AT

Deduction claimed u/s 54 - There is nothing in these sections, which require the residential house to be constructed in a particular manner - only requirement is that it....
April 29, 2016 Case Laws Income Tax AT

Penalty under section 271C - Only because the assessee before the Tribunal had accepted her liability for deduction of tax at source, cannot be the sole basis for......
April 29, 2016 Case Laws Income Tax AT

Liquidated damages paid for delay in delivery of materials is deductible expenditure in the year in which the liability to pay arises as per the agreement between the customers - AT
April 29, 2016 Case Laws Income Tax AT

Claim of deduction u/s 80P(2)(a)(i) allowed - 89.10% of the total loan disbursed towards agricultural and allied activities - AT
April 29, 2016 Case Laws Service Tax AT

Waiver of pre-deposit - Non-fulfilment of condition of Notification No. 18/2009 disentitles the appellant to the benefit of the said notification - AT
April 29, 2016 Case Laws Service Tax AT

In terms of the provisions, “authorization” has to be specifically from the foreign service provider and cannot be fastened upon the Indian Service recipient by the......
April 29, 2016 Case Laws Central Excise HC

The correct stage for granting cross examination would be when the adjudicating authority records the evidence which can start only after the petitioners file their reply - HC
April 29, 2016 Case Laws Central Excise AT

The show cause notice is the foundation for any proceeding. In this case, the allegation is too vague and therefore, the appellant's contention to the contrary cannot be....
April 29, 2016 Case Laws Central Excise SC

Receipt of duty paid dipping chemicals free of cost, availment of the duty paid as credit and excluding the cost of chemicals from the value of dipped nylon tyre cord......
April 29, 2016 Case Laws Central Excise HC

Entitlement of Settlement of a Case - earlier on four occasions the respondent herein was found guilty for concealment of duty particulars and penalty was imposed -......
April 29, 2016 Case Laws Customs HC

Excessive claim of duty drawback on export of imitation jewellery - This is not a case of an admitted fraud or a liability which is undisputed. Once there are......
April 29, 2016 Case Laws Customs HC

Show cause notice required to be issued within 90 days from the date of receipt of offence report as per Regulation 22(1) - HC
April 29, 2016 Case Laws VAT and Sales Tax HC

Levy of entertainment tax - participation in the activities provided by Polo Amusement to its subscribers’ guest, i.e. Sea Wave, Lazy River, Fun Slide, Kiddies Pool,......
April 28, 2016 Circulars Companies Law

The amended Accounting Standards should be used for preparation of accounts for accounting periods commencing on or after the date of notification - Circular
April 28, 2016 Case Laws Income Tax AT

Disallowance of purchases- Only on account of non-filing of the confirmations from the farmers who sold the paddy to the assessee, adhoc disallowance cannot be made - AT
April 28, 2016 Case Laws Income Tax AT

Levy of penalty u/s.271(1)(c) - assessee has wrongly computed the deduction u/s. 80-IA by showing the wrong depreciation - levy of penalty confirmed - AT
April 28, 2016 Case Laws Income Tax SC

TDS u/s 192 - Salary - Payments of collected tips made in the manner would not be payments made “by or on behalf of” an employer - appellants are outside Section 192 - SC
April 28, 2016 Case Laws Income Tax HC

Apportionment of expenses to determine the Foreign Income for the purposes of deduction u/s 80-O - method of apportionment of expenses between domestic business and......
April 28, 2016 Case Laws Income Tax AT

Provisions of section 50C of the Act cannot be invoked to compute the capital gains arising on transfer of leasehold rights - AT
April 28, 2016 Case Laws Income Tax AT

Addition u/s 50C - Whatever compensation received would be for relinquishment of right to obtain a sale deed, which is also a “capital asset” within the meaning of......
April 28, 2016 Case Laws Income Tax AT

Penalty u/s 271(1)(c) - incorrect valuation of scrap - Apart from the estimation made by the Assessing Officer, there is nothing to show that the assessee had valued the....
April 28, 2016 Case Laws Income Tax AT

Loss from speculation business of sale of shares - the assessee by virtue of being an NBFC is authorised to invest in shares and such a terminology does not indicate......
April 28, 2016 Case Laws Income Tax AT

Sale of flat and plots of land - the profit derived from sale of plots and flat should be assessed only as income from business and not as capital gains. Accordingly the....
April 28, 2016 Case Laws Income Tax AT

TDS u/s 192 - Non deduction of TDS - liability to deposit sum, not deducted or collected, with the Govt. treasury does not arise under Chapter XVII-B of the Act read......
April 28, 2016 Case Laws Service Tax AT

Value of supply of free material should not be included for arriving at gross value for charging service tax liability - AT
April 28, 2016 Case Laws Customs HC

SCN suffers from the fatal flaw and has been issued overlooking the COOs produced by the said importer verified by Issuing Authority. Since the SCN has been issued on......
April 28, 2016 Case Laws Central Excise AT

As per substituted definition of inputs with effect from 1/4/11, electrodes admittedly used by appellant in the factory of production, allowable for Cenvat credit - AT
April 28, 2016 Case Laws Customs HC

High Court having jurisdiction to entertain writ petitions against orders passed by the appellate authorities under the Customs Act, would be the High Court having......
April 28, 2016 Case Laws Customs AT

Time limit prescribed under the CHALR/CBLR are to be strictly adhered to - Delay in proceedings, in any stage, will have a bearing on the legality of the proceedings - AT
April 28, 2016 Case Laws VAT and Sales Tax HC

Bihar VAT - it is not permissible for the person making the deduction of tax at source to continue to make deduction of the entire amount from the bills without giving......

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