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Highlights / Annotations / Catch Notes For April of 2016

Home Highlights April April 2016 Year 2016

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Showing 451 to 500 of 638 Records

1 ....6 7 8 91011 12 13

April 11, 2016 Case Laws Income Tax AT

Benefit of indexation - NRI assessee who had purchased shares in Indian currency would be entitled to benefit of second proviso to Sec. 48 on sale of equity shares in question. - AT
April 11, 2016 Case Laws Income Tax AT

UP Sahakari Chini Mill Sangh Limited and Sakkar Vikash Nikdhi are not covered by the definition of Public Financial Institutions / State Finance Institutions/ State......
April 11, 2016 Case Laws Income Tax AT

Short term capital loss - Just because a transaction results in a tax benefit, unless it is a sham transaction, it cannot be ignored - No justification in declining the.....
April 11, 2016 Case Laws Income Tax AT

Interest income of the assessee from fixed deposit is not “business income” but “income from other sources”- AT
April 11, 2016 Case Laws Income Tax AT

Interest paid to third parties falls under the head “business expenditure” which is liable to be deducted while computing the net profit - AT
April 11, 2016 Case Laws Income Tax AT

Advances taken against the supply are not covered by the provisions of Deemed dividend u/s 2(22)(e) - AT
April 11, 2016 Case Laws Income Tax AT

Reopening of assessment on the basis of Volckar committee report to be annulled - AT
April 11, 2016 Case Laws Income Tax AT

MAT - Provision for bad and doubtful debts are required to be added to book profit as per clause (i) of explanation [1] to subsection [2] of section 115JB - AT
April 11, 2016 Case Laws Income Tax AT

Process of compression of natural gas is a manufacture for claiming additional depreciation u/s.32(iia) - AT
April 11, 2016 Case Laws Income Tax AT

Penalty u/s 271D - cash transactions of the assessee with the directors and share holders of the company due to business expediency. Nobody has doubted the genuineness......
April 11, 2016 Case Laws Income Tax AT

Selection of most appropriate method - as cost components of the assessee are in variations with that of the comparables thus CPM cannot be regarded as MAM in the case......
April 11, 2016 Case Laws Income Tax AT

Depreciation to be carried forward allowed - carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever allowed - AT
April 11, 2016 Case Laws Income Tax AT

Agricultural land which is beyond 8 Kms from municipal limits is not a capital asset - AT
April 11, 2016 Case Laws Service Tax HC

Date for deposit of Service tax by cheque - VCES Scheme, 2013 - With the cheque having been realized, the date on which the service tax should be taken to have been......
April 11, 2016 Case Laws Central Excise AT

Reversal of Cenvat credit - Inputs found short in factory premises were written off - Shortages written off should be available in the factory prenises for Cenvat credit....
April 11, 2016 Case Laws Central Excise AT

Restoration of appeal - Dismissed by way of remand - Revenue's argument that the appeals are not dismissed and have been remanded with all issues open accepted and......
April 11, 2016 Case Laws Central Excise AT

Availment of Cenvat credit before 01.04.2011 - Outdoor catering and rent a cab service provided to employees/officers of the company - the cost of input services that......
April 11, 2016 Case Laws Central Excise AT

Cenvat credit - Health Insurance Services for the coverage of employees, spouse, dependent children and parents etc. - Medical insurance in relation to the employees of.....
April 11, 2016 Case Laws Central Excise AT

Cenvat credit - Non-possession of capital goods at the time of availment of Cenvat credit and goods were not used in or in relation to the manufacture of the final......
April 11, 2016 Case Laws Customs AT

Imposition of penalty - Penalty cannot be imposed if there is no malafide on part of importer, no tests have been carried out and no expert opinion has been obtained - AT
April 11, 2016 Case Laws Customs AT

Enhancement of value - Enhanced only on the basis of NIDB data - Adoption of NIDB Data, without any other evidence on record to establish the transaction value is......
April 9, 2016 Notifications DGFT

Requirement of Certification regarding export of Betel Leaves - Notification
April 9, 2016 Notifications Income Tax

Procedure for registration and submission of statement as per clause (k) of sub section (1) of section 285BA of Income-tax Act, 1961 read with Sub rule (7) of Rule 114G.....
April 9, 2016 Case Laws Income Tax AT

Addition on account of lower gross profit in post survey period on sale made to sister concern confirmed since no commercial expediency was demonstrated - AT
April 9, 2016 Case Laws Income Tax AT

Earnest money received - addition u/s 68 - As per the established principles of taxation jurisprudence, provisions of Section 68 can be invoked if the identity and......
April 9, 2016 Case Laws Income Tax AT

Deduction u/s 80RR - Income derived from profession as a 'sportsman' - The entire role of the assessee and the activity performed by him for which he was remunerated,......
April 9, 2016 Case Laws Income Tax AT

Adjustment in respect of levy of fees under section 234E was indeed beyond the scope of permissible adjustments contemplated under section 200A. - AT
April 9, 2016 Case Laws Income Tax AT

MAT - Long term capital gain from sale of shares to be shown to the book profits u/s 115JB - AT
April 9, 2016 Case Laws Income Tax AT

Transfer of shares without consideration - Transfer without any monetary consideration as per family arrangement cannot be held to be a gift - AT
April 9, 2016 Case Laws Income Tax AT

Bogus purchases - addition made on the basis of Maharastra VAT authorities to the effect that assessee’s suppliers have issued bogus invoices without involving any......
April 9, 2016 Case Laws Income Tax AT

Addition on undisclosed income cannot be made on the basis of the statement recorded during the survey under section 133A - AT
April 9, 2016 Case Laws Income Tax AT

Levy of penalty u/s. 271(1)(c) - Merely claiming of expenditure under wrong head would not make the assessee liable for penalty under the provisions of section 271(1)(c) - AT
April 9, 2016 Case Laws Income Tax AT

Deemed dividend u/s 2(22)(e) - transactions made by the assessee and the company are for business purposes and are not deemed dividend under section 2(22)(e) - AT
April 9, 2016 Case Laws Income Tax AT

Penalty U/s 271B - Failure to get accounts audited - Penalty confirmed - AT
April 9, 2016 Case Laws Income Tax AT

Exemption u/s 54 on unregistered property purchased from son of the assessee allowed - transferee gets the right over the property and has become the owner of the......
April 9, 2016 Case Laws Income Tax AT

Deduction u/s 10B - business of the assessee is proved beyond doubt that it involves in the manufacturing activities, in the result, it is eligible to claim deduction u/s 10B - AT
April 9, 2016 Case Laws Income Tax AT

Revision u/s 263 quashed - furnishing of proof in the course of assessment on record may not be required in all cases, when AO takes up the scrutiny for examining......
April 9, 2016 Case Laws Income Tax AT

Disallowance out of interest on loan u/s 24(b) as well as u/s 36(1)(iii) - belief of the assessee that any expense incurred during the course of its business (including.....
April 9, 2016 Case Laws Income Tax AT

Addition on interest income - Article 11(1) of India-Cyprus Double Taxation Avoidance Agreement (DTAA), which covers the instant situation provides for taxation of......
April 9, 2016 Case Laws Income Tax AT

Applicable rate of tax - India-Cyprus DTAA - Assessee is entitled to the benefits of the India-Cyprus DTAA and its income is liable to be taxed at the lower rate of 10% - AT
April 9, 2016 Case Laws Wealth-tax AT

Declared value of the jewellery while framing the assessment of Wealth tax - Assessee permitted to use the valuation report given by an approved valuer for a particular.....
April 9, 2016 Case Laws Service Tax AAR

Service tax obligation - Reverse charge mechanism - While discharging foreign C & F Agent raised composite bill / invoice liability under reverse charge, Service Tax is.....
April 9, 2016 Case Laws Service Tax AT

Refund of service tax - Goods exported under claim of drawback - While fixing all industry rate of drawback, the average duties and service tax paid in respect of inputs....
April 9, 2016 Case Laws Service Tax AT

Period of limitation - Refund claim - Notification No. 41/2007-ST - Export of printed books - It would appear that the original authority found no ground for rejection......
April 9, 2016 Case Laws Central Excise AT

Cenvat credit - Short received coal - Loss of weight due to removal of ash content, mud, fines occurred due to coal washing process has to be considered as arising......
April 9, 2016 Case Laws Central Excise AT

Eligibility of Cenvat credit - Service tax paid on input services - Expenses incurred on services like medical coverage to employees, membership paid to CII and......
April 9, 2016 Case Laws Central Excise AT

Valuation of physician samples - since there is a transaction value available at which the goods are sold by the assessee to the distributors, and the same has not been.....
April 9, 2016 Case Laws Central Excise AT

Classification of Herbal Pet Wash - Whether to be classified under CETH 3307.90 or under 3401.11 - the products namely Herbal Pet Wash are correctly classified under 3401.11. - AT
April 9, 2016 Case Laws Central Excise AT

Classification - Bio-95 - It is found that 3402.10 is a specific entry in respect of product namely Sulphonated Castor Oil and 3402.90 is for "other". It is a settled......
April 9, 2016 Case Laws Central Excise AT

Payment of interest of deposit - Once no appeal against the adjudicating authority was filed by the Respondent, then it has to be interpreted that they have accepted......

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