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Highlights / Annotations / Catch Notes For May of 2014

Home Highlights May May 2014 Year 2014

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Showing 51 to 100 of 370 Records

123 4 5 6........ 8

May 28, 2014 Case Laws Income Tax

Transfer pricing adjustment – Guarantee charges for guarantee to AE – no upward adjustment in the ALP in relation to charging of guarantee commission over and above......
May 28, 2014 Case Laws Income Tax

Computation of capital gains – nature of land at the time of valuation i.e. as on 1-4-2008 - conversion of agricultural land into non-agricultural land in the year 2005.....
May 27, 2014 Case Laws Central Excise

Rebate under Rule 18 - payment of interest on delayed payment after the goods have been cleared cannot be construed to mean that the condition of payment of duty prior......
May 27, 2014 Case Laws Customs

Proceedings against Courier agency - For bonafide action on the part of the appellant, the provisions of Regulation 13(b) and 13(c) of the said Regulations are not attracted. - AT
May 27, 2014 Case Laws Income Tax

Challenge to the order of ITAT on the ground that it erred in allowing the assessee to belatedly appeal against the orders of the Assessing Officer – assessee once......
May 27, 2014 Case Laws Income Tax

Recovery of dues from third person - group company – TRO’s own observations, that the consequence of APIIC revoking consent could very well be considered “force......
May 27, 2014 Case Laws Income Tax

Validity of direction of special audit – AO was justified in holding that the interest of the revenue had to be protected by ordering a special audit - HC
May 27, 2014 Case Laws Income Tax

Lease rent received by the assessee from letting out buildings along with other amenities in a Software Technology Park is chargeable to tax under the head ‘income from business’ - HC
May 27, 2014 Case Laws Income Tax

The idea of “once for all“ payment and “enduring benefit“ are not to be treated as something akin to statutory conditions, nor are the notions of “capital“ or “revenue“.....
May 27, 2014 Case Laws Income Tax

Loss from house property situated outside India - CIT(A) is not correct in holding that income from house property from Australian property was not assessable in India - AT
May 27, 2014 Case Laws Income Tax

Scope of section 68 - Society/Bank not required to go for detailed verification of address/ whereabouts of the customers - addition u/s 68 cannot be made merely because....
May 27, 2014 Case Laws Income Tax

Allowance of depreciation and partners salary etc. from estimated income applying the provisions of Section 44AD - AO is directed to allow the salary and interest paid.....
May 27, 2014 News Indian Laws

Narendra Modi's Cabinet: List of ministers with portfolios
May 26, 2014 Case Laws Customs

Duty demand - DEPB Scrips obtained by fraud - Confiscation of goods - No exports, on the basis of which DEPB scrips were issued, had actually taken place - recovery to be made - AT
May 26, 2014 Case Laws Income Tax

Rejection of extension of approval u/s 10(23C)(vi) - original order of approval dated 20.12.2007 still continues to remain in force inspite of the rejection of the......
May 26, 2014 Case Laws Income Tax

Assessment u/s 147 - period of limitation u/s 153(2) - contention of the Revenue that the limitation will start again only when the order is communicated to the......
May 26, 2014 Case Laws Income Tax

Tribunal has recorded the categorical finding that no apparent mistake has been committed by the tribunal and no case is made out for rectification - No interference is required - HC
May 26, 2014 Case Laws Income Tax

Penalty u/s 271(1)(c) - assessee has accepted the additions made in the assessment does not by itself justify the imposition of penalty for concealment - AT
May 26, 2014 Case Laws Income Tax

Entitlement for exemption u/s 11 - the placement and distribution of Bible and New Testament is for the benefit of the general public is one of the charitable purposes......
May 26, 2014 Case Laws Income Tax

Deduction u/s 80P(2)(a)(i) - objections of the Revenue that the ‘members’ defined in sub-clause(i) of section 80P(2) should only include voting members would amount to.....
May 26, 2014 Case Laws Income Tax

If a witness has given directly incriminating statement and the addition in the assessment is based solely or mainly on the basis of such statement, in that eventuality.....
May 26, 2014 Case Laws Income Tax

Advances to subsidiary company – Allowability as bad debt – the loss of advance by the assessee company to its 100% subsidiary company is to be allowed as a business loss - AT
May 25, 2014 Case Laws Service Tax

Waiver of pre deposit - when there were two views before the tribunal and on a legal point, then, a prima facie case was made out and for waiver of pre-deposit. - HC
May 25, 2014 Case Laws Central Excise

Duty demand - Goods seized and confiscated - Charges of clandestine removal are required to be proved by positive evidence and cannot be upheld on the basis of assumptions. - AT
May 25, 2014 Case Laws Central Excise

Condonation of Delay - A firm which is not a human entity cannot remain on tour. - condonation denied - AT
May 25, 2014 Case Laws Customs

IF any doubt or question arises in respect of interpretation of Foreign Trade Policy or in the matter of classification of any item of the ITC (HS) or in the Handbook,......
May 25, 2014 Case Laws Customs

Confiscation of goods - Goods declared as waste and scrap - if the goods are serviceable but cannot be used as such then it is to be treated as scrap. - AT
May 25, 2014 Case Laws VAT and Sales Tax

UPTT on the job work - colour, dye chemicals etc. used in bleaching, dyeing, processing and printing of gray cloth are consumable and are not transferred and not......
May 25, 2014 Case Laws Central Excise

Refund - amount due was not reflected in the books of account as claims receivable - refund claim was filed about 3 years after the decision of the Tribunal and more......
May 25, 2014 Case Laws Income Tax

Computation of Capital Gains - Whether the sum paid by the assessee pursuant to the award passed in favour of Onkar Management Private Limited can be treated as......
May 25, 2014 Case Laws Income Tax

Validity of notice u/s 148 - TDS was deducted on demat expnses - It is difficult to understand on what basis it is alleged that the income had escaped tax on a deduction....
May 25, 2014 Case Laws Income Tax

Exemption u/s 10B – Process of segregation of metal scrap from cable scrap - process would derive ferrous metal, other non-metallic parts etc. - the process amounted to.....
May 25, 2014 Case Laws Income Tax

Scope of term charitable purpose u/s 2(15) - improvement of educational standard of science students by making available superior course material and methodology for......
May 23, 2014 Case Laws Service Tax

The fact of wrongful availment of Cenvat credit came in the knowledge of the appellant in October 2009 and thereafter they have stopped taking the credit - but failed to....
May 23, 2014 Case Laws Service Tax

CENVAT Credit - Debit notes - when the debit note contains all the particulars which are required to be mentioned in an invoice, just because the document is titled......
May 23, 2014 Case Laws Service Tax

Demand of service tax - Double taxation - sub-contractor - pre-Cenvat credit Rule 2004 era - eparate confirmation of service tax against the sub-contractor would not be justified - AT
May 23, 2014 Case Laws Service Tax

Valuation of goods - outdoor catering services - whether cost of value of LPG cylinders supplied free by M/s. ITC would be taxable or not - prima facie cost is not includible - AT
May 23, 2014 Case Laws Central Excise

Extended period of limitation - second demand show cause notice, also for the period prior to the date of the visit of the officers, cannot be considered as time barred.....
May 23, 2014 Case Laws Customs

Classification of activated Bentonite clay imported from abroad - correct classification of activated Bentonite is CTH 38.02 and not CTH 25.08 - AT
May 23, 2014 Case Laws Customs

Valuation of goods - US list price as worked out by the Revenue should be the basis and duty demand confirmed on that basis and assessments should be finalized on that basis - AT
May 23, 2014 Case Laws Customs

As there is no declaration in the IGM any of the appellant’s name; further no bill of entry or bills of entry has been filed by any of the appellants, therefore, the......
May 23, 2014 Case Laws Customs

Exemption under Notification No. 17/2001-Cus. - delay in submission of end-use certificate - ubstantive condition of exemption has been satisfied - exemption allowed - AT
May 23, 2014 Case Laws Income Tax

Assessee fails whether the enhancement in its income is considered as on account of a TP adjustment or for denial of deduction u/s. 10A, i.e., from the standpoint of......
May 23, 2014 Case Laws Income Tax

The fact that the TPO himself has admitted that assessee is a market leader and it will be extremely difficult to identify the comparables - adjustment made by the AO is....
May 23, 2014 Case Laws Income Tax

The appeal filed by the assessee against the order passed by the AO u/s 143(3) of the Act on 30-9-2010 in pursuance of the directions of the DRP was not maintainable......
May 23, 2014 Case Laws Income Tax

Deduction u/s 80IB - development of SEZ - authorized operation - AO does not have any jurisdiction to question the validity or the legality of authorized operations......
May 23, 2014 Case Laws Income Tax

Charitable purpose u/s 2(15) - The education for the purpose of earning profits, imparting knowledge, which is required for getting employment are not covered by the provisions - AT
May 23, 2014 Case Laws Income Tax

ALP - Once TNMM has been applied to the assessee company's transaction, it covers under its ambit the Royalty transactions in question too and hence separate analysis......
May 23, 2014 Case Laws Income Tax

The foreign exchange loss incurred by the assessee on account of entering into forward contracts with the banks for the purpose of hedging the loss in connection with......
May 23, 2014 Case Laws Income Tax

Society is not doing any charitable work for uplift of general community and using its funds only for uplift of Sikh community by providing education in various fields,.....

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