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Highlights / Annotations / Catch Notes For May of 2016

Home Highlights May May 2016 Year 2016

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Showing 1 to 50 of 646 Records

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

May 31, 2016 Circulars Income Tax

Claim for any debt or part thereof in any previous year, shall be admissible u/s 36(1)(vii), if it is written off as irrecoverable in the books of accounts of the......
May 31, 2016 Notifications Central Excise

CBEC notified the Indirect Tax Dispute Resolution Scheme Rules, 2016
May 31, 2016 Case Laws Income Tax HC

Allowability as revenue expenditure - payment made by the appellant to the landlord for his consent to the reconstruction of the building - held as Revenue in nature - HC
May 31, 2016 Case Laws Income Tax HC

Exemption u/s 11 - Charitable purpose u/s 2(15) - Merely because education is provided at cost does not result in the Society ceasing to carry on its activities for a......
May 31, 2016 Case Laws Income Tax AT

Addition made u/s.50B holding the tea estate as slump sale - Only those assets which were enumerated in the Schedules and Annexures were sold to the vendee. Therefore,......
May 31, 2016 Case Laws Income Tax AT

Addition to the book profit u/s.115JB being Provision for NP and Provision for Dimunition in value of investments - the diminution and appreciation in the value of......
May 31, 2016 Case Laws Income Tax AT

TDS u/s 194C - The assessee having made the payments on behalf of its clients, there is no liability to deduct tax at source on the assessee - AT
May 31, 2016 Case Laws Income Tax AT

Levy of Interest u/s. 220(2) - When this demand was raised the same is required to be payable in accordance with law and not from the period of relevant assessment year.....
May 31, 2016 Case Laws Income Tax AT

TDS provisions u/s 194D are not applicable on Service Tax element in respect of ‘insurance commission‘ - AT
May 31, 2016 Case Laws Income Tax AT

Disallowance of writing off of deposit given for gas and electricity - loss suffered as a result of non-recovery of the said deposits was a loss incidental to the......
May 31, 2016 Case Laws Income Tax AT

Reimbursement of salary paid to expatriate employees - assessee had already deducted TDS u/s 192 - The assessee was not liable to deduct TDS under section 194J on the......
May 31, 2016 Case Laws Service Tax AT

Imposition of penalty - Section 78 of the Finance Act, 1994 - the non-payment of tax was on account of bonafide belief and the Revenue had conducted Audits which would......
May 31, 2016 Case Laws Central Excise AT

Whether the eligibility for credit on input services is to be denied since the same was used outside the factory - Cenvat being a beneficial piece of legislation, which.....
May 31, 2016 Case Laws Central Excise AT

Refund - the order cannot be faulted as such adjustment of duty on finalization of provisional assessment is held to be legally valid - AT
May 31, 2016 Case Laws Central Excise AT

SSI Exemption - Wrong Valuation - appellants exceeded the SSI exemption limit prescribed under Notification No.8/2003-CE, dated 01.03.2003 - Demand set aside as beyond......
May 31, 2016 Case Laws Central Excise AT

Eligibility of Cenvat credit - excess payment of duty by the Input manufacture - the jurisdictional officers of Suppler have not disputed the duty paid and the alleged......
May 31, 2016 Case Laws Customs HC

SFIS - there is no justification for the DoR to insist that the vessels of the Petitioner that have completed more than three years after import should be transferred......
May 30, 2016 Notifications Income Tax

CBDT Appoints the 31st day of December, 2016 as the date on or before which a person may make a declaration to the designated authority in respect of tax arrear or......
May 30, 2016 Notifications Income Tax

The Direct Tax Dispute Resolution Scheme Rules, 2016 - Notification
May 30, 2016 Notifications Income Tax

Central Government appoints the 1st day of June, 2016 as the date on which Chapter VIII (EQUALISATION LEVY) of the Finance Act 2016 shall come into force - Notification
May 30, 2016 Notifications Income Tax

EQUALISATION LEVY RULES, 2016 - Notification
May 30, 2016 Case Laws Income Tax AT

Status of assessee trust - whether society registered under a statute is to be assessed as an Artificial Juridical Person (AJP)? - Held Yes - AT
May 30, 2016 Case Laws Income Tax AT

MAT - The capital gain arising to an assessee u/s.50 of the Act on a depreciable asset is liable to be excluded from calculation on deemed profit u/s. 115JA of the Act. - AT
May 30, 2016 Case Laws Income Tax AT

If the hire charges as mentioned in form No. 26AS (as per TDS statement) are to be considered in the current year then the corresponding income as shown in the next year....
May 30, 2016 Case Laws Income Tax AT

TDS - Non-deduction of tax at source on year end provision - the payee is not identifiable at the time of making of provision and further the entire provision has been......
May 30, 2016 Case Laws Customs CGOVT

Smuggling of memory cards in unaccompanied baggage - adjudicating authority has rightly ordered absolute confiscation of the impugned goods - commissioner (Appeals) has.....
May 30, 2016 Case Laws Customs AT

What is the correct date for filing of the refund claim - original refund claim was filed within time but complete documents were submitted after the cut-of-date - A......
May 30, 2016 Case Laws VAT and Sales Tax HC

Activity liable to VAT or service tax - sale of media space for displaying advertisements of its clients - To be decided in view the principles as reiterated in the case....
May 28, 2016 Case Laws Central Excise AT

Eligibility of Cenvat credit - Debit notes raised for claiming reimbursement of rack handling charges, wagon handling charges and port railway usage charges and service.....
May 28, 2016 Case Laws Central Excise AT

The goods procured from open market cannot be related to a particular manufacturer. It cannot be presumed that the said waste and scrap has originated without payment of....
May 28, 2016 Case Laws Customs AT

Excessive claim of duty drawback - The allegation of the Revenue is that the goods overvalued - it cannot be alleged that the goods were undervalued in the absence of......
May 28, 2016 Case Laws Customs AT

DRI officers have no jurisdiction to issue show-cause notice for recovery of erroneously drawback claim under Rule 16 of Customs and Central Excise and Service Tax......
May 28, 2016 Case Laws VAT and Sales Tax HC

Availing of input tax credit on photostat tax invoices/bogus invoices in the absence of selling dealer remitting the taxes to the Government and the investigations......
May 28, 2016 Case Laws Income Tax AT

Revision u/s 263 - amount received from the insurance company as well as the clients - Assessee-company could not demonstrate before us that this issue was examined by......
May 28, 2016 Case Laws Income Tax AT

The assessee is getting additional benefit on account of depreciation claimed on the tools and dyes which have been reimbursed by the clients to it by claiming......
May 28, 2016 Case Laws Income Tax AT

Interest earned on fixed deposit with banks complying with the provisions of Section 11(5) is exempt and the proviso to Section 2(15) has no application to the facts of.....
May 28, 2016 Case Laws Income Tax AT

Exemption u/s 11 - charitable purposes - the words "not involving the carrying on any activity for profit" were dropped from section 2(15) - As long as broader public......
May 28, 2016 Case Laws Income Tax HC

Addition on account of interest paid to M/s Saini Car Scheme under Section 40A(2)(b) - The advancing of loan to the employees was for business purposes of the assessee -....
May 28, 2016 Case Laws Income Tax AT

Addition on account shortage of automobile parts - while conducting business of items which are huge in numbers, a minor shortage on account of pilferage, handling, wear....
May 28, 2016 Case Laws Income Tax AT

Addition of difference between the value of stocks falsely declared to Canara Bank as at 31-03-2004 and 31-03- 2005 confirmed - Addition of bogus creditors confirmed - AT
May 28, 2016 Case Laws Income Tax AT

TDS u/s 195 - assessee in default - withholding of tax - A.O in treating the assessee as an assessee in default for not deducting tax at source on remittances made to......
May 28, 2016 Case Laws Income Tax AT

Assessee is entitled to claim 50% of additional depreciation in the succeeding year when the plant and machinery was put in use for less than 180 days in the preceding......
May 28, 2016 Case Laws Income Tax AT

Penalty levied u/s 221(1) - delay in payment of self assessment tax u/s 140A - assessee had filed its return of income on 30.09.2010 without payment of taxes - due date.....
May 28, 2016 Case Laws Income Tax AT

Penalty u/s 271E - violation of Section 269T - assessee was duly necessitated by force to make the payments in cash to its director for onward transmission to the buyers....
May 28, 2016 Case Laws Income Tax AT

Penalty u/s 271D - violation of provisions of section 269SS - merely by passing one receipt entry in cash book and one payment entry in cash book for a sum, no......
May 27, 2016 Case Laws Income Tax HC

The premium on the 'Keyman Insurance Policy' of partner of the firm is wholly and exclusively for the purposes of business and is allowable as business expenditure - HC
May 27, 2016 Notifications Central Excise

CENVAT Credit (Seventh Amendment) Rules, 2016 - Krishi Kalyan Cess shall be allowed as Cenvat Credit - Cenvat Credit (other than Krishi Kalyan Cess) cannot be utilized......
May 27, 2016 Notifications Service Tax

Seeks to amend notification No. 12/2013- ST, dated the 1st July, 2013 so as to inter alia allow refund of Krishi Kalyan Cess paid on specified services used in an SEZ - Notification
May 27, 2016 Case Laws Income Tax HC

Reopening of assessment - sale price of the shares - LTCG or STCG - certain shares had been acquired by the Assessee by way of a gift - the statement of shareholding......
May 27, 2016 Case Laws Income Tax HC

Validity of assessment order - whether it is antedated? - whether time period specified u/s144(C)(4) r.w.s. 144(C)(3) adhered or not? - there was no such despatch......

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