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Highlights / Annotations / Catch Notes For May of 2016

Home Highlights May May 2016 Year 2016

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May 9, 2016 Case Laws Income Tax AT

Since the warrant of search was not executed at the business premises of the assessee firm and from the place of search no material whatsoever relating to the firm was......
May 9, 2016 Case Laws Service Tax AT

Service rendered to overseas person - Service Tax liability arises on overseas manufacturer but under reverse charge mechanism appellant is made liable to pay - Services....
May 9, 2016 Case Laws Central Excise SC

Includability - Whether amounts recovered by IIL in the form of debit notes towards bank charges, interest, etc. were includible in the assessable value of inputs iron......
May 9, 2016 Case Laws Central Excise HC

Cenvat Credit - Eligible input - Final products cleared along with the packing material - There is no dispute about the fact that the final products were cleared along......
May 9, 2016 Case Laws Customs SC

Import of spectacle lense - Department treated them as semi-finished spectacles lenses and denied the exemption - This approach of the authorities below was clearly erroneous - SC
May 9, 2016 Case Laws Customs HC

Waiver of demurrage/godown rent and container charges - there is no mala fides of the individual Customs officers in delaying the release of the goods - In such......
May 9, 2016 Case Laws Customs HC

Refund - unjust enrichment - The bank guarantees were undoubtedly securities to safeguard the interest of the Revenue but, once the High Court dismissed the petitions......
May 9, 2016 Case Laws Customs HC

Applicability of Ratio of decision of different High Courts - Being a central statute bearing tax implications, we would, even otherwise, be slow in taking different......
May 9, 2016 Case Laws Customs HC

It is to be noted that Section 132 of the Customs Act is a Bailable one. Further, the offence under Section 135 of the Act is a compoundable one, in terms of Section......
May 9, 2016 Case Laws VAT and Sales Tax HC

Merely, because the advertisements of the advertisers were displayed on the Sites would not necessarily lead to the conclusion that they had acquired the right to use the Sites - HC
May 7, 2016 Case Laws Central Excise SC

Classification of Guar Gum and Guar Dal Flour - Assessee succeeds inasmuch as on the ground of limitation itself inasmuch as at the relevant time there was conflicting......
May 7, 2016 Case Laws Central Excise HC

As long as a judgment of the Tribunal stands, it would bind every Bench of the Tribunal of equal strength and the departmental authorities taking up such an issue - HC
May 7, 2016 Case Laws Central Excise HC

Simultaneous availing Cenvat Credit and Depreciation - once the mistake is detected and he filed revised returns, deprivation of the benefit of Modvat Credit could only.....
May 7, 2016 Case Laws Income Tax HC

Addition of speculation loss - submission on behalf of Revenue negatived that provisions of UTI Act creates a fiction to make Unit Trust of India a deemed company and......
May 7, 2016 Case Laws Income Tax HC

TDS liability on interest on award of insurance compensation in view of the death or injury - the orders calling upon the insurance company to pay the TDS/deduct TDS on.....
May 7, 2016 Case Laws Income Tax AT

Disallowance of expenditure on account of interest on prorata basis - when the assessee has made investment for business expediency to promote the business of its......
May 7, 2016 Case Laws Income Tax AT

Taxing of capital gains u/s.50B r.w.s.2(42C) - sale of undertaking as a going concern for a lump sum consideration - addition made by the AO u/s.50B on account of gain......
May 7, 2016 Case Laws Income Tax AT

Income assessable under the head ‘Income from House Property’ - The adoption of an enhanced rate does not breach the theory of real income inas- much as what the law......
May 7, 2016 Case Laws Income Tax AT

Undisclosed income - Addition made on the basis of the statement during the survey u/s. 133A is not sustainable in the eyes of law - AT
May 7, 2016 Case Laws Income Tax AT

Reopening of assessment - assessments based on receipt of certain information from Investigation Wing invalid due to non application of mind by the A.O - AT
May 7, 2016 Case Laws Income Tax AT

Taxation on mobilization charges - Entire payment of mobilization charges in question was paid for the purpose of execution of the contract between the assessee and the.....
May 7, 2016 Case Laws Income Tax AT

Income from the services rendered in connection with providing drilling rigs/drilling services to ‘Cairn’ in India are in the nature of services and facilities in......
May 7, 2016 Case Laws Income Tax AT

Addition u/s. 28(iv) - waiver of the outstanding principal amount of loan - amount used for the purchase of capital asset, the waiver thereof is a capital receipt not......
May 7, 2016 Case Laws Income Tax AT

Disallowance under section 80-IA - choosing of the initial assessment year - it is the option of the assessee to choose the initial assessment year for claiming......
May 7, 2016 Case Laws Income Tax AT

TDS liability - Payment to Association of Tennis Profession (ATP) - ATP is a non-resident sports institution and therefore Section 194E applies to the payments made by......
May 7, 2016 Case Laws Income Tax AT

Additional depreciation on Ready Mix Concrete [RMC] - assessee is not entitled for additional depreciation in respect of machinery used since production of ready mix......
May 7, 2016 Case Laws Income Tax AT

When income is computed u/s 11, A.O. was not correct in disallowing the amounts by invoking the provisions of sec. 40(a)(ia) and 43B for failure to deduct TDS and......
May 7, 2016 Case Laws Income Tax AT

Foreign exchange gain pertaining to marketing commission segment should be considered as operating income - AT
May 7, 2016 Case Laws Income Tax AT

Since the subsidy received for setting up of industries by installing plant and machinery would definitely reduce the cost of the plant and machinery from the side of......
May 7, 2016 Case Laws Income Tax AT

Treatment of income from trial run receipts - the income earned by the assessee by operation of plant and machinery for treating the effluent water and collected the......
May 7, 2016 Case Laws Service Tax AT

If according to the appellant service tax liability was not attracted then also they should have deposited the amount with the department as an amount recovered in the......
May 7, 2016 Case Laws Service Tax AT

Levy of penalty - As the assessee had paid service tax and interest by showing their bonafides before issuance of SCN - Penalty liable to be waived of by invoking Section 80 - AT
May 7, 2016 Case Laws Service Tax HC

Once the seervice tax is collected it is the duty to pay it to the credit of Central Government within six months from the date of collection - Failure to deposit is a......
May 7, 2016 Case Laws Customs HC

Commissioner ought to have stayed the adjudication proceedings since the issue was pending before various Tribunals at different stages would lead to absurd - there is......
May 7, 2016 Case Laws Customs HC

Department cannot seek to rely upon Section 28(11) as authorising the officers of the Customs, DRI, the DGCEI etc. to exercise powers in relation to non-levy, short-levy....
May 7, 2016 Case Laws VAT and Sales Tax HC

Nature of amount deposited as per the direction of the Court - GVAT - Such amount cannot be termed as an amount of tax paid as envisaged under sub-section (1) of section....
May 6, 2016 Case Laws Income Tax AT

Disallowance of speculative loss invoking the provisions of section 73 - if the gross total income of the assessee comprises of any or all the heads of income, then the.....
May 6, 2016 Case Laws Income Tax AT

Eligibility for re-registration after cancellation of registration u/s 12AA cancelled - assessee cannot apply for re-registration, once the registration granted was......
May 6, 2016 Case Laws Income Tax AT

Addition on gifts received - the gift being transferred “in kind” hence not to be taxed for the year under consideration - AT
May 6, 2016 Case Laws Income Tax AT

Income from Other Sources - Bonus shares can never be considered as received without consideration or for inadequate consideration calling for application of subclause......
May 6, 2016 Case Laws Income Tax AT

TDS liability - period of limitation - proceedings u/s 201 can be initiated by the TDS office within the period of 2 years from the end of the financial year in which......
May 6, 2016 Case Laws Income Tax AT

Penalty u/s.271BA - no affidavit from the Director or by Chartered Accountant to show that report in Form No.3CEB was obtained before the due date of filing of the......
May 6, 2016 Case Laws Income Tax AT

Revision u/s 263 - assessee failed to demonstrate as to how the notice under section 263 was under the influence of auditors’ objection. The ld.Commissioner has recorded....
May 6, 2016 Case Laws Income Tax HC

Levy of interest under section 115P - It is not in dispute that dividend tax, under section 115P of the Act, was paid by the assessee well within 14 days of declaration.....
May 6, 2016 Case Laws Income Tax HC

Deduction u/s 10A - what is required to be excluded in the export turnover are only freight, telecommunication charges or insurance attributable to the delivery of......
May 6, 2016 Case Laws Income Tax SC

Amounts realised to meet the contingent sales tax liability of the assessee has since been refunded to the persons from whom the same was collected and also a finding......
May 6, 2016 Case Laws Income Tax SC

Disallowance under the Explanation under sub-section (4A) of section 80HHC - assessee is exporting directly to the buyers and also through export houses - submission of.....
May 6, 2016 Case Laws Income Tax SC

Disallowance of provisions of interest as the provisions amounted to unascertained liability - there is no estoppel against the Statute and the Act enables and entitles.....
May 6, 2016 Case Laws Service Tax AT

If the inspection of the seafood and analysis thereof as to adherence to the quality as prescribed, would fall under the category of “Technical Testing & Analysis......
May 6, 2016 Case Laws Service Tax AT

In the absence of any express or implied provision for retrospective applicability, an amending Notification No.33/2008-ST where the said proviso (e) was deleted would......

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