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Highlights / Annotations / Catch Notes For May of 2016

Home Highlights May May 2016 Year 2016

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Showing 601 to 646 of 646 Records

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May 3, 2016 Case Laws Income Tax AT

Non granting of depreciation on earned tools used for the business - tools and machineries, which are purchased by the assessee, are not eligible for depreciation but......
May 3, 2016 Case Laws Income Tax AT

Treatment to commission income - commission income earned by the assessee is chargeable to tax under the head of "Profits and gains of the business" only. As business,......
May 3, 2016 Case Laws Income Tax AT

Entitlement to exemption u/s 11(2) - Since the assessee has followed the procedure for accumulation except for the technical lapse, which can be condoned and since the......
May 3, 2016 Case Laws Income Tax AT

Exemption u/s 54F - the amendment to provision of section 54F is effective from April 1, 2015, which makes it clear that benefit of section 54F will be applicable to one....
May 3, 2016 Case Laws Income Tax AT

Incomes received from leasing out of hotels - exploitation of a commercial asset - lease rental received by the assessee is to be taxed under the head "Income from business" - AT
May 3, 2016 Case Laws Income Tax AT

FBT - Concessional rate of tax prescribed under rule 8 of the Income-tax Rules to determine the taxable value of fringe benefits - Assessee-employer shall be entitled to....
May 3, 2016 Case Laws Income Tax AT

AO was in error in disallowing the trade discount u/s 40A(2)(a) since trade discount allowed to sister concerns cannot be considered as an item of expenditure incurred......
May 3, 2016 Case Laws Income Tax AT

Addition u/s 40A(2)(a) - trade discount allowed by the assessee to its sister concerns - discount allowed to sister concerns were not unreasonable and cannot be......
May 2, 2016 Circulars VAT and Sales Tax

DVAT - A drive to motivate the officers to acquire knowledge of the Delhi Value Added Tax Act, 2004, Central Sales Tax Act, 1956, other relevant Acts, Rules and......
May 2, 2016 Notifications Income Tax

TCS - Time and mode of payment to Government account of tax collected at source under section 206C.
May 2, 2016 Notifications Income Tax

TDS returns - Due dates - Rule 31A prescribing due dates for furnishing TDS statements amended
May 2, 2016 Notifications Income Tax

TDS on salary - Time and mode of payment to Government account of tax deducted at source or tax paid under sub-section (1A) of section 192
May 2, 2016 Notifications Income Tax

TDS on salary - Furnishing of evidence of claims by employee for deduction of tax under section 192 - CBDT Notified new Rule.
May 2, 2016 Case Laws Income Tax AT

Addition u/s 40A(2)(b) - AO has failed to prove that the payment made to the directors was excessive having regard to the fair market value of the said goods or services....
May 2, 2016 Case Laws Income Tax AT

Addition u/s 68 - Subscription of share capital - The FAA has mentioned that the incidence of price rigging took place in the month of December of the succeeding year......
May 2, 2016 Case Laws Income Tax HC

Depreciation on the new Turbine Generator (TG) set - extent of user is not the basis of allowing depreciation under Section 32 of the Act - Tribunal rightly allowed......
May 2, 2016 Case Laws Income Tax HC

Amount of repayment - deductiblility in computing the income in the year of receipt - Once it is clear that the liability arose on the date of the contract but what was.....
May 2, 2016 Case Laws Income Tax AT

Transfer pricing adjustment - The provisions were not incorporated to make adjustment at any cost and ignoring the basic facts - No adjustment to be made if transaction.....
May 2, 2016 Case Laws Income Tax AT

Issue of shares at a premium by the petitioners to its non -resident holding company does not give rise to any international transaction, that in such a case application....
May 2, 2016 Case Laws Income Tax AT

Registration u/s 12A - When the assessment is carried out by QCI, the assessed body is required to pay assessment fee to the assessee based on the cost incurred - As the....
May 2, 2016 Case Laws Income Tax AT

TDS u/s 194C - payments to camera attendants engaged on 'ad-hoc' basis for a day or two or as and when required basis - would not amount to contract for carrying out of.....
May 2, 2016 Case Laws Income Tax AT

Penalty u/s. 271(1)(c) - as assessee did not prefer an appeal due to smallness of the tax involved that does not mean that there is concealment of income, more so, by......
May 2, 2016 Case Laws Income Tax HC

Clubbing of income of a daughter at the hands of her father - property of M/s. Parbati Engineering Works belongs to his wife or minor daughter, income of such property......
May 2, 2016 Case Laws Income Tax AT

Nature of lease rent - revenue or capital in nature - AS per AS-19, assessee charged depreciation on the asset treating the whole transaction as capital in nature, could....
May 2, 2016 Case Laws Income Tax AT

Discount allowed to distributors in respect of prepaid cards - section 194H are not applicable - no TDS liability - AT
May 2, 2016 Case Laws Income Tax HC

Expenditure incurred on brand creation - Spread of the brand expenses over a period of five years was actually in the nature of deferred revenue expenditure and the......
May 2, 2016 Case Laws Income Tax HC

Interpretation of Total Turnover & Export Turnover under 10A - there should be uniformity in the ingredients of both the numerator and the denominator of the formula - HC
May 2, 2016 Case Laws Income Tax AT

TDS - Transactions of downloading of photographs for exclusive one time use for publication in the magazine did not fall within the provisions of relevant Article 12 of.....
May 2, 2016 Case Laws Income Tax AT

TDS - placing the magazines on the back of the seats of the aircraft - Sharing of incremental advertisement revenue shall not fall within the provisions of section 194C - AT
May 2, 2016 Case Laws Income Tax AT

Capital loss V/S business loss - nature of loss - merely because the assessee abandoned the project after paying advance of ₹ 50 laks, that cannot be a reason for.....
May 2, 2016 Case Laws Income Tax AT

Since the assessee has treated the securities as investment and not as stock in trade in all the years, therefore, in view of the CBDT Circular No. 6/2016 dated......
May 2, 2016 Case Laws Income Tax AT

Estimation of gross profit - the sale price of the product sometimes may be less than the purchase price when the market trend is going down. Therefore, based on the......
May 2, 2016 Case Laws Income Tax AT

TDS liability - FTS - the consideration paid under the secondment agreement was not “fees for technical services” because the fact that the seconded employee was......
May 2, 2016 Case Laws Income Tax AT

Addition on account of gift u/s 56(2)(v) - the gift was received from friend before the amendment provision come on to the statute books i.e. 02.07.2004 therefore......
May 2, 2016 Case Laws Income Tax AT

TDS u/s 195 - payment to non-resident for the purpose of testing charges FTS paid to KEMA Netherlands and CESI, Italy, TDS is, therefore, deductible u/s 195 - AT
May 2, 2016 Case Laws Wealth-tax AT

Inclusion of Agricultural lands for the purpose of wealth tax - Once the lands are classified as agricultural lands, in the revenue records of Government and used for......
May 2, 2016 Case Laws Service Tax AT

When the provision of construction service has been completed prior to 01/04/2011 denial of credit only because of the delay in issuing the invoice is not justified as......
May 2, 2016 Case Laws Service Tax HC

Cenvat credit - Common Input services belongs to three units but whole of the credit was availed at one unit - assessee has been able to prove that all the three units......
May 2, 2016 Case Laws Central Excise HC

Maintainability of appeal before the High Court - SSI Exemption - only question that arises for consideration in these appeals is as to whether the clearances made by......
May 2, 2016 Case Laws Central Excise HC

Cenvat credit - Duty paying documents - only upon the invoices being issued, the cenvat credit, on the strength of such documents could be availed by the manufacturer -.....
May 2, 2016 Case Laws Central Excise HC

If the duty ordered to be refunded u/s 11B(2) is not refunded within three months from the date of receipt of the application u/s 11B(1), then, the award of interest......
May 2, 2016 Case Laws Central Excise HC

Once the Assistant Commissioner approached the matter in terms of Section 11B of the Act but the amount as directed to be refunded was not refunded within the time......
May 2, 2016 Case Laws Central Excise HC

100% EOU - manufacture of garbage bags - we are not assisted in any manner by such a short and cryptic order of the Tribunal and the Tribunal's order impugned in these......
May 2, 2016 Case Laws Central Excise HC

Export of goods - Failure to furnish ARE 1 and proof of export of goods as required under Rule 19 of the Rules - Order in appeal as well as revisionary order passed by......
May 2, 2016 Case Laws VAT and Sales Tax SC

Waiver of pre-deposit under APGST Act - It is always open to the petitioner to file appropriate proceedings before ADC seeking stay in the appeal filed or by filing a......
May 2, 2016 Case Laws VAT and Sales Tax HC

Refund of un-utilized input tax credit - Review and Revision u/s 75 of the GVAT Act - writ petition - remedy of appeal u/s 73 - There is no merit in the contention of......

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