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Highlights / Annotations / Catch Notes For June of 2012

Home Highlights June June 2012 Year 2012

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Showing 1 to 50 of 328 Records

12 3 4 5........ 7

June 30, 2012 News Indian Laws

Rates of Income Tax, TDS, TCS, and Depreciation etc. as amended.
June 30, 2012 Notifications Service Tax

Exemption in respect of services used in relation to export of goods - Notification
June 30, 2012 Notifications Service Tax

Rebate of service tax paid (hereinafter referred to as rebate) on the taxable services which are received by an exporter of goods (hereinafter referred to as the......
June 30, 2012 Case Laws Income Tax

Penalty u/s 271(1)(c) - sale of land - Only because the assessee agreed to the additions because of the deeming provisions it cannot be construed to be filing of......
June 30, 2012 Case Laws Income Tax

Dissolution of partnership - taxability of sum received by a partner - Any amount paid to a partner as his share on dissolution of the partnership firm cannot be......
June 30, 2012 Case Laws Income Tax

Set off of loss incurred on purchase and sale of shares as Ordinary Business Loss or Speculation Loss - assessee fell within the purview of the exception carved out in......
June 30, 2012 Case Laws Income Tax

Exemption claimed u/s 545EC on investment made in REC Bonds - investment was made 8.5 months prior to date of transfer of the property - benefit denied - AT
June 30, 2012 Case Laws Income Tax

Non-recovery of the advance made for the development of the product - bad debts or capital loss - amount advanced, which was subsequently not recovered is a business......
June 30, 2012 Case Laws Income Tax

The Commissioner while processing the application under Section 12AA of the Act was not to act as an Assessing Authority and thus, the Tribunal has rightly allowed the......
June 30, 2012 Case Laws Income Tax

Income from other sources set off against unabsorbed depreciation – business ceased to exist - no prejudice was caused to the Revenue not an erroneous order. - AT
June 30, 2012 Case Laws Service Tax

Services in relation to borrowed funds - Banking and Financial Services - Since issue involves interpretation of various provisions of law such as Article 246, 253 of......
June 30, 2012 Case Laws Service Tax

Business Auxiliary Service - Duty demand on collecting Passenger Service Fees (PSF) from the passengers who embark on a flight of the airlines - covered under BSS and......
June 30, 2012 Case Laws Service Tax

Denial of benefit of Notification No.12/2003-ST dated 20.6.2003 - commercial training and coaching - - value of study material supplied to students excluded - AT
June 30, 2012 Case Laws Service Tax

Having given no reason in order in original, for classifying the services rendered by the appellant under the category of "Commercial Construction and Industrial......
June 30, 2012 Case Laws Service Tax

Valuation (Service Tax) - Goods and materials sold by service provider to recipient of service - Retreading of tyres on job work basis - not entitled to the benefit of......
June 30, 2012 Case Laws Central Excise

Benefit of reduced penalty - When the legislature specifically fixes the time limit within which the duty with interest and penalty at 25% is to be paid for availing the....
June 30, 2012 Circulars Companies Law

Filing of Cost Audit Report (Form I) and Compliance Report (Form A) in the eXtensible Business Reporting Language (XBRL) mode. - Circular
June 29, 2012 Notifications Service Tax

Service Tax (Removal of Difficulties) Second Order, 2012. - Notification
June 29, 2012 Notifications Customs

Amends Notification No. 14/2012 – Customs (N.T.). - in the Table, against serial number 34, in column (2), for the words and brackets “Chief Commissioner of Customs......
June 29, 2012 Circulars Service Tax

D.O. letter dated 29-06-2012 by Joint Secretary (TRU-II). - Circular
June 29, 2012 Circulars Service Tax

Applicability of provisions of the Finance Act, 2004 relating to education cess and the Finance Act, 2007 relating to secondary and higher education cess– regarding. - Circular
June 29, 2012 News Indian Laws

Draft guidelines regarding implementation of General Anti Avoidance Rules (GAAR) in terms of section 101 of the Income Tax Act, 1961.
June 29, 2012 Circulars FEMA

Foreign Investment in India - Sector Specific conditions. - Circular
June 29, 2012 Circulars FEMA

Exim Bank's Line of Credit of USD 50 million to the Government of the Republic of Zambia. - Circular
June 29, 2012 Case Laws Companies Law

Dispute about the name of the company - petition against the order directing the petitioner, registered as a company in the name of "M/s International Trade and......
June 29, 2012 Case Laws Income Tax

Dis-allowance u/s 40A(2)(a) - remuneration paid to Directors - in absence of material on record to hold that payment of remuneration @ Rs. 3 lacs pm to the director was.....
June 29, 2012 Case Laws Income Tax

Financial lease - principal payments made towards financial lease - revenue or capital expenditure - assessee is not entitled to deduction of payment of principal amount....
June 29, 2012 Case Laws Income Tax

Levy of ‘education cess’ and ‘higher education cess’ - DTAA between India and Singapore - education cess cannot indeed be levied in respect of tax liability of the......
June 29, 2012 Case Laws Income Tax

Professional fees paid to the consultants in relation to cement project - capital expenditure or revenue expenditure? - Held as capital expenditure - HC
June 29, 2012 Case Laws Income Tax

MAT - Treatment of provision of site restoration fund made in accordance with the guidelines issued by the ICAI, then it cannot be said as contingent liability - held as....
June 29, 2012 Case Laws Service Tax

Manpower Recruitment and Supply Agency Services - gross salary - Since applicant is receiving commission on monthly salary, the applicants are covered under ‘Manpower......
June 29, 2012 Case Laws Service Tax

ST on Civil Work such as, foundation, control room, etc., and electrical work such as, earthing station, transformer etc. - They were under a bona fide belief that Works....
June 29, 2012 Case Laws Central Excise

Availment of cenvat credit on the basis of bill of entry, which is in the name of another unit of the appellant – credit allowed - AT
June 29, 2012 Case Laws Central Excise

Cenvat Credit - inputs and capital goods on which credit has been availed can be cleared without payment of duty under bond for export purposes - AT
June 29, 2012 Case Laws Central Excise

Marketability - excisable goods - goods in question are printed for the use of Central Railway only - No evidence to show that the goods in question are capable on......
June 28, 2012 Notifications Central Excise

Amends notification no. 12/2012-Central Excise - Prescribes effective rate of duty on goods falling under chapter 1 to 96. - Notification
June 28, 2012 Notifications Customs

Amends Notification 12/2012 – Customs - Prescribes effective rate of duty on import of goods. - Notification
June 28, 2012 Articles Indian Laws

GENERAL EXEMPTIONS AND ABATEMENTS IN SERVICE TAX - Article
June 28, 2012 Case Laws Income Tax

Extended benefit of exemption u/s 10A - assessee enjoyed the benefit of 5 years from 1993-94 to 1997-98 - amended provision came into force on 1-4-1999 - benefit of......
June 28, 2012 Case Laws Income Tax

Evaluation of closing stock - at Cost price or market price - conversion of partnership firm into a private limited company - closing stock of the erstwhile firm cannot.....
June 28, 2012 Case Laws Income Tax

Whether a preference given to lineal descendants over the general Parsis is sufficient enough to mar the registration of a trust whose objects are otherwise charitable -....
June 28, 2012 Case Laws Income Tax

Unabsorbed business loss – carry forward of losses - assessee shall be entitled to carry forward unabsorbed business loss only if such loss is computed based on a return....
June 28, 2012 Case Laws Income Tax

Deduction u/s 80IA - Rental income - letting out of Industrial park buildings - Income from House Property or of business income - AT
June 28, 2012 Case Laws Income Tax

Valuation of TV serials – the valuation of a news programmes done by the assessee subsequent to the first exploitation at 'nil' is a bonafide valuation. - AT
June 28, 2012 Case Laws Income Tax

Explanation versus bona finde explanation versus proper disclosure - Penalty under section 271(1)(c) - AT
June 28, 2012 Case Laws Income Tax

Partnership firm has been converted into company - no dissolution of the erstwhile firm and the company has been formed with the same partners as its shareholders - no......
June 28, 2012 Case Laws Central Excise

Demand of duty on scrap - the scrap has arisen on account of cutting of new sheets, plates, pipes for the purpose of replacing worn out pipes and it cannot be said that.....
June 28, 2012 Case Laws Central Excise

Paper transaction to claim Cenvat credit - carrying such a huge quantity by motor cycle or scooter is inconceivable - AT
June 27, 2012 Articles Indian Laws

RETROSPECTIVE EXEMPTIONS IN SERVICE TAX - Article
June 27, 2012 Articles Indian Laws

Dismissal of appeal of revenue by Bombay High Court about disallowance under Section 14A in case of Delite Enterprises - need proper understanding- an analysis. - Article

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