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Highlights / Annotations / Catch Notes For June of 2013

Home Highlights June June 2013 Year 2013

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Showing 251 to 300 of 365 Records

1 ....2 3 4 567 8

June 8, 2013 Case Laws Income Tax

Transfer pricing – difference due to foreign exchange rate fluctuation should be considered the said difference has to be removed and the margin thereon has to be......
June 8, 2013 Case Laws Income Tax

Transfer pricing adjustment - The financial position and credit rating of the subsidiaries will be broadly the same as the holding company - domestic prime lending rate.....
June 8, 2013 Case Laws VAT and Sales Tax

Classification - Exemption - the powder form of chilly, turmeric and coriander are no different from chilly, turmeric and coriander - HC
June 8, 2013 Case Laws VAT and Sales Tax

Revision u/s 11(1) - Tribunal enhanced the tax liability by making a fresh estimation. - Tribunal is a final fact finding authority, no interference is required - HC
June 7, 2013 Case Laws Central Excise

Collection of reversal of cenvat credit from Customers - Recovery order issued by the Department on the basis of Section 11D of the Act was absolutely illegal and is......
June 7, 2013 Case Laws Central Excise

Extended period of limitation - mens rea - absence of any deceitful practice - duty demand sustained by the Tribunal isnot correct - HC
June 7, 2013 Case Laws Central Excise

Extended period of limitation - discrepancy in filing of return - the findings that the officers receiving the Returns had all the information to enable him to verify......
June 7, 2013 Case Laws Central Excise

Refund - unjust enrichment - burden to prove and to rebut - All the authorities have concurrently found that the assessee has failed to discharge that burden - no......
June 7, 2013 Case Laws Service Tax

Cenvat Credit on service tax on inward transportation - removal of inputs as such - reversal of cenvat credit is not required - AT
June 7, 2013 Case Laws Service Tax

A new service was introduced for ATM service covering various other activities in relation to ATM service cannot be interpreted to mean that prior to that date......
June 7, 2013 Case Laws Customs

Conviction u/s 22 of the Narcotic Drugs and Psychotropic Substances, Act, 1985 - smuggling - Evidence of this case is sufficient to prove the guilt of the accused beyond....
June 7, 2013 Case Laws Customs

Refund of SAD - Interest on belated refund - When the circular is contrary to the provisions of act, it has to be struck down as bad - interest allowed - HC
June 7, 2013 Case Laws Income Tax

Letting out of 3rd floor to another company for commercial purpose proves that what has been constructed is not a hospital but a commercial property - Renewal of......
June 7, 2013 Case Laws Income Tax

Claim of set off against the surrendered income - in case, the surrendered amount is treated as an income from business, then assessee is entitled to get set off - HC
June 7, 2013 Case Laws Income Tax

Assessment in pursuance of research u/s 153A - It is not open for the assessee to seek deduction or claim expenditure which has not been claimed in the original assessment - HC
June 7, 2013 Case Laws Income Tax

Deduction u/s 80-IB/80-IC - assembling of air conditioner, DVD, microwave would fall within the ambit of expression “manufacture“. - AT
June 7, 2013 Case Laws Income Tax

Addition of interest in the assesee’s income - assessee was custodian of money of Central Government and GHB/SGCC - addition deleted - AT
June 7, 2013 Case Laws Income Tax

Difference between the excess stock and closing stock would reveal that the assessees purchased stock using unexplained money - addition u/s 69A and penalty u/s......
June 7, 2013 Case Laws Income Tax

Additional deprecation - the freight charges and other charges are directly linked to the purchase of plant and machinery and cannot be delinked. - AT
June 7, 2013 Case Laws Income Tax

Disallowance u/s 40A(3) - when income of the assessee was computed by applying the gross profit rate, there was no need to look into the provision of section 40A(3) - AT
June 7, 2013 Case Laws Income Tax

Estimation of income based on MRP - retail trade in liquor - estimate of net profit above 5% of the purchases made by the assessee is to be adopted - AT
June 7, 2013 Case Laws Income Tax

Exemption u/s 11 - revocable transfer - Just because seller had sold the properties and given the money to the assessee, that would not be sufficient to hold that there.....
June 7, 2013 Case Laws Income Tax

Penalty u/s 158BFA(2) - willful attempt - assessee has given the explanation in respect of source of jewellery - no case of imposition of penalty - AT
June 7, 2013 Case Laws VAT and Sales Tax

No availability of Form ST 18 A with truck - No notice to assessee - firm cannot be represented through the driver of the vehicle in absence of any authority given to......
June 7, 2013 Case Laws VAT and Sales Tax

Penalty u/s 54(1)(14) of UPTT - seizure of goods as the weight of the consignment was more than that disclosed - petty quantity of goods - no intention of evaision of......
June 6, 2013 Case Laws Central Excise

Maintainability of appeal before High Court - SSI Exemption - whether issue of SSI exemption is an issue of determination of rate of duty - Held yes, appeal not......
June 6, 2013 Case Laws Central Excise

Refund - The refund claims were declined only on one ground, without challenging the determination of annual capacity of production, the processor could not have......
June 6, 2013 Case Laws Central Excise

Tribunal was not right in ordering that the appeal of the petitioner shall stand automatically dismissed in case the amount as directed by the Tribunal is not deposited. - HC
June 6, 2013 Case Laws Service Tax

Cenvat Credit - There is no provision in the CENVAT Credit rules to deny proportional credit on the inputs which were used in providing the output service on which......
June 6, 2013 Case Laws Service Tax

Penalty - Short payment of service tax - payment prior to issue of show cause notice (SCN) - section 73(3) - penalty set aside - AT
June 6, 2013 Case Laws Customs

Private bonded warehouse - discrepancy in stock register - customs authorities and the Police Department of the State opposing each other in a petition instituted by the....
June 6, 2013 Case Laws Indian Laws

Debut recovery - auction - Suffice it to say that the use of the words “as far as possible“ in Section 29 of RDDB Act simply indicate that the provisions of the Income......
June 6, 2013 Case Laws Income Tax

Order of settlement commission - power to rectify its own order - impermissible and beyond the jurisdiction of the Commission - HC
June 6, 2013 Case Laws Income Tax

Penalty u/s 271(1)(c) - merely for the reason that the assessee has claimed the expenditure to be revenue will not render the assessee liable to penalty proceedings. - no penalty - HC
June 6, 2013 Case Laws Income Tax

Deduction u/s 80IA and 80IB - the benefits of DEPB would constitute independent source of income beyond the first degree nexus between the profits and the industrial undertaking - HC
June 6, 2013 Case Laws Income Tax

Addition u/s 41 - no allowance or deduction had been made in the assessment of the assessee in any earlier year - Consequently, there is no question of invoking section 41(1) - HC
June 6, 2013 Case Laws Income Tax

Interest income - zero coupon money - interest earned by investing the surplus share money in bank deposits, such interest is taxable as income from other sources and......
June 6, 2013 Case Laws Income Tax

Re opening of assessment - before issuance of notice u/s 148 reasons were recorded for one issue only - reaons for other two issues were recorded after issuance of ......
June 6, 2013 Case Laws Income Tax

As per S. 179(1) a director cannot be held liable for interest/penalty and thereupon be treated as an assessee u/s 2(7) as a person by whom any tax or any other sum of......
June 6, 2013 Case Laws VAT and Sales Tax

Hardship in following VAT Rules - filing of Forms - it is well settled that equity has no place in taxing laws - a statutory rule cannot be said to be unreasonable......
June 6, 2013 Case Laws Companies Law

Constitutional bench - Central Chit Funds Act - supriority of Central Law over state laws - Repugnancy arises on the making and not commencement of the law - SC
June 5, 2013 Case Laws Income Tax

Re opening of assessment - non inclusion of excise duty in the closing stock - The assessment year being 1997-98 - the provisions of section 145A inserted by the Finance....
June 5, 2013 Case Laws Central Excise

Interest on Refund u/s 11BB - claim of interest on interest - Department cannot avoid the liability of accounting for interest on the delayed payment of interest to the.....
June 5, 2013 Case Laws Central Excise

Penalty - benefit of reduced penalty of 25% u/s 11AC - option to avail - the assessee should be made aware of the option available to him. - HC
June 5, 2013 Case Laws Central Excise

Tribunal dismissed the appeal despite the adjournment sought by the appellant - The order passed by the Tribunal being contrary to the principles of natural justice - HC
June 5, 2013 Case Laws Central Excise

Rebate claim rejected by the revision authority on the ground that ARE-1 has not been prepared and produced by the petitioner. - matter remanded back for reconsideration - HC
June 5, 2013 Case Laws Central Excise

Clandestine removal - entries in Note Book - The action of the department was on the basis of suspicion alone. Law does not permit additions to be made on that basis. - HC
June 5, 2013 Case Laws Service Tax

Cargo handling service - once activity carried out is found to be loading or unloading of cargo such activities is covered by category of cargo handling service - AT
June 5, 2013 Case Laws Service Tax

Valuation - inclusion - forward contract service - the turnover charges and other identical statutory charges are not in the nature of commission or brokerage and......
June 5, 2013 Case Laws Service Tax

Refund - provision of services to SEZ - consumption in SEZ - services in relation to authorized operations - refund allowed - AT

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