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Highlights / Annotations / Catch Notes For June of 2015

Home Highlights June June 2015 Year 2015

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Showing 101 to 150 of 420 Records

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June 24, 2015 Case Laws Customs

Effective date and time of effective Rate of Duty - notification may have been published on the date when the goods were cleared, it was not offered for sale by the......
June 24, 2015 Case Laws Customs

Effective date and time of effective Rate of Duty - bill of entry was filed filed on 03.08.2001 - notification was sent for publication after the normal office hours,......
June 24, 2015 Case Laws Customs

Levy of anti dumping duty - noticee did not cooperate in the inquiry or furnishes the requisite material - while carrying out the "best judgment assessment", it is......
June 24, 2015 Case Laws Companies Law

Charges of oppression and mismanagement - the petitioners have sought cancellation of various Returns filed by the Company with the Registrar of Companies in the year......
June 24, 2015 Case Laws Income Tax

Computation of capital income - Tribunal having held the appellant's agricultural income to be ₹ 9 lacs as against the claim of ₹ 12 lacs - computation of......
June 24, 2015 Case Laws Income Tax

Deduction u/s 80-IC - assessee is entitled to only 25% of deduction during the present year because the assessee has already availed the period of full deduction @ 100%.....
June 24, 2015 Case Laws Income Tax

Disallowance of losses from activity of horse breeding and owning and maintaining race horses - The activity of breeding of horses is similar to that of poultry or......
June 24, 2015 Case Laws Income Tax

Non-granting of registration u/s 12A - If the registration is granted to the assessee u/s 12A of the Act, then, it will open pandora's box and everybody will claim......
June 24, 2015 Case Laws Income Tax

Entitlement to benefit of deduction u/s. 54F - In the instant case the lease is for a period of 999 years subject to renewal for further period of 999 years. - it cannot....
June 24, 2015 Case Laws Income Tax

Penalty Order u/s. 271(1)(b) r.w.s. 274 - assessee has never been put to the notice to explain as to why penalty should not be imposed under section 271(1)(b) - penalty waived - AT
June 24, 2015 Case Laws Income Tax

Time limit for filing revised return had already elapsed. - revised computation submitted by the assessee during assessment proceedings - revised computation was rightly....
June 24, 2015 Case Laws Income Tax

The main activity of the assessee was not earning rental income rather it was an activity of trading in the flats. Rental was an incidental income - rental income is to....
June 24, 2015 Case Laws Income Tax

Invoking the provisions of Section 172 r.w.s. 163 - The assessment was thus framed almost three years after the end of the relevant previous year. Viewed in this......
June 24, 2015 Case Laws Income Tax

Disallowance u/s 40(a)(i) - 'Export Sales Commission' payments made to the non resident u/s.195 - section 195 would only apply if the payment in question is taxable as.....
June 23, 2015 Notifications Income Tax

Rule 12 of the Income Tax Rules, 1962 - Now ITR-1 and ITR-4S can be filed where exempted income exceeds ₹ 5000 alongwith Salary Income or House Property Income or.....
June 23, 2015 Case Laws Income Tax

Denial of deduction u/s 80IC - no merit in the claim of the assessee vis-à-vis deduction under section 80IC of the Act in respect of the interest received from HIMUDA,......
June 23, 2015 Case Laws Companies Law

Control of Yes Bank - Right to Nominate is not in the nature of a ‘contract of personal service’ and was not limited to the two individuals in question. There is no......
June 23, 2015 Case Laws Companies Law

The Articles of a company are to it very like what the Constitution is to citizens. Shareholders are truly ‘invested’ in the enterprise: not merely for making profits......
June 23, 2015 Case Laws Service Tax

Levy of Penalty u/s 76 - mandatory or any discretion is left with the authorities for imposing such penalty - no reason why the Authorities should depart from imposing.....
June 23, 2015 Case Laws Service Tax

Recovery of service tax - Recovery before adjudication of upon the matter and fixed the quantum of service tax - the recovery which is being made that smacks with......
June 23, 2015 Case Laws Service Tax

Commercial Training and Coaching service - Valuation - Amount recovered towards expenses such as textbooks, uniform, medical check-up, insurance etc is not required to......
June 23, 2015 Case Laws Service Tax

Levy of penalty - keeping in view the amendments to the Notification 24/2004 which introduced changes in the definition of vocational training, a fair case is made out......
June 23, 2015 Case Laws Service Tax

CENVAT Credit - Input Service Distributor (ISD) - There was no provision that the cenvat credit distributed by the Head Office as input service distributor should be in.....
June 23, 2015 Case Laws Central Excise

Transfer of CENVAT Credit - Sale of manufacturing unit alongwith raw material and semi finished goods - It is permitted even to transfer the Cenvat credit to the buyer.....
June 23, 2015 Case Laws Central Excise

Cenvat credit - Runner Mass in the nature of input or capital goods - Held as Input - Considering it is only a question of interpretation and there is no suppression......
June 23, 2015 Case Laws Companies Law

Rectification in Register of Members - the technical points raised by the Petitioners as to the non-compliance of guidelines for "Good /Bad Delivery" by the Respondent......
June 23, 2015 Case Laws Companies Law

Rectification in the Register of Members - Section 111 (4) of the Companies Act, 1956 - Shares transferred fraudulently - Doctrine of estoppel - Period of limitation -......
June 23, 2015 Case Laws Income Tax

The extra shift allowance has to be calculated on the basis of number of days in which the factory had worked for extra shift and not on the basis of individual......
June 23, 2015 Case Laws Income Tax

Community development expenditure - business is not static and over a period of time, it would include within its fold the care and concern for the society at large......
June 23, 2015 Case Laws Income Tax

Transfer pricing adjustment - ALP - selection of comparables - The risk undertaken and the assets employed by a software development company cannot be compared to a BPO company. - AT
June 23, 2015 Case Laws Income Tax

Rejection of books of accounts - Each year have to be examined independently based on facts and materials on record, because, the matter pertaining to rejection of books....
June 23, 2015 Case Laws Income Tax

Deduction u/s. 54F - construction of residential property - payment made to builder - construction was not complete in respect - No condition that it should be occupied....
June 23, 2015 Case Laws Income Tax

Addition on capital gain - invocation of provisions of section 50C - Joint Venture (JV) Since the assessee has not received any consideration in lieu of any transfer of.....
June 23, 2015 Case Laws Income Tax

Income from the house property - premises used for the purposes of the business in which he was a partner - annual value is to be determined as per the provisions of......
June 23, 2015 Case Laws Income Tax

Exemption u/s. 10A - AO has held that the assessee has used the secondhand laptops which are in the nature of plant and machinery - Conclusion drawn by AO is erroneous - AT
June 23, 2015 Case Laws Income Tax

TPA - CIT(A) has examined the agency agreement and held that that certain adjustments on account of functional differences between a person who acts as ‘principal to......
June 22, 2015 Case Laws Service Tax

Refund - Cenvat credit of input services used in exported output services - essential services, used by Call Centres for provision of their output services would qualify....
June 22, 2015 Case Laws Service Tax

Valuation - assessee entitled for deduction of the value of the goods supplied during repair of the transformer - the impugned demand would not survive as the demand......
June 22, 2015 Case Laws Service Tax

Business Auxiliary service - Job work - Manufacture - When there is a chemical reaction involved, the finished goods coming after the chemical reaction cannot be said to....
June 22, 2015 Case Laws Central Excise

Manufacture - replicating certain Microsoft software on CDs/DVDs - prima facie, the applicant will be required to pay duty on the said goods - cannot be called......
June 22, 2015 Case Laws Central Excise

Goods meant for power project - international competitive bidding (ICB) - When a particular condition cannot be satisfied, its fulfilment cannot be insisted in......
June 22, 2015 Case Laws Central Excise

Denial of CENVAT Credit - In the absence of any cogent evidence against the respondent, the charge of availment of fraudulent CENVAT Credit on melting scrap on the......
June 22, 2015 Case Laws Companies Law

Entitlement of contractual rate of interest by secured creditor for the post winding up period - Surplus amount available before such amount is distributed among the......
June 22, 2015 Case Laws Income Tax

Addition u/s 43B - presumptive assessment u/s 44AF - disallowance made by the AO by invoking the provisions of Sec. 43B of the Act in respect of the statutory......
June 22, 2015 Case Laws Income Tax

Income from house property - if the interest free loan is repaid by interest bearing loan funds, the interest on such loan is allowable for deduction u/s 24(b) of the Act - AT
June 22, 2015 Case Laws Income Tax

Rectification of order u/s 154 - AO disallowed to the assessee excess duty, penal interest - interest on excise duty to be allowed to payment basis only and not on......
June 22, 2015 Case Laws Income Tax

Penalty u/s 271(1)(c) - addition so made does not affect either reducing the loss declared in the return or converting the loss declared in the return into income. The.....
June 22, 2015 Case Laws Income Tax

Disallowance u/s 14A r.w.r. 8D(2)(iii) - AO was duty bound to record his dissatisfaction that the working of the disallowance made by the assessee under section 14A of.....
June 22, 2015 Case Laws Income Tax

Leave and licence income - the lease rent received by the assessee is assessable as income from business in the hands of the assessee and the related expenditure has to.....
June 22, 2015 Case Laws Income Tax

Disallowance of speculation loss from trading in gold bullions -assessee in fact transacted in gold and bullions in the normal course of business to earn profit. No......

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