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Highlights / Annotations / Catch Notes For June of 2016

Home Highlights June June 2016 Year 2016

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Showing 251 to 300 of 485 Records

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June 17, 2016 Case Laws Central Excise

Denial of Cenvat credit of service tax paid by Unit-I for Unit-III - dependency and integral connection comes out, there cannot be denial of Cenvat credit of service tax....
June 17, 2016 Case Laws Central Excise

Tribunal discretion to refusal of to admit the appeal - appeal is dismissed only on the ground that amount is below threshold limit of ₹ 50,000/- without going......
June 17, 2016 Case Laws Income Tax

Addition u/s 40A(2) - excessive remuneration - whether the Revenue can tax the same income in the hands of the company on which the Directors had already paid the tax at....
June 17, 2016 Case Laws Income Tax

Deduction u/s 80-IC - buying jumbo rolls and slitting into smaller rolls - These rolls are converted into round strips and thereafter printing is done on such round......
June 17, 2016 Case Laws Income Tax

Disallowance on account of depreciation - The re-classification of asset at the most makes a benign shift in the claim of depreciation of machinery block and computer......
June 17, 2016 Case Laws Income Tax

Since the expenditure was incurred for purchase of Windows XP Professional, an application software for its office use and becomes obsolete very fast, it cannot be......
June 17, 2016 Case Laws Income Tax

Unexplained investment - The stand of the assessee is that he has no other source except agriculture income. He has saved this income from agriculture operation. Now, it....
June 17, 2016 Case Laws Income Tax

Penalty u/s 271(1)(c) - ALP determination - an honest difference of opinion between the assessee and the Revenue can never be a cause for imposition of penalty. - AT
June 17, 2016 Case Laws Income Tax

TDS - the services rendered by the non-resident agent can at best be called as a service for completion of the export commitment and would not fall within the definition....
June 17, 2016 Case Laws Income Tax

Transfer pricing adjustment - determination of ALP - Not only changing the tested party from the assessee to its AE, the CIT (Appeals) has also selected a domestic......
June 17, 2016 Case Laws Income Tax

Transfer pricing adjustment - determination of ALP - Once the CIT (Appeals) has rejected the entity level profit margin of the assessee for the purpose of bench marking.....
June 16, 2016 Case Laws Service Tax

Demand of service tax of the dissolved partnership firm from the erstwhile partners - Section 25 of the Partnership Act clearly mandates that all the partners are......
June 16, 2016 Case Laws Service Tax

Demand of interest - availment of ineligible credit of service tax on reverse charge basis - later on reversed without utilizing the same - the question of demand of......
June 16, 2016 Case Laws Service Tax

Valuation - the airport taxes as also the passenger service fees collected by the airlines on behalf of the airports and paid to them are not includable in the......
June 16, 2016 Case Laws Service Tax

Under Sub-section(3) of Section 73 no show cause notice can be issued if service tax along with interest is paid by the assessee. Therefore, there are no circumstances......
June 16, 2016 Case Laws Central Excise

Valuation - Disallowancwe of deduction for freight - no valid reason for disallowing the deduction for the freight paid inasmuch as the goods are FOR destination. - AT
June 16, 2016 Case Laws Central Excise

Interest on retrospective levy of duty as per Finance Act, 2011 is not chargeable for the period prior to date of enactment of Finance Act, 2011 i.e. 8.4.2011 - AT
June 16, 2016 Case Laws Central Excise

Exemption for manufacturing of body building on the procured chassis - condition on availing credit versus availing credit and reversing the credit @8% - whether the......
June 16, 2016 Case Laws Central Excise

Exemption under the Notification no. 6/2002 denied on the ground that only duplicate copy of the certificate was provided and original copy was not submitted - supply of....
June 16, 2016 Case Laws VAT and Sales Tax

Waiver of pre-deposit - if on cursory glance it appears that the demand raised has no leg to stand, it would be undesirable to require the assessee to pay full or even......
June 16, 2016 Case Laws Income Tax

Deduction of profit u/s 80IC - allegation of the revenue is that assessee did not have sufficient infrastructure and man power to manufacture the entire products on its.....
June 16, 2016 Case Laws Income Tax

Corporate Guarantee or Letter of Comfort given by the assessee to its Associate Enterprise does not involve any cost to the assessee, therefore, it was outside the ambit....
June 16, 2016 Case Laws Income Tax

Transfer pricing adjustment - It is not known how the Transfer Pricing Officer came to know that the volume and quality of services received by the assessee was......
June 16, 2016 Case Laws Income Tax

Allowance of loss arising on cancellation of contract due to price fluctuation where no actual delivery of cotton commodity - treating a loss to be speculative in nature....
June 16, 2016 Case Laws Income Tax

Interest expenditure has been expended to earn interest income. Sec. 56 does not postulate any condition about the rate of charging interest. The appellant explained the....
June 16, 2016 Case Laws Income Tax

If the Assessing Officer has time in his hands to issue notice u/s 143(2), why is he issuing notice u/s 148, we do not understand, specifically in the background of the.....
June 16, 2016 Case Laws Income Tax

Addition under the head ‘capital gains’- Agricultural land or not - The existence of well, septic tank, compound wall, cattle shed, pump house, a small house etc., would....
June 16, 2016 Case Laws Income Tax

Where the assessee has failed to produce the relevant information, details and record to support its case and which is also necessary to segregate such part of the......
June 16, 2016 Circulars Service Tax

CBEC issues instructions for Speedy disbursal of pending refund claims of exporters of services under rule 5 of the CENVAT Credit Rules, 2004
June 15, 2016 Circulars Income Tax

India-Mauritius Double Taxation Avoidance Agreement and related issues - Working Group to examine consequential issues arising out of amendment - Circular
June 15, 2016 Circulars Central Excise

Levy of excise duty on readymade garments and made articles of textiles bearing a brand name or sold under a brand name and having a retail sale price of ₹ 1000 or more - Circular
June 15, 2016 Case Laws Central Excise

Cenvat Credit - sending inputs for job work - As the lower Authorities did not adhere to the remand direction by the Tribunal to the full extent which is basically to......
June 15, 2016 Case Laws Central Excise

Extended period of limitation - Clearance of goods to sister establishment - Non reversal of credit on such goods before clearance - it has not been established as to......
June 15, 2016 Case Laws Central Excise

Admissibility of refund under Rule 5 of the Cenvat Credit Rules, 2004 against the supply of final product to SEZ - lower authority rejected the refund claim of the......
June 15, 2016 Case Laws Income Tax

Mesne profits - capital or revenue receipt - Once the Special Bench order of the Tribunal in Narang Overseas Pvt. Ltd., [2008 (2) TMI 817 - ITAT MUMBAI] has taken a view....
June 15, 2016 Case Laws Income Tax

Levy of penalty u/s 158BFA(2) - penalty has been levied on the amount of undisclosed income without providing any working of maximum and minimum penalty leviable - No penalty - AT
June 15, 2016 Case Laws Income Tax

Merely because the receipt for demolition expenses for demolishing the illegal structure on the same piece of land is in the name of the architect, the same cannot be......
June 15, 2016 Case Laws Income Tax

Priority of Adjustment of business loss against the Long Term Capital Gains and interest income - Section 71 does not states that the business loss has to be adjusted......
June 15, 2016 Case Laws Income Tax

The parties from whom the assessee has claimed to have purchased goods have admitted before the sales tax authorities that they have given only accommodation bills......
June 15, 2016 Case Laws Income Tax

AO of the searched person has merely intimated the details of search proceedings to the AO of the assessee and the same, in our considered view, shall not constitute......
June 15, 2016 Case Laws Income Tax

Long Term Capital Gains - sale of mutual fund units of HSBC - options to pay tax on LTCG @20% or 10% with or without indexation - Merely because the assessee has not......
June 15, 2016 Case Laws Income Tax

Rate of commission on accommodation entries - CIT(A) has applied correct estimate of rate of commission income @2% which is reasonable and appropriate - AT
June 15, 2016 Case Laws Income Tax

Sale and purchase of agriculture land - adventure in trade - Merely because of the fact that the land was sold for profit, it cannot be held that income arising from the....
June 15, 2016 Case Laws Income Tax

Exemption u/s 11 - Investment in shares in a Private Limited Company - The members of the assessee society were the directors only in the representative capacity in the.....
June 14, 2016 News GST

MODEL GST LAW - The proposed draft of GOODS AND SERVICES TAX ACT, 2016 - As per the draft there will be three laws (1) CGST Act, (2) SGST ACT and (3) IGST Act - Each......
June 14, 2016 Case Laws Central Excise

SSI Exemption - use of Brand/Trade mark or others - as long as assignment stands the assessee using the brand name is eligible for the benefit of SSI exemption notification - AT
June 14, 2016 Case Laws Central Excise

Calsiffication of Ladle Transfer Car (LTC) - ladle cars meant for receiving molten metal from a furnace is specifically mentioned in heading no.8454 - Demand set aside. - AT
June 14, 2016 Case Laws Central Excise

Valuation - excise duty on the sample bottles under Rule 8 of the Valuation Rules - nothing is flowing back to the manufacture from the distributors - genuineness of......
June 14, 2016 Case Laws Central Excise

Cenvat credit - the question of taking credit on POY contained in certain waste arising in process of manufacture of polyester texturised yarn would also not arise.......
June 14, 2016 Case Laws VAT and Sales Tax

Non-production of 'C'-Forms - Demanding a higher rate of tax under the CST Act, 1956 due to the non production of 'C' Forms - The appellants and petitioners are not......

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