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Highlights / Annotations / Catch Notes For July of 2012

Home Highlights July July 2012 Year 2012

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Showing 301 to 350 of 411 Records

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July 10, 2012 Case Laws Central Excise

Storage of inputs outside the factory premises - Dis-allowance of Cenvat Credit - for a mere technical breach, the substantial benefit cannot be denied - AT
July 9, 2012 Case Laws Income Tax

Deduction u/s 80IB - Unit-2 & Unit-3 - The same product or same location, common procurement, manufacturing and common employees cannot be the basis to hold that the......
July 9, 2012 Case Laws Income Tax

Addition on account of non production of bills and non appearance of suppliers u/s 133(6) - un-served notice with the remarks “party left” means that earlier this party was there - AT
July 9, 2012 Case Laws Income Tax

Method of accounting - accounting standards reflecting the views of a professional body, viz., the ICAI are entitled to the highest respect and have to be followed and applied. - AT
July 9, 2012 Case Laws Income Tax

TDS u/s 194C - supply of plant and machinery of windmill, for civil/electrical works and erection and commission of windmill, is a composite work contract - No TDS - AT
July 9, 2012 Case Laws Income Tax

Applicability of provisions of sec. 40A(3) - cash payments exceeding Rs.20,000 - hardship or inconvenience - payments made by bearer cheques which had to be encashed in.....
July 9, 2012 Case Laws Customs

Non inclusion of cost of bagging charges in the Bills of Entry - bagging has been done before out of charge in the Customs area - decided in favour of assessee - AT
July 9, 2012 Case Laws Customs

Import of Zircon - Whether Zircon is “Ore“ - Zircon Ore and Concentrate - Permission to clear goods in question without payment of CVD - permission granted - HC
July 9, 2012 Case Laws Service Tax

When the situation is revenue neutral and the appellant manufacturer is entitled to CENVAT Credit, it cannot be said that there was an intention to evade duty and......
July 9, 2012 Case Laws Service Tax

Refund of the service tax, - Notification No 41/2007 - Grant of refund of duty or any other sum due to an assessee should not be denied for mere technical or procedural.....
July 9, 2012 Case Laws Service Tax

Valuation under service tax - inclusion of TDS (withholding tax) where burden born by the recipient (payer) in the gross value - Amount of TDS is required to be......
July 9, 2012 Case Laws Central Excise

SSI Exemption - Notification No.8/2002 - Since, respondent is a manufacturing unit owned and controlled by the State Government, hence respondent is squarely covered......
July 7, 2012 Circulars FEMA

Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR. - Circular
July 7, 2012 Circulars Companies Law

Filing of Balance Sheet and Profit and Loss Account in Extensible Business Reporting Language (XBRL) Mode for financial year commencing on or after 1.4.2011. - Circular
July 7, 2012 Circulars DGFT

Export of additional 4,476 MTs of raw sugar to USA under Tariff Rate Quota. - Public Notice
July 7, 2012 Circulars DGFT

Introduction of electronic Bank Realization Certificate (e-BRC) system. - Public Notice
July 7, 2012 Case Laws Income Tax

TDS - Merely because the assessee mentioned section 194J in the TDS return by itself is not sufficient to put the assessee in default for short deduction and late......
July 7, 2012 Case Laws Income Tax

Admissibility of claim of deduction not made in the original return and not supported by a revised return - deduction u/s 43B - The appellate authorities have the......
July 7, 2012 Case Laws Income Tax

Purchase and sale of shares - there is no bar for an assessee to maintain two separate portfolios, one relating to investment in shares and another relating to business.....
July 7, 2012 Case Laws Income Tax

Assessee's entitlement for amortization u/s 35-D - expenses related to the 'Euro issue' - the word "expansion" in relation to industrial activity gives the meaning as......
July 7, 2012 Case Laws Income Tax

Re-computation of income tax liability - to adopt the maximum marginal rate of 40% applicable under Section 164(1) - the maximum marginal rate could not be applied to......
July 7, 2012 Case Laws Income Tax

Once under the special provision of section 44AD exemption from maintenance of books of accounts have been provided and the presumptive tax at 8% of the gross receipts......
July 7, 2012 Case Laws Income Tax

Addition made in the book profit u/s 115JB - claim of interest capitalized in earlier years written off during the current year - creation of provision for employee benefits - AT
July 7, 2012 Case Laws Income Tax

Income recognition - income accrued - assessee received consultancy fees from UG Hospitals Pvt. Ltd.for the term of five years - assessee’s reliance of AS-9 issued by......
July 7, 2012 Case Laws Income Tax

Justification of power of CIT(A) in restoring the matter back to the file of AO - Even if the appeal had been filed after amendment to section 251(1)(a) the order as......
July 7, 2012 Case Laws FEMA

FERA – penalty - payments made for being remitted outside India with a view to acquire US$ 25000/- by such appellant would not be in violation of Section 9(1)(f)(i) of the FERA - HC
July 7, 2012 Case Laws Customs

Penalty on directors of company – In the absence of any duty liability on the main Company, the provisions of Section 112 and 117 for imposition of penalties on the......
July 7, 2012 Case Laws Service Tax

Export of goods - refund of cenvat credit on the ground that the appellant is not eligible for the refund of service tax paid on input services i.e. on Terminal Handling Charges - AT
July 7, 2012 Case Laws Service Tax

Penalty under Section 76 and 78 simultaneously -show cause notice is issued to the appellant on 18.6.2008 and whereas the amendment to Section 78 was carried out on......
July 7, 2012 Case Laws Service Tax

Re-credit of Cenvat credit – service tax paid by utilising the Cenvat credit accumulated which was not allowed - appellants are allowed to re-credit the amount in their.....
July 7, 2012 Case Laws Service Tax

Refund claim - appellant, a 100% EOU - refund claim of service tax paid by them, as per the provisions of Notification No. 41/2007-ST - Appeal by revenue against order......
July 7, 2012 Case Laws Central Excise

Once the duty on final products has been accepted by the department, CENVAT credit availed need not be reversed even if the activity does not amount to manufacture. - HC
July 6, 2012 Circulars Service Tax

Accounting Code for payment of service tax under the Negative List approach to taxation of services, with effect from the first day of July 2012 - regarding. - Circular
July 6, 2012 Circulars Service Tax

Clarification on Point of Taxation Rules - regarding. - Circular
July 6, 2012 Case Laws Income Tax

Regarding disallowance of Security Transaction Tax - The assessee is only a broker who has collected STT on behalf of the stock exchanges and has paid the same to the......
July 6, 2012 Case Laws Income Tax

Transactions in shares - in case of brokers loss arising on account of purchase and sale of shares under forced circumstances and under compulsion will not be covered by....
July 6, 2012 Case Laws Income Tax

Exemption u/s 11 - amount of unrecoverable fee, treated as bad debts, is also allowable to the appellant trust while computing its surplus and application of its income.....
July 6, 2012 Case Laws Income Tax

The expression "full value of sale consideration" is not the same as "fair market value" as appearing in section 55A. - AT
July 6, 2012 Case Laws Income Tax

Scope of reference u/s.55A vis-a-vis section 50C of I.T. Act. - for the purposes of the computation of capital gain u/s. 48, a reference can be made to DVO only in a......
July 6, 2012 Case Laws Income Tax

Deduction under Section 80-IA - preparing of designs and drawings - Activity of the assessee falls within the meaning of the word 'manufacture' or produce used in Section 80-IA - HC
July 6, 2012 Case Laws Income Tax

TDS - assessing authority has issued certificates authorizing the payment without deduction of tax - payer cannot be treated as an assessee in default even if tax is......
July 6, 2012 Case Laws Income Tax

Inclusion of any sum u/s 68 in the hands of the assessee - Merely because the transactions are through bank channels, the assessee would not be entitled to the benefit - HC
July 6, 2012 Case Laws Service Tax

Extended period - authorised service station for Maruti - Service tax cannot be collected twice on the same service and this is the basic principle of law - AT
July 6, 2012 Case Laws Service Tax

Cenvat credit and trading of goods - trading activity is not an exempted service and credit is not admissible on the input services in respect of the trading activity. - AT
July 6, 2012 Case Laws Central Excise

Suppression of fact - cenvat credit LDO - When there is a specific exclusion on availment of input credit, the submission that there was no suppression of this fact just....
July 6, 2012 Case Laws Central Excise

Valuation - job work - inclusion of job work charges in the value – in case value of comparable goods is known, the same can be adopted for goods manufactured by the job worker. - AT
July 6, 2012 Case Laws Central Excise

Marketability of goods - bus body parts manufactured and supplied to their divisional office – not available in market no point of levy of duty - AT
July 5, 2012 Circulars Customs

Verification of genuineness, of duty credit scrips issued under Chapter 3 of FTP, before registration. - Circular
July 5, 2012 Circulars Customs

Amendment in para (4) of Circular No. 38/2010-Customs, dated 27.09.2010-Served From India Schemes(SFIS) – reg:- - Circular
July 5, 2012 Notifications Customs

Amends Notification No.52/2012-CUSTOMS (N.T.) - Rate of exchange of conversion of each of the foreign currency with effect from 22nd June, 2012. - Notification

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