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Highlights / Annotations / Catch Notes For July of 2012

Home Highlights July July 2012 Year 2012

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Showing 351 to 400 of 411 Records

1 ....4 5 6 789

July 5, 2012 Notifications Income Tax

Income-tax (seventh Amendment) Rules, 2012 - Amends rule 12(1) - Notification
July 5, 2012 Notifications DGFT

Removal of Minimum Export Price (MEP) of Basmati rice. - Notification
July 5, 2012 Case Laws Income Tax

Dis-allowance u/s 40A(2) - assessee has not discharged its primary onus to prove that entire interest-bearing funds including partners’ capital account were entirely......
July 5, 2012 Case Laws Income Tax

Expenditure incurred on sponsorship & other expenses of Polo tournament - there was no business benefits to the assessee by making such expenditure on advertisement. -......
July 5, 2012 Case Laws Income Tax

Salary versus Commission - Amount paid to be treated as salary even though it was reflected as commission - No TDS u/s 194H - AT
July 5, 2012 Case Laws Income Tax

Reduction of addition made by the AO by CIT(A) - the reasoning given by the CIT(A) namely that the documents were lost in theft in the face of the departmental objection....
July 5, 2012 Case Laws Income Tax

Levy of penalty u/s 271(1)(c) - mere withdrawal of depreciation by the assessee at the assessment stage itself does not amount to be a valid reason for treating the......
July 5, 2012 Case Laws Income Tax

Valuation of Closing stock - method of weighted average rate adopted by assessee - A.O. without giving any observation /calculation has finalized the valuation on an......
July 5, 2012 Case Laws Income Tax

Benefit u/s 80-IB - The assessee has sold these apartments to various purchasers who in turn are using it as service apartments for which the assessee cannot be held......
July 5, 2012 Case Laws Income Tax

development and construction of residential flats - joint development agreement - benefit of Section 80IB(10) in proportion to the share to which they are entitled to......
July 5, 2012 Case Laws Income Tax

Deduction under Section 80-IB (10) - If that area does not exclusively belong to the owner of residential unit and if he has to share that common area with the owner of.....
July 5, 2012 Case Laws Customs

Import of Crude Palm Sterin - Classification - Chapter Heading 15.11 or 38.23. - matter remanded back to decide afresh in view the case Jocil Ltd (2010 (12) TMI 24 (SC)) - AT
July 5, 2012 Case Laws Service Tax

GTA - receiver of goods transport services - 75% abatement - instructions issued in the Circular by the Board cannot be a mandatory condition when the notification does.....
July 5, 2012 Case Laws Service Tax

Cenvat Credit - If invoice is addressed to the head office of a company cannot be a reason enough to deny cenvat credit if it is otherwise available to assessee. - AT
July 5, 2012 Case Laws Service Tax

Demand of service tax - advertisement agency service - activity for arranging the celebrities for promotion – covered under BAS category - AT
July 5, 2012 Case Laws Central Excise

CENVAT Credit – M.S. Channels and M.S. Beams - same were used as rollers to move the finished goods - cenvat credit allowed - AT
July 5, 2012 Case Laws Central Excise

Cenvat Credit - Rule 6 - Press-mud is a by-product or waste. - Just because the press mud is processed further resulting in exempted product, it cannot be said that the.....
July 4, 2012 Notifications Customs

Originating in, or exported from, People’s Republic of China, European Union, Kenya, Iran, Pakistan, Ukraine and United States of America (hereinafter referred to as......
July 4, 2012 Case Laws Income Tax

Applicability of principle of mutuality - consumer co-operative society, engaged in trading in consumer goods to its members as well as non-members - The doctrine of......
July 4, 2012 Case Laws Income Tax

Petition against dismissal of stay petition by CIT(A) - CIT(A) has to follow the parameters for granting stay - HC
July 4, 2012 Case Laws Income Tax

Software expenses - revenue or capital expenditure - real intent and purpose - expenditure incurred by the assessee on software is allowable as revenue expenditure. - AT
July 4, 2012 Case Laws Income Tax

Short term Capital Loss arising from re-purchase and sale of shares - In the absence of any material explained as regards the repurchase of shares at Rs. 30/- per share.....
July 4, 2012 Case Laws Income Tax

Deduction u/s 10A - receipt of foreign exchange after expiry of time stipulated u/s 10A(3)- statute does not prescribe any time-limit within which the application is to.....
July 4, 2012 Case Laws Income Tax

Principle of res-judicata - AO could have made a departure from past even in earlier years. - AO was well within his right to examine the facts of this year independently. - AT
July 4, 2012 Case Laws Income Tax

No business activity had been carried out during the relevant previous year - not entitled to a set off of the administrative expenditure incurred as business expenses......
July 4, 2012 Case Laws Income Tax

Capital gain – transfer of property where title is not absolute and clear - section 2(47)(v) - the assessee is liable to pay the capital gain tax during the year under......
July 4, 2012 Case Laws Service Tax

Cenvat Credit on Capital goods used for providing output services - the tipper used cannot be treated as capital goods. - AT
July 4, 2012 Case Laws Central Excise

Captive consumption - Valuation of wire rods manufactured and supplied to sister units - cost of production cannot be equated to the conversion charges charged by the......
July 4, 2012 Case Laws Central Excise

Defect in adjudication order – Corrigendum issued - Corrigendum is a total departure from the confirmation of duty demand in the adjudication order - AT
July 4, 2012 Case Laws Central Excise

Cenvat credit – invoice number was handwritten or rubber stamped but not printed – no requirement in the rules that the invoice number should be printed on the invoice......
July 3, 2012 News Indian Laws

FEMA - Master Circulars
July 3, 2012 Circulars Companies Law

Extension of time in Filing of annual return by Limited Liability Partnerships(LLPs). - Circular
July 3, 2012 Case Laws Income Tax

Non-compete fees - payment received as non-competition fee under a negative covenant is a capital receipt and not taxable under the Act. - HC
July 3, 2012 Case Laws Income Tax

AO noticed that assessee company has paid huge salary to the ladies who are relatives of Directors / CEO - as assessee failed to justify the reasonableness of salary......
July 3, 2012 Case Laws Income Tax

Exclusion of three items by CIT(A) in computing the deduction u/s. 80P (2)(a)(i) - interest from employees - Income of`jeep charges - Income from No Dues Certificates - AT
July 3, 2012 Case Laws Income Tax

Unexplained cash credit – credit worthiness of donor – Assesseefailed to establish relationship with so-called donor and also failed to establish the occasion for......
July 3, 2012 Case Laws Income Tax

Addition u/s 68 - It cannot be held that suppliers were not genuine only because summons u/s 133(6) were not served. - AT
July 3, 2012 Case Laws Income Tax

Doctrine of merger - Rectification of assessment order u/s 154 despite the fact that CIT(A) has passed an order - issue of deduction under section 80HHD - Decided in......
July 3, 2012 Case Laws Service Tax

‘Management Consultancy Service' - If he himself is managing the affairs of the organization, it does not fall under the ‘Management Consultancy Service'. - AT
July 3, 2012 Case Laws Service Tax

‘Consulting Engineering Services' - it is onus on the department to prove that the appellant has received this amount as “Consulting Engineering Firm” which the......
July 3, 2012 Case Laws Service Tax

Commercial Training or Coaching Service - appellate Society working under Governmental patronage - Entire cost of the courses was met out of the fees collected from......
July 3, 2012 Case Laws Service Tax

Input Service Distributor (ISD) - ISD can distribute the credit even to only one unit - AT
July 3, 2012 Case Laws Central Excise

As physician samples manufactured and cleared to brand owners/ buyers on principal to principal basis for a consideration, further distributed free of cost to......
July 3, 2012 Case Laws Central Excise

Genuineness of the review order - in the absence of any valid review order produced the applications filed before the Tribunal are not maintainable as appeals against......
July 2, 2012 Notifications DGFT

Conditions for export of Carpets, Handicraft items and Silk items. - Notification
July 2, 2012 Notifications DGFT

Prohibition on import of milk and milk products from China. - Notification
July 2, 2012 Notifications Service Tax

Exemption to Railways from Service Tax After Finance Act 2012 - Notification
July 2, 2012 Notifications Service Tax

Corrigendum of Notification No. 36/2012-Service Tax. - Notification
July 2, 2012 Case Laws Income Tax

Bad debts - mere fact that the assessee had made some inter-corporate deposits and the assessee earned income by way of interest in itself is not a circumstance to......
July 2, 2012 Case Laws Income Tax

Computation of book profit - MAT u/s 115JA - on mere fact that the assessee had shown its prior period expenses in the extra ordinary items separately, did not mean the.....

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