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Highlights / Annotations / Catch Notes For July of 2016

Home Highlights July July 2016 Year 2016

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Showing 351 to 400 of 513 Records

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July 8, 2016 Case Laws Income Tax

Compensatory sum received in terms of settlement agreement for not using the word ‘Longman’ in the name or trade mark of the assessee - business income or a capital......
July 8, 2016 Case Laws Income Tax

It cannot be the case that if one person could not be caught while infringing the law then, other one has also right to infringe or to break the law. - Addition on the......
July 8, 2016 Case Laws Income Tax

Capital gains on sale of capital assets is not to be set off against the brought forward loss of earlier years. Only the business loss can be carried forward u/s 72 of......
July 8, 2016 Case Laws Income Tax

Accrual of income - Addition on account of undisclosed transportation receipts - as the amount were received by the assessee on behalf of the truck owners and therefore.....
July 8, 2016 Case Laws Income Tax

Mrely because additions have confirmed in appeal or no appeal has been filed by assessee against additions made, it cannot be the sole ground for coming to the......
July 8, 2016 Case Laws Income Tax

Disallowance of labour charges etc. paid in cash - non-availability of documentary evidences on the part of the assessee - the primary onus to establish the bonafides of....
July 8, 2016 Case Laws Income Tax

TPA - the payments to the subsidiary and other independent units by the assessee cannot be treated as pass through cost as it is not the payment from A.E to subsidiary......
July 8, 2016 Case Laws Income Tax

Validity of order u/s 142(2A) - special audit - despite the appellant seeking the basis on which directions for special audit is proposed to be issued, the learned CIT......
July 7, 2016 Case Laws Service Tax

Principle of mutuality does not apply for the services provided by the SEZ unit to the DTA unit of the same assessee since as per the scheme both the distinct and......
July 7, 2016 Case Laws Service Tax

The Infrastructure Charges paid to TNEB and incurred by the appellant directly as well as reimbursed to it, is not in relation to any services provided by the appellant.....
July 7, 2016 Case Laws Service Tax

Non payment of service tax at the time of filing of the ST-3 returns - The amount was paid subsequent to filing of service tax returns but before the issuance of the......
July 7, 2016 Case Laws Central Excise

Clandestine removal of goods - Cum-duty benefit - Appellant resorted to clandestine removal and no records were maintained in respect of such clearance. Therefore the......
July 7, 2016 Case Laws Central Excise

Valuation - sale of medicines through their intermediaries - related parties - appellant/ manufacture were required to discharge the duty liability at the contracted......
July 7, 2016 Case Laws Central Excise

Manufacturing of go-kart and parts thereof - classifiable under chapter sub-heading number 8703.90 or not once Heading 95.08 is excluded the other one 87.03, will apply.....
July 7, 2016 Case Laws Central Excise

Clandestine removal of goods - manufacturing or automobile parts - In the absence of any concrete evidence, the duty cannot be demanded merely on the basis of turnover......
July 7, 2016 Case Laws Central Excise

As no positive evidence has been brought by the revenue to support its allegation that the goods cleared clandestinely without payment of duty is not sustainable - AT
July 7, 2016 Case Laws VAT and Sales Tax

Input Tax Credit - Manufacturing activity or not - UP VAT -the new item is nothing but wood and bamboo which do not have an identity totally different from the original.....
July 7, 2016 Case Laws VAT and Sales Tax

Sale of Wind Mill - slump sale - claim of exemption under TNVAT Act - Business Transfer Agreement read with Sale Deeds as well as other records would show that the......
July 7, 2016 Case Laws Indian Laws

Right to recover demurrage charges - Indian Trident Maritime (P) Ltd. (ITM) was not liable for the port charges incurred for storing the cargo in question on port......
July 7, 2016 Case Laws Income Tax

Addition on account of difference in valuation of securiti - Reduction in profit due to change in valuation method of stock cannot be a reason to reject the claim of......
July 7, 2016 Case Laws Income Tax

Valuation u/s 50C is a deeming provision and it extends only to land or building or both. - Rights in the land cannot be equated to land or building or both and......
July 7, 2016 Case Laws Income Tax

Assessee Company engaged in the business of manufacturing & selling of cement - Incurred expenditure on major repairs & maintenance amounting to ₹ 2.70 crores - As....
July 7, 2016 Case Laws Income Tax

Exemption u/s 11 - receipt of capitation fees - AO has brought out enormous evidence on record especially to establish that the assessee is not engaged in charitable......
July 7, 2016 Case Laws Income Tax

Revision u/s 263 - non deduction of tds - the assessment order passed by the A.O. is not erroneous, in so far as it is prejudicial to the interest of the revenue, as......
July 7, 2016 Case Laws Income Tax

Disallowance toward provision for loss on contracts - reporting profit on the basis of proportionality as per AS-7 - The reliability of the estimate is indeed very......
July 7, 2016 Case Laws Income Tax

Since the profit determined is profit from undisclosed sources/business, there should not be any separate additions made towards excess purchases and difference in......
July 7, 2016 Case Laws Income Tax

When ROC fees incurred for enhancement of authorized share capital has already been held to be capital expenditure by Apex Court in the case of Punjab State Industrial......
July 7, 2016 Case Laws Income Tax

Penalty u/s 271(1)(c) on addition made u/s 68 - the assessee has given sufficient explanation though not found satisfactory by AO - No merit in levying penalty.
July 7, 2016 Case Laws Income Tax

Salary receipt OR professional receipt - B.Tech professional provides coaching services to an Institute, which provides coaching for preparation of IIT entrance test. He....
July 7, 2016 Case Laws Income Tax

Site Advances & Rent Deposits written off could not be allowed as a bad debt in the light of the provisions of section 36(2) but nevertheless the claim is justified as a business loss
July 7, 2016 Case Laws Income Tax

Assessee was engaged in the business of providing services like testing, analysis and inspection services relating to oil and gas to various companies like ONGC,......
July 7, 2016 Case Laws Income Tax

Assessee was unable to submit complete details of the expenses. Held, AO should identify and disallow the specific expenses which are not substantiated, instead of......
July 7, 2016 Case Laws Income Tax

Revenue has not disputed the fact that in the year under appeal there is increase in the sales and the margin as stated by the assessee is not rebutted by the revenue by....
July 7, 2016 Case Laws Income Tax

Not allowing the assessee set-off of the business losses against other eligible heads of income in accordance with the law is a mistake apparent from records u/s 154 -......
July 7, 2016 Case Laws Income Tax

E-connectivity charges are revenue in nature as they do not result either in the acquisition of software by the assessee or in any enduring benefit to the assessee
July 7, 2016 Case Laws Income Tax

Pharmacy shop is an integral part of the hospital business and the same is not hit adversely by the condition of maintain separate books as specified in section 11(4A)
July 7, 2016 Case Laws Income Tax

Reimbursement of salary expenses of employees to the sister concern, who were deputed by the sister concern to the assessee does not require deduction of tax at source.
July 7, 2016 Case Laws Income Tax

Notice issued to assessee u/s 148 on the basis of information received from DIT(Investigation) on the basis of search & seizure operation conducted at the premises of......
July 7, 2016 Case Laws Income Tax

Share application money cannot be equated with share capital and interest paid on share application money pending its allotment is allowable as revenue expenditure
July 7, 2016 Case Laws Income Tax

Software expenditure having enduring benefit of not more than a year is revenue expenditure
July 7, 2016 Case Laws Income Tax

Section 69 - Assessee explained that the source of cash deposit is sale of property by her husband and the fact that assessee's husband paid capital gain tax on full......
July 7, 2016 Case Laws Income Tax

Reference to TPO - reasons to refer - it is not AO’s obligation to communicate to the assessee what makes AO to make necessary or expedient to refer the matter to TPO. - AT
July 7, 2016 Case Laws VAT and Sales Tax

Classification - Rate of tax on paving bricks/blocks - 4% or 12.5% - distinction between bricks and paving bricks/ blocks - distinguishing between bricks and the floor......
July 6, 2016 Case Laws Service Tax

Challenge to the Show Cause Notice (SCN) - Maintainability of writ petition - Business Auxiliary services (BAS) - The petitioner is a cricketer and is a former captain......
July 6, 2016 Case Laws Service Tax

Claim of refund - refund claim was not accompanied by Form A-1 as provided in Notification No-17/2011 ST dated 01-03-2011 - service tax paid on purchase of software......
July 6, 2016 Case Laws Central Excise

Demand of duty on export of goods without payment of duty - short shipped/shot export of goods - export of Linear Alkyl Benzene (LAB) under UT-I for export under the......
July 6, 2016 Case Laws Central Excise

Rebate / refund claim on export of goods - non-realization of foreign exchange - exporter has not submitted (BRCs) in respect of export clearances, even after lapse of......
July 6, 2016 Case Laws Central Excise

Loss of goods during manufacturing - Remission of duty on storage losses cannot be claimed by the respondent even when no remission application has been filed by them......
July 6, 2016 Case Laws Central Excise

Rebate of duty of input stage on export of goods - Rule 18 - excisable goods were cleared for export by them in respect of ARE-2, without obtaining prior permission of......
July 6, 2016 Case Laws Central Excise

Rebate claim of duty paid on exported goods under Rule 18 of the Central Excise Rules, 2002 - applicant failed to follow procedure of self sealing and failed to submit......

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