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Highlights / Annotations / Catch Notes For August of 2012

Home Highlights August August 2012 Year 2012

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Showing 1 to 50 of 438 Records

12 3 4 5........ 9

August 31, 2012 Case Laws Central Excise

Valuation under central excise - since the assessing authority could not do the valuation with the help of the other rules, has resorted to best judgment method and......
August 31, 2012 Case Laws Central Excise

Online platform to facilitate the sale of goods by various merchants - not a manufacturing activity but liable to service tax - AAR
August 31, 2012 Case Laws Central Excise

Maintainability of appeal – opinion by the Committee of Commissioners - there should be a meaningful consideration which should be reflected on the note sheets - appeal dismissed - HC
August 31, 2012 Case Laws Central Excise

Whether no provision in the Act empowering the Board to issue directions to the Assessing Authorities or the Appellate Authorities in the matter of deciding disputes - SC
August 31, 2012 Case Laws Service Tax

Delay in filing an appeal - As such the service of the photocopy of the adjudication order for the second time cannot be taken as relevant date of receipt of the order......
August 31, 2012 Case Laws Service Tax

Club or association service provided by an association in relation to a common facility set up for treatment and recycling effluent or solid waste is exempted from the service tax. - AT
August 31, 2012 Case Laws Service Tax

Pre-deposit made by the appellants by way of debiting in Cenvat Credit Account is sufficient for the purposes of fulfilment of requirement of pre-deposit - AT
August 31, 2012 Case Laws Service Tax

Service tax - business of real estate development and construction residential houses - for the period prior to 1-7-2010, the appellant’s activity cannot be treated as......
August 31, 2012 Case Laws Customs

Advance licence - when according to the licensing authorities a manufacturer exporter can get the raw materials converted through a jobworker / supporting manufacturer,....
August 31, 2012 Case Laws Income Tax

Penalty imposed u/s 271(1)(c) - additional income disclosed in response to the notice u/s 153C - There was absolutely no need to try and bring the cases under......
August 31, 2012 Case Laws Income Tax

Expenditure for subdivision of shares of the company - Revenue OR Capital expenditure - held as revenue in nature - HC
August 31, 2012 Case Laws Income Tax

Deduction u/s 80IA - Given the fact that the dyes and the materials were given by the assessee to the job workers, who had merely bestowed their labours, no hesitation......
August 31, 2012 Case Laws Income Tax

The words "adopted" or "assessed" (as also "assessable") in s. 50C(1) qualify the word "value" preceding it, and not the word "transfer" - there being no assessment by.....
August 31, 2012 Case Laws Income Tax

Capital Loss - As long as the Revenue could not doubt the sale price of the shares, it would not be open for the Revenue to contend that the assessee had shown loss......
August 31, 2012 Case Laws Income Tax

Deduction u/s 80IB - sister concern - Deduction cannot be disallowed only on the ground that the product by the assessee has been used as a raw material by the sister concern. - AT
August 31, 2012 Case Laws Income Tax

Notional interest on provision of interest free loan - notional income is not taxable under the Act - AT
August 31, 2012 Case Laws Income Tax

Dis-allowance u/s 40(ba) - interest paid to directors/trustees - The trustees of the assessee trust cannot be described as members of the AOP. - AT
August 31, 2012 Case Laws Income Tax

Merely because an income was offered by another person in its return of income will not exonerate the assessee from inclusion of such income in its return which was......
August 31, 2012 Case Laws Income Tax

Estimation of profit - rejection of books of accounts - keeping in view such glaring defects in the books of account and the statement of the appellant during the course....
August 31, 2012 Case Laws Income Tax

Capital expenditure vs Revenue expenditure - development of components - payments resulted in creation of a commercial right - benefit was of an enduring nature. -......
August 31, 2012 Case Laws Income Tax

Monuments in the memory of war heroes - preservation of monument would be charitable purpose entitling the assessee to fall within the amended definition enshrined in section 2(15) - AT
August 31, 2012 Case Laws Income Tax

Reopening of assessment – court is only required to see whether there was prima facie some material on the basis of which the assessment could be reopened. The......
August 31, 2012 Case Laws VAT and Sales Tax

Claim of 100% set off for tax paid on the coal purchased - Merely because heat is generated in the process it cannot be a ground to hold that Noncooking coal so used was....
August 31, 2012 Circulars Companies Law

Constitution of a Committee for Reforming the Regulatory Environment for doing Business in India. - Circular
August 30, 2012 Case Laws Central Excise

Demand of interest – if the entry is reversed it amounts to not taking the credit at all and therefore when admittedly no duty is payable, the question of payment of......
August 30, 2012 Case Laws Service Tax

Payment of service tax though not applicable - If that amount is to be voluntarily permitted to be utilized towards CENVAT Credit, it is apparent that for late payment......
August 30, 2012 Case Laws Service Tax

Completion and finishing services – benefit of Notification No. 1/2006-S.T. as well as 12/2003 not allowed even if VAT has been paid on material involved - AT
August 30, 2012 Case Laws Income Tax

Payments to overseas subsidiary towards sub contracting charges will not be liable for deduction of tax at source u/s 195 as there is no income chargeable to tax in India - AAR
August 30, 2012 Case Laws Income Tax

Taxability on the Settlement Amount payable under the Stipulation pursuant to the judgment and Final approval of the US Court - applicant is required to deduct......
August 30, 2012 Case Laws Income Tax

Entitlement to the benefit of Section 80IA - the profit derived form realization of TV/Films rights given on lease - SC
August 30, 2012 Case Laws Income Tax

Assessee in default - non deduction of TDS u/s 194H - Instructions and Rules can only supplement but can never supplant or limit the width of the statutory powers - HC
August 30, 2012 Case Laws Income Tax

Statute does not prohibit or enjoin the Commissioner from registering Trust solely based on its objects, without any activity, in the case of a newly registered Trust u/s 12AA - HC
August 30, 2012 Case Laws Income Tax

Unless and until there is a definite enactment made one could not take advantage of the Minister's Speech to buttress the argument that the import was made consequent on....
August 30, 2012 Case Laws Income Tax

Revaluation of stock - non moving stock - deterioration in quality of the ink resulting in erosion of its value - HC
August 30, 2012 Case Laws Income Tax

Set off of brought forward business loss and unabsorbed depreciation - denial - invocation of provisions of Section 79 - change in shareholding - AT
August 30, 2012 Case Laws Income Tax

Payment of Non-compete fees - revenue expenditure vs capital expenditure - Said payment was made for the purpose of running the business and not for the purpose of......
August 30, 2012 Case Laws Income Tax

Deemed dividend – amount advanced to assessee who holds 10% of voting rights – Even though the loan was repaid within a short period the factum of the loan being granted....
August 30, 2012 Case Laws Income Tax

Mere fact that the land in question was agricultural land cannot be a ground to claim for exemption u/s 2(14) as the land is situated within the local limits of......
August 30, 2012 Case Laws Income Tax

Interest on borrowings in respect of house let out – Assessee has not produced any evidence to show that the loan has been taken for acquisition of property. -......
August 30, 2012 Case Laws Income Tax

Deduction u/s 54 - Purchase of the new flat by the assessee will be treated on the date when the assessee has received the possession after it is constructed and not on.....
August 30, 2012 Case Laws Companies Law

When there is a bona fide dispute with regard to debt as claimed by the petitioner and when the dispute is likely to succeed in a point of law, it would be highly......
August 30, 2012 Circulars FEMA

Non-resident guarantee for non-fund based facilities entered between two resident entities . - Circular
August 29, 2012 Case Laws Central Excise

Exemption Notification No. 3/2004 – Water supply plants for agricultural and industrial use - Exemption to machinery, instruments, equipments and pipes used therein - AT
August 29, 2012 Case Laws Central Excise

Where against main noticee/defaulter, the Settlement Commission has granted immunity from payment of any penalty, no penalty can be imposed upon other co-noticees - HC
August 29, 2012 Case Laws Central Excise

Cenvat credit – applicant was not allowed to pay duty on the exempted goods as per proviso to Section 5A(1A) of Central Excise Act, 1944 and no Cenvat Credit on the......
August 29, 2012 Case Laws Service Tax

Application of Advance ruling under service tax was rejected by AAR on various grounds - The applications filed by the petitioners before the AAR under section 96C were.....
August 29, 2012 Case Laws Service Tax

Individual farmers for transportation of sugarcane from collection centres to the factory - payment of charges for such transportation. - can not be held as GTA as not......
August 29, 2012 Case Laws Service Tax

Demand and penalty - Short payment of service tax – sufficient cause for invoking the provisions of Section 80 of the Finance Act - AT
August 29, 2012 Case Laws Service Tax

Demand of service tax - Laying of pipelines cannot be construed as a plant, machinery or equipment or structure. - AT
August 29, 2012 Case Laws Service Tax

Penalty under Sec. 76 of the Act – authorities have no authority to initiate proceedings for recovery of penalty under Sec. 76 of the Act. - HC

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