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Highlights / Annotations / Catch Notes For September of 2012

Home Highlights September September 2012 Year 2012

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Showing 101 to 150 of 587 Records

1 234 5 6 7........ 12

September 25, 2012 Case Laws Income Tax

Provisions of sec. 40(a)(ia) are applicable only to the amounts of expenditure which are payable as on 31st March of every year and it cannot be invoked to disallow the.....
September 25, 2012 Case Laws Service Tax

There is no ruling of any Court or Tribunal or any circular of CBEC to the effect that a service provider can pay service tax or VAT at his option. - AT
September 25, 2012 Case Laws Central Excise

Assessable value - correct method to arrive at assessable value for the goods captively used by sister unit in manufacturing of final product is only CAS-4 - AT
September 25, 2012 Case Laws Central Excise

Cenvat Credit on capital goods - stored at administrative office before shifting to manufacturing premises - credit allowed - HC
September 24, 2012 News Indian Laws

CONSOLIDATED FDI POLICY (EFFECTIVE FROM 10-4-2012) updated upto 22-09-2012
September 24, 2012 Case Laws Wealth-tax

Assets were forfeited on 8.6.1979 - forfeiture came to an end only on 24.6.1992 - when the subject assets did not legally belong to the assessee during the period under.....
September 24, 2012 Case Laws Income Tax

The findings that the three demand drafts were by way of accommodation entries of the unaccounted moneys of the assessee does not suffer from any error of law - HC
September 24, 2012 Case Laws Income Tax

Assessee was merely a labour contractor. - not entitled for benefit u/s 32A(2)(b) in respect of investment allowance. - SC
September 24, 2012 Case Laws Income Tax

Accrual of income is matter of fact to be decided separately for each case - The same cannot be stated as an accounting policy - AT
September 24, 2012 Case Laws Income Tax

Additional tax u/s 143(1)(a) - assessee claimed deduction, which were not permissible, and thereby not only tried to reduce the income to Nil, but also to carry forward....
September 24, 2012 Case Laws Income Tax

Receipt of compensation on termination of distributorship agreement is in the nature of revenue receipt - HC
September 24, 2012 Case Laws Income Tax

Weighted deduction u/s 35B - Mere obtaining of a packing credit loan or payment of interest thereon in India cannot be said to entail the performance of any service......
September 24, 2012 Case Laws Income Tax

Deduction u/s. 80IB(11A) - assessee is simply handling and transporting the food grains and storing at the godowns of the FCI - no deduction - AT
September 24, 2012 Case Laws Income Tax

Block assessment - it was not clear as to what nature of the seized diaries were examined by the AO and how he satisfied himself that these diaries belong to the......
September 24, 2012 Case Laws Income Tax

There is no provisions in the Income Tax Act, 1961 which makes it mandatory for a person for maintaining the books of accounts at his residence or at his business premises - HC
September 24, 2012 Case Laws Income Tax

Addition on account of Same opening & closing balances of creditors in a FY - opening balances have been duly explained by the assessee. - no addition - AT
September 24, 2012 Case Laws Income Tax

Addition on account of difference in stock found during survey u/s 132 - As the discrepancy could not be reconciled and satisfactorily explained by assessee, addition upheld - AT
September 24, 2012 Case Laws Income Tax

An appeal against an order passed by an officer of the rank of Commissioner Income Tax under Section 271FA is maintainable before the Commissioner Appeals. - HC
September 24, 2012 Case Laws Income Tax

Non deduction of TDS on freight charges - as the assessee had not produced any material to establish the contention of the assessee, but from making a bald assertion,......
September 24, 2012 Case Laws Income Tax

As the income on account of the upfront appraisal fees was business income and as the respondents did not have a permanent establishment in India, the same could not be.....
September 24, 2012 Case Laws Indian Laws

The establishment of Permanent Lok Adalats and conferring them jurisdiction upto a specific pecuniary limit in respect of one or more public utility services as defined.....
September 24, 2012 Case Laws Customs

Purchase of goods under auction - recovery of customs duty from the purchaser is not valid since it was neither purchased from a bonded warehouse or nor been imported by....
September 24, 2012 Case Laws Central Excise

Return of rejected goods - credit taken on the basis own invoice - the assessee would not have any document issued by others but can take credit only on the basis of......
September 24, 2012 Case Laws Central Excise

In respect of the goods manufactured during the period when the appellant was not registered, credit can be taken subsequently also. - AT
September 24, 2012 Case Laws Central Excise

Payment of Service tax was not made through challan instead the payment was made through debit entry in the Cenvat credit account - cenvat credit allowed on the basis of....
September 23, 2012 Case Laws Income Tax

Penalty u/s 271 - Bank has not calculated the interest over the years possibly for the reason that, in its Accounts, this amount was classified as 'NPA', thus Section......
September 23, 2012 Case Laws Income Tax

Rate of depreciation u/s. 32 - any amendments in the Act which come into force after the first day of April of a financial year, would not apply to the assessment for......
September 23, 2012 Case Laws Income Tax

Deduction u/s 10-B - STPI unit - There is nothing implying that approval for purposes of an STP also entitled the unit to a benefit under Section 10-B. The orders of the....
September 23, 2012 Case Laws Income Tax

Revision u/s 263 - expenditure related to the dividend income claimed exempt u/s 10 (33) - the issue was debatable - even if it were not debatable, the error by the AO......
September 23, 2012 Case Laws Income Tax

DTAA between India and Japan - Where technical services are rendered by an enterprise to another, the same falls within the ambit of the expression “technical services”.....
September 23, 2012 Case Laws Income Tax

Deduction u/s 80I - The word 'production' or 'produce' when used in juxtaposition with the word 'manufacture' takes in bringing into existence new goods by a process,......
September 23, 2012 Case Laws Income Tax

Allocation of head office expenses on R&D activity among the manufacturing units is not correct to re-calculate the deduction u/s 80IA. - HC
September 23, 2012 Case Laws Income Tax

Suppression of income - Addition made due to difference in income shown in P&L and TDS certificate – freight payment on behalf of another person - decided in favor of assessee - AT
September 23, 2012 Case Laws Income Tax

Sikim Income Tax Rules, 1948 versus Indian Income Tax Act, 1961 - Since the assessee was not resident within the territories comprised in the of State of Sikkim, the......
September 23, 2012 Case Laws Income Tax

Relinquishment of tenancy rights - allowance of relief u/s 54EC - the property was not occupied jointly and severally but was occupied individually and separately. -......
September 23, 2012 Case Laws VAT and Sales Tax

Mandatory penalty under sales tax - The legislature thought it fit to specify a fixed rate of penalty and not give any discretion in lowering the rate of penalty. - No......
September 23, 2012 Case Laws Central Excise

SSI exemption - Clubbing of turnover - assessee having two units - issuance to SCN to both the units does not amount to double jeopardy - AT
September 23, 2012 Case Laws Central Excise

Valuation under central excise - additional income arising out of the transportation charges/freight charges - no undervaluation - demand not sustainable - AT
September 23, 2012 Case Laws Central Excise

Provisional release of the goods – the condition of giving declaration that the assessee will not challenge the value of goods is not sustainable - AT
September 22, 2012 Case Laws Central Excise

Interest is liable to paid even if no SCN is issued u/s 11A of central excise - order of CESTAT reversed - HC
September 22, 2012 Circulars DGFT

Amendment in SION A-1691 of Chemical Product Group and in SION H-207 and H-278 of Plastic Product Group. - Public Notice
September 22, 2012 Circulars DGFT

Disposal of pending cases for clubbing of advance authorisations filed on or before 31st March, 2012. - Circular
September 22, 2012 Circulars FEMA

Foreign investment in Single–Brand Product Retail Trading/Multi-Brand Retail Trading/Civil Aviation Sector/Broadcasting Sector/Power Exchanges - Amendment to the Foreign....
September 21, 2012 Case Laws Income Tax

Mere reconstitution of the partnership firm can hardly be said to amount to the splitting up, or the reconstruction, of the partnership business which was already in......
September 21, 2012 Case Laws Income Tax

The award of compensation under motor accidents claims cannot be regarded as income. - the interest on such award also cannot be termed as income to the legal heirs of.....
September 21, 2012 Case Laws Income Tax

A.O. can assess the undisclosed income as a result of search only on the basis of material or information as are available in the search. He is not authorised to refer......
September 21, 2012 Case Laws Income Tax

Deduction u/s. 80IB(10) - The contention of the assessee that the project was started keeping in mind the pre amended provisions of Sec. 80IB(10) and therefore any......
September 21, 2012 Case Laws Income Tax

Capital gain – inheritance – the indexed cost of acquisition has to be computed with reference to the year in which the previous owner first held the asset and not the......
September 21, 2012 Case Laws Income Tax

Addition u/s 68 - Assessee himself routed his funds through these companies. - Assessee could not rebut the same by bringing any positive material on record to......
September 21, 2012 Case Laws Income Tax

Agricultural income - Only for the reason that the Basic Seeds are sown in leasehold land and the manpower required are arranged through contract farming, it does not......

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