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Highlights / Annotations / Catch Notes For September of 2012

Home Highlights September September 2012 Year 2012

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Showing 501 to 550 of 587 Records

1 ....7 8 9 101112

September 6, 2012 Case Laws Income Tax

T.D.S. deduction on the compensation paid to parents whose child dies in an escalator maintained by an Airport Authority - compensation is by way of damages. - No TDS
September 6, 2012 Case Laws Income Tax

Income from sale of plots - business income OR capital gains - The frequency of purchase and sale belies the stand of the assessee - against assessee. - AT
September 6, 2012 Case Laws Income Tax

Rebate u/s 88E in respect of STT - rebate has to be calculated with respect to the income from derivative transaction included in the total income @ 30% subject to the......
September 6, 2012 Case Laws Income Tax

Deemed income u/s 41(1) - if the assessee did not claim the debt as bad in earlier years then the claim of assessee will be accepted that he has already been offered as....
September 6, 2012 Case Laws Income Tax

Addition on account of unproved purchases - without purchases, there cannot be any manufacturing of sales - in favour of assessee. - AT
September 6, 2012 Case Laws Income Tax

Multiple cash payments are made to same party on a single day - no disallowance u/s.40A(3) - amendment in not not retrospective in nature - AT
September 6, 2012 Case Laws Income Tax

Addition to income - additional evidence submitted by assessee allowed - AT
September 6, 2012 Case Laws Income Tax

Valuation of Sales price under Capital gain - Whether rate adopted by register valuer on the basis of stamp Duty Ready Reckoner, 2005 for Developed Land FSI will......
September 5, 2012 Case Laws Central Excise

Rule 11 (3) of CENVAT Credit Rules, 2004 specifically provides for only reversal of CENVAT Credit taken on the duty paid on the inputs and the said rule is silent about.....
September 5, 2012 Case Laws Central Excise

Since the correct facts had been narrated in the SCN hence citation of Rule 57C and not Rule 57H(7), would not vitiate the SCN. Cenvat credit demand upheld. - AT
September 5, 2012 Case Laws Service Tax

As per amendment in section 2(24) of Maharashtra Value Added Tax Act, 2002 w.e.f. June 20, 2006 on or before October 31, 2012, the coercive process for recovery of tax,.....
September 5, 2012 Case Laws Service Tax

Activity appears to be the marketing and promotion of the services being provided by the GIPL and Abacus and hence, the same appears to be covered by the definition of......
September 5, 2012 Case Laws Customs

The petitioner is disentitled to the benefit of the DEPB scheme by virtue of a restriction imposed on 22-9-2011, made effective nine days later. - To inflict such an......
September 5, 2012 Case Laws Customs

Decision of the Tribunal having assumed finality, is not open to the respondent authorities to either withhold release of the bank guarantees or to withhold refund - HC
September 5, 2012 Case Laws Income Tax

If any amount is required to be payable to the Income-tax Department by the transferor company, the Income-tax Department can be said to be a creditor so far as its......
September 5, 2012 Case Laws Income Tax

Disallowance of credit of surcharge and education cess - MAT u/s 115JAA - if only income tax is paid under the provisions of section 115JB it is natural that tax credit.....
September 5, 2012 Case Laws Income Tax

Reopening of assessment - the arrears of rent received by the assessee (as mesne profits) could not be brought to tax for the previous years, when they fell due. They......
September 5, 2012 Case Laws Income Tax

Having once drawn the presumption that the contents of the documents (of the assessee) taken into possession during the search were true, the revenue could not have,......
September 5, 2012 Case Laws Income Tax

The law cannot possibly compel a person to do something which is impossible to perform - AT
September 5, 2012 Case Laws Income Tax

Reopening of assessment u/s 147 - once that aspect of the matter had been gone into in the earlier round, it was not open to the AO to reagitate it in the second round......
September 5, 2012 Case Laws Income Tax

Claim of interest - If a decision to hold or withhold monies/assets discovered during a Search is not taken with the prescribed period of 120 days, interest would start.....
September 5, 2012 Case Laws Income Tax

Taxability on Compensation received under consent decree in this civil appeal - takeover arrangement - Income from other sources OR capital receipt - SC
September 5, 2012 Case Laws Income Tax

Reimbursement of advertisement expenses - Even assuming that he is entitled to reimbursement of the marketing expenses, the liability of the company to pay him the said.....
September 5, 2012 Case Laws Income Tax

Disallowance of the deduction U/s. 54F - money has no colour and all that is required to be eligible for relief under S.54F of the Act is compliance with the condition......
September 5, 2012 Case Laws Income Tax

Educational Institution - exemption u/s 11 - Assessee’s argument that the benefit of S.11 should be granted in the alternative, without verification of conditions......
September 5, 2012 Case Laws Income Tax

Addition u/s 68 - when the donors were examined by the Assessing Officer on oath and they conformed the transaction of gift through banking channel and by cheques, than....
September 4, 2012 Circulars Companies Law

Filling of Balance Sheet and Profit and Loss Account by companies in Non-XBRL for accounting year commencing on or after 01.04.2011. - Circular
September 4, 2012 Case Laws Central Excise

Pre-fabricated segments and launching trusses - since the goods have been held to be classifiable under 73084000, the eligibility for notification no. 3/05-CE would have....
September 4, 2012 Case Laws Central Excise

Plea for condonation of delay of one year seven months by Department - As such, the issue now cannot be reopened only because in a subsequent judgment, the Tribunal has.....
September 4, 2012 Case Laws Service Tax

Extended period of limitation – whether the cost of materials used in providing photographic services is required to be added in assessable value or nor - benefit of......
September 4, 2012 Case Laws Service Tax

Penalty - suo motu revision of order passed by learned Commissioner under Section 84 of the Finance Act, 1994 imposing penalty under section 77 of the said Act followed.....
September 4, 2012 Case Laws Customs

Delay in filing Order of detention - In the absence of proper explanation for a period of 15 months in issuing the order of detention, the same has to be set aside - SC
September 4, 2012 Case Laws Income Tax

Sale and a lease back transaction - the lease transactions were genuine and that the Department failed to adduce any evidence to prove that the transaction was not......
September 4, 2012 Case Laws Income Tax

Payment made for acquiring the name of ‘VESESH’ and intellectual properties, copy right - The said amount has to be treated as capital expenditure.- HC
September 4, 2012 Case Laws Income Tax

Disallowance of deduction u/s 80-IA & 80-IB - the contention of the revenue that the assessee has not conducted any business at Silvassa and the assessee has diverted......
September 4, 2012 Case Laws Income Tax

Rental income - Municipal rateable value shall be taken into consideration for determining the ALV comparing it with the actual rent whichever is higher shall be taken......
September 4, 2012 Case Laws Income Tax

Addition income from sale of scarp on ship breaking - 0.81 % of the total recovery being attributed to non ferrous scrap generated during the course of ship breaking by....
September 4, 2012 Case Laws Income Tax

MAT - AO while assessing a company for income tax under section 115J of the Act, cannot question the correctness of the profit and loss account prepared by the assessee....
September 4, 2012 Case Laws Income Tax

Mismatching of TDS receipts with P&L account - AO has considered the entire payment as per TDS certificate as income and has failed to appreciate what is liable is......
September 4, 2012 Case Laws Income Tax

Rectification u/s 154 – FBT - as the taxability or otherwise of an ESOP expenditure u/s 115WB(1)(a) is highly debatable issue and such issue cannot be adjudicated in the....
September 3, 2012 Case Laws Central Excise

Refund claim of duty paid on HV/LV coils used captively for repairing transformer - when excise duty was not leviable on the goods, the respondent cannot take the......
September 3, 2012 Case Laws Central Excise

Plea for condonation of delay - reason provided for non filing the appeal in time being quit of employee looking after the excise work - Reason given are very sketchy......
September 3, 2012 Case Laws Central Excise

Application for recall of the order – Merely observing that the assessee failed to collect the relied upon documents was not sufficient to justify ex parte proceedings - AT
September 3, 2012 Case Laws Service Tax

Demand of service tax - Once it is recognised that there is sale of goods involved in such contracts and the sale can be treated as a separate component they were......
September 3, 2012 Case Laws Service Tax

Refund of service tax paid on specified services - Notification issued under Section 93 of the Finance Act, 1994, or a condition incorporated in such a notification......
September 3, 2012 Case Laws Service Tax

Input services must be availed before removal of the goods is not correct as there are a number of services required to be used in or in relation to the manufacture of......
September 3, 2012 Case Laws Customs

Detention of the Imported goods - As the liability of revenue arrears of other persons cannot be fastened on the petitioner , the order of not releasing the goods in......
September 3, 2012 Case Laws Income Tax

Expenditure on Royalty - Revenue or Capital? - the licensee shall have no right to exploit or in any way to use the know-how and shall forthwith discontinue all use of......
September 3, 2012 Case Laws Income Tax

Computation of deduction u/s 10A - the income eligible for exemption under section 10A would not enter into computation as the same has to be deducted at source level. - HC
September 3, 2012 Case Laws Income Tax

Revision u/s 263 - What could not have been done in the order u/s 263 as on the date when it was passed cannot be done by exercise of powers of rectification u/s 154 - AT

1 ....7 8 9 101112

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