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Highlights / Annotations / Catch Notes For September of 2017

Home Highlights September September 2017 Year 2017

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Showing 101 to 150 of 309 Records

September 20, 2017 Case Laws Income Tax

Deemed dividend u/s 2(22)(e) - advances given to societies - in the absence of legal right of the assessee in the said society the amount advanced cannot be treated as deemed income.
September 20, 2017 Case Laws Income Tax

When electrical installations are treated as plant and machinery the depreciation has to be allowed @ 25% as per provisions contained u/s 32
September 19, 2017 Notes Income Tax

Provisions of ICDS shall prevail w.e.f. AY 2017-18 to the transactional issues dealt therein over earlier judicial pronouncements.
September 19, 2017 News Income Tax

Voluntary Reporting of Estimated Current Income and Advance Tax Liability - CBDT issues draft notification
September 19, 2017 Case Laws GST

GST - Detention of goods under transport - discrepancy in documents - the statutory provisions provide a mechanism for adjudication following detention of goods......
September 19, 2017 Case Laws Income Tax

Reassessment - first few paragraphs of the assessment order dealt with objections and disposed of accordingly - Unfortunately, the manner in which the AO has decided the....
September 19, 2017 Case Laws Income Tax

Business expenditure u/s 37 - liquidated damage - breach of contract terms - Expenditure was not incurred for any purpose which is an offence or which is prohibited by......
September 19, 2017 Case Laws Income Tax

TDS liability - ITAT confirmed the liability - We do not see how it is possible for us to uphold the order of the Tribunal and when it purports to decide two Appeals of.....
September 19, 2017 Case Laws Income Tax

Reopening of assessment - sufficiency of material available with the AO to form a belief that income chargeable to tax had escaped assessment - bogus purchases - seller.....
September 19, 2017 Case Laws Income Tax

Exemption u/s 11 - education activities - transport and hostel facilities surplus cannot be considered as business income of the assessee society
September 19, 2017 Case Laws Income Tax

Genuineness of labour wages expenses, embroidery charges, fabrication expenses etc. - getting work done through small workmen who do not have any permanent place of......
September 19, 2017 Case Laws Customs

Project import - Since the goods were never used for the purpose for which it was imported, the actual user condition has been violated - Redemption fine and penalty imposed.
September 19, 2017 Case Laws Customs

Penalty u/s 112 (a) - CHA - Lack of due diligence and failure to take more precautions can not, by itself, bring in penal consequences
September 19, 2017 Case Laws Service Tax

Valuation - inclusion of reimbursement of expenses - managing participation of clients in certain mela, fairs, promotional activities etc. - They are liable to service......
September 19, 2017 Case Laws Service Tax

Import of services - GST - The fact that those services were received outside India will not change the fact that the services have been paid for by the beneficiary......
September 19, 2017 Case Laws Service Tax

Merely because payment is received in Indian rupee, it cannot be said that payment against export has not been received in convertible foreign exchange.
September 19, 2017 Case Laws Central Excise

Merely vehicle numbers was not mentioned on the invoices cannot be the reason to deny Cenvat Credit
September 19, 2017 Circulars GST

Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 120A of the Central Goods and Service Tax Rules, 2017 - Circular
September 18, 2017 Case Laws Income Tax

Exemption u/s 54F - LTCCG - once entire net consideration is invested, the absence of completion certificate cannot be a ground to deny the benefit of deduction.
September 18, 2017 Case Laws Income Tax

Deduction u/s 10B - initial AY - Mere authorization to enable the Assessee to import material or export produce in the earlier date would not ipso facto tantamount to......
September 18, 2017 Case Laws Income Tax

Provision for sick leave liability - based on the basis of notional figures - such notional liability cannot be allowed as deduction - section 43B(f) is not applicable.
September 18, 2017 Case Laws Income Tax

Penalty u/s 271(1)(c) - the amended provision of Explanation 5A made applicable w.r.e.f from 1.6.2007 cannot be pressed into service.
September 18, 2017 Case Laws Customs

Classification - Most of the products are aimed at enhanced well-being or hygiene and improved body conditions. These type of generic group items are rightly to be......
September 18, 2017 Case Laws Service Tax

Export of services - Since the Indian rupee is received from the recipient of services through their foreign bank, Silicon Valley Bank of USA, the receipt of Indian......
September 18, 2017 Case Laws Service Tax

BAS - Just because charges are paid to a agency for supervision, demand under Business Auxiliary Service cannot be made. It is incumbent upon Revenue to show that said......
September 18, 2017 Case Laws Service Tax

Construction of Green House - appellants are engaged in the activity of installation of plant (greenhouse), and therefore the appellants are liable to pay services on the said activity.
September 18, 2017 Case Laws Customs

When the main condition of notification has not been violated by the appellant, therefore the benefit of notification cannot be denied merely on the ground that......
September 18, 2017 Case Laws Customs

Valuation - leftover ATF available in the fuel tank of aircraft - there is no freight element involved and hence, there is no application for Rule 10 (2).
September 18, 2017 Case Laws Central Excise

The products are custom made as per the needs of each of the buyer. The appellants are manufacturing a few item and they wish to call those items collectively as......
September 17, 2017 Act Rules GST

GST - Generation of E-way bill / Challan shall be mandatory (irrespective of value) in case of interstate movement of goods for Job work or by exempted persons in case......
September 17, 2017 GST

Anti-Profiteering Authority - Certain provisions under Rules 120, 122 and 124 of GST Rules 2017 amended.
September 17, 2017 Act Rules GST

Revision of FORM GST TRAN-1 - option to revise the TRAN-1 once within such period as may be extended by the Commissioner in this behalf.
September 17, 2017 Act Rules GST

Option to avail composition scheme under GST by electronically filing an intimation in FORM GST CMP-02 and FORM GST ITC-03 upto 30-9-2017 - See Rule 3(3A)
September 17, 2017 Notifications GST

TDS liability under Section 51 of CGST, 2017 come into force w.e.f. 18-9-2017 - Persons liable to deduct TDS specified.
September 16, 2017 Case Laws Income Tax

Income from house property - property given to sister concern without charging any Interest - inclusion of Interest of investments (deemed income) - Estimation of Annual....
September 16, 2017 Case Laws Income Tax

Addition u/s 68 - unexplained cash credit - Many of the bank slips were signed by one person - The demand drafts were issued by Wadhwan city branch of the bank whereas......
September 16, 2017 Case Laws Income Tax

Pre-deposit - When the petitioner had no idea on what grounds the authorities primafacie thought that the standard formula of granting stay on depositing 15% of the......
September 16, 2017 Case Laws Income Tax

Benefit of Amnesty scheme - Penalty u/s 271D and 271E - the exclusions from the Scheme, that are enumerated in Section 208 of the Finance Act, 2016, do not expressly......
September 16, 2017 Case Laws Income Tax

Denying exemption U/s 11 - proof of charitable activities - Since, the principle of mutuality was not violated then in the said circumstances the case of assessee is......
September 15, 2017 Circulars FEMA

Export Data Processing and Monitoring System (EDPMS) - Issuance of Electronic Bank Realisation Certificate (eBRC) - FEMA
September 15, 2017 Notifications GST

Exemption granted to a casual taxable person making taxable supplies of handicraft goods from the requirement to obtain registration
September 15, 2017 Notifications GST

Exemption granted to a person making inter-State taxable supplies of handicraft goods from the requirement to obtain registration - Notification (28 items)
September 15, 2017 Notifications GST

Exemption granted from registration to job-workers making inter-State supply of services to a registered person from the requirement of obtaining registration, except......
September 15, 2017 Case Laws Income Tax

Disallowance of bogus loss - No information is available on record as to how the assessee company has taken loss from these client code modification - No details have......
September 15, 2017 Case Laws Income Tax

Liquidated damage received/receivable - deduction u/s 80IA - there is no direct nexus between the profit and gains of the undertaking and the receipt from liquidated......
September 15, 2017 Case Laws Income Tax

Income accrues or arises in India - employer has directly credited the salary, for services rendered outside India, into the NRE bank account of the seafarer in India -.....
September 15, 2017 Case Laws Income Tax

Denying exemption u/s 11 & 12 - It is quite evident that the floating of subsidiary company was in tune with SEBI directions and contradicts the stand of the revenue......
September 15, 2017 Case Laws Income Tax

Addition towards advance received for sale of flats - accrual of income - income accrues to a builder or developer only when transaction of sale is complete and any......
September 15, 2017 Case Laws Income Tax

TPA - even if it could be treated as a corporate guarantee for benchmarking purposes, the corporate guarantee does not constitute an international transaction under......
September 15, 2017 Case Laws Income Tax

TPA - ALP - assessee has not charged any interest from subsidiaries and therefore, in the absence of any accrual or arise of income form the lending of the money, there.....

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