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Highlights / Annotations / Catch Notes For 2012

Home Highlights Year 2012

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Showing 101 to 150 of 3762 Records

1 234 5 6 7........ 76

December 15, 2012 Case Laws Income Tax

Exemption under section 10(23C)(iiiad) - educational purpsoe - If the existence of the assessee was not for the purposes of profit, but solely for educational purpose,.....
December 15, 2012 Case Laws Income Tax

Conversion of partnership firm into company versus dissolution of firm - Going concern - there was no cessation of business and therefore the closing stock had to be......
December 15, 2012 Case Laws Income Tax

Recovery of dues from director of the company u/s 179 - piercing corporate veil - Matter remanded back to Assistant Commissioner on the ground of violation of principles....
December 15, 2012 Case Laws Income Tax

Deduction u/s 80P(2)(a)(i) - Co-operative Bank - The question as to whether the business is derived from or attributable to SLR or non-SLR funds would not make any......
December 15, 2012 Case Laws Income Tax

Industrial company / undertaking - Additional tax u/s 104 - Assessee was not engaged in any manufacturing or/and processing activity and hence was not eligible to claim.....
December 15, 2012 Case Laws Income Tax

Minimum Alternate Tax (MAT) on SEZ units - Authorities below were not justified to include the book profit in respect of SEZ unit at Mumbai of the assessee while......
December 15, 2012 Case Laws Income Tax

Addition on account of anonymous donation u/s 115BBC - Assessee is a charitable trust in maintaining gaushalas and veterinary hospital for treatment of wounded and sick.....
December 15, 2012 Case Laws Income Tax

Whether rebate u/s 88E for STT paid has been allowed from tax payable under MAT u/s 115 JB - when the total income is assessed and the tax chargeable is computed, it is.....
December 14, 2012 Case Laws Central Excise

Assessable value - Place of removal – delivery of Petroleum products - company owned company outlets (hereinafter referred as COCOs) - there is no justification to......
December 14, 2012 Case Laws Central Excise

Once it is concluded that the department has failed to establish that the appellant used cenvatable inputs for manufacture of bagasse, Rule 6(2) and Rule 6(3) (i) & (ii)....
December 14, 2012 Case Laws Service Tax

Classification of service - Broker v/s Commission agent - ship brokers - brokers are purely intermediaries who do not act on behalf of either ship owner or the charterer....
December 14, 2012 Case Laws Customs

Drawback claim - circular of the Board, based on the preposition that the goods purchased from the market are deemed to be duty paid and hence non-Cenvat credit......
December 14, 2012 Case Laws Income Tax

Addition u/s 40A(2)(a)(b) on the ground that the assessee had allowed discount @ 3% tosister concern - It is not disputed that the assessee has neither claimed any......
December 14, 2012 Case Laws Income Tax

Deduction u/s 80IB / 80IC - Allocation of common expenditure - salary, wages and staff welfare expenses relating to financial controller, chief medical officer cannot be allocated. - AT
December 14, 2012 Case Laws Income Tax

Taxability of Interest received u/s 244A - held that:- interest on refund under section 244A(1) granted to the assessee in the proceedings under section 143(1)(a) would.....
December 14, 2012 Case Laws Income Tax

Penalty u/s 271(1)(c) - wrong claim of depreciation - We are also unable to subscribe to the view of the Tribunal that the explanation submitted by the assessee “appears....
December 14, 2012 Case Laws Income Tax

Depreciation on leased out Air Jet Spindle Assembly and Positar Disc / leased out LPG cyclinders - the assessee was not entitled to depreciation. - HC
December 14, 2012 Case Laws Income Tax

Disallowance u/s 40A(3) read with rule 6DD - payment of expenditure in cash - mobile railway catering contractor - Tribunal and the lower authorities adopted an unduly.....
December 14, 2012 Case Laws Income Tax

Three limbs to invite the mischief of Sec. 68, i.e. creditworthiness, capacity and genuineness of the transactions, cannot be questioned, because the transaction is......
December 14, 2012 Circulars VAT and Sales Tax

Issuance of Statutory Forms In Advance - Circular
December 14, 2012 Case Laws VAT and Sales Tax

The scheme of the statute itself is first allowing a unilateral assessment by the assessee, thereafter a unilateral assessment by the Assessing Officer and thereafter......
December 14, 2012 Case Laws VAT and Sales Tax

Once the legislative scheme is not found to be in contravention of the Constitution of India or as causing any prejudice to the assessees, this Court will not interfere.....
December 13, 2012 Case Laws Central Excise

Eligibility for exemption under Notification No. 50/2003-C.E. – area based exemption - merely because of inadvertent clerical error regarding Notification No. in the......
December 13, 2012 Case Laws Customs

Re-export the goods - drawback claim – the fact of export of imported goods had not been declared by the petitioner and the shipping bills had not been filed, under......
December 13, 2012 Case Laws Income Tax

If as contended by the Revenue, Section 44DA covers all types of services rendered by the non-resident, that would reduce section 44BB to a useless lumber or dead letter....
December 13, 2012 Case Laws Income Tax

Application of income versus diversion of income at Source - There is no provision to tax a person on the basis of the deemed income for the purpose of capital gain tax. - HC
December 13, 2012 Case Laws Income Tax

Disallowance u/s 40(a) (ia) - payment made to transporters - assessee had not furnished form No. 15J before 30th June 2006 as required under Rule 29D - no disallowance -....
December 13, 2012 Case Laws Income Tax

Deduction u/s 80IB - deduction to small scale industrial units engaged in manufacture or producing articles or things. - reduction in investment limit from Rs. 3 crore......
December 13, 2012 Case Laws Income Tax

As the assessment order passed after the death of the assessee was not a valid assessment. AO is directed to pass fresh assessment order after affording reasonable......
December 13, 2012 Case Laws Income Tax

Holding period of property - LTCG / STCG - Date of purchase agreement or date of final payment/date of registration or from date of possession - holding period has to be....
December 13, 2012 Case Laws Service Tax

Supply of Tangible Goods service - The fact that SOTG service was introduced in 2008 does not mean that the same service was not covered by any service earlier. - AT
December 13, 2012 Case Laws Service Tax

Demand of service tax on renting of immovable property - Extended period of limitation - Prime facie the Commissioner of Service Tax has not properly applied his mind to....
December 13, 2012 Case Laws Service Tax

Scope of the term Export - Money transfer business – It is Western Union who is the recipient and consumer of this service provided by their Agents and sub-agents, not......
December 13, 2012 Circulars DGFT

Amendment in Para 3.11.8 of Handbook of Procedures Vol. I (RE 2012)/ 2009-14. - Public Notice
December 12, 2012 Case Laws Central Excise

Service of show cause notice - in absence of any evidence regarding service of show cause notice on the respondent prior to 22-7-2005, the impugned order of Commissioner....
December 12, 2012 Case Laws Central Excise

Remission of excise duty - fire incident - appellant has placed sufficient material on record to show that finished/semi-finished goods were destroyed in fire accident......
December 12, 2012 Case Laws Customs

Jurisdiction to adjudicate the matter - prayer made by the learned AR cannot be accepted as there is no adjudicating authority appointed to adjudicate the impugned show....
December 12, 2012 Case Laws FEMA

Master Circular on Wilful Defaulters - dis-closer of information by the Bank to RBI - FWilful defaults of parties of dues under a derivative transaction with a bank are.....
December 12, 2012 Case Laws Indian Laws

Maintainability of compensation applications u/s 12B of MRTP Act - These powers vested in the MRTP Commission under sub-section (3) of Section 12B of the MRTP Act are......
December 12, 2012 Case Laws Indian Laws

Professional misconduct of Advocates - filing a compromise deed by forging and fabricating the signatures - Thus it would be just and proper if the respondent-advocate......
December 12, 2012 Case Laws Income Tax

Rental Income - Business Income vs Income from House Property - rental income received from Ms. Rekha Jalan (director) has to be treated as business income and rental......
December 12, 2012 Case Laws Income Tax

Withdrawal of objection submitted before DRP - DRP has not issued any direction on merits of the proposed draft assessment order; therefore, the Assessing Officer got......
December 12, 2012 Case Laws Income Tax

Imposition of Penalty u/s 271(1)(c) - The explanation given by the assessee for the depreciation claim, is neither bona-fide, nor substantiated - penalty confirmed - HC
December 12, 2012 Case Laws Income Tax

Computation of income - Income from house property - notional interest not to be included in the municipal ratable value - AT
December 12, 2012 Case Laws Income Tax

As per AS-9 which gives the option of proportionate completion method and completed service contract method, out of which one is following by the assessee. AO rejected......
December 12, 2012 Case Laws Companies Law

Claim of Excise Department - Liability to pay Interest on principal amount - co. in liquidation - Claim of interest of the Department (Central Excise) dis-allowed - HC
December 11, 2012 Case Laws Customs

Refund - unjust enrichment – uniformity in price before and after assessment does not lead to inevitable conclusion that incidence of duty has not been passed on to......
December 11, 2012 Case Laws Customs

Transaction value for the purpose of levy of customs duty - royalty is paid for the supply of the goods as a condition of sale has to be necessarily included in the......
December 11, 2012 Case Laws Income Tax

Exemption u/s 54F – Capital Gain - The case of Leena J Shah (2005 (11) TMI 386 - ITAT AHMEDABAD), and not that of Prema P. Shah (2005 (11) TMI 182 - ITAT BOMBAY-J),......
December 11, 2012 Case Laws Companies Law

The company should not be wound up merely because of disputes which have arisen between the two groups of shareholders; if the same can be resolved by alternate modes......

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