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Highlights / Annotations / Catch Notes For 2012

Home Highlights Year 2012

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Showing 1001 to 1050 of 3762 Records

1 ....17 18 19 202122 23 24 25........ 76

September 14, 2012 Case Laws Income Tax

Contingent deposits from the leasing/hire purchase customers with a view to protect themselves from sales tax liability - assessee claims that it is refundable in case......
September 14, 2012 Case Laws Income Tax

Business income or Income from other sources - Interest income on Foreign Currency Deposit Account - Matter remitted back to ITAT to decide afresh after examining as......
September 14, 2012 Case Laws Income Tax

Neither Section 80HH nor Section 80I statutorily obliged assessee company to maintain its accounts unit-wise - it was open for it to maintain its accounts in a......
September 14, 2012 Case Laws Income Tax

Charitable purpose u/s 2(15) - In the place like Mumbai, where we are encountered only with tall buildings and sky scrapers, a park is maintained and developed which not....
September 14, 2012 Case Laws Income Tax

Royalty expenditure - Capital OR Revenue - assessee purchased distribution rights of the Punjabi film - As the AO has ignored the Board Circular No. 92 dated 18.9.1972......
September 14, 2012 Case Laws Income Tax

TDS on commission/fee paid to Consortium Members - travel agents - Since the assessee only distributed the income in terms of the agreement and this did not amount to......
September 14, 2012 Case Laws Income Tax

Interest on refund of income tax received by the PE of the assessee - taxability - applicability of Article 12(5) or Article 12(2) of DTAA between India and France - not taxable - AT
September 14, 2012 Case Laws Income Tax

Disallowance u/s 14A r.w.r. 8D - Even where the assessee claims that no expenditure has been incurred in relation to income which does not form part of total income, the....
September 14, 2012 Case Laws Income Tax

Rectification u/s 154 - Admittedly, this is a mistake apparent from record as this business loss determined in AY 1998-99 can be carried forward till 2006-07 and not in.....
September 14, 2012 Case Laws Income Tax

LTCG - exemption u/s 54F - At this point of time, it is not possible to verify the condition of the building and or to whether it was habitable at the time of its......
September 14, 2012 Case Laws Income Tax

Capital gains - sale of flat allotted by cooperative housing society - cost of acquisition, non-allowance of registration expenses and cost of improvement - cost as......
September 14, 2012 Case Laws Income Tax

Issues which were neither the subject matter of AO’s order u/s.143(3) nor the subject matter of the appeal before the CIT(A) - CIT in exercise of his powers u/s.263......
September 14, 2012 Case Laws Income Tax

The income relatable to earlier year cannot be added to the income of this year - AT
September 14, 2012 Case Laws Income Tax

Interest on government loan - Government company - assessee has not paid even a single instalment of either the principal amount or the interest - claim of of deduction....
September 14, 2012 Case Laws Indian Laws

Disclosure to the Media was by SEBI in breach of confidentiality - Directions with regard to reporting of matters (in electronic and print media) which are sub judice -.....
September 14, 2012 Case Laws Customs

Petition for contempt - illegible search despite court orders - Assistant commissioner found guilty of contempt - punish him with simple imprisonment of three months - HC
September 14, 2012 Case Laws Central Excise

EOU Unit can claim exemption from payment of SAD if the goods are cleared into DTA are not exempted by the State Government from the payment of Sales Tax - AT
September 14, 2012 Case Laws Customs

Drawback claim - conversion of shipping bill from DEPB scheme to Duty Drawback Scheme - powers are vested with the Commissioner of Customs and not with the Assistant Commissioner - HC
September 14, 2012 Case Laws Service Tax

Interior Decorators versus Works contract - making wooden furniture as per design and drawing - civil work, painting work, plumbing work and electrical work - held as......
September 14, 2012 Case Laws Central Excise

Denial of rebate claim - non-adherence input/output norms - claim application was also found to be blank in some respect - no rebate / refund - AT
September 14, 2012 Case Laws Central Excise

Power of CBEC to issue clarification u/s 37B on demand with respect to levy of duties of excise on such goods - petitioner has no such right to demand a clarification - HC
September 14, 2012 Case Laws Central Excise

Export of goods – Drawback claim – in the absence of retest of remnant samples as the remnant samples were not available - original authority directed to sanction the......
September 14, 2012 Case Laws Central Excise

Classification - manufacture of Potato wafers – the goods, in question, are snacks (Namkeens), the same are covered by Notification No. 4/97-C.E. - exemption allowed - AT
September 13, 2012 Circulars Income Tax

Constitution of an Expert Committee on GAAR to undertake stakeholder consultations to finalize the guidelines for General Anti Avoidance Rules (GAAR) - Scope of terms of....
September 13, 2012 Circulars FEMA

Overseas Direct Investments by Indian Party – Rationalisation - Circular
September 13, 2012 Case Laws Income Tax

Assessment of business income - whether the assessee should be held to be an “agent” of the State or an “arm” of the State and exempt from assessment of income? - AT
September 13, 2012 Case Laws Income Tax

Revision u/s 263 by CIT(A) - It is settled position of law that failure to make enquires which are required in the facts of the case would itself make the assessment......
September 13, 2012 Case Laws Income Tax

Rental income from the property - the income does not become income from trade or business if the hiring is inclusive of certain additional services such as heating,......
September 13, 2012 Case Laws Income Tax

Principle of Mutuality - as predominant object of the assessee has been found the welfare of its members and in the process if any income is received from a person other....
September 13, 2012 Case Laws Income Tax

Addition u/s 40A(3) - cash purchases above Rs 20,000 - assessee made final purchases from the Arhatiyas (commission agents / traders) and same cannot be treated as......
September 13, 2012 Case Laws Income Tax

Best judgement assessment - rejection of books of accounts - trading addition made on ground of decrease in G.P. rate - Explanation of the assessee can not be rejected in totto. - AT
September 13, 2012 Case Laws Income Tax

Deduction u/s 80IC - items were being manufactured at the specification of the customers and certain bought items were put together for supply the complete unit, i.e.......
September 13, 2012 Case Laws Income Tax

Exemption u/s 54EC - once money is deposited in the bank account it gets merged with other funds of the assessee and it is impossible to locate which funds have been......
September 13, 2012 Case Laws Income Tax

Since the acquisition of land is of capital nature and therefore, interest paid for borrowings for the purpose of purchasing of such land is not allowable. - AT
September 13, 2012 Case Laws Income Tax

Long term capital gain - dispute regarding computation of fair market value(fmv)as on 01.04.1981 - Valuation as per registered valuation accepted - however with regard......
September 13, 2012 Case Laws Income Tax

DTAA between India & UAE – casual attitude of the DRP leads to harassment of the assessee and drag them to protracted litigation - AT
September 13, 2012 Case Laws Customs

If the goods are seized or detained by the proper officer, the assessee shall not be charged with any rent or demurrage on the goods - AT
September 13, 2012 Case Laws Customs

Section 48 is not a contravention of the nature prescribed under Section 117 of the Customs Act, 1962 for non-filing of bill of entry within 30 days under Section 48 of the Act - AT
September 13, 2012 Case Laws Customs

Refund - burden of proof – Where a person claims refund of fine or penalty, there can be no presumption that he has passed on this incidence to any other person - AT
September 13, 2012 Case Laws Service Tax

Non registration - as the cause explained by the Appellant not to follow the provisions of the Finance Act, 1994 is reasonable no penalty u/s 76 is levied in view of the....
September 13, 2012 Case Laws Service Tax

Clearing and forwarding agent - 16-7-1997 to 31-8-1999 - case of the assessee comes within the definition of bona fide doubt and in that event, the extended period is......
September 13, 2012 Case Laws Service Tax

Penalties under Sections 76 and 77 - CBEC has directed not to commence proceedings where the assessee discharges full amount of service tax and interest - penalty waived - AT
September 13, 2012 Case Laws Central Excise

Cenvat Credit - Rule 6(1) shall apply in respect of goods used as fuel and on such application, the credit will not be permissible on such quantity of fuel which is used....
September 13, 2012 Case Laws Central Excise

Rebate claim – rejection of claim for non-endorsement of the name of the merchant exporter in the CT-I Certificate - substantive benefit cannot be denied for procedural lapses - CGOVT
September 13, 2012 Case Laws Central Excise

Refund / Rebate claim – EHTP unit - payment of duty on exempted goods – Government cannot retain the amount collected without authority. - Re-credit allowed - CGOVT
September 12, 2012 Case Laws Income Tax

Commencement of business - The AO as well as CIT(A) have misdirected themselves in this regard by laying emphasis on flow of revenue as a condition precedent for coming.....
September 12, 2012 Case Laws Income Tax

Technical Assistance Agreement - Acquiring of know-how - Once Section 35AB of the Act comes into play, then Section 37 of the Act has no application - SC
September 12, 2012 Case Laws Income Tax

TDS - commission or brokerage to the persons carrying on the business as “stamp vendors“ - bulk quantity - said discount is in the nature of cash discount - Section 194H....
September 12, 2012 Case Laws Income Tax

Penalty u/s 271(1)(c) - ince Clause (2) did not prescribe the time limit within which the assessee should pay tax on income disclosed in the statement under Section......
September 12, 2012 Case Laws Income Tax

Depreciation on Aeroplane-Aeroengines - whether the "Beechcraft Super King Air B-200C" purchased by the assessee fell within the description of aeroplane? - Depreciation....

1 ....17 18 19 202122 23 24 25........ 76

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