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Highlights / Annotations / Catch Notes For 2016

Home Highlights Year 2016

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Showing 2551 to 2600 of 5838 Records

1 ....48 49 50 515253 54 55 56........ 117

July 1, 2016 Case Laws Income Tax

Unabsorbed depreciation can be carried forward (for any number of years) and set off against the profits and gains of subsequent years.
July 1, 2016 Case Laws Income Tax

Penalty u/s 271(1)(c) - Even if ld. AO has treated the amount as capital expenditure, certainly assessee will be entitled to claim depreciation but the crux is, it is......
July 1, 2016 Case Laws Income Tax

If the expenditure is incurred for day-to-day business activities of the assessee and not for acquiring some asset it has to be allowed as revenue expenditure. - Mere......
July 1, 2016 Case Laws Income Tax

Entitlement to exemption u/s 10(23C)(iiiab) - educational institute - expenditure on scientific research - in order to claim exemption under section 10(23C)(iiiab) of......
July 1, 2016 Case Laws Income Tax

Estimation of net profits - AO without comparing earlier year results of the assessee applied 6% net profit rate without any basis and therefore, action of learned......
July 1, 2016 Case Laws Income Tax

Rectification of mistake u/s 254(2) - A person cannot say at one time one thing and then turn around to suit his needs. - Application for rectification rejected - AT
July 1, 2016 Case Laws Income Tax

Condonation of delay is an exception and should not be used as an anticipated benefit for government departments. The negligence, inaction and inordinate delay in filing....
July 1, 2016 Case Laws Income Tax

Provisions of section 40A(3) in respect of cash payments made to MSRTC and other Government Organisations towards purchase of scrap materials are not attracted. - AT
July 1, 2016 Case Laws Income Tax

Sale of flat acquired by her in lieu of surrender of tenancy rights - working out the taxable gains the assessee - AO treated the cost if acquisition as NIL - market......
July 1, 2016 Case Laws Income Tax

Transfer pricing issue w.r.t. to payment of trademark fee - there exists a direct nexus between the revenue earned by the assessee and the payment of royalty made to the....
July 1, 2016 Case Laws Income Tax

Transfer pricing adjustment - the onus is on the TPO to show that the method adopted by the assessee for benchmarking the transactions with AEs is not the most appropriate method. - AT
July 1, 2016 Case Laws Income Tax

Addition in respect of foreign buyer’s agency commission which is deducted at source from the invoice amount, by the importer at the time of making the payment - The......
June 30, 2016 Case Laws Service Tax

Import of Intellectual Property Services (IPR services) - there can be no liability to service tax under the head of IPR services in respect of an Intellectual Property.....
June 30, 2016 Case Laws Service Tax

Franchise Service - appellant gave right to use its name for running pre-primary and preparatory schools - scope of the definition of “Franchise” given in Section 65(47)....
June 30, 2016 Case Laws Service Tax

Refund of service tax paid on Construction of complex service wrongly - even if service has been paid under the mistake of law, the period of limitation of one year is applicable - AT
June 30, 2016 Case Laws Service Tax

Levy of service tax under the sub-contract agreement - validity of proof of payment of tax by the principal obtained through RTI upheld - When main contractor has......
June 30, 2016 Case Laws Customs

Condonation of delay of 19 years in filing an appeal - Recovery of penalty - The present appeal is barred by time as the same has been filed after the expiry of more......
June 30, 2016 Case Laws Customs

Discrepancy in furnishing of IGM (import manifest or import report) - Goods (transit cargo) were not mentioned in IGM - As there is no fraudulent intention, the......
June 30, 2016 Case Laws Customs

Refund of SAD - Once such ingredient of the Sale of Goods Act, 1930 is complied with, in that circumstance, sales can be said to have been effected. Otherwise it is a......
June 30, 2016 Case Laws Central Excise

The cenvat credit on photocopy of the Courier Bill of Entry cannot be denied as the same is a proper document under Rule 9 of the Cenvat Credit Rules 2004. - AT
June 30, 2016 Case Laws Central Excise

As the bagasse and pressmud are non-excisable, the question of reversing 5% or 10% of the value of goods does not arise as the common inputs not used in the manufacturing of waste - AT
June 30, 2016 Case Laws Central Excise

Refund - unjust enrichment - excess excise duty paid due to the failure of computer software cleared to their depots - Since the goods have not been sent to third party.....
June 30, 2016 Case Laws Central Excise

Classification - No marks cream/lotion are ayurvedic medicines and duty is chargeable under ETH 3003.39 of CET - Nigh Skin care cream is classifiable under CETH 3304.00 of CETA. - AT
June 30, 2016 Case Laws Central Excise

Refund - Rule 5 of the CENVAT Credit Rules, 2004 - Refund was rejected on the ground that the average export clearance of final products of the appellant in the......
June 30, 2016 Case Laws Central Excise

Valuation - the value u/s 4 does not include the amount of the duty of excise, sales tax and other taxes, if any, payable on such goods - entry tax paid by the appellant....
June 30, 2016 Case Laws Income Tax

TDS on SMS charges - sale of SMS credits - the activity carried on in the instant case does not fall under the definition of ‘work’ in terms of section 194C as it does......
June 30, 2016 Case Laws Income Tax

Revision u/s 263 - mandation for the AO to apply Rule 8 - Rule 8D is not automatic and can be resorted to by the AO only as a measure of last resort. - Revision order quashed - AT
June 30, 2016 Case Laws Income Tax

Withdrawal of deduction u/s 80IC on transport charges & transport subsidy - whether a mistake apparent from record in terms of section 154 - It is a highly debatable......
June 30, 2016 Case Laws Income Tax

Higher rate of depreciation on account of hiring of vehicles - Since the issue in the instant case is a highly debatable issue, i.e. whether the assessee is entitled to.....
June 30, 2016 Case Laws Income Tax

Agricultural income - assessee had expressed its inability to substantiate the same on the ground that he has not maintained any books of account. Under these......
June 30, 2016 Case Laws Income Tax

Disallowance u/s 14A - no dividend income has been received during the year under assessment nor it has borrowed any funds to invest in the share to earn the dividend......
June 29, 2016 Case Laws Service Tax

Job work - activity of processing of chilling of milk amounts to manufacture and it is settled law that process amounting to manufacture is not liable to service tax - AT
June 29, 2016 Case Laws Service Tax

Cenvat Credit - The department cannot construe the services provided to Jammu & Kashmir as exempted services and press into application, in such situations, Rule 6 of......
June 29, 2016 Case Laws Service Tax

Waiver of pre-deposit - Export of services or not - services have been provided by the applicant to their foreign principal located outside India or the services......
June 29, 2016 Case Laws Customs

Mis-declaration of goods - import of scull/ slag - import of hazardous waste - levy of redemption fine and penalty - Benefit of doubt goes in favor of importer -......
June 29, 2016 Case Laws Customs

Import of metallic waste and scrap - The consignment was accompanied by a Pre-shipment Inspection Certificate(PSIC) issued by Asia Globe Trade Ltd. which was not......
June 29, 2016 Case Laws Customs

Import of restricted goods being secondary and defective C.R. Coils at ICD Ludhiana - goods are liable for confiscation - redemption fined reduced to Rs. one lakhs - Penalty waived - AT
June 29, 2016 Case Laws VAT and Sales Tax

Maintainability of writ petition before the high court - three question of laws involved - transfer of business - eligibility of exemption - Section 2(41) of the Tamil......
June 29, 2016 Case Laws Companies Law

Rectification in the register of members - transfer of shares - execution of valid transfer deeds within the meaning of Section 108 is a mandatory requirement of a valid....
June 29, 2016 Case Laws Central Excise

Manufacturing activity or not - activity of cutting marble blocks into slabs / tiles - deemed manufacture - The said deeming fiction was created with effect from......
June 29, 2016 Case Laws Central Excise

Valuation - inclusion of design and engineering charges - these design and engineering charges do not pertain to the plant and equipment manufactured by the appellants......
June 29, 2016 Case Laws Central Excise

Extended period of limitation - Apart from a bald allegation there is no evidence adduced by department to establish supression or mis-statement of facts. The relied......
June 29, 2016 Case Laws Central Excise

Cenvat Credit - the activity of printing/laminating of BOPP films which were used as laminated wrapper for packing of biscuits by the appellant shall amount to......
June 29, 2016 Case Laws Income Tax

Penalty u/s. 271D - cash receipt in violation of conditions of section 269SS - The transaction was between a father and son, to meet the urgent requirement of depositing....
June 29, 2016 Case Laws Income Tax

Confirmation of allowing deduction of interest paid on borrowed funds which have been found to have direct nexus with the investment made for acquisition of shares - HC
June 29, 2016 Case Laws Income Tax

Interest income - The deposit of money in the present case is directly linked with the purchase of plant and machinery. - Interest income in the present case must be......
June 29, 2016 Case Laws Income Tax

Bogus purchases - possible inflation of purchase price - 25% of the payments made to the parties shall be disallowed on account of possible inflation of purchase price. - HC
June 29, 2016 Case Laws Income Tax

It is true that the question of capital gain came up for consideration before Assessing Officer. It is also true that the assessee had placed the materials with respect.....
June 29, 2016 Case Laws Income Tax

Principle of mutuality - 'Transfer fee' received from outgoing member of co-operative society - whether is not taxable on the basis of concept of mutuality? - even......
June 29, 2016 Case Laws Income Tax

Reopening of assessment - Obviously, in the garb of purported exercise of the power to reassess, the AO cannot be permitted to review his own order or the order passed......

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