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Highlights / Annotations / Catch Notes For 2016

Home Highlights Year 2016

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Showing 3601 to 3650 of 5838 Records

1 ....69 70 71 727374 75 76 77........ 117

May 4, 2016 Case Laws Income Tax

Remand orders - remand is not a power to be exercised in a routine manner and should be used fairingly as an exception only when the facts warranted such course of......
May 4, 2016 Case Laws Income Tax

Reopening of assessment - Jurisdiction - the question of an ITO who is not the AO who passed the original assessment order u/s 143 (3) for particular AY, exercising the.....
May 4, 2016 Case Laws Income Tax

The policy of non filing and of not pressing and/or withdrawing admitted appeals having tax effect of less than ₹ 20 lacs has been specifically declared to be......
May 4, 2016 Case Laws Income Tax

Deduction u/s. 35AD - mere usage of the warehousing facility for captive purposes would not disentitle the assessee from the claim of deduction u/s. 35AD - AT
May 4, 2016 Case Laws Income Tax

Benefit of proviso to section 112(1) on sale of the equity shares - tax is payable in respect of income arising from transfer of a long-term capital asset which is......
May 4, 2016 Case Laws Income Tax

Set off of Unabsorbed depreciation as on April 1, 1997 can be set off against the income from any head for the immediate assessment year following April 1, 1997......
May 4, 2016 Case Laws Income Tax

Disallowance u/s 14A - no addition can be made for interest apportioned towards exempt income, out of the interest paid, under rule 8D(2)(ii) of the Rules. - AT
May 4, 2016 Case Laws Income Tax

MAT - Computation of book profit u/s. 115JB - lease rent equalization charge cannot be said to be an unascertained liability - AT
May 4, 2016 Case Laws Income Tax

MAT u/s 115JB - assessee is entitled to reduce an amount on account of withdrawal from the provision for ESOP from the taxable book profit in the working of MAT - AT
May 4, 2016 Case Laws Income Tax

Disallowance of commission payment - disallowance merits deletion as these payments have been made by the assessee on behalf of its clients and, hence, the same does not....
May 4, 2016 Case Laws Income Tax

If the assessee has converted capital asset into stock in trade in prior years, then part of the profit arising on sale of land, shall be chargeable to tax under the......
May 4, 2016 Case Laws Income Tax

Bogus purchases of goods - When the entire purchases made from TTPL was available as stock as at the year end, then the disallowance of purchases should result in......
May 4, 2016 Case Laws Income Tax

Interest on housing loan u/s 24 - The use of the word "or" in between acquired and constructed makes it clear that the property can either be acquired or constructed......
May 4, 2016 Case Laws Income Tax

Disallowance of expenditure - taking over of the loan or discharge of the loan - it is for the business purpose of the assessee and, hence, revenue in nature and cannot.....
May 4, 2016 Case Laws Income Tax

Interest-free advance to subsidiary company - Nexus has been established by the assessee and when there is no interest burden on the assessee by virtue of the loan......
May 4, 2016 Case Laws Income Tax

Exemption u/s 54 - assessee has utilized the entire capital gains within the period of one year but due to certain circumstances beyond the control of the assessee, the.....
May 4, 2016 Case Laws Income Tax

Addition on account of software purchase - software was purchased and subsequently sold to customer and was not used by the assessee - addition deleted - AT
May 4, 2016 Case Laws Income Tax

Depreciation on application of software at lower rate - The actual cost of assets acquired from TGSL to be considered in terms of Explanation 3 to section 43(1) of the......
May 4, 2016 Case Laws Income Tax

Allowance of expenditure in respect of preliminary expenses under section 35D - an apparent extension or expansion must take place by establishing new undertaking - The.....
May 4, 2016 Case Laws Income Tax

Credit purchases are nothing but expenditure and if sundry credits are not proved by the assessee addition can be made by the AO by resorting to section 69C - HC
May 3, 2016 Case Laws Service Tax

Test of input being used in or in relation to manufacture is to be applied to consider allowance of CENVAT credit of the service tax paid on the input utilized and......
May 3, 2016 Case Laws Service Tax

The transport of chlorine through pipeline is done by the appellant in their own account and the delivery on sale is made to the buyer. The transportation charges are......
May 3, 2016 Case Laws Service Tax

In the absence of any co-relation and linkage with the services and with the export of the goods, the refund cannot be granted in terms of Notification No. 17/2009-ST - AT
May 3, 2016 Case Laws Central Excise

Mandatory provision to deposit 7.5% of the demand of duty and penalty for entertainment of appeal - Court in exercise of its jurisdiction under Article 226 of the......
May 3, 2016 Case Laws Central Excise

Penalty u/s 11AC cannot be imposed if there is no suppression or misstatement by the assesseeu/s 11A - HC
May 3, 2016 Case Laws Central Excise

Clandestine removal - excess quantity - In the absence of clinching evidence regarding purchase of raw materials, use of extra electricity, sale of final products and......
May 3, 2016 Case Laws Customs

Goods in respect of which any prohibition is in force in the context of Section 112 would imply to goods which are prohibited from being imported and not goods which......
May 3, 2016 Case Laws Customs

Suspension of CHA licence - If licence got renewed during continuation of suspension, the continuation of suspension is not legally sustainable - AT
May 3, 2016 Case Laws Customs

Revokation of CHA licence and forfeiture of security - As per Regulation 20, statutory time limit prescribed for issuance of show cause notice is 90 days of offence report - AT
May 3, 2016 Case Laws Customs

Having deposited full amount of duty, interest and 25% of penalty, no further proceedings were required to be continued in terms of the provisions of Section 28(1A) and.....
May 3, 2016 Case Laws Customs

Provisions of Section 28(1A) are applicable only in respect of proceedings under Customs Act, 1962 and provides for conclusion of proceedings under Customs Act only, not....
May 3, 2016 Case Laws Customs

Import of baggage - Passenger brought dutiable goods into the country while leaving blank the relevant column in the disembarkation card ought not to be considered as an....
May 3, 2016 Case Laws VAT and Sales Tax

Amnesty Scheme - Additional Commissioner has no power to reject the application under Amnesty Scheme - Power only could have been exercised by the Commissioner, VAT Delhi - HC
May 3, 2016 Case Laws VAT and Sales Tax

The invoking of the revisional power by the Deputy Commissioner u/s 46 of the DST Act was unjustified and unwarranted. The impugned SCN requires to be quashed on this ground alone - HC
May 3, 2016 Case Laws VAT and Sales Tax

A quasi judicial authority should discharge the statutory discretionary powers independently and not under the dictation of superior officers - HC
May 3, 2016 Case Laws VAT and Sales Tax

Refund of amount paid to get the goods released - truck not stopped at the checkpost - Insofar as a truck which has already entered the State is concerned, it is the......
May 3, 2016 Case Laws Income Tax

Proceeding conducted by Settlement Commission - any direction issued to the Settlement Commission during the pendency of the proceedings before it would amount to......
May 3, 2016 Case Laws Income Tax

Waiver of levy of interest u/s 234B - Application made u/s 119(2)(a) before CCIT - Chief Commissioners of Income Tax cannot exercise that power except in accordance with....
May 3, 2016 Case Laws Income Tax

Since the nonresident overseas entities did not carry any activity or business operation in India, and they did not render any service in India, no portion of their......
May 3, 2016 Case Laws Income Tax

TDS on the payment made to overseas entities for logistic services - no question of treating the relationship between the Appellant Company and the overseas entities as.....
May 3, 2016 Case Laws Income Tax

TPA - addition of AMP expenses - TPO has failed to prove that the real intention of the assessee in incurring advertisement and marketing expenses were to benefit the......
May 3, 2016 Case Laws Income Tax

Difference on account of exchange rate fluctuation is entitled to deduction under section 80IB - AT
May 3, 2016 Case Laws Income Tax

Deemed dividend addition u/s.2(22) - trade advance in relation to business transaction cannot be treated as deemed dividend - AT
May 3, 2016 Case Laws Income Tax

Advance received in the nature of imprest money in the fiduciary capacity for overseas client - amount of professional advances received by the assessee accepting money.....
May 3, 2016 Case Laws Income Tax

Penalty under section 271C - failure to deduct tax - assessee has not been treated as an "assessee-in-default" as per section 201 of the Act and is, therefore, neither......
May 3, 2016 Case Laws Income Tax

Exemption on the principle of mutuality claimed - as the individual beneficiaries of the trust cannot be identified, therefore, there is no question of applying the......
May 3, 2016 Case Laws Income Tax

LTCG - Benefit of indexation - beneficial owner - the cost incurred by the previous owner shall be adopted while computing capital gains in the hands of the assessee -......
May 3, 2016 Case Laws Income Tax

Non granting of depreciation on earned tools used for the business - tools and machineries, which are purchased by the assessee, are not eligible for depreciation but......
May 3, 2016 Case Laws Income Tax

Treatment to commission income - commission income earned by the assessee is chargeable to tax under the head of "Profits and gains of the business" only. As business,......
May 3, 2016 Case Laws Income Tax

Entitlement to exemption u/s 11(2) - Since the assessee has followed the procedure for accumulation except for the technical lapse, which can be condoned and since the......

1 ....69 70 71 727374 75 76 77........ 117

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H: Loan to equity conversion attracts income tax on excess share premium ...

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