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Highlights / Annotations / Catch Notes For 2016

Home Highlights Year 2016

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Showing 3901 to 3950 of 5838 Records

1 ....75 76 77 787980 81 82 83........ 117

April 20, 2016 Case Laws Income Tax

Building which is constructed solely for the manufacturing of medicine is a 'plant' and is entitled to higher depreciation at the rate of 25% - HC
April 20, 2016 Case Laws Income Tax

Charge of interest under Section 158 BFA (1) of the Income Tax Act, 1961 were automatic and the same were leviable from the date of service of the first notice - HC
April 20, 2016 Case Laws Income Tax

Penalty u/s 271AAA - There should be some undisclosed income in the form of money, bullion etc or any entry in the books of account or other documents and the same......
April 20, 2016 Case Laws Income Tax

Bombay Stock Exchange is not a statutory body and any penalties or fines paid as the case may be under regulations and bye-laws can be considered as regulations for......
April 20, 2016 Case Laws Income Tax

Bombay Stock Exchange towards broker contingency fund and admission fees are capital in nature. - AT
April 20, 2016 Case Laws Income Tax

Adoption of fair market value as on 01. 04. 1981 for the property inherited by the assessee from his father is correct - AT
April 20, 2016 Case Laws Income Tax

Commercial activity of any charitable trust will not be subject to tax if along with commercial activities it is engaged in providing relief of the poor, education, medical relief. - AT
April 20, 2016 Case Laws Income Tax

STCL on STT paid transactions to be set off against the STCG on non-STT paid transactions allowed - AT
April 20, 2016 Case Laws Income Tax

MTM losses in respect of forward foreign exchange contract debited to the profit and loss account are allowable - AT
April 20, 2016 Case Laws Income Tax

Compensation received by the assessee is for the loss of earnings only it is revenue receipt exigible to tax and not a capital receipt - AT
April 20, 2016 Case Laws Wealth-tax

Notice issued to a person who is not in existence at the time of issuance of such notice renders such initiation invalid.- AT
April 19, 2016 Case Laws Income Tax

Deemed dividend u/s 2(22)(e) - advances being compensation for personal guarantees - as long as it is in nature of loans or advances, and other pre-conditions for......
April 19, 2016 Case Laws Service Tax

So long as the commission paid is not disputed, which can even be verified from the bank statements or certificates from the bank, rejection of claim for want of......
April 19, 2016 Case Laws Service Tax

Services of renting of machinery or equipment for production or manufacture, which is an activity relating to conduct of main business are not covered under Business......
April 19, 2016 Case Laws Service Tax

Services which are supporting in nature to the main business, like services relating to customer relationship telemarketing, office infrastructure, etc. are covered......
April 19, 2016 Case Laws Central Excise

Declaration of Retail Sale Price / Fixation of tariff value - Import of cosmetics products of a weight or measure of 10 gm or 10 ml or less - Insofar as it only fixes......
April 19, 2016 Case Laws Central Excise

If an order of refund is passed after adjudication u/s 11B, the amount refunded will not fall under the category of "erroneous refund" so as to enable the order of......
April 19, 2016 Case Laws Central Excise

When the Act or the Rules in question do not specifically prohibit restoration of an appeal, dismissed on the ground of non-deposit of the amount, the Tribunal certainly....
April 19, 2016 Case Laws Central Excise

Welding electrodes used in or in relation to the manufacture of final product whether directly or indirectly and in the factory of manufacturer are eligible for Cenvat credit - AT
April 19, 2016 Case Laws Central Excise

When lessor is a manufacturer utilizing the inputs and discharging on the final products, lessee is entitled for the Cenvat credit - AT
April 19, 2016 Case Laws Customs

Authorities can exercise such powers, if there is any error apparent on the face of the record which requires rectification - HC
April 19, 2016 Case Laws VAT and Sales Tax

In a taxing statute one has to go by the clear language of the statute and equity has no role to play while interpreting a taxing statute - HC
April 19, 2016 Case Laws VAT and Sales Tax

In case of different stand taken by the department by rejecting its own order, the exemption of entertainment tax is granted from the date of release of movie and not......
April 19, 2016 Case Laws FEMA

Detaining authority is under obligation to comply with the requirements by formulating grounds for detention - HC
April 19, 2016 Case Laws Income Tax

Expenses incurred on Life Extension Program (LEP) of Thermal Power Station to be treated as revenue expenditure - HC
April 19, 2016 Case Laws Income Tax

Consideration paid to the Government, the question of TDS u/s 194-I does not arise - the manner in which the amount was quantified and the method of selection of the......
April 19, 2016 Case Laws Income Tax

If an amount has to be determined even before an agreement for lease is finalised, the same would never form part of the rental income - no TDS u/s 194I - HC
April 19, 2016 Case Laws Income Tax

Non-compete premium received by assessee is a business receipt assessable u/s. 28(va) - as in term of Article- 7 of DTAA any business income arising to the enterprise of....
April 19, 2016 Case Laws Income Tax

Income of the Hajj firms floated by the M/s Alhind Tours and Travels Pvt. Ltd. is to be assessed in its hand only - AT
April 19, 2016 Case Laws Income Tax

Loss arising out of the commodities dealt with i.e gold, silver, copper, zinc, natural gas, nickel etc are to be considered as speculation loss only and the assessee is.....
April 19, 2016 Case Laws Income Tax

When profits or losses, as a result of execution of project as such, belong predominantly to the assessee, the assessee is obviously taking the entrepreneurship risk qua....
April 19, 2016 Case Laws Income Tax

Receipt by the assessee from the HUF of which the assessee was the member - treated as gift received from the relative (group of relatives) - Not Taxable u/s 56(2) r.w.s. 2(31) - AT
April 19, 2016 Case Laws Income Tax

Principle amount in the HSBC Geneva Bank account is itself not taxable due to the non-resident status of the assessee, and as there is no proof that the income has......
April 19, 2016 Case Laws Income Tax

Mere recognition by DSIR shall not entitle the assessee to claim deduction under section 35(2AB) - AT
April 19, 2016 Case Laws Income Tax

Assessee has not been handed over the relevant portion of land, disallowance of claim of provision for expenses made in the accounts of the assessee confirmed - AT
April 19, 2016 Case Laws Wealth-tax

Land acquired by Government of India under the Land Acquisition Act, 1894 - The assessee does not hold any ownership rights in the said portion of land and it is......
April 18, 2016 Case Laws Income Tax

Deemed Transfer u/s 2(47)(v) - LTCG - transfer of property through Joint Development Agreement (JDA) - if there is no performance or intention to act upon, the......
April 18, 2016 Case Laws Income Tax

Amount paid towards penalty for breach of commercial contract by the assessee is not penal in nature, but compensatory in nature - deduction u/s 37(1) allowed - HC
April 18, 2016 Case Laws Income Tax

Allowance of of bad debts - advances given by the assessee had become actually bad - deduction u/s 36(1)(vii) cannot be denied - HC
April 18, 2016 Case Laws Income Tax

Fees charged by way of admission fee, monthly subscription, admission and registration fee etc., are utilized only for the promotion of the aims and objects of the......
April 18, 2016 Case Laws Income Tax

Cash deposit into bank - No requirement under the law that assessee has to deposit the entire sale consideration into his bank account immediately. The assessee may......
April 18, 2016 Case Laws Income Tax

Deduction u/s.80P(2)(a)(i) - Assessee is entitled for deduction of interest income derived from investment of surplus funds with banks also.- AT
April 18, 2016 Case Laws Income Tax

Bad debts claimed should be set off against the opening balance available in the “Provision for bad and doubtful debts” account created u/s. 36(1)(viia) and the balance.....
April 18, 2016 Case Laws Income Tax

Sale proceeds realized over and above the cost of asset cannot be categorized as business income under commercial principles rather it represents capital receipt - AT
April 18, 2016 Case Laws Income Tax

Capital gain - Year of chargeability in the case of Development Agreements is the year in which the contract was executed - AT
April 18, 2016 Case Laws Income Tax

Default in submitting the auditor’s report mandatorily required to be furnished along with the return of income - deduction u/s 80IB(10) denied - AT
April 18, 2016 Case Laws Income Tax

Co-operative society carrying on banking business need not to deduct tax at source u/s 194A in respect of the interest paid to members on deposits - AT
April 18, 2016 Case Laws Income Tax

The assessee paid all the interest during the year, which was not payable on 31st March, 2007 no disallowance u/s 40(a)(ia) - AT
April 18, 2016 Case Laws Income Tax

Provisions for bad and doubtful debt should be restricted to the amount of such provision which are actually created in the books of account in the relevant year - AT
April 18, 2016 Case Laws Wealth-tax

The lands being agricultural lands have been excluded from the wealth tax - AT

1 ....75 76 77 787980 81 82 83........ 117

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