Home Highlights June 2013 Year 2013 This

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1. Cash credit u/s 68 r.w.s. 115BBE - cash deposit during demonetization period - assessee's failure to maintain books of accounts u/s 44AD. Held that where exemption from...

2. Additions towards Difference in receipts/sales which the assessee has agreed - If assessee has agreed for the difference, then there is no reason for the assessee to...

3. Penalty proceedings u/s 271B for failure to get accounts audited. The assessee's main income was commission earned from sales of milk, acting as an agent for the mother...

4. Sale tax paid on sales return - allegation of bogus sales - allowable business loss - When the factum of sales return has been proved in favour of the assessee and...

5. Valuation - Sales tax / Service Tax in J&K - inclusion of service tax in the gross turnover for the purpose of levy of Sales Tax / TDS - Relief granted to the petitioners - HC

6. The case pertains to the levy of interest u/s 234C for failure on the part of the payer to deduct tax deducted at source (TDS) u/ss 196D and 194LD. The key points are:...

7. The assessee, a trust, claimed to be taxed at the same rate applicable to its beneficiary u/s 115BAA. However, this claim was dismissed as the assessee was not treated...

8. Payment of Interest for Sales Tax Default - interest paid by the assessee to the sales tax department on arrears of sales tax/purchase tax was an admissible deduction - AT

9. FTS in the given case would be taxed at the beneficial rate of 15% on gross receipts as provided in Article 13(2) of the India-UK DTAA. - the tax liability borne by GRSE...

10. Proceedings against CIT - alleged lapses/irregularities in eight cases - extension of favor to assessee - HC

11. The case pertains to the determination of the date of "purchase" for claiming deduction u/s 54F of the Income Tax Act. The issue revolves around whether the assessee has...

12. Recovery of sales tax dues - encumbered property or not - liability of auction purchasers - this is a clear case in which the Sales Tax Department had a charge on the...

13. Service tax liability on sale of imported tally software was disputed. Appellant was a distributor marketing and installing the software on behalf of the seller holding...

14. Non-payment of Service tax - gross fee collected for Commercial Coaching and Training Services - the assessee is not entitled to deductions on account of sale of books,...

15. Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid...