Home Highlights July 2013 Year 2013 This

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1. Penalty levied u/s 271(1)(b) - assessee had failed to provide full submissions - penalty levied by the Assessing Officer u/s 271(1)(b) of the IT Act deserves to be...

2. This case deals with the accrual of income in India from exploration activities and the determination of whether the assessee has a Permanent Establishment (PE) in India...

3. Waiver of pre deposit - assessment of physician samples - appellants were distributing the medicaments as free samples to physicians. In this case the free samples are...

4. Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

5. Valuation - physician samples - in the absence of any allegation of price at which the samples were being sold by the assessee to the distributor, the value of said...

6. Disallowance of expenditure incurred towards free samples - On a perusal of material placed before us, it is noticed that the cost incurred by the assessee towards...

7. Addition u/s 68 - cash credit in the books of accounts - issue of shares warrant - As assessee has submitted the complete details before the assessing officer and...

8. As physician samples manufactured and cleared to brand owners/ buyers on principal to principal basis for a consideration, further distributed free of cost to...

9. The Appellate Tribunal dismissed the assessee's appeal regarding the revision u/s 263 concerning unsecured loans received. The Principal Commissioner found that the...

10. Disallowance u/s 14A read with Rule 8D - The assessing officer's reliance on CBDT Circular No. 5 of 2014 to make disallowance u/s 14A is legally untenable and liable to...

11. Revision u/s 263 - bogus purchase - proof of nexus between the purchases and sales - once submission/reply filed by the assessee, pursuant to enquiry by the Assessing...

12. Valuation of free samples - samples are distributed free to the physicians - CESTAT has accepted that the method of valuation would be `cost of production or...

13. The assessee received amounts from Indian customers for supplying software updates, patches, and on-call support services. The issue pertained to taxability of these...

14. Deduction claimed u/s 57 against income returned u/s 56 - manner of apportioning assessee's expenses to earning income u/s 56 disputed - Revenue authorities rejecting...

15. Penalty u/s 271C - Payment to Doctors - Employer / Employee relationship or not - AO directed to verify the facts - If it is found that these doctors were providing...