Home Highlights December 2013 Year 2013 This

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1. Notification U/s 80IB(4) - the process of bottling the LPG Gas into cylinder makes the same marketable - It therefore follows that a new product comes into existence -...

2. Whether the security deposits collected from customers on letting out the Gas Cylinders is trading receipt, whether these Gas cylinders would constitute as plant as per...

3. The activity of filling imported Hepta Propane/FM-200 gas from bulk containers into smaller empty cylinders does not constitute a manufacturing process under Note 9 to...

4. Depreciation on glow sign boards and oxygen gas cylinders was rejected by the Assessing Officer, holding that the transaction on the last day of the accounting year...

5. Depreciation on the 1250 gas cylinders - leasing out of gas cylinders - assessee has proved ownership of these gas cylinders and use of these gas cylinders for business...

6. Sale of gas cylinders to be included in the turnover or not - business of supply of gas cylinders to the consumers - sale of gas cylinders was liable to be included on...

7. Depreciation - Whether the chlorine toners used by the assessee were gas cylinders – Gas cylinders including valves and regulators were entitled to depreciation at the...

8. Security for gas cylinders received - the security for gas cylinders received by the assessee could not be treated as trading receipt. - HC

9. Area Based Exemption - The exemption cannot be restricted to products which are formed in the gaseous stage alone for the reason that the exemption refers to gas based...

10. Depreciation u/s 32 - scope of the term "Plant" - bottles and crates appellant-assessee uses in the course of carrying out its business can be treated as plant within...

11. Once the income from leasing those gas cylinders is accepted as the "business income", which is taxed at the hands of the assessee as such, we see no reason how the...

12. Valuation of goods - Whether cylinder rental charges and cylinder repair/ testing charges would be includible in the assessable value of the gases being sold - Held No - AT

13. CENVAT Credit - capital goods - movement (transport) of Hydrogen Gas Cylinder outside factory premises for refilling etc. - credit cannot be denied on temporary taking...

14. No e-way bill is required to be generated - where empty cylinders for packing of liquefied petroleum gas are being moved for reasons other than supply - See GST Rule 138...

15. Levy of VAT / Sales Tax - Since the the sale of goods has taken place outside the State of Gujarat, the question as to whether or not subjecting the Natural Gas to the...