Home Highlights January 2014 Year 2014 This

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1. Sections 132B, 140A, 153A and 234B of the Income Tax Act, 1961 were analyzed regarding adjustment of seized cash against tax liability. The appellants claimed that cash...

2. Addition u/s 40A (3) - expenses incurred by the assessee for the purchase of raw hides and skins in cash - Notices to sellers sent u/s 133(6) of the Act have returned...

3. Reassessment - 'raw hides and skins' and 'dressed hides and skins' both are different commodities. - HC

4. Validity of refund order - Failure to get Certificate of Export in time - the revisional authority passed an order assessing the tax liability of the appellant/writ...

5. 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...

6. The High Court addressed the issue of liability to pay excess tax collection to the Government when the respondent's tax liability is higher than the tax collected. The...

7. Reforms in Tax Rates - tax rates of the major countries of Asia

8. Discretionary trust liable to pay tax at maximum marginal rate, including highest slab rate of income tax and surcharge applicable to individuals. Section 2(29C)...

9. Refund of excess collection of tax - payment of tax at higher rate, in the absence of Form ‘C - Price / rate is inclusive of tax - the rate of CST applicable for the...

10. Self Adjustment of excess service tax paid with the service tax liabilities for subsequent period - Service tax amount paid at higher rate for the service tax...

11. Composition scheme - exercising option prior to payment of service tax - The payment of tax under the composition scheme upon notification of the scheme vide a...

12. Validity of determination of GST liability (demand) u/s 73(1) - Rejection of the compounding application - Eligibility for composition scheme u/s 10(2)(a) - The High...

13. Rate of tax on assessed income of Non-Resident assessee - Partner in Joint Venture - Claim of Benefit of DTAA - to settle the matter at rest, the assessee is willing to...

14. Reduction in tax liability - payment of tax at compounded rate - The assessee with open eyes applied under the scheme and obtained permission. There was no cause for any...

15. This circular clarifies the scope of regularization on an "as is" or "as is, where is" basis mentioned in previous GST circulars issued based on GST Council...