Home Highlights February 2014 Year 2014 This

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1. Nature of activity - manufacture or service - Activity amounting to manufacture or not - crushing of lumps - Transformation processes - Transformation of goods in new...

2. Disallowances of expenses - no business activity - merely lull in the business activities does not mean that the assessee has closed down its business activities. - the...

3. Denial of claim of loss or to categorize certain expenses as pre-operative expenses - commencement of business during the year - assessee’s business was ‘set up’ or not...

4. Though there was no manufacturing and sales activity, but there certainly was some “business activity” - the revenue authorities were incorrect in disallowing the claim...

5. Whether the process of crushing of coal would amount to manufacturing activity - the activity could not be covered as a ‘manufacturing activity’ nor the crushed coal...

6. Disallowance of finance costs - proof of business expenses - Share in Joint Venture (JV) - Since assessee is not carrying on any business activity on its own, the...

7. Business expenditure u/s 37 -invocation of explanation to section 37 is uncalled for as the assessee has not made any expenses for purchase of diamonds rather entire...

8. CENVAT Credit - Input Services - services of electricity expenses in connection with their head office - The location of the head office is immaterial so long it is used...

9. Business Auxiliary Services - Job Work - when the activity undertaken by the appellant amounts to manufacture, the demand raised alleging that the said activity is a...

10. Claim of deduction u/s 80IC – Manufacture of air purifier or air purification systems amounts to manufacturing activity or not – the activity amounts to manufacture - HC

11. ALLOWABILITY OF PRIOR PERIOD EXPENSES - Article

12. Disallowance of the claim for Bad Debts written off - Disallowance of settlement expenditure - In the case of bad debts, the Appellate Tribunal (ITAT) partially allowed...

13. Allowable business expenses - There is difference between commencement of the business and setting off of the business. All the expenses incurred pre-commencement are to...

14. Deduction u/s 80IC - whether process of deriving the finished products amount to manufacture? - each of the respondents is paying excise duty, some of the respondents...

15. Deduction u/s 80 IB (10) - allowable expenses to project - Since all the administrative expenses cannot be linked to the activities reasonably, it can be allocated...