Home Highlights May 2014 Year 2014 This

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1. Determination of turnover for presumptive taxation u/s 44AD - The assessee contended that receipts cannot be treated as ancillary receipts as the assessee had already...

2. Non-resident individual seconded on overseas assignment to UK - Salary received for employment exercised in UK taxable only in UK under Article 15(1) of India-UK DTAA,...

3. Penalty u/s 271(1)(c) was imposed despite the assessee withdrawing the exemption claim u/s 10(38) for Long Term Capital Gain (LTCG) on sale of penny stocks and offering...

4. Computation of deduction u/s 80IB/80IC - allocation of advertisement expenses to the eligible units in the ratio of turnover of eligible units to the total turnover of...

5. Levy of GST - Place of supply - Tax imposed on exhibition services received by the petitioner in non-taxable territory from the person located in non-taxable territory...

6. Coaching or training to the employees of the buyer concerns - not taxable - AT

7. Non-filer assessee had taxable income but failed to file return u/s 139(1), later filed return in response to notice u/s 148 without considering section 50C provisions,...

8. Assessee employed by Indian entity but sent on long-term international assignment to Singapore. Salary received in India for administrative reasons, but employment...

9. The ITAT Jaipur, in a case involving unexplained money u/s 69A, found that the assessee, a widow running a medical retail store, deposited cash exceeding turnover. The...

10. Addition on noting made in scribbling pad found and seized - AO ought to have considered the entire material available in the diary in toto together with the explanation...

11. Revision u/s 263 by CIT - when the assessee's case was that the CIT had ignored the explanation and submission therefore, if the tribunal was of the view that the CIT...

12. Additions towards difference in the 26AS (TDS statement) and the books results - books of account of the assessee duly audited - We have noted that the audited books of...

13. Penalty u/s 271(1)(c) - accepted quantum addition - in penalty proceedings he offer explanation that the jewellery found during search were already offered to tax in the...

14. TP Adjustment - comparable selection - upper turnover filter - The assessee submits that the turnover of the assessee is only Rs. 124 Crores during the relevant previous...

15. Exclusion of insurance charges from the export turnover for computing 10AA deduction - The assessee has not charged its customers separately in respect of the insurance...