Home Highlights May 2014 Year 2014 This

You may also like:

1. The case pertains to the revision of an assessment order u/s 263 regarding the applicability of the higher tax rate u/s 115BBE on unexplained expenditure u/s 69C. The...

2. The expenditure incurred on marketing knowhow would result in higher sales as well as lead to higher profit - Consequently, will be revenue expenditure - HC

3. This circular clarifies the classification of clear float glass under the Customs Tariff Act, 1975. It addresses whether the presence of a tin layer on one side of float...

4. Revision u/s 263 - Every loss of revenue as a consequence of an order of AO cannot be treated as prejudicial to the interests of the revenue, for example, when an...

5. "Mark to Market” loss - AO did not disallow the claim of loss but CIT(A) disallowed the claim of loss - In the absence of any fact with regard to the nature of the said...

6. Amounts received under the Focus Market Scheme - capital OR revenue receipt - The subsidy received from Government of India under the Focus Market Scheme is Revenue in...

7. Classification of imported Automatic Data Processing Machines (ADP) - Desktop Computer - to be classified under Tariff Item 8471 50 00 or under Tariff Item 8471 30 10? -...

8. Revision u/s 263 by CIT - The phrase prejudicial to the interest of revenue has to be read in conjunction with an erroneous order passed by the A.O. Every loss of...

9. Wages/salaries of the workmen/employees during the CIRP period - There are disputed questions, whether in fact the IRP/RP managed the operations of the corporate debtor...

10. Levy of service tax - market fee - mandi shulk - whether the appellant(s) being an Agricultural Produce Market Committee was/were excluded from tax liability on and...

11. Duty drawback claim - Revenue's contention that appellant acted deliberately cannot be ruled out for the reason that an exporter who has not remitted higher amount...

12. Refund of un-utilised Cenvat credit of Service Tax - The Rule 5 read with notification is very specific and lays down how to determine the quantum of admissible refund...

13. Deemed dividend addition u/s.2(22)(e) - advances given to sister concern without interest - Transactions were purely out of trading transactions between the two concerns...

14. Demand of service tax - Market Research Agency - Observation and surveillance of markets - could fall within the ambit of the statutory definition of 'Management...

15. Depreciation on sample flat - number of days asset used - the revenue has allowed the claim of 50% of the depreciation claimed by the assessee in the first year when the...