Home Highlights June 2014 Year 2014 This

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1. Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid...

2. The case pertains to the levy of interest u/s 234C for failure on the part of the payer to deduct tax deducted at source (TDS) u/ss 196D and 194LD. The key points are:...

3. Refund claim towards excess custom duty paid - same amount paid twice through oversight and bonafide mistake - The petitioner is entitled to get refund along with...

4. Disallowance of education cess on income tax and dividend distribution tax u/s 40(a)(ii) - Assessee has fairly conceded that as per amendment vide Finance Act, 2022...

5. Allowability educational cess paid on income tax as expenses - since education Cess is not tax this is an allowable expenditure as per provision of section 40(a)(ii)

6. Refund of Tax - a deemed acceptance of the return of income furnished by the assessee stands and holds good and consequently, any tax paid either along with the return...

7. Denial of deduction of donation u/s 80G - genuine donation or bogus - Since SIES has not specifically stated that the amount received from the assessee was returned back...

8. When assessee allotted plot by Noida Authorities, entered agreement to sell on 07.02.2003 receiving Rs. 4,50,000/-, remaining Rs. 4,76,000/- paid to Noida Authorities as...

9. Reversal of input tax credit against the supply - Without furnishing any details to the assessee, the authorities could not have directed reversal of the input tax...

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

11. Addition of amounts written off - payment of service tax to its distributors - when the assessee company has paid amount to its distributors who had actually paid the...

12. Whether the Assessee is entitled to utilise and set off the accumulated unutilised amount of Education Cess (EC), Secondary and Higher Education Cess (SHEC) and Krishi...

13. Long-term capital gains - receipts by the assessee as per the consent decree passed by the Hon”ble Bombay High Court - suit for specific performance of the Agreement to...

14. Offences punishable u/s 276C(2) and 277 - assessee paid at a lesser amount than actually shown in the counter file of the income tax challan enclosed along with returns...

15. Deduction u/s. 80IB(10) - non filling of return on time - the ITAT held that the return filed beyond the due date cannot claim deduction under section 80IB(10) as per...