Home Highlights October 2011 Year 2011 This

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1. Sale or service - Taking of X-rays of the patient - There is no sale discernible nor can the transfer of such X-ray films in the course of para-medical services offered...

2. Benefits of Investment subsidy - the Petitioners are entitled to have the benefit of Investment Subsidy to an extent of 25% of the infrastructure cost , subject to a...

3. Exemption u/s 11 - running hospital - the chemist shop is part and partial of the hospital being incidental/ancillary to achieve the objects of the hospital - exemption...

4. Eligibility for the Exemption Notification -Ultra-Sound Scanner system - the scanner has to be considered as the main item and the 'probe', a part of the scanner and a...

5. The circular addresses amendments to the Foreign Exchange Management (Overseas Investment) Directions, 2022 regarding investments in overseas funds. It clarifies that...

6. Deemed Loss - Diminution in the value of investment in two unlisted companies - Loss in the value of investment will arise only when such shares are sold by the...

7. Investment by Foreign Portfolio Investors (FPI) in Debt - Relaxations - Exemption from the limit on short-term investments till maturity or sale of such investments in...

8. Refund of unutilized CENVAT credit - export of services - advisory services in respect of investments identified by overseas client and advise it with respect of...

9. Investment by a person resident outside India in an Investment Vehicle - FEMA - New Regulations

10. Foreign Investment in units issued by Real Estate Investment Trusts, Infrastructure Investment Trusts and Alternative Investment Funds governed by SEBI regulations - Circular

11. TDS u/s 194J - deduct tax at source on payments made to hospitals - With reference to Section 35AD(8)(C), 44AA and 80-IB, it cannot be inferred that the hospitals carry...

12. Levy of service tax on construction for Hospital - merely because the hospitals were constructed for the charitable organisations do not make the hospitals per se...

13. Assessee Bank is entitled to value all the investment at cost prices or market value whichever is lower by treating such investment as stock-in-trade, thus depreciation...

14. Capital investment - petitioner's unit entitled to get capital investment incentive/subsidy as Category (III) Mega Industrial Unit i.e. loss making, existing and...

15. Deduction of interest expenditure incurred on borrowed funds u/s 57 - Interest incurred on borrowed funds utilized for making investment in shares in company of...