Home Highlights July 2014 Year 2014 This

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1. Exemption from payment of property tax under the provisions of the UP Municipal Corporation Adhiniyam, 1959 - The Supreme Court held that, the enemy properties vest in...

2. Capital gain in respect of sale of only one property - addition u/s 50C - assessee itself had leasehold rights in the said property and hence in instant facts, the...

3. Levy of property tax - warehouse - property tax on the value of storage and water tanks of the IOC situated in the industrial development area of Cuddapah (A.P.) - The...

4. Understatement of income - treatment of lease transactions as sales transaction - The Income Tax Authorities has not doubted the legal effect of the lease deed (being...

5. Capital gains - treating information contained in ITS as related to transaction of sale of immovable property - Assessee had pointed out how the two transactions...

6. CIRP - Transfer of property under auction - status of "charge" created on the property - Right and liability of the purchaser of property - Even otherwise as per Section...

7. Levy of service tax - Life Insurance Service - Renting of Immovable Property Service or not - On the taxability of life insurance service, the Tribunal determined that...

8. Benami Property Transaction - title over the suit properties - Moreover purchase of a property by husband in the name of the wife cannot be called a benami transaction...

9. Job work - Material, used in repair, transferred to principal - levy of tax - there is transfer of materials in the repair and maintenance done by the...

10. Disallowance u/s 43B - property tax levied by the Municipal Authority is a charge on the property. Undisputedly, the licensor is the owner of the property, hence, liable...

11. SEZ unit - Levy property tax at “industrial rates” instead of “Commercial Rates” - The charging provision is under Section 87 of the 1994 Act which rather permits levy...

12. Capital gain/ loss on sale of property - unregistered sale agreement - whether it constitute valid transfer under section 53A of Transfer of Property Act - There is no...

13. Exemption form GST on the business transfer undertaken - transfer of a going concern - transfer of a going concern means transfer of a running business which is capable...

14. Manufacturing activity or repair activity - activity carried out by the Appellant on the defective compressor is clearly an activity of repair and by no stretch of...

15. Levy of service tax - real estate agent - collecting transfer/administrative charges - Referring to precedents, the Tribunal affirmed that charges for changes in...