Home Highlights August 2014 Year 2014 This

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1. 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...

2. Accrual of income - Money received under Marketing Assistance Programme [“MAP”] - It is also surprising that the AO chose to treat only the difference between the...

3. Valuation - Nature of amount received - the appellant received some amount from the buyers of scrap and some amount from Honda India for the value of the auto parts -...

4. Capital gain or salary received - Recognizing the compensation received by the assessee as the share holding of the company - the amount received quivalent to the...

5. Taxability on Compensation received under consent decree in this civil appeal - takeover arrangement - Income from other sources OR capital receipt - SC

6. Time of supply - Absolute control of the money received in advance - The law is crystal clear that once any advance amount is received towards provision of any service...

7. Addition u/s 68 - unexplained amounts received towards Share Capital money - entry operators - HC

8. Taxability of the amount received by the assessee from his HUF, in which he is a coparcener - money received without consideration -Taxability of gift received by the...

9. Deduction u/s 37(1) - Nature of payment - Whether shaman shulk paid to Excise Department is penal in nature - The amount cannot be treated to be penalty, which can be...

10. Applicability of Advance ruling - The binding nature is to be decided with reference to the nature of decisions by the Advance Ruling Authority. It is not as if that...

11. Advance received in the nature of imprest money in the fiduciary capacity for overseas client - amount of professional advances received by the assessee accepting money...

12. Characterisation of receipt - industrial Promotion Subsidy (IPS) received - the subsidy was short recognized by the assessee in earlier years and therefore the excess...

13. The consent decree u/s 50C granted absolute ownership rights to Smt. Manju Agarwal over the 1314 sq.ft. office premises, allowing her to use, enjoy, and deal with it...

14. Exemption from GST - pure services or supply of goods to the Notified Area Authority, Vapi - Notified Area Authority, Vapi is a “local authority” or “governmental...

15. LTCG - Receipt of additional amount towards TDR - treatment to receipt of consideration the appellant ceased to be the owner of the property - compensation received for...