Home Highlights December 2014 Year 2014 This

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1. Deduction u/s 80IA - AO held that the assessee maintained consolidated figure of power generation unit and no separate and independent books of account was maintained by...

2. CENVAT Credit on returned / damaged goods - Rule 16 of central excise rules, 2002 - re-winding or reconditioning of the yarn is impossibility and no credit on the return...

3. Captive consumption - Valuation - w.e.f. 16-3-1995, the process of winding i.e. transferring the yarn from bobbins to cones was no longer a process of manufacture -...

4. Benefits of exemption - The Hank Yarn of others types of Yarns like Silk for Handloom Kancheepuram and Banarasi Silk Sarees, Khadi Slik, Linen fabric are also used by...

5. Reopening of assessment u/s 147 - AO while making the regular assessment did not undertake the scrutiny that he should have undertaken in respect of the investment into...

6. Assessment completed u/s 144 - defective return - Return filed in response to the notice issued u/s 153A it has been stated that the return filed u/s 139(1) of the Act...

7. Classification of goods - rate of GST - HSN Code - used/running Wind Turbine Generator (WTG) / Wind Mill with accessories for sale purpose - entire unit of wind mill is...

8. Seeking for an order of winding up of the respondent-company - As pointed out that striking of the name of the company should not come in the way of passing an order of...

9. When the AO rejects the revised return then the whole return is invalid. In case AO makes addition from the revised return then it means that he recognizes the revised...

10. Validity of return filed manually - The provisions of section 292B also comes to the rescue of the Assessee in as much as the return filed cannot be invalid merely by...

11. Depreciation on wind electric generations - wind mill generator is nothing but wind mill equipment on which depreciation is allowable @ 100% as per the statutory provision - AT

12. Classification of intermediate goods - Nylon/Polyester Filament Yarn, partially oriented yarn (POY) - as per test report with regard to the samples of classification...

13. Rate of Tax - Yarn - this being an exemption clause, strict interpretation has to be given to such exemption clause, and there is no room for any liberal interpretation...

14. The Delhi High Court considered the winding up of an unregistered foreign company for non-payment of outstanding dues u/s 433(e) and (f) read with Sections 434 and 439...

15. Note on Simplified Returns and Return Formats July, 2018