Home Highlights December 2014 Year 2014 This

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1. Provision for Bad debts - Rural branch - section 36(1) (viia) - No doubt, “place” as such is not defined in the definition clauses and so much so, we have to find out...

2. Valuation of imported goods - used office furniture - rejection of declared value - Admittedly, the imported goods were used goods/equipment and not new equipment, as...

3. The ITAT considered an appeal regarding addition u/s 56(2)(viib) concerning the valuation of preference shares. The Assessee lacked a valuation report supporting the...

4. Adani group - The Hindenburg Report - The reliance placed by the petitioner on the OCCPR report to suggest that SEBI was lackadaisical in conducting the investigation is...

5. This case pertains to the validity of an order passed u/s 250 by the Commissioner of Income Tax (Appeals) regarding the disallowance of expenditure due to a...

6. CENVAT Credit - place of removal for the GTA Services provided under a F.O.R sale contract - The High Court determined that in an F.O.R sale, where ownership remains...

7. Enhancement made by the Ld. CIT(A) u/s 251(1) r.w.s. 56(2) (viib) - AO substituted fair market value determined by the assessee through his own valuation - Assessees...

8. Valuation of export goods on which duty has to be paid - iron ores - The Tribunal determines that the transaction value specified in the contract between the appellant...

9. Additions against Over-invoicing of Purchases - The Tribunal found that the AO's selective reliance on pieces of evidence without considering the entirety of the...

10. Whether ITAT is legally correct in holding that each item below Rs.5000/- is a self unit and, therefore, the depreciation @ 100% is allowable in place of 25%, ignoring...

11. Assessment u/s 153C - Undisclosed investment u/s 69 r.w.s 115BBE - Whether incriminating material belonging to Assessee found during the course of search on the basis of...

12. Computation of LTCG - Based on a reading of Section 50CA of the Act, it is clear that where the actual sale consideration on transfer of unlisted equity shares is less...

13. Revision u/s 263 based on DVO's report received after assessment culmination was invalid as per section 142A(4), DVO failed to provide opportunity of being heard to...

14. Mis-declaration: The department issued a show cause notice alleging mis-declaration of imported goods as "printing paper" instead of "newsprint," based on a...

15. The High Court considered whether the Tribunal could discard an enquiry report for breaching the timeline under Regulation 20 (5) of the Customs Broker Licensing...