Home Highlights February 2015 Year 2015 This

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1. Demand of service tax on the interest earned from hire purchase finance transactions. - The Tribunal observes that the ownership of the goods remains with the customers,...

2. Revenue vs. capital expenditure - hire-purchase v/s agreement of lease - right to purchase to be exercised after expiry of certain period - held as lease transaction /...

3. If an international transaction is proved to be not genuine, the transfer pricing provisions are not triggered - once we have treated hire purchase agreement as not...

4. Validity of transaction entered into by the applicant with the company in liquidation - It cannot be said that the applicant has entered into transaction of purchase of...

5. The hire charges received by the assessee under the hire purchase agreement is an interest on loan and liable to tax under Interest Tax Act, 1974 - HC

6. TDS - with effect from 13/07/2006, payment by the assessee towards hire charges on hire purchase agreement to be liable for TDS u/s 194I of the Act - AT

7. Levy of GST - providing buses on hire (service) - supply of services to BCLL, AICTSL, JCTSL (State Government Co.) - The different tax liability cannot be fastened on...

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

9. Levy of GST - leasing of tank containers taken form a supplier - lessor located outside India and the tank containers do not reach India - Finance lease - The terms of...

10. Addition of circular trading purchases - CIT(A) has discussed in his finding that this was not a case of estimation of net profit on circular purchases but this was a...

11. Seeking grant of Anticipatory Bail - Misuse of PAN number of the Chartered Accountant (CA) for fraudulent transaction and evasion of GST - The investigation from the GST...

12. Preferential, undervalued and fraudulent transactions - Related party transactions - It is amply clear that the Option Agreements I & II are preferential and undervalued...

13. Depreciation - mandation of ownership of such machines in name of the assessee - a hire purchase agreement is one where the hirer has an option to purchase the goods in...

14. The High Court acquitted the accused of the offence u/s 138 of the NI Act due to failure to prove a legally recoverable debt. The complainant's evidence did not align...

15. Exemption from GST - Collection of tax at source u/s 52 - Electronic commerce operator - Exclusion of "Agent" - Exemption under Notification No. 52/2018 - The AAR...