Home Highlights December 2011 Year 2011 This

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1. Contravention of Sections 8(1) and 9(1)(f)(i) of the Foreign Exchange Regulation Act, 1973 - receiving foreign exchange payments in 1996-97 through fake export documents...

2. Scope of the DTVSV scheme - As under the DTVSV Act, 2020 each appeal, writ petition or SLP is treated as a separate dispute which is evident from Section 2(1)(j) read...

3. The High Court examined the jurisdiction of the Assessing Officer (AO) and the prescribed income-tax authority to issue notices u/s 143(2) of the Income Tax Act. It held...

4. Definitions - Regulation 2 of the FOREIGN EXCHANGE MANAGEMENT (FOREIGN EXCHANGE DERIVATIVE CONTRACTS) REGULATIONS, 2000 as amended

5. Organisation of a political nature as barred from receiving foreign contributions - Support to public causes by resorting to legitimate means of dissent like bandh,...

6. Transfer of case u/s 127 - show cause notice issued is under Section 127 (1) when all applicable provisions are under Section 127 (2) (a) of the Act. Even in the order...

7. The jurisdictional Assessing Officer (AO) had suo moto transferred the assessment to Income Tax Officer (ITO), Ward 2(2) Noida. The appellant contended that the...

8. Double taxation agreement - Agreement with foreign countries or specified territories - Notified 'Specified Territory' - Notification

9. Validity of assessment order - Discrepancy Nos. 1, 2, 10, and 11: The discrepancies include issues such as non-GST supplies, alleged mismatch between GSTR-3B and GSTR-1...

10. Research and Development expenses (R&D Expenses) - Allowability of expenses u/s 35(2) - The expenses are not covered u/s 35(2) - The assessee has not claimed the same...

11. Right of bail under Section 167(2) Cr.P.C - offence u/s 132(1)(b), 132(1)(c), 132(1)(1)(i) of CGST Act, 2017 - The statutory period as provided under Section 167(2) Cr.P....

12. TP Adjustment - associated enterprise or not - it is evident that sub-Sections (1) and (2) of Section 92A of the Act are interlinked and have to be read together. In...

13. Rate of duty of excise increased from 10% to 12% and 1% to 2%

14. Recording of Unique Identity Number of Foreign Diplomatic Missions / UN Organizations on invoices while making supplies

15. The ITAT Ahmedabad ruled on two key issues: 1) Determination of Selling Price of Shares for LTCG Calculation - Held that the AR's contention regarding higher...