Home Highlights January 2017 Year 2017 This

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1. Disallowance u/s 43B on account of outstanding luxury tax liability - assessee has not realized the amount of luxury tax - no addition or disallowance u/s 43B - HC

2. Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid...

3. Levy of service tax - Life Insurance Service - Renting of Immovable Property Service or not - On the taxability of life insurance service, the Tribunal determined that...

4. Levy of Luxury Tax - charitable trust - running a Dharmashala incidental to its main activity of running a hospital - not liable to luxury tax - HC

5. Taxability of Advance Rent received - the assessee received advance rent from the Government Agencies which is not accrued to the assessee and the same has to be taxed...

6. Challenge to the luxury tax is levied on the hospitals - any facility like the air-conditioner and television provided to the patient or his attendant in a private...

7. Taxability of Lease Rent and Capital Replacement Fund - The appellant argued that lease rent was to be transferred to NOIDA authority and not for providing any services...

8. Taxability - Renting of immovable property service - vacant land - the levy of tax on the rental income derived by the appellant from the lessee is beyond the scope of...

9. Levy of service tax - renting of immovable property Service - charitable institution - If the petitioner felt that it was not liable to pay tax for renting of its...

10. Correct head of income - taxability of rental income - the assessee is owner and thereby receives any income from house property, it should be taxed under the head...

11. Taxability of assessee, who falls within section 44BB of the Income Tax act – Appellant assessee himself referred the case prejudicial to it - decided against the assessee - HC

12. Proportionate allowability of lease premium u/s 37 - it is difficult to appreciate that fact of rent being depressed rent can only be appreciated as such if there is...

13. Income Tax: Section 206C(1F) of the Income Tax Act is proposed to be amended to levy Tax Collection at Source (TCS) on sale of any other goods exceeding Rs. 10 lakh, in...

14. The assessee, a trust, claimed to be taxed at the same rate applicable to its beneficiary u/s 115BAA. However, this claim was dismissed as the assessee was not treated...

15. Income from house property - Annual rent - Whether the Income Tax Appellate Tribunal was correct in law in directing the Assessing Officer to determine the property...