Home Highlights January 2017 Year 2017 This

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1. Providing Services to SEZ unit - Benefit of exemption - The appellant couldn't submit Form A1 due to unavailability to SEZ units but submitted Form A2. The revenue...

2. Depreciation - Disallowance of amount released from reserves account under normal computation of income - The net result of the accounting entries passed in the books of...

3. Claim of rebate/refund - export of goods from DTA unit to SEZ units - initially applicant cleared excisable goods without payment of duty under UT-I Bond to the SEZ Unit...

4. Reversal of CENVAT Credit - Exemption to SEZ Units - The Tribunal analyzed relevant legal provisions and found no restriction prohibiting the SEZ Unit from utilizing...

5. Claim of Refund and Interest on Refund - Unjust enrichment - amount claimed as refund was not charged to the profit and loss account but retained in 'receivables'...

6. SEZ Units, Exemption and Refund of servcie tax, CBEC clarifies various issues

7. The guidelines outline operational framework for Free Trade and Warehousing Zones (FTWZ) and warehousing units in Special Economic Zones (SEZ). Key points include strict...

8. Refund of service tax - Appellant has one unit in SEZ and on in DTA - There is no dispute that the appellant’s service provider is located in Kolkata which is a DTA unit...

9. Protective addition on account of unexplained credit entries appearing in the bank account - assessee company is a conduit - addition on account of unaccounted...

10. Addition u/s 68 - accommodation entry - issue of shares for consideration other than 'cash' - "Adjustment by way of book entry" can only be in the case where there is...

11. Deduction u/s 10AA - SEZ Unit - violation under SEZ Act, 2005 - Non submission of accounting invoices to STPI/SEZ authorities, Non approval of units by SEZ authority -...

12. Exemption to SEZ unit - authorised operations in a SEZ - Validity of conditions imposed - Board of approval refused to issue of Forms A1 and A2 on the ground that these...

13. Addition made u/s 153A on account of undisclosed foreign bank account and interest income thereon - assessee confronted with client profiles from HSBC Bank showing...

14. Addition u/s 68 - Addition on the basis of income shown in Form No. 26AS - Mercantile system of accounting - There can be overflow of income of one preceding previous...

15. Special audit u/s 142(2A) - satisfaction - The question of complexity of accounts has to be judged applying the yardstick or test; whether the accounts would be complex...