Home Highlights April 2017 Year 2017 This

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1. Interpretation of statute - Levy of VAT - credit note received subsequent to the date of the invoice - Determination of Turnover - Input Tax Credit - Large Bench...

2. Levy of purchase tax payable - purchase of turmeric - Section 12 (2) of the Tamil Nadu Value Added Tax, 2006 - There was a paradigms shift from TNGST Act, 1959 when...

3. Valuation - To remove the anomaly, a level play mechanism has been adopted to levy tax on the inter-state purchases or the goods purchased from outside the territory of...

4. Imposition of penalty u/s 271(1)(c) of the Income Tax Act for two types of additions: (1) the addition made u/s 50C on the difference between stamp duty value and sale...

5. The High Court addressed the issue of liability to pay excess tax collection to the Government when the respondent's tax liability is higher than the tax collected. The...

6. Addition u/s 43CA - difference in the value of sale consideration of the of property as shown by the assessee and value adopted by the Sub-Registrar for stamp duty...

7. Valuation by DVO - addition based on estimated cost disregarding actual cost as per books - applicability of section 142A before amendment - non-rejection of books - AO...

8. Valuation - inclusion of advertisement and publicity expenses incurred by the dealers as per the terms and conditions of the dealership agreement mutually agreed between...

9. Adjustment of tax liability – Out of input tax credit available – dealer can adjust current year tax liability out of Input Tax Credit available in credit of dealer -...

10. Levy of property tax - warehouse - property tax on the value of storage and water tanks of the IOC situated in the industrial development area of Cuddapah (A.P.) - The...

11. Difference between Fee and Tax - water and sewerage taxes levied and collected - legislative competence of State Legislature to levy the tax under the provisions of...

12. Addition u/s 68 cannot be made solely based on sworn statement recorded u/s 132(4) without corroborative materials. Onus lies on the Department to collect cogent...

13. Value addition - Duty-free import of gold - Replenishment of gold under the ‘replenishment scheme’ from DIL against export of gold jewellery - The tribunal concluded...

14. Input Tax Credit (denied retrospectively) - denial on account of cancellation of the VAT registration of the dealers (who have effected sale of the goods to these...

15. Valuation - sale of petroleum products through dealers - the appellant had discharged more excise duty on the clearances to and from COCO outlet, wherein the assessable...