Home Highlights June 2012 Year 2012 This

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1. Deduction u/s 54 - LTCG invested in buying two residential units - the assessee would only entitle to the benefit of section 54, 1) if the assessee invested the LTCG...

2. Scope of arbitral award - The principle of interpretation of contracts adopted by the Division Bench of the High Court that when two constructions are possible, then...

3. Works Contract or not - supplies of goods or services for 'selling up of network' - composite supply/principal supply - two ruling of the AAR - first one was accepted...

4. Revision u/s 263 - The principal of the law emanating that when two views are legally possible and AO adopts one view the Assessment Order cannot be said to be erroneous...

5. Revision u/s 263 by CIT - if the AO has adopted one of the two or more courses permissible in law and it has resulted in loss of revenue, or where two views are possible...

6. The High Court held that the capital grant subsidy or viability gap funding provided by the National Highways Authority of India (NHAI) to its Concessionaires for...

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

8. When one of senior officer of the department is dropping the demand by adopting a particular interpretation of provision of law, the assessee cannot be held guilty of...

9. Exemption u/s.11 - salary paid to the trustees - undue benefit - Basis adopted by the Revenue authorities for quantifying the undue benefit given to the aforesaid...

10. There are two regimes for trusts, funds, or institutions to claim exemption. The first regime is under sub-clauses (iv), (v), (vi), or (via) of clause (23C) of section...

11. Applicability of precedent judgements - Refund of SAD - rejection on the ground of time limitation - Doctrine of precedence only mandates that it is the ratio in the...

12. Revision u/s 263 by CIT - Total power subsidy and TUF subsidy were wrongly declared by the assessee - When AO adopted one of the courses permissible in law and it has...

13. 'Work' under Section 194C - TDS on work contract - In a case where three separate agreements entered into and one such agreement is agreement for supply of material and...

14. The assessee's claim for deduction u/s 80IA(4) was denied on the grounds that the assessee is not a developer of any infrastructure project but a simple works contractor...

15. An assessee who is working under the Central Excise, is expected to be knowledge of the basic fact that one product cannot be held to be falling under two different...