Home Highlights November 2018 Year 2018 This

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1. Long-term capital gains - receipts by the assessee as per the consent decree passed by the Hon”ble Bombay High Court - suit for specific performance of the Agreement to...

2. Whether the Hon'ble Tribunal has jurisdiction to put a condition of depositing an amount while remanding the issue back to the Commissioner - Held Yes, tribunal has...

3. The High Court or Sessions Court should be reluctant to grant an interim stay on the operation of an order granting bail pending disposal of the cancellation application...

4. Grant of registration u/s 12AA - non-disposal of application within a period of six months amounts to deemed grant of registration on the expiry period of six months...

5. Assessment u/s 153A - validity of granting the approval u/s 153D - The action of the JCIT granting approval in this case was a mere mechanical exercise, accepting the...

6. Grant of interest on the amount which was sanctioned as refund - Power of tribunal to grant interest - Refund of amount includes amount deposited with the Registrar of...

7. Sale of shares - business income OR capital gains - The tests of badges of trade evolved by Royal Commission of England and approved by the Hon‟ble Supreme Court...

8. Valuation of goods - Job work - the appellant is applying the sale value of the principal and it is not under dispute that the said value is lower than the value...

9. Prior period expenditure - when prior period income is taxed prior period expenditure cannot be disallowed - AT

10. TP Adjustment - Notional interest on overdue receivables - number of days outstanding beyond the grace period for each and every invoice. - If there are no agreements...

11. Seeking direction to 1st Respondent to admit the claim - The excess amount claimed by the Applicant has already been received by them from the Corporate Debtor and this...

12. Seeking sufficient time for payment of amount demanded by the respondent towards interest - This Court feels that the time period of 2 days is not sufficient to make the...

13. Refund of Service Tax amount - Period of limitation - advance amount returned/ refunded to the buyer - Once the buyer cancelled the booking and the consideration for...

14. Extended period of limitation - Undervaluation of goods - non-inclusion of the VAT amount - In view of the fact that, CBEC (Board) has accepted the decision of High...

15. Exemption u/s 11 denied - grants received by the assessee - Such grants were not the donations or voluntary contribution u/s 12 - The grants received by the assessee for...