Home Highlights July 2012 Year 2012 This

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1. Refund of excise duty paid - denial on the ground of time limitation - The Commissioner (Appeals) has wrongly invoked the provision of Clause (ec) for denying the refund...

2. Dishonor of Cheque - Insufficient Funds - Since, the drawer of the cheque was the accused Company, solely on the ground that the respondent had signed the cheque, a...

3. Territorial jurisdiction - the place where the cause of action having arisen - since the agreement was executed at Faridabad, part of the cause of action would arise at...

4. Taxation on gains arising out of compulsory acquisitions - Admission of Additional Grounds - the Appellate Tribunal analyzed the legislative timeline and relevant...

5. Additional grounds - Tribunal has power to permit assessee to raise new ground of appeal, not set forth in memorandum of appeal, even without formal amendment of grounds...

6. Bogus LTCG - capital gains arising on sale of shares - We see potency in the plea of the assessee that such capital gains arising on sale of shares cannot be regarded as...

7. Confiscation - Redemption fine - Since in the instant case, the appellant/ revenue has accepted the setting aside order of confiscation of goods, question of applying...

8. Addition on the ground of balance appearing in HSBC Bank Account, Geneva undisclosed - Nothing has been brought on record in “reasons recorded” or there is any material...

9. Income deemed to accrue or arise in India - fee for grant of software license cannot be taxed in India. Since we have held that the subject transaction of receipt of...

10. Liability to pay customs duty when confiscated goods are redeemed after payment of fine u/s 125 of the Customs Act, 1962 includes liability to pay interest on delayed...

11. Income accrues or arises or deemed to accrue or arise in India - Unexplained foreign income - residential status of the assessee - The Tribunal upheld the CIT(A)'s...

12. Income Accrue or arise in India - FTS - the ultimate delivery of the software was outside India - Since there is no dispute that the services were rendered outside India...

13. Recovery of demand - initiation of Garnishee proceedings - The assessment order and the demand does not remain merely a piece of paper, unless an assessee gets relief by...

14. Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

15. Income accrue or arise in India - Revenue from playing of the matches in India - DTAA - Payments made to the Non- Resident Sports Associations in the present case...