Home Highlights July 2012 Year 2012 This

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1. The assessee provided project advisory services to Special Purpose Vehicles (SPVs) formed to execute infrastructure contracts obtained from NHAI. The assessee contended...

2. Denial of deduction u/s 54F - allegation of investment in more than one house by assessee - The conclusion of Ld. AO overlooks the fact that the multi-storied building...

3. The Income Tax Appellate Tribunal considered whether an assessee can claim deduction under Chapter VI-A of the Income Tax Act, 1961 for the first time in the return...

4. Revision u/s 263 by CIT - The subject matter of the deduction in the reassessment order was the quantum of deduction but not the eligibility of the deduction and even in...

5. Levy of penalty u/s 129(5) of GST Act for discrepancy between PIN code of petitioner in Tax Invoices and E-Way Bill. Court held minor discrepancy in PIN code in GST...

6. 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...

7. Short computation of TCS - Period of limitation for submission of Form 27C - the claim of the ld. Counsel for the assessee that there is no time limit prescribed for...

8. Interpretation of the term “a contract” - TDS applicability under section 51 of the GST Act - no contract or contract of continuous supply - In the first scenario, since...

9. Assessee voluntarily declared income under "income from other sources" in return. AO disallowed deduction claimed for coordination and settlement expenses due to lack of...

10. The assessee claimed weighted deduction u/s 35(1)(ii) for donation made to M/s Shri Arvindo Institute of Applied Scientific Research Trust at the end of the year. The...

11. Disallowance of deduction claimed u/s 10AA after claiming deduction / exemption u/s 10A - SEZ unit - As on the commencement of assessment year 2006-07, which is the...

12. Section 80CCC(2) applies only when the assessee has claimed and been allowed a deduction u/s 80CCC(1). Since the assessee did not claim deduction u/s 80CCC(1), Section...

13. TDS u/s 194C OR 194J - Short deduction of tds - payment of Special Services - The assessee is facing genuine hardship as on the one hand it is bound to maintain complete...

14. Deduction u/s 80IC - Since in the present case the fact that the assessee had undertaken substantial expansion is not disputed, the assessee, we hold, is entitled to...

15. Time of supply for continuous supply of goods under the CGST Act. Section 12(2) provides for fixing the time of supply as either the date of invoice or the date of...