Home Highlights August 2012 Year 2012 This

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1. Proposed amendment enables recovery of existing liabilities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from seized assets...

2. The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

3. Right to Information (RTI) relating to assessee relating to income tax - supremacy of RTI or IT Act - as contented any information relating to any assessee relating to...

4. Doctrine of constitutional priority - Supremecy of attachment passed by the Tax Recovery Officer / Income Tax Department or to the mortgage created in favour of the...

5. U/s 199 of Income Tax Act 1961 - Recovery Of Demand Against Deductee Assessee - Circular

6. Recovery proceedings - attachment orders - The machinery prescribed under the provisions of the Income Tax Act, 1961 to deal with situation arising out of wrongful...

7. Tax recovery proceedings - Right over property mortgaged - It has come to the knowledge of the Tax Recovery Officer that the defaulter has mortgaged the subject property...

8. The provisions of the IBC 2016 would prevail over the Income Tax Act 1961. Income Tax authorities have limited jurisdiction to assess/determine the quantum of Income Tax...

9. Recovery of service tax - Recovery before adjudication of upon the matter and fixed the quantum of service tax - the recovery which is being made that smacks with...

10. This case deals with the disallowance of expenditure u/s 14A of the Income Tax Act, which pertains to expenditure incurred in relation to exempt income. The key points...

11. Rectification proceedings u/s. 154 - Unexplained investment addition u/s 69 - The case involved the treatment of surrendered undisclosed income under the head of...

12. Stay of demand - payment of 20% of the outstanding demand - ITAT rejecting its application for stay on the recovery of demand during the pendency of appeal - The Delhi...

13. The assessee had been following the mercantile system of accounting, wherein book profits are taken for tax assessment, though credit or debit amounts may not be...

14. The assessee, a shipping company under the Tonnage Tax Scheme, had declared certain incomes like sundry credit balances written back, excess provisions written back,...

15. Central Government, creation of the State Benches of the Goods and Services Tax Appellate Tribunal (GSTAT)