Home Highlights September 2012 Year 2012 This

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1. The High Court held that u/r 11UA(2) of the Income Tax Rules, 1962, the assessee has the option to choose between the Net Asset Value method or the Discounted Cash Flow...

2. Addition u/s 56(2)(viib) - Method of valuation of shares - closely held company issues its shares at a premium - The tribunal sided with the assessee, affirming the FMV...

3. Addition u/s 56 (2) (viib) - issue of shares that exceeds the face value - Both these methods have different approaches and methodologies therefore there are bound to be...

4. Faceless Assessment - Whether it cannot be gainsaid that one day time given qua SCN is too short - The first point urged i.e., a mere one day time qua SCN under the...

5. Constitutionality and legality of Income Computation and Disclosure Standards (ICDS) II and Notification 87/2016, which mandate the use of the First In First Out (FIFO)...

6. Addition u/s. 56(2)(viib) - differential value of shares - It is the prerogative and privilege of the assessee to adopt one method and once the assessee has chosen...

7. TP Adjustment - ALP is determined by TPO by not applying any method at all or by choosing a method which is not prescribed u/s.92C(1) of the Act, then such a...

8. CENVAT Credit - Rule 6(3) - Service Tax authorities can choose one of the options on behalf of the service provider - the adjudicating authority did not even choose to...

9. TP Adjustment - ALP of International Transactions of import of fixed assets - Even though the Ld. TPO had mentioned that he is following CUP method as the most...

10. Claim of Duty Drawback on supplies from DTA to EOU - eemed export drawback - supplier being claim cenvat credit, the method / route for claiming duty drawback - via...

11. TP Adjustment - selection of most appropriate method (MAM) - Resale Price Method or Transactional Net Margin Method - Introduction of Fresh Comparables - Removal of 3%...

12. TP adjustment - application of the Resale Price Method (RPM) as the Most Appropriate Method (‘MAM’) - trading activity - The decision of Supreme Court in Kedarnath Jute...

13. Addition u/s.56(2)(vii)(b) - share premium - difference between the issue price and the actual share price determined by the AO - AO has changed the method of valuation...

14. Levy of tax on Anonymous donation u/s 115BBC - Section 68 has no application in the instant case because the assessee has disclosed the donation as its income and...

15. Addition of cash donations as ‘Anonymous’ u/s 115BBC - onus to proof - The plea of the appellant that the clerk in the first instance submitted the incorrect list as the...