Home Highlights September 2012 Year 2012 This

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1. Question of law or facts - on the facts and circumstances of the instant case, as the plea of limitation turns on facts and as it is clearly not a pristine question of...

2. Tribunal not deciding the matter itself and remanding it to the Assessing Officer - it is noticed that the approach of the Tribunal is to abdicate its duty of deciding...

3. Rejection of books of accounts - Estimation of income - The case laws relied upon by the ld. AR are not applicable as per facts of the present case, therefore,...

4. Accrual of income - recognition of revenue - change in method of accounting policy from recognition of Commission for insurance agency business from month of...

5. Accrual of interest expenditure / income - CIT(A) deleted the disallowance u/s 36(1)(iii) - Where there is no certainty of collection, revenue cannot be said to be...

6. Accrual of income - assessee was declaring LPS on outstanding credit receivables on accrual basis - hybrid system of accounting - the assessee has followed the...

7. Depreciation - Disallowance of amount released from reserves account under normal computation of income - The net result of the accounting entries passed in the books of...

8. Accrual of income - Revenue recognition - real or hypothetical income - The assessee did not raise any demand on account of wheeling charges and since, there was...

9. Rejection of books of account - Correct method of accounting - following cash system of accounting instead of accrual method of accounting - He has not cared to discuss...

10. Legal status of the assessee as a State or an agent of the State, based on Article 289 of the Constitution of India. It analyzes whether the assessee's activities are...

11. Estimation of income - Since the addition made by the AO on account of trading income based on net profit rate applied by the AO has been deleted and the income declared...

12. Constitutional power of the Central Government over State - The imposition of a Net Borrowing Ceiling on the state - The inclusion of State-Owned Enterprises in the...

13. Accrual of income - addition on account of accrued interest on NPA account as income - the assessee had adequately established that the interest received during the year...

14. Condonation of delay - delay of 345 days in filing the appeal before CIT(A) - Each case for condonation is to be decided on its own facts and merits. The facts may...

15. Accrual of income - determination of income out of the receipt not disclosed in the books of account - when the receipts were out of the books of accounts, the payment...