Home Highlights December 2012 Year 2012 This

You may also like:

1. In the case, ITAT decided on two main issues: 1. Addition on account of Gold and Silver Jewellery u/s 69A: Assessee disclosed Rs. 70,00,000 as unexplained investment...

2. Addition u/s 69A - unexplained income - cash deposits made into bank account during demonetization period - assessee neither furnished stock summary nor bills/vouchers...

3. Contravention of Sections 8(1) and 9(1)(f)(i) of the Foreign Exchange Regulation Act, 1973 - receiving foreign exchange payments in 1996-97 through fake export documents...

4. Deduction u/s 80P(2)(a) (i) - the credits given to such members being for purposes other than agricultural credit - once section 80P(4) is out of harm’s way, all the...

5. Cash transactions proposed to be capped at ₹ 2 lakh

6. GST Transition - the credit transfer document under rule 15(2) of CCR, 2017 - Notification

7. Levy of penalty - taking CENVAT Credit irregularly - it is the contention of the Assessee that there is some element of discretion available in the adjudicating officer...

8. Unsecured loans treated as unexplained cash credits u/s 68. Interest paid on such unexplained loans also added to income. Assessee's contention of repayment of loans...

9. Rejection of declared transaction value under Valuation Rule 12, re-determination of value under Valuation Rules 4-9. Commissioner followed Rule 9, adopted actual values...

10. Exemption u/s 11 - AO by invoking proviso to Section 2(15) and denying the exemption - Receipts from business activities exceeded the threshold of Rs. 10 lakhs and Rs....

11. Imposition of penalty u/r 15(2) of CCR, 2004 - CENVAT Credit - No evidence of fraud, collusion, wilful misstatement, suppression of facts which are essential conditions...

12. Assessee, a partner in Daurau Farms LLP engaged in sale of farm fresh milk, paid Rs. 30 lakhs in three installments of Rs. 10 lakhs each to Mr. Deepak for purchasing...

13. Exemption u/s 11 - Denial of exemption disputing the charitable nature of activities carried out by the assessee in terms of section 2(15) - the assessee-authority is...

14. Levy of penalty u/ss 271D and 271E was challenged - default u/ss 269SS and 269T - assessee received and repaid cash loans from directors and related concerns - assessee...

15. Levy of penalty u/s 271D - assessee had received the amounts in cash as loan from HUF - there cannot be any better reason for receipt of cash deposits than the death of...