Home Highlights May 2013 Year 2013 This

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1. Revision u/s 263 - due and reasonable opportunity of being heard was not afforded to the assessee - nobody should be condemned unheard as per the maxim “Audi Alteram Partem” - AT

2. Principles of natural justice - legality and validity of ex-parte order - There is nothing to indicate as to how this affixing at company premise should be construed as...

3. Violation of principles of natural justice - There is no reason in the Order-in-Appeal for distinct decision given for Noticee No.1 while denying the same opportunity of...

4. Ex-parte order passed by CIT- A - Denial of natural justice - the principle of audi alteram partem is the basic concept of natural justice. The expression "audi alteram...

5. Addition on account of difference in debtors and creditors - AO to grant proper and adequate opportunity as per law, to the assessee to explain the differences in...

6. Condonation of delay – Invalid service of notice – Well settled that party should not be condemned unheard and case should not be rejected on technical grounds, rather...

7. Addition u/s 40A(2)(b) - disallowance of milk transportation charges paid to specified persons - as per the details, the payment to related parties works out to 62 paise...

8. Disallowance on account of 'mark to market loss' on F&O transaction - additions deleted - AT

9. Disallowance - excess consumption of Tendu leaves - AO's addition 1/3rd, was found to be reasonable - HC

10. Permanent Establishment - Car is manufactured by the Audi AG outside India and constitutes a separate and independent activity. As noted earlier the car is sold to VW...

11. Restriction of disallowance - Bogus purchases - Restriction of disallowance @30% of total disallowance – addition of 12.5% net profit on bogus purchase is reasonable - AT

12. Assessment u/s 153A - Addition based on the valuation report - completed assessment - nature of material found in the course of search which led to impugned additions -...

13. Additions towards Bogus purchases - Estimation of profit - Purchases are to be removed, the corresponding sale is also required to be removed from the profit and loss...

14. Disallowance u/s 14A - Disallowing interest expense - Neither the assessee furnished the working of disallowances under section 14A, nor the lower authority made the...

15. Addition u/s 68 - Addition on account of joint venture agreement - the addition made u/s. 68 of the Act only on the basis of two statements which could not stand the...