Home Highlights July 2013 Year 2013 This

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1. Penalty u/s 114 - In the case of loading of container on the vessel and sailing of vessel without obtaining 'Let Export Order', the shipping line alone can be...

2. Valuation of goods - old and used self-propelled platform supply vessel Sagar Fortune - The justification offered for invoking rule 12 of Customs Valuation...

3. Penalty - Bogus invoice issued without selling the goods – penalty would be attracted under Rule 25 (1) (d) as well as Rule 26(1) of the Central Excise Rules, 2002 - AT

4. Income from house property - deduction (Vacancy allowance) - Notably the words used in section 23(1)(c) of the Act are “the property is let and was vacant during the...

5. Income from House property - Vacancy can only follow a state of actual letting, envisaged u/ss. 23(1)(b)/(c). Reduction due to vacancy u/s. 23(1)(c) would accordingly...

6. Charge to income tax in respect of a house property - deemed income - The words “where the property is let” in sections 23(1)(b) and 23(1)(c), thus, represents a state...

7. Disallowance of proportionate interest u/s. 36(1)((iii) - loan taken for construction of building for the year under consideration on which the assets were not put to...

8. Constitutional Validity of amendment to the Industrial Policy Resolution 2007 (IPR 2007) - Opposite Parties do not deny that Petitioner No.1 fulfils the triple test...

9. DTAA with Slovenia - Exchange of information - Article 26 as amended w.e.f. 1.3.2017

10. Exemption from payment of GST compensation cess to SEZ unit - A conjunctive study of Section 26(1)(a), 2(zd) of SEZ Act, 2005 and Section 2(15) of Customs Act, 1962...

11. Levy of penalty u/r 26(1) for abatement - it is clear that all the appellants were indulged in abating the manufacturer for fraudulent availment of Cenvat credit...

12. The term “vessel” includes any ship, boat, sailing vessel or other description of vessel used in navigation. Motor tanker would be covered in the definition of vessel -...

13. Imposition of penalty - Issue of bogus invoices - Penalty under Rule 26, whether under sub-Rule (1) of Rule 26 or under sub-Rule (2) of Rule 26 can be imposed on a...

14. Levy of compounding fee - Though the petitioner appears to have obtained VAT registration for its head office, it had not obtained separate registration for the site...

15. Taxability of receipts on hire of vessel on a time charter basis - Royalty receipts u/s 9(1)(vi) - Addition on the ground that Charter has option of making structural...