Home Highlights May 2011 Year 2011 This

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1. Exemption from GST - supply of, services viz. execution of the civil works of Pazhassi small hydro electric project - The Kerala State Electricity Board Ltd falls under...

2. Addition u/s 14A r.w.r. 8D - Addition under special provision u/s 115JB - Minimum Alternate Tax (MAT) - the case revolved around the disallowance made under Section 14A...

3. MAT applicability - Provisions of sec.115JB are not applicable to the banking company - AT

4. Levy of duty on inter-State sale of electricity - competence of the State legislature - The IGST Act which aims to levy tax on supply of goods which is in course of...

5. Book adjustments u/s 115JB - Insurance company - Minimum alternate tax (MAT) - these companies cannot be treated differently for the purpose of sec. 115JB - provisions...

6. MAT computation u/s 115JB - Disallowing exclusion of Excise Duty Exemption as capital receipt availed during the year under consideration in computing book profit as per...

7. MAT credit on the difference between gross tax liability as per normal provisions and MAT provisions as claimed by assessee in ITR instead of base tax as per normal...

8. MAT - Addition regarding wealth tax liability under the provisions of section 115JB treating the provision for wealth tax as unascertained liability - wealth tax...

9. TDS u/s. 194C - payments made to State Electricity Boards/State Government Corporations for necessary infrastructure – assessee was not liable to deduct TDS - AT

10. MAT - Deduction for provision of bad and doubtful debts while computing book profits u/s.115JB - There is absolutely no quarrel that the case does not fall under Clause...

11. Conduct of lotteries - Power of Host State to make rules under section 12 of the Act to monitor the conduct of lotteries of Organising States within the territory of the...

12. State Electricity Board cannot be considered to be a Government or its Department and mere ownership of 100 % capital by State Government will not make the Electricity...

13. Power of State Government to levy tax on Lotteries - the scope and ambit of lotteries organised by Government of India or Government of State under Entry 40 of List I is...

14. Income tax proceedings against assessee - whether appellant is not a "state" under Article 289 of the Constitution of India and therefore, liable to tax under the Income...

15. Computation of MAT tax liability - the tax liability arising under normal provisions of the Act and u/s 115JB of the Act should be compared before allowing rebate u/s 88E - AT