Home Highlights January 2014 Year 2014 This

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1. CENVAT Credit - valid duty paying documents or not - Transfer Memos - Endorsed Bill of Entry - It is to be noted that the bill of entry is one of the approved documents...

2. Liability to pay tax on long term capital gains - cancellation document - since the cancellation document as is alleged is the title document in favour of the assessee,...

3. Assessment passed u/s.153A - Presumption in case of seized documents - Assessee’s son was also covered under the search in the same premises and the document found from...

4. Agricultural income - When all the documents have been brought on record by the assessee during assessment proceedings but not examined by the AO assessee cannot put...

5. Legal presumption u/s. 132(4A) &s.292C - whether cannot be given restrictive interpretation so as to consider applicable only to the searched person and not to other...

6. Reopening of assessment u/s 147 - Non production of agreement before the AO - It is nobody’s case that there existed any such agreement, which ought to have been...

7. Exemption from duty of customs - import of Lithium Ion Cell (Captive Consumption - For LED) - Emergency LED Light is fundamentally a type of LED light, albeit a...

8. Registration of the Trust u/s 12AA denied - Rule 17(A)(a) show that when the trust is not created under an instrument it is impossible to produce any constitutive...

9. Scope of SCN - Presumption with regards to documents seized - In view of Section 36A of Central Excise Act, 1944 it is only when such document is tendered in evidence...

10. CENVAT Credit - duty paying invoices (document) - cenvat credit availed on the strength of railway receit - Rule 9 is subservient to Rule 3 for determining the...

11. Protective addition on account of unexplained credit entries appearing in the bank account - assessee company is a conduit - addition on account of unaccounted...

12. Validity of assessment u/s 153A - ‘Document’ was seized during the course of the search proceedings from the premises of Cosmos group, therefore, as per Sec. 132(4A)(i)...

13. Dishonor of Cheque - presumption of innocence - On bare perusal of provisions of Sections 91 and 311 of CrPC, it apparent that non-affixing of seal over the documents is...

14. Additions towards Undisclosed profit made on the basis of the seized documents - ITAT deleted the additions - Now, look at the reasons given by the tribunal. It cast a...

15. Unexplained expenditure u/s. 69C - Assessment u/s 153A post search - The High Court observed that the documents found and seized from the assessee’s premises were...