Home Highlights February 2014 Year 2014 This

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1. Levy of purchase tax payable - purchase of turmeric - Section 12 (2) of the Tamil Nadu Value Added Tax, 2006 - There was a paradigms shift from TNGST Act, 1959 when...

2. Legal Services / Services of an Advocate - Recovery of Service Tax alongwith interest and penalty - The High Court observed that, as set out in the Notification, the...

3. Sales tax set off as deduction u/s 43B - whether the set off or adjustment amounts to deemed payment? - When the assessee purchases raw materials, it is liable to pay...

4. Addition u/s.40A(3) - Purchases made in Cash - assessee has purchased gold and silver through staff at villages, on Sunday/bank holidays, exchange value of old gold and...

5. Levy of GST - Valuation - determination of margin - old and used motor vehicles - claim of deduction of cost incurred on refurbishment from the margin - It is noticed...

6. Revision u/s 263 by CIT - cash payment made for purchase of old gold jewellery - Actually the assessee has not made any purchases in cash in alleged transactions and...

7. Constitutional validity of levy of basic excise duty and NCCD, after coming into force of the Constitution (101st Amendment) Act, with effect from 01.07.2017 -...

8. Business auxiliary service - Exchange of old cars for new cars - it becomes totally a transaction of purchase and sale of old vehicles - AT

9. Availment and setting off of Input tax credit (ITC) - purchases of demo vehicles - car dealer - The demo vehicles are purchased all along for further supply with the...

10. The ITAT Hyderabad held that the addition of bogus purchases based on information from the Investigation Wing was not justified. The burden of proof shifted to the AO...

11. Demand of service tax on the interest earned from hire purchase finance transactions. - The Tribunal observes that the ownership of the goods remains with the customers,...

12. Set off of current year business loss against foreign dividend income - levy of tax u/s 115BBD on gross foreign dividend income - assessee would be entitled for set off...

13. Levy of penalty u/s 10-A read with Section 10(b) of CST Act - The learned Appellate Tribunal was justified in holding that the Assessee was entitled to purchase the said...

14. Levy of penalty u/s 10-A read with Section 10(b) of CST Act - Assessee was entitled to purchase the said fuel viz., diesel, for its generator set and even though the...

15. Levy of Entertainment tax on the 'costume' - Renting of costume - It is well settled that the tax can be levied only when specially provided for and not by intendment....