Home Highlights April 2014 Year 2014 This

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1. Recovery of short paid service tax - Construction of Complex Service - adjustment of the excess service tax paid - Service Tax when introduced followed the receipt based...

2. Unexplained money u/s. 69A - “deemed income” - since the amount was not recorded in the books, it did not form the part of the Revenue Receipts of the Assessee. The...

3. Nature of receipt - sales tax remission benefit derived by the assessee - All the judgments cited before us also lay down the same ratio. Even otherwise subsidy is...

4. Nature of receipt - sales tax subsidy - revenue or capital receipt - The ITAT has committed a manifest error law - The receipts have been shown by the...

5. Consulting engineers also allowed to pay service tax on receipt basis, CBEC amends POT Rules, 2011

6. Automatic Reduction/Enhancement upto 10% Duty saved amount and pro rata Reduction / Enhancement in export obligation

7. Profiteering - restaurant service - reduction in rate of GST - every recipient/ customer is entitled to the benefit of the tax rate reduction by way of reduced prices...

8. Evasion of Service Tax - Punishable offence - initiation of criminal proceedings - the power of arrest in Service Tax is available only if a person collects any amount...

9. Tax planning versus Tax evasion - The Assessing Officer cannot disregard a transaction just because it results in a tax advantage to the assessee. Just as much as we...

10. Transaction of sale taking place or not - sale of Furnace - machinery or not - The contract involving receipt of lease rent for leasing of the flameless furnace does not...

11. Bail application - huge amount of tax / GST evasion - Though, matter involves huge amount of tax evasion as mentioned by court below but fixing extraordinary amount in...

12. Payment of Interest for Sales Tax Default - interest paid by the assessee to the sales tax department on arrears of sales tax/purchase tax was an admissible deduction - AT

13. Nature of Receipts - AO directed to treat the Proceeds realized from sale of Certified Emission Reduction (CERs) generated out of Capital Projects registered with UNFCCC...

14. Collection of contingency deposit against payment of sales tax - the receipt of the amount for payment of sales tax and keeping it in deposit would amount to a 'revenue...

15. Prosecution u/s 276C (2) - petitioners had delayed to pay self-assessment tax - The High Court held that delayed payment of income tax does not amount to tax evasion if...