Home Highlights August 2014 Year 2014 This

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1. Activity amounting to manufacture or not - fixing of a lens in a spectacle frame - Post manufacture of the spectacle frames and lenses, the goods are sent separately to...

2. Area Based exemption - slump sale agreement - In essence, the slump sale agreement and the MOU are but a method employed to claim the benefit of the exemption...

3. Packing materials of the glass bottles - the appellant was manufacturing / producing “Spun Line Crown Cork” used for sealing the glass bottles. With the use of modern...

4. Disallowing the exemption claimed u/s 54/54F - sale of the bungalow as well as the land - assuming the assessee has claimed deduction under section 54F of the Act, then...

5. 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

6. Refund of SAD - Goods are liable for sales tax but only under certain conditions the Appellant-assessee can sell the goods without payment of sales tax. An exemption...

7. Taxability of capital gain arising on sale of shares under the treaty provisions - AO and DRP have rejected assessee’s claim by holding that assessee being a mere paper...

8. Deduction u/s 10AA - exclusion from export turnover on account of sales to other SEZ/EOU units - it is an undisputed fact that the sale consideration is released in...

9. CENVAT credit - sales commission - there need not be manufacture unless there is sale of product. Hence, the commission paid on sales becomes part of sales promotion...

10. Wealth tax assessment - the assessee cannot avail exemption for a plot of land, even if it is having an area of less than 500 sq. mts or less, if he had already claimed...

11. Exemption u/s 54EC - LTCG - applicability of deeming fiction application u/s 50C - the sale consideration deemed to have been received by the Assessee may be much higher...

12. Sale tax paid on sales return - allegation of bogus sales - allowable business loss - When the factum of sales return has been proved in favour of the assessee and...

13. Classification of goods - tinted glass sheets - There is no vagueness in the notification dated 07.09.1981 and the entry No. 4 is clear and unambiguous namely it has...

14. Denial of claim for concessional rate of tax and claim for sales returns - no C Forms to support the claim for concessional rate of tax - sales return had not been made...

15. Input Tax Credit - credit was not effected in Form GSTR-2A - If on examination of the evidence submitted by the assessee, the assessing officer is satisfied that the...