Home Highlights January 2015 Year 2015 This

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1. Capital Gains - Whether land belonged to the ''HUF'' and not to the assessee? - there was no mentioned that the land was being sold by the assessee as Karta of 'HUF' -...

2. Depreciation u/s 32 - scope of the term "Plant" - bottles and crates appellant-assessee uses in the course of carrying out its business can be treated as plant within...

3. Bottling of gas into gas cylinders, which requires a very specialized process and an independent plant and machinery, amount to production of ‘gas cylinders’ - deduction...

4. Valuation - sale price of the soft drinks - Merely because the soft drinks and bottles cannot be separated till they reach the end-customer, in the absence of sale of...

5. Assessment of trust - cancelling registration of the Appellant u/s 12AA - Admittedly, Appellant-Trust has deposited the sale proceeds in fixed deposit with the Bank for...

6. Eligibility to exemption u/s.54F - Although the failure of the assessee to deposit the sale proceeds in a Capital Gains Account Scheme, 1988 for intervening period was...

7. Sale of gas cylinders to be included in the turnover or not - business of supply of gas cylinders to the consumers - sale of gas cylinders was liable to be included on...

8. Bogus sale proceeds as undisclosed income - addition u/s 68 - all these transactions were through banking channels only and in that process assessee has suffered loss. -...

9. Long Term Capital Gains - Sale of society flat - proportionate portion of land in the society - As per the sale deed, it is clear that assessee gets a membership on the...

10. CENVAT Credit on PVC crates used for transporting aerated water in bottles - circumstances the PVC crates being used as inputs/capital goods in the manufacture of...

11. Notification U/s 80IB(4) - the process of bottling the LPG Gas into cylinder makes the same marketable - It therefore follows that a new product comes into existence -...

12. Refund of accumulated input tax credit - inverted duty (tax) structure - LPG supplies to domestic customers after bottling in cylinders - The High Court observed that,...

13. Classification of imported goods - plastic trigger sprayer for plastic bottles lotion pump for plastic bottle and fine mist sprayer for plastic bottles - What were...

14. Adjust of sale proceeds of goods auctioned - Seized goods could not be cleared due to financial difficulty - Appeal were pending - The respondent/revenue, having sold...

15. C&F Agents Services - activities of receipt of the goods, storage of same, sale from depot, preparation of invoices, maintenance of records collection of the sale...