Home Highlights April 2015 Year 2015 This

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1. Valuation of imported goods - Higher values available on contemporaneous imports NIDB/DGOV data on similar good - The valuation of similar goods depends on factors such...

2. Valuation for the purpose of Wealth tax - WDV of cars was held as basis of market value in the absence of any material produced by the Revenue to show that WDV didn’t...

3. Wealth Tax Liability - Whether Club can be treated as "Association of Person"? - Charging provisions under the Income Tax versus under the Wealth Tax - This argument of...

4. LTCG - fair market value as on 1.4.1981 - The reasonable approach would have been to adopt the valuation in the Wealth Tax Assessment, since the Tribunal holds that the...

5. Valuation - import of desiccated coconut from Sri Lanka - transaction value - appellant could not produce any material evidences to support the declared value -...

6. Valuation of excisable goods - genuine factory gate price - No documents have been produced before us by the Revenue to substantiate their claim that goods were not sold...

7. Valuation of export goods - Iron Ore Fines - transaction value - FOB price - Export duty - The appellant contested this, arguing that unless the Revenue disputes the...

8. Valuation of imported goods - rejection of declared value - enhancement of value - The CESTAT held that since the appellant had voluntarily waived the right to a show...

9. Adoption of value of the properties declared by the assessee as per Govt. ready reckoner by rejecting the valuation given by the Approved Valuer for the Wealth Tax allowed - AT

10. Determination of value u/s 50C - Validity of order of CIT(A) directing the AO to recalculate the capital gain on sale of land taking total value of property of Rs. 6.05...

11. Valuation - Works contract or not - exclusion of value of material on which VAT has been paid - Commissioner (Appeals) has dropped the demand holding that the activity...

12. Valuation of property - Enhancement in valuation - Land converted from small scale industrial use to 20% residential use - still being used for business - not taxable...

13. Wealth tax - Valuation - The market rates referred to by the assessee with regard to other properties which are almost at the rates fixed by the Revenue Authorities...

14. Wealth-tax - any property in the nature of commercial establishments or complexes is excluded from the definition of assets liable for wealth tax - AT

15. Excess premium charged on issue of shares u/s.56(2)(viib) - The value adopted by the Assessing Officer under net asset value method even though a prescribed method does...