Home Highlights March 2016 Year 2016 This

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1. Addition on account of cash deposit to the bank account of the assessee - assessee is consistently submitting that the assessee has two bank accounts in her name and the...

2. As the subscription collected by the assessee from various cable operators is not the income of the assessee, the same is not shown in Profit & Loss account - The...

3. Refund of taxes TDS - Tax Credit u/s 199 - Defective ROI filled - PAN of a non existing entity (amalgamated) used for filing ROI - when ld AO has assessed income of the...

4. Accrual of income - Revenue recognition - real or hypothetical income - The assessee did not raise any demand on account of wheeling charges and since, there was...

5. TDS Credit u/s 199 - grievances of the assessee is that the entire TDS amount was not duly given credit by the CPC Centre - cash basis of system of accounting followed...

6. Addition on account of difference in TDS receipts - AO directed to re-compute the income of the assessee in accordance with cash system of accounting, which is the...

7. Accrual of income in current AY - duty drawback and service tax refund - the income would be receivable only when the income accrues to the assessee and income would...

8. Agricultural income or not - Since no agricultural income has been shown by assessee’s husband in this year, the entire income has been considered as ‘income from other...

9. Accrual of interest income - Commercial decision was taken by the appellant-assessee not to charge interest from these two borrowers as the assessee wanted to ensure...

10. Characterization of receipts - Treatment of interest income from staff loans and advances, interest income from other loans and advances and miscellaneous income -...

11. Credit for withheld tax - Foreign Tax Credit - Both the parties below have recorded concurrent finding that the assessee company has not made any claim for credit...

12. Stay of demand - payment of 20% of the outstanding demand - ITAT rejecting its application for stay on the recovery of demand during the pendency of appeal - The Delhi...

13. Unaccounted income over and above the regular income registered in the books of account - There is no dispute that assessee was engaged for development of project of...

14. TDS credit treated as income of the assessee - Nature of income - essentially the TDS credit now claimed by the assessee is in the nature of an additional income over...

15. Credit for tax deducted at source for the purposes of section 199 - Rule 37BA of the Income-tax Rules, 1962 - As amended