Home Highlights April 2017 Year 2017 This

You may also like:

1. Validity of adjudication order - The original adjudicating authority i.e. Deputy Commissioner of Customs in terms of section 122 of Customs Act, 1962, has the pecuniary...

2. Cash transactions proposed to be capped at ₹ 2 lakh

3. Valuation of imported goods - inclusion of royalty and the cost of advertisement incurred by the Appellant in India in assessable value - related party - The Tribunal...

4. Levy of penalty in case of professional or other misconduct - minimum penalty reduced from ₹ 10 lakh rupees to 5 lakh rupees - Section 132(4) of the Companies Act, 2013

5. Income from share transactions - the assessee had indulged in a dubious share transaction meant to account for the undisclosed income in the garb of long term capital...

6. No need to file return where salary is not exceeding ₹ 5 Lakhs or Saving Bank Interest is not exceeding ₹ 10K, subject to certain conditions

7. Excise – sale through related parties, valuation provisions applicable – tribunal order reversed by SC

8. CIRP - discrimination of Related Party Financial or Operational Creditor - IBC treats related parties as a separate category for specified purposes, excluding from the...

9. TDS u/s 194C - Addition u/s 201/201(1A) - TDS not deducted from the payments made to contractors under various schemes - The proviso clearly states that nothing...

10. Interpretation of the term “a contract” - TDS applicability under section 51 of the GST Act - no contract or contract of continuous supply - In the first scenario, since...

11. Addition of amount shown as “Share Premium” as ‘Income from other sources' - genuineness of the said transaction of purchase of 5 lakh shares of the assessee company @...

12. Presumptive income - enhancement of threshold limits - U/s 44AD if 95% of gross receipts and payments through no-cash mode than limit of presumptive taxation increased...

13. 100% penalty on cash transaction over ₹ 2 lakh (originally it was proposed as 3 lakh) from April 1, 2017 - Loksabha Passed the Finance Bill, 2017 today i.e. 22-3-2017

14. Validity of decision of IRP/RP holding that the claimant/ Applicant is a Financial Creditor but is not eligible to be a part of CoC - related party in terms of Section...

15. Transaction value - Valuation (Customs) - Special or abnormal discount to the related buyers which were in excess of 3% discount - The Appellate Tribunal observed that...