Home Highlights January 2018 Year 2018 This

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1. Nature of income - Subsidy received under the Industrial Promotion Policy of the Assam Government - the VAT subsidy received by it for undertaking substantial expansion...

2. Disallowance being amount of State Value Added Tax (VAT) paid for earlier years - Deduction u/s 80IB claimed - Assessee became liable to pay VAT for earlier years - The...

3. Disallowance on account of 'mark to market loss' on F&O transaction - additions deleted - AT

4. Addition u/s 68 - non maintenance of books of accounts - There was no actual credit of cash or otherwise received by the assessee. No entries are made in the books of...

5. VAT subsidy - Characterization of receipts - taxability of receipts - The refund now VAT as given to the industrial undertakings only for the purpose of fulfilling the...

6. Source of Cash deposited into the Bank Account - Agricultural income - advances received from customers in land transactions - CIT(A) ought to have considered the...

7. Income of the assessee towards Excise duty, CST and VAT - the revenue authorities have proceeded on totally incorrect interpretation of facts of the case while making...

8. Addition on account on account of interest subsidy and excise refund - incentives to new industrial units and substantial expansion of the existing units - J & K -...

9. Difference in gross receipts as per Form no. 26AS and books of accounts of the assessee - The assessee is following the method of accounting as per which it was...

10. Addition on account of unexplained cash received from students and trainees - the cash deposited in the bank is fully accounted for and the addition made by the AO is ex-facie bad

11. Refund claim - amount deposited under protest or not - mark of protest in the cenvat credit account - Having considered, the Supplementary Instructions, Chapter 13 of...

12. Disallowance of Depreciation by reducing Written down value of assets by subsidy received - incentive received by the assessee is not covered under the provisions of...

13. Disallowance of deduction u/s 80IC - Subsidy - nexus between the profits and gains of the industrial undertaking or business - The assessee succeeds and claim of the...

14. Trading addition - Estimation of income - bogus purchases - when purchased are duly accepted by the VAT Department including the sales and manufacturing account and the...

15. Protective addition on account of unexplained credit entries appearing in the bank account - assessee company is a conduit - addition on account of unaccounted...