Home Highlights January 2018 Year 2018 This

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1. Compounding of default - Tribunal has the power to compound the offence as brought forth in this application. In relation to the provision above it is seen that the...

2. Disallowance of provision for fraud - AO and CIT(A) doubting the type of expenditure has observed that out of total expenditure for the year 1/5th is to be disallowed -...

3. Compounding of offences - threshold limit of holding directorship in companies - This Court is of the opinion that earlier one show cause notice was issued on...

4. Provision for bad and doubtful debts u/s 36(1)(viia) against the advances of rural branches - The circular mentions that the provisions of new clause (viia) of section...

5. Compounding of Offences - non-filing of the cost audit report - section 233B of the Companies Act, 1956 - this Tribunal has the power to compound the offence as brought...

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

7. Valuation of imported goods - Related person - Merely because there were transfer of funds in India amongst three importers will not make them related persons in terms...

8. Dishonor of Cheque - settlement of disputes between the parties - compounding of offences u/s 138 - Needless to say, the operation or effect of a general Act can be...

9. Offence under FEMA - Levy of penalty post compounding orders - We cannot hold petitioners responsible for contravention once the compounding orders have been passed. We...

10. TDS u/s 194C or 194I - car rent expenses incurred by assessee - variation in threshold limit - the assessee has deducted TDS u/s. 194I in respect of one of the lessor,...

11. Compounding of offences - KVAT Act - For compounding an offence, which of the compounding fees should be paid by the assessee: the one prevailing when the evasion took...

12. RBI circulars on various issues relating to money laundering activities and issues relating to FII

13. Compounding of offence - non-compliance with the CSR initiatives - for violation of provisions of section 134(3)(o) r.w.s 135 of the Companies Act, 2013 - prosecution...

14. Classification of goods intended to be imported - Compounded Rubber - Compounded rubber formulation 1 (with less than 5 parts of Carbon Black) mentioned in para 5.1...

15. Compounding of offence(s) - determination of compounding fee - first occasion - 5% or 3% of the amount of tax in default - Since a common application had been filed for...