Home Highlights September 2012 Year 2012 This

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1. Syndicate Bank added for e-tax payment. - Notification

2. Amendment in Delhi Value Added Tax Rules, 2005 - Notification

3. Levy of purchase tax payable - purchase of turmeric - Section 12 (2) of the Tamil Nadu Value Added Tax, 2006 - There was a paradigms shift from TNGST Act, 1959 when...

4. Reopening of assessment - The disposal of the objections was done in a mechanical manner. Even today, the Department has not been able to bring on record anything to...

5. Unexplained cash deposits in bank account - The claim of the assessee remained as a bald claim only followed by no evidence. Why the depositors will deposit their funds...

6. Notification on Income Computation and Disclosure Standards (ICDS) - ICDS notified in 2015 rescinded - Notification

7. TDS u/s 194A on Interest - non deduction of TDS due to direct adjustment by the Kotak Mahindra Ltd. – interest and penalty set aside - AT

8. Doctrine of mutuality - Interest earned on the bank deposits by clubs - Deposit of surplus funds by the appellant Clubs by way of bank deposits in various banks - the...

9. Addition regarding cash deposit made in the bank account - it is contended that, assessee had filed return of income u/s.44AD and deposit was made from the civil...

10. Reimbursable expenses cannot be added to the gross value for discharge of services tax - AT

11. Unexplained cash deposits in bank - receipt of rental deposits in cash - The fact remains that the cash rental deposits have been received by the assessee which is not...

12. Regarding Tax rate wise details of closing stock as on 31st March of every year - Notification

13. Non-Banking Financial Company (NBFC) categorization - Amendment made in sec 43B and 43D to substitute the words, “a deposit taking non-banking financial company or...

14. Unexplained money u/s 69A - cash deposit in the Saving Bank Account - Since the assessee has not disclosed this bank account in the return of income, therefore, deposit...

15. Interpretation of statute - Levy of VAT - credit note received subsequent to the date of the invoice - Determination of Turnover - Input Tax Credit - Large Bench...