Home Highlights October 2012 Year 2012 This

You may also like:

1. Levy of personal penalty of Rs. 10 lacs u/r 26 of CER, on appellant being DGM-Finance of the company - The appellant being worked as DGM Finance ultimately all the...

2. Exemption u/s 10(23C)(iiiad) - Threshold limit of Rs. 1 Crore - The Appellate Tribunal found that the appellant's gross receipts, when considering certain fee receipts...

3. Automatic Reduction/Enhancement upto 10% Duty saved amount and pro rata Reduction / Enhancement in export obligation

4. The case involves non-compliance with FSSAI Regulations regarding imported areca nuts. The appellant seeks re-export due to inferior quality. The impugned goods were...

5. Levy of penalty- Fraudulent issuance of GDRs by the Company - the imposition of penalty upon the appellant after 12 years from date of resigning is excessive. In a large...

6. Revocation of customs broker license - Appellant is not a valuation expert and had played no role in the under valuation of the goods. The appellant acted purely on the...

7. Refund claim of amount deposited during investigation - the appellant is entitled to refund with interest under Section 35 FF, for which no limitation is applicable. The...

8. Income tax slabs - Upto 2 lacs = nil, from 2 lacs to 5 lacs = 10%, from 5 lacs to 10 lacs = 20%, above 10 lacs = 30%

9. Levy of penalty u/s 270A - Excess exemption claimed on Gratuity u/s 10(10)(i) and Leave Encashment receipts u/s 10(10AA)(ii) - The Appellate Tribunal recognized the...

10. Assessment u/s 153A - benefit of exemption u/s 11 - Bogus purchases - even if the benefits of section 11 is denied than too there can be no income of the appellant trust...

11. Exemption u/s 11- Power of AO to consider revised Form 10 - revised Form 10 for accumulation of income can be furnished in the course of assessment proceedings before...

12. Small service provider - exemption upto 10 lakhs - Renting out of immovable joint property – Exemption to each owner or jointly - prima facie each owner is eligible for...

13. CONSOLIDATED FDI POLICY (EFFECTIVE FROM 10-4-2012) updated upto 22-09-2012

14. Revocation of Customs Broker License - Allegation of violation of Regulation 10 not proved - However, in view of the failure of the appellants to have acted in a...

15. Doctrine of mutuality - Income generated by Clubs with the Appellate Association - the income in dispute relates to pay and park charges, rent from Vodafone Tower, rent...