Home Highlights January 2013 Year 2013 This

You may also like:

1. Scope of Explanation C of Section 43B - Actual payment of interest or not - Issuance of debenture in lieu of Interest - since Explanation 3C was added in 2006 with the...

2. Deduction u/s 43B - payment of bonus - u/s 43B only actual payment and not any notional or deemed payment that would be relevant for considering the deduction - HC

3. Addition u/s 43B - service tax liability - Section 43B does not contemplate liability to pay service tax before actual receipt of the funds in the account of the...

4. Disallowance of unpaid service tax u/s 43B - Section 43B does not contemplate liability to pay the service tax before actual receipt of the funds in the account of the...

5. Allowance of expenses on actual payment – provisions of section 43B are applicable on non-payment of interest on the delayed payment of due service tax - AT

6. Bogus purchases - addition @ 12.5% of the bogus purchases - accommodation entries - no actual delivery of goods - notices issued u/s 133(6) were returned back unserved...

7. Addition of contract receipts - bogus activity - Estimation of income - The AO had made an addition to the assessee's income, alleging discrepancies in the contract...

8. Input Tax Credit denied - availment and utilisation of ITC by the petitioner against invoices issued without actual receipt of goods - According to the dictum of the...

9. Provision made towards gratuity - the meaning as given in section 43B cannot be said to be the same as in section 40A(7)(b)(i) - it is not necessary that actual payment...

10. Disallowance of interest on customs duty - As customs duty is allowable only on payment basis under section 43B, interest levied on arrears or late payment of customs...

11. Disallowance of payment u/s 43B - Explanation 3C only prohibits an assessee for recognizing the actual payment of interest by converting its interest into loan or...

12. Nature of receipt - additions towards receipt of Corpus Fund - additions on account of Corpus contribution received by the appellant being a Trust - held as capital...

13. Wrong availment of input tax credit - In the case in hand, the petitioner has only brought on record the tax invoices, e-way bills, GR and payment through banking...

14. On money receipts - additions based on the disclosure made before the Settlement Commission, however, the application was rejected by the commission - As a settled...

15. Disallowance of prior period expenses - Addition towards ESI payment - provisions of Section 43B of the Act which provides that certain expenditure / payments which are...