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Income Tax: Validity of reopening u/s 147 - the escaped income for which proceedings were initiated were brought to tax. AO has power to make enquiry on other issues also and the issue of commission was already being enquired.

Income Tax: Right to file an appeal before CIT(A) where the application for revision u/s 264 rejected by the CIT - Notwithstanding unsuccessful effort of the assessee in the revisional proceeding, still the assessee can file an appeal - thus assessee invoked revisional jurisdiction u/s 264 of the Act, it cannot constitute a bar for invoking the appellate jurisdiction.

Income Tax: Disallowance for conversion charges paid to the Municipal Corporation - when necessary expenditure has been incurred by making payment to the MCD, it cannot be of any enduring benefit to the assessee - charges have been paid by the assessee for regularization of his existing business thus revenue in nature.

Income Tax: Levy of penalty u/s 271(1)(c) - Once the AO accepts the revised return filed u/s 153A, the original return under Section 139 abates and becomes non-est - assessee has voluntarily admitted the unexplained expenditure and AO has accepted the same - No penalty can be levied.

Customs: Absolute Confiscation - Gold jewellery in question was not declared - Since it is not prohibited item, in terms of the liberalized policy, jewellery can be brought and cleared on payment of duty.

Customs: Import of Asphalt Hot Mix Plant - since the conditions of the notification were not complied with and from the facts of the case it is very clear that the same were never intended to be complied with, the impugned order confirming demand, penalties and confiscation of goods has been rightly passed.

Customs: Mis-declaration of imported goods - Import of D. C. Defibrillators’ (DCD) with Standard Accessories - The wrong serial number of notification mentioned during filling of Bill of Entry was not intended. In such case it was not an intentional act of evading duty. - Benefit of exemption allowed.

Customs: Import of Lead Acid Batteries - The appellant being the actual user and the lead batteries have been imported not for the purpose of sale, the condition of filing the registration certificate, though not applicable in toto, has been substantially complied by them. - Order of confiscation and penalty set aside.

Service Tax: Refund of CENVAT credit - N/N. 05/2006 – CE (NT) lays down that the amount claimed as refund of CENVAT amount should be debited before applying for the Refund and the appellant had not done so. They have debited the amount, but much later and thereby they violated the condition 2(h) of the notification - Refund was rightly rejected.

Service Tax: Renting of immovable property - joint ownership - SSI exemption - Clubbing of clearances - each individual owner is entitled to avail the benefit of threshold limit of ₹ 10 lakhs under N/N. 8/2008 dated 01/03/2008.

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Notifications

Cus (NT) - Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg

Cus - Seeks to further amend notification No. 50/2017- Customs dated 30.06.2017

Co. Law - Companies (Registered Valuers and Valuation) 2nd Amendment Rules, 2018

Co. Law - Companies (Significant Beneficial Owners) Rules, 2018

Co. Law - Companies (Management and Administration) 2nd Amendment Rules, 2018

Co. Law - Central Government appoints the 13th June, 2018 as the date on which the Sections of Companies (Amendment) Act, 2017 shall come into force

Cus (NT) - Amendment to Notification no. 62/94-Customs (N.T.) dated 21.11.1994 notifying Karanja Terminal u/s 7(a) of Customs Act, 1962 for unloading of imported goods and loading of export goods or any class of goods.

CGST - Goods which may be disposed off by the proper officer after its seizure under the Central Goods and Services Tax Act

IT - Amendment in Notification No. 44/2017 Dated 5th June 2017

CGST - Central Goods and Services Tax (Fifth Amendment) Rules, 2018

Co. Law - Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2018

LLP - Limited Liability Partnership (Amendment) Rules, 2018

FTP - Amendment in import policy conditions of Natural Rubber under Exim code 4001 10 of Chapter 40 of ITC (HS), 2017 - Schedule - 1 (Import Policy)

Cus (NT) - Notifying under Section 7 of Customs Act 1962, Surat airport as Customs airport

Cus (NT) - Powers of adjudication of the officers of Customs

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Jiva Seva is Shiva Seva:
Service to humanity is Service to God

May I be born again and again, and suffer thousands of miseries so that I may worship the only God that exists, the only God I believe in, the sum total of all souls—and above all, my God the wicked, my God the miserable, my God the poor of all races, of all species, is the special object of my worship.

- Swami Vivekananda, CW, 5:137
 
 
 
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