Tax Management India. Com
                        Law and Practice: A Digital eBook ...

Category of Documents

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Manuals SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 
Highlights

Central Excise: Interest on delayed refund - section 11B and section 11BB of CEA - interest not granted on the ground that the refund has been sanctioned under directions of Hon’ble High Court within the time limit prescribed by High Court - Not a valid ground - Claim of interest allowed.

Income Tax: Reference to the DVO - Proceedings u/s 153-C has been held without jurisdiction - whether reference to DVO in 153-C proceeding is valid - Once the very basis for referring the matter to the Departmental Valuation Officer has vanished, the entire proceedings cannot be held to be justified.

Income Tax: Initiation of prosecution - Penalty upheld by ITAT - substantial question of law relating to penalty u/s 271(1)(c) pending before High Court - at this stage, there would no question of launching prosecution - initiation of prosecution stayed.

Income Tax: Computation of capital gain u/s 48 - Deduction of property tax - payment of Property Tax could not be said to have been incurred wholly and exclusively in connection with the transfer of the property in terms of Section 48 - not deductible.

Income Tax: Penalty u/s 271(1)(c) - computation of short term capital gains on sale of various office premises - WDV taken as per The Companies Act as against Income Tax Act - bonafide computational error - could not be termed as furnishing of inaccurate particulars of income which justifies imposition of penalty u/s 271(1)(c).

Income Tax: Addition u/s 14A - Expenses incurred for earning dividend income - assessee itself suo moto made the disallowance - recording proper satisfaction - The onus was on AO to reject the assessee’s computations and record a finding, having regard to accounts of the assessee, as to how those computations were not satisfactory - addition deleted

Income Tax: Disallowance of business promotion expenses - ad-hock disallowane @ 30% - no enquiry whatsoever from the parties to whom the said expenses were paid by the assessee - no instance to show any unverifiable element involved in the business promotion expenses - adhoc disallowance not sustainable.

Income Tax: Exemption u/s 10(23FB) -Venture Capital Fund [VCF] - investments in Convertible Debenture application money - violation of SEBI (Venture Capital Fund) Regulations - permitted by its Trust Deed as well as by the VCF Regulations of SEBI to temporarily deploy funds in units of mutual funds as well as in Convertible Debenture application money - exemption allowable

Income Tax: Unexplained investment - lottery coupons found in possession in search - No explanation to whom it belongs - additions confirmed since there is a proximity between the coupons and investment

Income Tax: Bogus purchases - profit @12.5% upheld - purchases through the grey market - reduction of gross profit already shown and offered to tax from profits earned by the assessee on bogus purchase transaction @12.5% is permissible.

More Highlights

Articles
Notifications

FTP - Amendments to Foreign Trade Policy 2015-2020 - Extension of Integrated Goods and Service Tax (IGST) and Compensation Cess exemption under Advance Authorisation, EPCG and EOU scheme upto 31.03.2020.

Indian Law - Central Government appoints the 20th day of March, 2019, as the date on which the provisions of section 22 in the Finance Act, 2019 (7 of 2019) shall come into force

Indian Law - Appointment Notification of Member, Competition Commission of India

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

Cus (NT) - Amendment to the Notification No. 63/1994-Customs (N.T) dated 21st November, 1994, by notifying Dera Baba Nanak LCS

Cus - Seeks to amend notification No. 152/2009-Customs dated 31.12.2009 so as to grant tariff concession in respect of goods under tariff sub heading 4809 90 imported from Korea RP under the India-Korea Comprehensive Economic Partnership Agreement (CEPA).

IBC - Insolvency and Bankruptcy (Application to Adjudicating Authority) Amendment Rules, 2019.

IT - U/s 10(46) of the Income-tax Act, 1961 Central Government notifies ‘Prayagraj Mela Pradhikaran, Prayagraj’, an authority constituted by the State Government of Uttar Pradesh, in respect of the specified income arising to that authority

ADD - Seeks to prescribe provisional assessment for 'Saturated Fatty Alcohols' when originating in or exported from subject countries by M/s PT. Energi Sejahtera Mas (producer) Indonesia through M/s Sinarmas Cespa Pte Ltd (exporter/trader) Singapore and imported into India.

IBC - President hereby accepts the resignation of Ms. Suman Saxena from the post of WTM, IBBI w.e.f. 08.10.2018.

IT - Section 118 of the Income-tax Act, 1961 - Central Board of Direct Taxes directs that the Commissioner of Income-tax (e-Verification) shall be subordinate to the Principal Director General of Income-tax (Systems)

IT - U/s 120(1) and (2) of the Income-Tax Act, 1961 - Central Board of Direct Taxes directs that the Principal Director General of Income-tax (Systems), Delhi, shall exercise the powers and perform the functions in respect of such territorial area or such persons or class of persons or such incomes or class of incomes or such cases or class of cases, in respect of which the Commissioner of Income-tax (e-Verification) has jurisdiction vested in him

IT - U/s 120(1) and (2) of the Income-Tax Act, 1961 - Jurisdiction of Income tax Authorities

IT - U/s 35(1) (ii) of IT Act 1961 Central Government approved M/s Indian Institute of Science Education and Research, Bhopal

CGST - Central Government notifies the creation of the National Bench of the Goods and Services Tax Appellate Tribunal (GSTAT) at New Delhi

More Notifications

Circulars/ Public Notices

DGFT - Online filing and processing of applications for export of Restricted items (Non-SCOMET) at DGFT HQ.

Customs - Stepping up of preventive vigilance mechanism by CBIC field formations during the 17th Lok Sabha election process

DGFT - Online facility for obtaining import license for 'Restricted' items from 18th March, 2019 (Para 2.50 of Handbook of Procedures, 2015-2020)

DGFT - New Online facility for obtaining import license for 'Restricted' items from 18th March, 2019 (Para 2.50 of Handbook of Procedure, 2015-2020)

VAT - Delhi - Matter of 2A & 2B mismatch, raising mismatch amount from ₹ 5000 to ₹ 10000

DGFT - Consideration of applications for grant of authorization for import of gold dore

SEBI - SEBI (Delisting of Equity Shares) Regulations, 2015 – “Timelines for Counter Offer Process”

FEMA - Trade Credit Policy – Revised framework

SEBI - Modification of circular dated December 7, 2018 on ‘Disclosure of significant beneficial ownership in the shareholding pattern’

GST - Appointment of common authority for the purpose of exercise of powers under sections 73,74, 75 and 76 of the CGST Act, 2017

SEBI - Review of Investment by Foreign Portfolio Investors (FPI) in Debt Securities

Customs - Scheme for Rebate of State and Central Taxes and Levies on export of garments and made-ups (RoSCTL)

DGFT - Discontinuation of physical copy of Advanced/EPCG Authorisation — Procurement from SEZs

DGFT - Onetime condonation under the EPCG Scheme — Extension till 30.09.2019

Companies Law - Clarification on filing of e-form RD-1 -Conversion of public company into private company and change in a Financial Year

More Circulars

News

Some thoughts on Fiscal Federalism (Shri Shaktikanta Das, Governor, Reserve Bank of India - March 19, 2019 - Delivered at the launch of the book ‘Indian Fiscal Federalism’, Mumbai)

14th CII-EXIM Bank Conclave on India-Africa Project Partnerships Concludes in New Delhi

Decisions taken by the GST Council in the 34th meeting held on 19th March, 2019 regarding GST rate on real estate sector

IBBI, SEBI sign MoU for better implementation of IBC

Auction for Sale (Re-issue) of ‘7.32% Government Stock 2024’, Auction for Sale (Re-issue) of ‘7.26% Government Stock 2029’, Auction for Sale (Re-issue) of ‘6.57% Government Stock 2033’, and Auction for Sale of (Re-issue) of ‘7.06% Government Stock 2046’

Income Tax Department continues to hit at terror financing activities in J&K Region

National Guidelines on Responsible Business Conduct

India’s Foreign Trade: February 2019

Signing of Bilateral Agreement for Exchange of Country-by-Country (CbC) Reports between India and the USA

First Workshop on India Energy Modelling Forum Held

MCA releases national guidelines on responsible business conduct

Cabinet approves proposal for accession of India to (a) The Nice Agreement on the International classification of goods and services for the purposes of registration of marks

Quick estimates of Index of Industrial production and use-based Index for the month of January, 2019 (Base 2011-12=100)

14thCII-EXIM Bank Conclave on India-Africa Project Partnerships to be held in New Delhi on March 17 – 19

Proposed GST Return - Sahaj

More News

Forum - Popular issues
Forum - Recent Replied Issues
 
Latest Case Laws
  • I.Tax
  • GST
  • Customs
  • Co.Law
  • IBC
  • PMLA
  • FEMA
  • S.Tax
  • C.Ex.
  • VAT/CST
  • Others
  • 2019 (3) TMI 1079


  • 2019 (3) TMI 1071


  • 2019 (3) TMI 1070


  • 2019 (3) TMI 1069


  • 2019 (3) TMI 1068


  • 2019 (3) TMI 1067


  • 2019 (3) TMI 1066


  • 2019 (3) TMI 1065


  • 2019 (3) TMI 1064


  • 2019 (3) TMI 1063


  • 2019 (3) TMI 1062


  • 2019 (3) TMI 1061


  • 2019 (3) TMI 1060


  • 2019 (3) TMI 1059


  • 2019 (3) TMI 1039


  • 2019 (3) TMI 1038


  • 2019 (3) TMI 1037


  • 2019 (3) TMI 1036


  • 2019 (3) TMI 1035


  • 2019 (3) TMI 1034


  • 2019 (3) TMI 1033


  • 2019 (3) TMI 1032


  • 2019 (3) TMI 1031


  • 2019 (3) TMI 1030


  • 2019 (3) TMI 1029


  • 2019 (3) TMI 1078


  • 2019 (3) TMI 1077


  • 2019 (3) TMI 1076


  • 2019 (3) TMI 1075


  • 2019 (3) TMI 1074


  • 2019 (3) TMI 1073


  • 2019 (3) TMI 1072


  • 2019 (3) TMI 1015


  • 2019 (3) TMI 1014


  • 2019 (3) TMI 1013


  • 2019 (3) TMI 1012


  • 2019 (3) TMI 1011


  • 2019 (3) TMI 1010


  • 2019 (3) TMI 1009


  • 2019 (3) TMI 1008


  • 2019 (3) TMI 1007


  • 2019 (3) TMI 931


  • 2019 (3) TMI 930


  • 2019 (3) TMI 929


  • 2019 (3) TMI 928


  • 2019 (3) TMI 1058


  • 2019 (3) TMI 1057


  • 2019 (3) TMI 1056


  • 2019 (3) TMI 985


  • 2019 (3) TMI 984


  • 2019 (3) TMI 983


  • 2019 (3) TMI 982


  • 2019 (3) TMI 966


  • 2019 (3) TMI 965


  • 2019 (3) TMI 964


  • 2019 (3) TMI 890


  • 2019 (3) TMI 889


  • 2019 (3) TMI 888


  • 2019 (3) TMI 829


  • 2019 (3) TMI 720


  • 2019 (3) TMI 719


  • 2019 (3) TMI 718


  • 2019 (3) TMI 717


  • 2019 (3) TMI 716


  • 2019 (3) TMI 715


  • 2019 (3) TMI 963


  • 2019 (3) TMI 962


  • 2019 (3) TMI 961


  • 2019 (3) TMI 960


  • 2019 (3) TMI 886


  • 2019 (3) TMI 882


  • 2019 (3) TMI 673


  • 2019 (3) TMI 620


  • 2019 (3) TMI 619


  • 2019 (3) TMI 591


  • 2019 (3) TMI 521


  • 2019 (3) TMI 354


  • 2019 (3) TMI 353


  • 2019 (3) TMI 292


  • 2019 (3) TMI 198


  • 2019 (2) TMI 1502


  • 2019 (2) TMI 1453


  • 2019 (2) TMI 1451


  • 2019 (2) TMI 1410


  • 2019 (2) TMI 1183


  • 2019 (3) TMI 1016


  • 2019 (3) TMI 981


  • 2019 (3) TMI 980


  • 2019 (3) TMI 959


  • 2019 (3) TMI 958


  • 2019 (3) TMI 957


  • 2019 (3) TMI 883


  • 2019 (3) TMI 881


  • 2019 (3) TMI 880


  • 2019 (3) TMI 879


  • 2019 (3) TMI 878


  • 2019 (3) TMI 826


  • 2019 (3) TMI 825


  • 2019 (3) TMI 657


  • 2019 (3) TMI 618


  • 2019 (3) TMI 451


  • 2019 (3) TMI 352


  • 2019 (3) TMI 351


  • 2019 (3) TMI 350


  • 2019 (3) TMI 309


  • 2019 (3) TMI 822


  • 2019 (3) TMI 121


  • 2019 (3) TMI 50


  • 2019 (2) TMI 1362


  • 2019 (2) TMI 962


  • 2019 (2) TMI 961


  • 2019 (2) TMI 883


  • 2019 (2) TMI 882


  • 2019 (2) TMI 213


  • 2019 (2) TMI 96


  • 2019 (2) TMI 95


  • 2019 (1) TMI 1312


  • 2019 (1) TMI 1249


  • 2019 (1) TMI 1182


  • 2019 (1) TMI 1181


  • 2019 (1) TMI 832


  • 2019 (1) TMI 831


  • 2019 (1) TMI 830


  • 2019 (1) TMI 572


  • 2019 (1) TMI 515


  • 2019 (3) TMI 824


  • 2019 (3) TMI 823


  • 2019 (3) TMI 550


  • 2019 (2) TMI 1039


  • 2019 (2) TMI 963


  • 2019 (2) TMI 884


  • 2019 (2) TMI 214


  • 2019 (1) TMI 1502


  • 2019 (1) TMI 980


  • 2019 (1) TMI 190


  • 2019 (1) TMI 26


  • 2018 (12) TMI 445


  • 2018 (12) TMI 444


  • 2018 (11) TMI 367


  • 2018 (11) TMI 310


  • 2018 (11) TMI 188


  • 2018 (10) TMI 1420


  • 2018 (10) TMI 1081


  • 2018 (10) TMI 1015


  • 2018 (10) TMI 411


  • 2019 (3) TMI 1055


  • 2019 (3) TMI 1054


  • 2019 (3) TMI 1053


  • 2019 (3) TMI 1052


  • 2019 (3) TMI 1051


  • 2019 (3) TMI 1050


  • 2019 (3) TMI 1049


  • 2019 (3) TMI 1048


  • 2019 (3) TMI 979


  • 2019 (3) TMI 978


  • 2019 (3) TMI 977


  • 2019 (3) TMI 976


  • 2019 (3) TMI 975


  • 2019 (3) TMI 971


  • 2019 (3) TMI 956


  • 2019 (3) TMI 955


  • 2019 (3) TMI 954


  • 2019 (3) TMI 953


  • 2019 (3) TMI 952


  • 2019 (3) TMI 951


  • 2019 (3) TMI 1047


  • 2019 (3) TMI 1046


  • 2019 (3) TMI 1045


  • 2019 (3) TMI 1044


  • 2019 (3) TMI 1043


  • 2019 (3) TMI 1042


  • 2019 (3) TMI 1041


  • 2019 (3) TMI 1040


  • 2019 (3) TMI 974


  • 2019 (3) TMI 973


  • 2019 (3) TMI 972


  • 2019 (3) TMI 970


  • 2019 (3) TMI 950


  • 2019 (3) TMI 949


  • 2019 (3) TMI 948


  • 2019 (3) TMI 947


  • 2019 (3) TMI 946


  • 2019 (3) TMI 945


  • 2019 (3) TMI 944


  • 2019 (3) TMI 943


  • 2019 (3) TMI 1022


  • 2019 (3) TMI 1021


  • 2019 (3) TMI 1020


  • 2019 (3) TMI 1019


  • 2019 (3) TMI 1017


  • 2019 (3) TMI 969


  • 2019 (3) TMI 968


  • 2019 (3) TMI 967


  • 2019 (3) TMI 935


  • 2019 (3) TMI 934


  • 2019 (3) TMI 933


  • 2019 (3) TMI 932


  • 2019 (3) TMI 846


  • 2019 (3) TMI 845


  • 2019 (3) TMI 844


  • 2019 (3) TMI 774


  • 2019 (3) TMI 773


  • 2019 (3) TMI 772


  • 2019 (3) TMI 771


  • 2019 (3) TMI 770


  • 2019 (3) TMI 1018


  • 2019 (3) TMI 843


  • 2019 (3) TMI 842


  • 2019 (3) TMI 769


  • 2019 (3) TMI 675


  • 2019 (3) TMI 601


  • 2019 (3) TMI 600


  • 2019 (3) TMI 544


  • 2019 (3) TMI 403


  • 2019 (3) TMI 337


  • 2019 (3) TMI 336


  • 2019 (3) TMI 295


  • 2019 (3) TMI 294


  • 2019 (3) TMI 232


  • 2019 (3) TMI 231


  • 2019 (3) TMI 93


  • 2019 (3) TMI 20


  • 2019 (2) TMI 1544


  • 2019 (2) TMI 1473


  • 2019 (2) TMI 1394


 
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
 
 
 

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Blog || Site Map - Recent || Site Map ||