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Income Tax: SEZ unit - The accounting entries cannot form the basis for denying the exemptions on account of warehousing charges to the assessee under section 10AA - Tri

Income Tax: Addition u/s 68 - Each investment has not been examined separately. No material has been gathered by the A.O. to contradict the evidence filed by the assessee. The A.O. merely rejected the evidences without proper reason - no addition - Tri

Income Tax: Levy of interest & Penalty - If the petitioner-Corporation was of the view that the provisions of Section 206C of the Income Tax Act were not applicable to the petitioner-Corporation, the Corporation should not have collected the tax at source at 5% - Demand sustained - HC

Income Tax: Approval granted to reopen the assessment u/s 147/148 - In the present case, the exercise appears to have been ritualistic and formal rather than meaningful, which is the rationale for the safeguard of an approval by a higher ranking officer - ITAT rightly held that there was no proper application of mind by the concerned sanctioning authority u/s 151 - HC

Income Tax: Addition u/s 68 - unexplained money in the guise of share transactions - blue chip companies - rates at which purchases and sales had been made could not be shown to be manipulated - The department was unable to discharge the burden that was on it to prove that the transactions were in any manner bogus or fictitious. - HC

Income Tax: Additions towards receipt of excise duty - non-crediting of 'Excise Duty Receivable' to the P & L Account - avoiding the provisions of Section 43B - the excise duty, recovered by it, would not constitute any income to the assessee itself in order to invite the imposition of any tax - HC

Service Tax: Exemption under N/N. 12/03-ST dated 20.01.2003 - retreading the tyres - The first Appellate Authority reversed to the decision (of original authority who has allowed the exemption) in his ex parte proceedings wrongly - Demand set aside - Tri

Service Tax: Refund claim - having discharged the entire liability, whether the petitioner was entitled for refund of the amount remitted by Airport Authority of India to the 3rd respondent? - Refund allowed - HC

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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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