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Refund - reduction in value - credit notes towards trade discount raised by the Assessee subsequent to the sale - refund allowed - SC    *    Delayed deposit of collected service tax - due to lack of funds - Such possibilities do occur in the world of business - No penalty - Tri    *    Settlement Commission (Income Tax and Wealth Tax) (Recruitment and Conditions of Service of Chairman, Vice-Chairman and Members) Amendment Rules, 2016    *    Seeks to amend Notification No. 26/2012- Service Tax dated 20.06.2012, by inserting of entry 5A for transportation of passengers embarking from or terminating in a Regional Connectivity Scheme (RCS) airports, with abatement of 90%,for a period of one year from the date of commencement of operations of the Regional Connectivity Scheme (RCS) airport, with condition of without taking any CENVAT credit    *    Disclosures on the Website    *    eligibility of service tax credit    *    service tax payament-reg    *    Removal of goods from Depot to Job worker    *    Commercial and Industrial Construction Services - confirmation of tax liability on the appellant on a category which is not alleged in the show-cause notice is traversing beyond the allegations made in the show-cause notice. - Tri    *    Demand of Service Tax in respect of the same transaction on the ground that the deposit of Service Tax was under a different category whereas a different category of service has been provided cannot be held to be justifiable. - Tri    *    Valuation - if it is found that the royalty payment shown in the Books of Account is not related to the present transaction and related to some other transaction, the same cannot be relevant for the valuation in the present case. - Tri    *    Levying tax at 4/5% on the contractee - if the petitioner furnishes proof of payment of tax by the contractors on the very same turnover, to then consider whether tax can be levied on the petitioner as it may then amount to taxing the very same deemed sale of goods twice. - HC    *    Cenvat credit - duty paid goods cleared on their own invoices received back due to defect/rejection - no procedure such as making application or taking permission is required for compliance of Rule 16. - Tri    *    Exemption from E. Cess and S.H.E. Cess under Notifications No. 28 and 29/2010 both dated 22.06.2010 is applicable only with respect to Clean Energy Cess levied under the Finance Act, 2010, but will not be applicable with respect to Central Excise duty levied on coal w.e.f 01.03.2011 - Tri    *    Cenvat credit - various light fittings and fixtures were brought into the factory after duty payment and were installed for the intended purposes. To call these items as immovable property is without basis - credit allowed - Tri    *    Unjust enrichment - Refund claim - the amount was deposited by the appellant on the direction of the appellate authorities. - question of unjust enrichment does not arise - Tri    *    WPC for bluetooth headphones.    *    Guarantee executed by the defendant - period of limitation extended on account of the acknowledgement of debt, in terms of Section 19 of the Limitation Act, 1963 - as there is no acknowledgement of debt, the provision of Section 19 of the said Act, are not attracted to the facts of the present case.- HC    *    Claim for depreciation on the leased vehicles - the finding by the ld. CIT(A) of the character of the lease as an operating lease cannot, under the circumstances, be faulted, and the assessee, accordingly, entitled to its claim for depreciation on the leased vehicles - Tri    *    Depreciation - prior to ending of the relevant financial year, though the assessee had an opportunity to take possession of the property for the purpose of fit-outs, he cannot say that he has put the property to use for the purposes of claim of depreciation u/s 32 of the Act either in respect of building or machinery therein - Tri    *    Addition u/s 145A - inclusion of service tax as part of trading receipts - ection 145A of the Act would have no application in cases where service is provided by the Assessee - HC    *    Loss on account of foreign currency forward/option contracts - It is only at the year end that one can still reconcile the hedging transactions with the actual exposure or delivery and come to a conclusion whether hedging contract exceeded the actual exposure or not but certainly not on week to week or month to month basis. - Tri

Income Tax Case Laws - Section: 234

Home Case Index Income Tax Sections List
Cases for Section: 234
Showing 1 to 15 of 21 Records
  • 2016 (7) TMI 523 - ITAT MUMBAI

    Interest levied u/s. 234 B and 234C - Held that - Interest u/s. 234B and 234C cannot be levied when tax was to be computed u/s. 115JB of the Act. See Kwality Biscuits Ltd. (2006 (4) TMI 121 - SUPREME Court ) and Rolta India Ltd 2011 (1) TMI 5 - SUPRE... ... ...

  • 2015 (11) TMI 1543 - ITAT MUMBAI

    TDS u/s 194J - transaction charges paid to stock exchanges - disallowance u/s. 40(a)(ia) - Held that - The matter is restored to the file of the assessing authority who shall delete the disallowance u/s. 40(a)(ia) upon verification of the assessee s ... ... ...

  • 2014 (7) TMI 466 - ITAT MUMBAI

    Interest expenditure Held that - The decision in Eminent Holdings Pvt. Ltd. 2014 (7) TMI 2 - ITAT MUMBAI and Hitesh S. Mehta Versus DCIT Central Circle- 23, Mumbai 2013 (10) TMI 1065 - ITAT MUMBAI - books of accounts produced by the assessee during t... ... ...

  • 2014 (7) TMI 505 - ITAT DELHI

    Validity of reassessment u/s 147/148 of the Act Held that - The decision in ACIT, Circle 37(1), New Delhi Versus Sood Brij & Associates 2014 (7) TMI 496 - ITAT DELHI followed - the reasons were recorded on 30th March, 2010 and on the same date no... ... ...

  • 2013 (8) TMI 668 - ITAT HYDERABAD

    Rectification of mistake - Tribunal directed AO to recalculate interest u/s 234A, 234B and adjustment of seized amount with advance tax - A.O. failed to follow direction - Held that - There is no mistake in the said order of the Tribunal, warranting ... ... ...

  • 2013 (5) TMI 560 - ITAT PUNE

    Income from undisclosed sources Appeal is related to two assessment years - AO made additions in income sustained by Ld. CIT(A) - Addition in income made u/s 153A of the Act - Held that - Assessee in his statement recorded u/s.132(4) has offered the ... ... ...

  • 2013 (4) TMI 144 - Bombay High Court

    Remitting the matter back to the file of the A.O - Depreciation U/s 32 on Intangible Assets - Interest U/s 234C - Bad debt - Held that - The Tribunal, as noted above, has considered it appropriate to restore the issue back to the Assessing Officer on... ... ...

  • 2011 (4) TMI 106 - ALLAHABAD HIGH COURT

    Interest u/s 234B and 234C - unpaid bonus - it was submitted by the assessee, that the provision was made by the assessee company in its books of account for bonus payable to the employees and the said amount was deductible on payment thereof to the ... ... ...

  • 2008 (4) TMI 370 - ITAT LUCKNOW-B

    ... ...
    ... ... tory, we set aside the appellate order and restore the matter to the file of AO to appropriately modify the assessment order for charging mandatory levy. 14. As a result, the appeal filed by the Revenue is partly allowed but for statistical purposes.

  • 2007 (3) TMI 161 - HIGH COURT, MADRAS

    Assessment Question raised that whether the assessee is entitled for the capital gain exemption u/s 54F for extension of house Held that exemption can t be denied by order u/s 143(1)(a)

  • 2007 (1) TMI 137 - BOMBAY High Court

    ... ...
    ... ... Chief Commissioner of Income-tax to consider the application of the petitioner in accordance with law and pass appropriate orders thereon. Rule is made absolute in terms of this order with no order as to costs. The writ petition stands disposed of.

  • 2006 (11) TMI 132 - DELHI HIGH COURT

    Penalty u/s 271 (1) (c) erroneous claim for deduction can t be equated to concealment of income - Since all the transactions had been mentioned by the Assessee in its Return, there is no concealment of income - Section 271(1)(c) is attracted only in ... ... ...

  • 2005 (12) TMI 88 - KERALA High Court

    ... ...
    ... ... Punjab and Haryana High Court wherein the Division Bench held that the amendment is calculated to clarify the ambiguity that was felt in the original provisions. In the circumstances, the original petitions are devoid of any merit and are dismissed.

  • 2005 (5) TMI 547 - ITAT MUMBAI

    ... ...
    ... ... by not correctly charging the interest. He will quantify the interest chargeable under these sections and direct the Assessing Officer, accordingly, to recover the same. 40. In the result, the appeal of the revenue is allowed for statistical purpose.

  • 2002 (3) TMI 41 - PUNJAB AND HARYANA High Court

    ... ...
    ... ... oes not provide for any penalty. It only regulates the levy of interest. Thus, no violation of article 20 is involved. No other point has been raised. In view of the above, we find no merit in this petition. It is, consequently, dismissed in limine.

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