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Whether vessels/ships that are afloat are not goods and immovable property? - CESTAT says Yes - What about GST on supply of floating ship?    *    Services provided to the Govt/ local authority with regard to water supply - exemption will include activity of construction of tube wells    *    ABCD of MSME Credit (Shri S. S. Mundra, Deputy Governor – August 23, 2016 – at the 2nd CII National Conference on MSME Funding held in New Delhi)    *    RBI Reference Rate for US $    *    Government Approves Seven (7) Proposals of Foreign Direct Investment (FDI)    *    Cenvat Credit - It is neither possible nor practical for any service recipient to verify the fact of payment of service tax by the service provider. Remedy of the Revenue lies at the hands of the service provider and not at the hands of the service recipient. - Tri    *    Levy of penalty - the assesse's stand that they were under a bonafide belief that no tax liability would fall upon them as the same stands discharged by the sub-contractor is required to be appreciated in which case, the provisions of section 80 of the Finance Act, 1994 would get invoked – no penalty - Tri    *    Cenvat credit - availed input services credit without payment of value of input service and service tax on such service to the provider of services - violation of Sub Rule (7) of Rule 4 of Cenvat Credit Rules 2004 - If payment is made later, credit will be eligible - however, interest liability to be computed, if any. - Tri    *    Classification of soyabean oil – by-product in the course of manufacture of lecithin – classifiable under 15071000 as crude oil, whether or not degummed - Tri    *    Continuance of registration under section 12A denied - if it is found that the assessee was accepting bogus donations, then that fact can only lead to an inference that the activities of the trust are not genuine or are not carried out in accordance with the objects of the trust. - Tri    *    Exemption u/s 11 - charitable purpose u/s 2(15) - merely because profits have resulted from the activities of imparting education, it would not result in change of character of the education that it was solely for educational purpose. - Tri    *    Disallowance of loan processing charges and pre-payment charges paid to the bank - so long as the expenses incurred by the assessee are genuine and not part of any colorable device to make tax evasion, then such expenses should be allowed under the relevant provisions of the Act. - Tri    *    Penalty u/s 271B - threshold limit for getting its account audited u/s 44AB - Business activity or professional activity - gross receipts were only ₹ 42 lakhs - penalty quashed - Tri    *    ADDITIONAL DEPRECIATION UNDER SECTION 32(1) (iia) OF INCOME TAX ACT, 1961    *    Seeks to extend the levy of anti-dumping duty on imports of Caustic Soda, originating in, or exported from Chinese Taipei (imposed vide notification No.79/2011-Customs, dated the 23rd August, 2011) for a period of one year i.e. upto and inclusive of the 22nd August, 2017    *    Meaning and scope of supply under GST (Part 2) - Import of services will be treated as supply and will subject to GST under reverse charge.    *    Meaning and scope of supply under GST (Part 1) - Since CGST, SGST or IGST will be levied on supply of goods or services, it is important to understand this term first    *    service tax payament-reg    *    Education Cess / Secondary & Higher Education Cess    *    The Union Finance Minister Shri Arun Jaitley reviews the Implementation of Insolvency and Bankruptcy Code (IBC) 2016; Calls for quick action to implement the IBC in a time bound manner    *    Guidelines regarding Provisional Assessment under section 18 of the Customs Act, 1962    *    Operation and Maintenance Management of Well Stimulation Vessel - Classification of service in question under ‘Ship Management Service' under Section 65(95a) upheld - The service provided during the disputed period from 16.06.2005 to 31.03.2006, is not taxable, being composite service, and cannot be vivisected - Refund allowed - Tri

Income Tax Case Laws - Section: 274

Home Case Index Income Tax Sections List
Cases for Section: 274
Showing 1 to 15 of 297 Records
  • 2016 (7) TMI 616 - ITAT KOLKATA

    Penalty u/s 271(1)(c) - Held that - The show cause notice u/s. 274 of the Act is defective as it does not spell out the grounds on which the penalty is sought to be imposed. - Decided in favour of assessee

  • 2016 (8) TMI 503 - ITAT BANGALORE

    Penalty order under Section 271(1)(c) - Held that - We delete the penalty levied under Section 271(1)(c) of the Act for want of a valid show cause notice under Section 274 of the Act. - Decided in favour of assessee.

  • 2016 (7) TMI 1049 - ITAT DELHI

    Penalty u/s 271(l)(c) - undisclosed cash deposits - assessee argued that as sufficient surrender has been made by the assessee suo motu, the penalty proceedings initiated against him should be quashed - Held that - The surrender of income in case of ... ... ...

  • 2016 (6) TMI 838 - ITAT KOLKATA

    Penalty u/s 271(1)(c) - validity of show cause notice - Held that - The show cause notice u/s. 274 of the Act is defective as it does not spell out the grounds on which the penalty is sought to be imposed. Following the decision of the Hon ble Karnat... ... ...

  • 2016 (6) TMI 457 - ITAT KOLKATA

    Penalty u/s. 271(1) (c) - income disclosed u/s. 132(4)and included in the return filed u/s. 153A - Held that - On perusal of the said show cause notice issued u/s. 274 271(1)( c) of the Act purportedly issued to show cause why the penalty shall... ... ...

  • 2016 (7) TMI 267 - ITAT MUMBAI

    Penalty u/s 271(1)(c) on addition made u/s 68 - Assessee contended that she has neither concealed the income nor furnished inaccurate particular of income. All the relevant particular e.g. bank account, contract notes, share certificates, demat state... ... ...

  • 2016 (6) TMI 428 - ITAT JAIPUR

    Penalty U/s 271(1)(c) - assessee admitted additional income on account of undisclosed expenditure/investment towards purchase of land in survey U/s 133A - Held that - As per Section 275(1)(a) of the Act, the penalty order ought to have been passed on... ... ...

  • 2016 (6) TMI 927 - ITAT KOLKATA

    Penalty us/ 271(1)(c) - defective notice - Held that - The show cause notice u/s. 274 of the Act is defective as it does not spell out the grounds on which the penalty is sought to be imposed. - Following the decision of the Hon ble Karnataka High Co... ... ...

  • 2016 (6) TMI 485 - ITAT COCHIN

    Penalty levied u/s. 271C - short delay in remitting the TDS to the credit of Central Government - Held that - We find that there is a reasonable cause established by the assessee for remitting the TDS belatedly to the credit of the Central Government... ... ...

  • 2016 (5) TMI 977 - ITAT KOLKATA

    Penalty u/s 271(1)(c) - defective notice - Held that - In the order of the assessment the AO has not initiated penalty proceedings u/s 271(1)(c ) of the Act. As rightly pointed out by the ld. Counsel for the assessee even in the assessment proceeding... ... ...

  • 2016 (5) TMI 1163 - ITAT VISAKHAPATNAM

    Levy penalty u/s 271(1)(c) - undisclosed capital gain - assessee has sold the property during the financial year 2007-08 and computed the capital gain for the assessment year 2009-10 for which no satisfactory explanations has been offered - Held that... ... ...

  • 2016 (5) TMI 22 - ITAT DELHI

    Rectification of mistake - rectification of the order passed u/s 201(1) and 201(1A) seeked - Held that - what is required for adjudication is only the subsequent appeal of the assessee which is filed by him against the order u/s 154 dated 30th April,... ... ...

  • 2016 (5) TMI 1252 - ITAT DELHI

    Penalty u/s 271(1)(c ) - Held that - Penalty u/s 271(1)(c ) cannot be imposed in case where no specific charges are mentioned in the penalty notice. - Decided in favour of assessee

  • 2016 (5) TMI 1023 - ITAT BANGALORE

    Penalty u/s 271(1)(c) - Held that - It is imperative for the AO to show in the notice the default of assessee. Mere mentioning of the default in the assessment order may not be sufficient. Notice issued to the assessee does not specify the default of... ... ...

  • 2016 (5) TMI 544 - ITAT KOLKATA

    Penalty u/s 271(1)(c) - Held that - Penalty levied u/s 271(1)(c) of the Act is liable to be cancelled on the ground that there was no proper recording of satisfaction in the order of assessment and that the show cause notice u/s 274 of the Act does n... ... ...

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