2018 (8) TMI 919
Nature of sale of Hotel premises - whether the sale of land and building of hotel is to be treated as slump sale or not - Scope of section 50B - Held that - The mistake committed in the return of income cannot be the basis of assessment of non-taxable receipt as income. - In order to understand whether the sale was a slump sale or sale of independent items of assets, necessary we have to examine the intention of the parties to the sale agreement........ + More
2018 (8) TMI 918
Short term or long term capital gain - determination of period of holding of property - the assessee has purchased the long term capital assest being godown as per agreement dt. 24-04-2008 - assessee has paid the Stamp Duty on the said agreement dt 20/04/2008 - part payment was made at the time of agreement - substantial and remaining payment was made as on 11-07-2008 and property got registered with the registrar. - Held that - In the instant ca....... + More
2018 (8) TMI 917
Assessment u/s 153A - undisclosed income - addition based on statement of the assessee during search which was not retracted - incriminating material - Although, the assessee has admitted undisclosed income for AY 2012-13, failed to disclose such income in the return of income; however, disclosed the same in the assessment year 2013-14. According to the assessee, it has admitted undisclosed income for AY 2012-13 by mistaken understanding of facts....... + More
2018 (8) TMI 916
Revision of assessment order u/s 263 - an order which is erroneous nor detrimental to the interest of the revenue - invoking the provisions of section 36(1)(ii) - Commission paid to directors for services rendered - performance bonus paid to directors for services rendered to the company in terms of the board resolution. - Payment to avoid payment of dividend distribution tax (DDT) - Held that - The AO has called for necessary enquiries during th....... + More
2018 (8) TMI 915
Levy of fee u/s 234E - Late of submission of TDS returns - all the intimations under section 200A of the Act were issued before June 1, 2015 - Held that - When the intimations were issued before June 1, 2015, this Tribunal is of the considered opinion that the Assessing Officer has no jurisdiction to levy fee under section 234E of the Act. - this Tribunal is of the considered opinion that before June 1, 2015, the Assessing Officer cannot levy fee....... + More
2018 (8) TMI 914
Disallowing the expenses u/s 37(1) - After obtaining the Certificate of Commencement, the assessee company had taken several steps in connection with the setting up of a five star hotel - taxability of interest income derived from Fixed Deposits (FDs) and mutual funds under the head of other sources - Held that - we find more merit in the assessee s alternative plea for netting off the interest income against pre-operative expenses. On this alter....... + More
2018 (8) TMI 913
Disallowance made under section 14A on account of interest - assessee suo moto disallowed a certain sum - AO observed that, claim of the assessee of having earned the substantial income by way of dividend by incurring a nominal expenditure was not correct. - Held that - for the purpose of applying Rule 8D(2)(ii) prior to its amendment with effect from 02.06.2016, what would be considered as amount of expenditure by way of interest would be the in....... + More
2018 (8) TMI 912
Ad hoc disallowance of expenses on estimated basis - telephone expenses, deepawali expenses, rent, miscellaneous expenses and travelling expenses - whether expenses were incurred wholly and exclusively for the purpose of business - Held that - Assessing Officer has verified all the vouchers with the ledger account of these expenses but he could not be able to pinpoint any defect in such bills and vouchers maintained by the assessee, except expres....... + More
2018 (8) TMI 911
Income received from undivided share in I.T.Park - income from business or house property - Held that - the assessee may not have constructed the I.T.Park he is a developer of the I.T.Park. From the Memorandum of Association of the assessee company he has found that the main object of the assessee company is to carry on all or any of the business as estate builders of residential, office or any other type of accommodation and for that purpose to ....... + More
2018 (8) TMI 910
Assessee in Default u/s 201(1) - Failure to deduct tax at source (TDS u/s 192) - The assessee (KPTCL) paid cash equivalent to its employees at the time of their retirement - Exemption u/s 10(10AA) in respect of payment in lieu of leave period not availed by the employee - Sec.10(10AA) does not define as to who is to be regarded as employee of Central or a State Government. The revenue s case is KPTCL is not State Government but a statutory corpor....... + More
2018 (8) TMI 908
Applicability of notifications - N/N. 21/2002-Cus. dated 1.3.2002 and N/N. 6/2006-CE dated 1.3.2006 - Anesthesia Ventilatory System i.e., Aestiva /5-7100; Avance/5; Aestiva/5-7900; S/5-Aespire and Aisys - appellants have classified the goods under CTH 9019 2090 and claimed concessional rate of duty as per Sl. No.363 (A), List 37 of Notification No.21/2002-Cus. dated 1.3.2002 and Item No.3 under Central Excise Notification No.6/2006 dated 1.3.2006....... + More
2018 (8) TMI 907
Refund of the security deposit - denial of refund on the ground that the appellant has not preferred appeal against the imposition of redemption fine and penalty. - Held that - The adjudicating authority has correctly imposed redemption fine as well as penalty. Only after passing the order, the appellant can chose to redeem the goods or waive the option to redeem the goods. In such circumstances, after passing the order, the appellant has chosen ....... + More
2018 (8) TMI 903
CENVAT Credit - manufacture of taxable as well as exempt goods - non maintenance of separate records - whether the appellant was required to pay 6% of amount of value of exempted goods cleared by them as they did not maintain separate record for input services? - Held that - Admittedly the Appellant have not maintained the separate accounts. But Rule 6(3) of Cenvat Credit Rules, 2004 permits the manufacturer or provider of output services, who op....... + More
2018 (8) TMI 902
Levy of service tax - outstanding advances along with interest - Consulting Engineer Services - Pure agent services - Held that - The respondent has provided only Consulting Engineer Services , on which they have discharged the service tax liability. - The work order issued by the Government Department is in the nature of cost plus contract, wherein the respondent has been appointed as the implementing agency on behalf of the Government Departmen....... + More
2018 (8) TMI 901
Levy of Service Tax - painting charges - Works Contract - case of appellant is that they are paying work contract tax to the state government; hence, the same activity cannot be subjected to another tax, namely, service tax - Held that - The Ld. Commissioner (Appeals) has taken the view that mere payment of work contract tax by itself will not lead to exemption from service tax. Further, it is not disputed that the said activity was in the nature....... + More
2018 (8) TMI 900
Banking and other Financial Services - appellant, is a banking company and a body corporate, conducting their operations in India - It was alleged that the services provided by the appellant to the RBI amounted to providing a taxable service under the Banking and other Financial Services which was taxable from 10.09.2004 - Held that - There is no ambiguity with reference to the Notification; therefore, the submission of the departmental represent....... + More
2018 (8) TMI 899
Commercial Training Centre - training to persons who aspire to take up employment in fire protection, lift technology and dental technology - non-payment of service tax on the amounts received by them from the persons undertaking training - demand for the period from 1.7.2004 to 9.9.2004 - Held that - If it was the intention of the government to exempt the activity during this period, it would have done so in an express manner, which is not the c....... + More
2018 (8) TMI 898
Classification of services - appellants were performing certain tasks in the factory of TATA mainly in processing of coffee beans - Department took the view that appellants were providing Manpower Recruitment or Supply Agency Service falling within the scope of Section 65 (68) of the Finance Act, 1994 and the taxable service thereof defined in Section 65 (105) (k) - time limitation. - Held that - In the facts of appeal at hand, it is clear from t....... + More
2018 (8) TMI 897
Extended period of limitation - Renting of Immovable Property Service - Held that - Hon ble High Court of Delhi in the case of Home Solutions Retails (India) Limited 2009 (4) TMI 14 - DELHI HIGH COURT held that renting of immovable property is not a taxable service, therefore, the extended period of limitation is not invokable in the facts and circumstances of the case. - The demand pertains to extended period of limitation is set-aside, conseque....... + More
2018 (8) TMI 890
Refund claim - deemed exports - goods supplied to Mega Power Project under International Competitive Bidding, which is deemed export in terms of Foreign Trade Policy - Rule 5 of Cenvat Credit Rules, 2004. - Whether the goods supplied to a Mega Power Project, treated as deemed export in terms of Foreign Trade Policy, are eligible for refund under the provisions of Rule 5 of Cenvat Credit Rules, 2004 for the period from March, 2015 to June, 2015? -....... + More
Search 
