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Tax Updates - TMI Newsletters
Home Newsletters Index Year 2018 January Day 31 - Wednesday
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TMI Updates - Newsletter dated: January 31, 2018

TMI SMS


Highlights

  1. Income Tax : Application for registration u/s 12AA - with regard to the condition that the assessee should apply its income only in India, such a condition is existing only u/s 11 and the AO is required to consider the application of income while allowing the exemption u/s 11 - registration cannot be denied - Tri

  2. Income Tax : Co-operative bank is also a banking company; not liable to pay tax on NPA interest on accrual basis in view of RBI norms relating to income recognition and assets classification. - Tri

  3. Income Tax : Credit of TDS - it may not always be possible all the time to co-relate a specific amount of TDS with a specific amount of income earned - The claim of the assessee is allowed in as much as it is held that the assessee would be entitled to credit of the entire TDS offered as income by the assessee in his return of income. - Tri

  4. FEMA : Contravention of section 3 FEMA - A statement made under oath has to be taken as true, unless there is contra evidence to dispel that presumption. Mere retraction of a statement made under oath cannot help the appellant to get relief from the consequences of violations of an act. - Tri

  5. Service Tax : Attachment of immovable property - recovery of service tax was not done - the personal property of a sole proprietor or partners shall not be attached, and personal property means any movable property or immovable property, which is in personal use of the sole proprietor or partner. - HC

  6. Service Tax : Liability of service tax - consideration received due to termination of the arrangement - by terminating the arrangement, the appellants are adversely put to certain business loss. The consideration has been paid for such loss. No identifiable service could be attributed for such payment during the material time - tax liability cannot sustain. - Tri

  7. Service Tax : Manpower recruitment and supply agency service - deputation of employees - the definition is wide and would include any such activity where it is carried out either directly or indirectly supplying recruitment or manpower temporarily or otherwise - such conditions are not satisfied - activity not taxable - Tri

  8. Service Tax : CENVAT credit while availing the benefit of Abatement notification - The N/N. 1/2006-ST does not say that assessee cannot avail any credit at all. The condition is that the abatement would be available only if input service credit is not availed on input services used for providing such services specified in column 2 of the notification - Tri

  9. Service Tax : Reverse Charge Mechanism (RCM) - services of Underwriters received from outside India - ADS offering is not applicable for sale in India, but only to other select jurisdictions like the United States of America, Canada, Japan etc. - the impugned services availed of by the appellant not having been performed partly or wholly in India - Services are not taxable - Tri

  10. Central Excise : CENVAT credit - input service - it is meant to enhance the sale of the manufactured goods of the Respondent through attracting customers by providing financial option to the respective customers and for the said purposes, they had approached the financial companies since they do not have such in-house finance facility - Tri


Articles


Circulars / Instructions / Orders


News - Feeds


Case Laws:

More information of case laws are visible to the Subscriber of a package i.e:-
Party Name, Court Name, Date of Decision, Full Text of Headnote, Decision etc.


  1. 2018 (1) TMI 1245

    In: GST


  2. 2018 (1) TMI 1225

    In: Customs


  3. 2018 (1) TMI 1224

    In: Customs


  4. 2018 (1) TMI 1236

    In: Income Tax


  5. 2018 (1) TMI 1237

    In: Income Tax


  6. 2018 (1) TMI 1238

    In: Income Tax


  7. 2018 (1) TMI 1239

    In: Income Tax


  8. 2018 (1) TMI 1240

    In: Income Tax


  9. 2018 (1) TMI 1241

    In: Income Tax


  10. 2018 (1) TMI 1233

    In: Income Tax


  11. 2018 (1) TMI 1234

    In: Income Tax


  12. 2018 (1) TMI 1235

    In: Income Tax


  13. 2018 (1) TMI 1243

    In: Income Tax


  14. 2018 (1) TMI 1244

    In: Income Tax


  15. 2018 (1) TMI 1227

    In: Income Tax


  16. 2018 (1) TMI 1228

    In: Income Tax


  17. 2018 (1) TMI 1229

    In: Income Tax


  18. 2018 (1) TMI 1230

    In: Income Tax


  19. 2018 (1) TMI 1231

    In: Income Tax


  20. 2018 (1) TMI 1232

    In: Income Tax


  21. 2018 (1) TMI 1226

    In: Income Tax


  22. 2018 (1) TMI 1242

    In: Income Tax


  23. 2018 (1) TMI 1222

    In: FEMA


  24. 2018 (1) TMI 1223

    In: Corporate Laws


  25. 2018 (1) TMI 1249

    In: Insolvency & Bankruptcy


  26. 2018 (1) TMI 1248

    In: Insolvency & Bankruptcy


  27. 2018 (1) TMI 1247

    In: Insolvency & Bankruptcy


  28. 2018 (1) TMI 1246

    In: Insolvency & Bankruptcy


  29. 2018 (1) TMI 1221

    In: Indian Laws


  30. 2018 (1) TMI 1219

    In: Service Tax


  31. 2018 (1) TMI 1218

    In: Service Tax


  32. 2018 (1) TMI 1217

    In: Service Tax


  33. 2018 (1) TMI 1205

    In: Service Tax


  34. 2018 (1) TMI 1220

    In: Service Tax


  35. 2018 (1) TMI 1216

    In: Service Tax


  36. 2018 (1) TMI 1215

    In: Service Tax


  37. 2018 (1) TMI 1214

    In: Service Tax


  38. 2018 (1) TMI 1213

    In: Service Tax


  39. 2018 (1) TMI 1209

    In: Central Excise


  40. 2018 (1) TMI 1206

    In: Central Excise


  41. 2018 (1) TMI 1207

    In: Central Excise


  42. 2018 (1) TMI 1208

    In: Central Excise


  43. 2018 (1) TMI 1204

    In: Central Excise


  44. 2018 (1) TMI 1203

    In: Central Excise


  45. 2018 (1) TMI 1202

    In: Central Excise


  46. 2018 (1) TMI 1212

    In: Central Excise


  47. 2018 (1) TMI 1200

    In: Central Excise


  48. 2018 (1) TMI 1201

    In: Central Excise


  49. 2018 (1) TMI 1199

    In: Central Excise


  50. 2018 (1) TMI 1198

    In: Central Excise


  51. 2018 (1) TMI 1197

    In: Central Excise


  52. 2018 (1) TMI 1211

    In: Central Excise


  53. 2018 (1) TMI 1210

    In: Central Excise


  54. 2018 (1) TMI 1196

    In: VAT and Sales Tax


  55. 2018 (1) TMI 1195

    In: VAT and Sales Tax


  56. 2018 (1) TMI 1194

    In: VAT and Sales Tax


 
 
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