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Home e-Newsletters Index Year 2017 December Day 11 - Monday

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TMI Tax Updates - e-Newsletter
December 11, 2017

Case Laws in this Newsletter:

Income Tax Customs Corporate Laws Insolvency & Bankruptcy Service Tax Central Excise



Highlights / Catch Notes

  • Income Tax:

    TDS u/s 195 - merely because an entry is made in the books of accounts does not mean that the nonresident received any payment in India. Since no part of the income could be deemed to have accrued to the non-resident in India, there was no obligation to deduct TDS from the payment made to such non-resident - HC

  • Income Tax:

    Corporate/bank guarantee recharge - nature of receipt - India U.K. DTAA - this payment does not fall within the expression of interest and in view of Clause 3 of Article 23 of the Treaty, in the absence of any specific provision dealing with corporate/bank guarantee recharge, the same has to be taxed in India as per the provisions of the Income tax Act, 1961 - AT

  • Income Tax:

    The limitation for revising of the order u/s 263 would start from the order passed u/s 143(3) read with section 148 of the Act but not from the date when the original assessment order was passed u/s 143(3) - AT

  • Income Tax:

    Accrual of income - mere filing of insurance claim did not give any right to the assessee to receive income as the claim was not accepted by the insurance company. Had there been any acceptance by the insurance company, then the income would have definitely accrued on the basis of the accounting entry. - AT

  • Income Tax:

    Accrual of income - real income - whether the rate of interest by the assessee on the ICD @ 7.5% p.a. could have been enhanced by the AO or not? - AO cannot step into the shoes of the businessman to hold that he should have maximum profit from the transaction - AT

  • Customs:

    Continuation of exemption under GST regime - continuation of exemption until the validity of registration granted to the petitioner’s R&D centre - exemption cannot be claimed as a matter of right - matter requires elucidation - HC

  • Customs:

    Classification of goods - unbranded Micro SD Cards - the appellant is not liable to pay the Basic Customs Duty on the imported goods, even under the classification made by the Department, which was different than the classification made by it. - AT

  • Service Tax:

    Photographic Service or not? - The appellants did supply a variety of equipments apart from Cameras, which has nothing to do directly, if used independently, with photography - the activity of supply of equipments which may be used in Photography Services by itself cannot be covered under Photography Services. - AT

  • Service Tax:

    Jurisdiction - power of Settlement Commission to reject an application - the argument that after crossing the stage of subsection 1 of section 32-F, the application cannot be rejected on the basis of the bar created by section 32-O, cannot be accepted at all. - HC


Articles


News


Case Laws:

  • Income Tax

  • 2017 (12) TMI 475
  • 2017 (12) TMI 474
  • 2017 (12) TMI 473
  • 2017 (12) TMI 472
  • 2017 (12) TMI 471
  • 2017 (12) TMI 470
  • 2017 (12) TMI 469
  • 2017 (12) TMI 468
  • 2017 (12) TMI 467
  • 2017 (12) TMI 466
  • 2017 (12) TMI 476
  • 2017 (12) TMI 465
  • 2017 (12) TMI 464
  • Customs

  • 2017 (12) TMI 463
  • 2017 (12) TMI 460
  • 2017 (12) TMI 459
  • 2017 (12) TMI 462
  • 2017 (12) TMI 458
  • 2017 (12) TMI 461
  • 2017 (12) TMI 457
  • 2017 (12) TMI 456
  • Corporate Laws

  • 2017 (12) TMI 455
  • 2017 (12) TMI 453
  • Insolvency & Bankruptcy

  • 2017 (12) TMI 454
  • Service Tax

  • 2017 (12) TMI 451
  • 2017 (12) TMI 450
  • 2017 (12) TMI 449
  • 2017 (12) TMI 452
  • 2017 (12) TMI 448
  • 2017 (12) TMI 447
  • 2017 (12) TMI 446
  • 2017 (12) TMI 445
  • Central Excise

  • 2017 (12) TMI 444
  • 2017 (12) TMI 443
  • 2017 (12) TMI 442
  • 2017 (12) TMI 441
  • 2017 (12) TMI 440
  • 2017 (12) TMI 439
  • 2017 (12) TMI 438
  • 2017 (12) TMI 437
  • 2017 (12) TMI 436
  • 2017 (12) TMI 435
  • 2017 (12) TMI 434
  • 2017 (12) TMI 433
  • 2017 (12) TMI 432
  • 2017 (12) TMI 431
  • 2017 (12) TMI 430
  • 2017 (12) TMI 429
  • 2017 (12) TMI 428
  • 2017 (12) TMI 427
 

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