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Home e-Newsletters Index Year 2017 December Day 18 - Monday

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TMI Tax Updates - e-Newsletter
December 18, 2017

Case Laws in this Newsletter:

Income Tax Customs Service Tax Central Excise CST, VAT & Sales Tax Indian Laws



TMI SMS


Highlights / Catch Notes

  • GST:

    GST Council decides that Inter-State e-way Bill to be made compulsory from 1st of February, 2018

  • Income Tax:

    Nature of receipt under the subsidy scheme - Multiplex Theatre Complexes - exemption of entertainment duty - the receipt is in the nature of capital receive - not taxable - SC

  • Income Tax:

    Deemed dividend u/s 2(22)(e) - the finding that the company was recipient company could not be held to be public limited company on the basis that the assessee had 38.31% shares cannot be accepted. - HC

  • Income Tax:

    Transfer pricing adjustment - In the entire episode, there is no reference to the price paid by the comparables as a yardstick for comparing with the price paid by the assessee. The approach adopted by the TPO, as approved by the DRP, does not conform to the prescription of rule 10B(1)(a) - AT

  • Income Tax:

    The loss on account of share transactions is a capital loss. The loss arising from "investments" in shares cannot be claimed as bad debt under the provisions of section 36(i)(vii) r.w.s. 36(2)(i) - AT

  • Income Tax:

    Reference of matter to the Valuation Cell u/s 142A - There is no merit in the Department’s contention that the extant section 142A is applicable retrospectively. The section has specifically been made applicable, by the legislature itself, w.e.f. 1.10.2014 and so, it cannot be said to operate retrospectively. - AT

  • Income Tax:

    Penalty u/s 271(1)(c) - recording of satisfaction - AO was not clear at all as to the fact whether penalty was being levied on the concealment of income or furnishing of inaccurate particulars of income by the assessee - No penalty - AT

  • Income Tax:

    Disallowance on account of personal use of vehicle maintenance - 10% of vehicle running and maintenance expenses is a reasonable estimate and in absence of log book - AT

  • Income Tax:

    Addition on protective basis - when substantive addition qua the same amount has already been made in case of AHRPL, there is no question confirming the protective addition in case of ADIPL because one income cannot be taxed twice. - AT

  • Income Tax:

    Determining the MAT credit u/s 115JAA - Non granting credit for surcharge and cess while computing the tax credit u/s 115JAA - department cannot be unjustly enriched with the surcharge and cess portion of the amounts actually paid by the assessee - AT

  • Customs:

    Non-fulfillment of export obligations within time - even if it is assumed that the petitioner had made out a genuine case of hardship – which this Court finds that the petitioner has not – no extension beyond a period of six months for completion of the export obligation could be granted. - HC

  • Indian Laws:

    Original Jurisdiction of Apex Court - Original jurisdiction in this Court has to be vested in law. Unless it is so vested and the Court assumes, the court really scuttles the forum that has been provided by the legislature to a litigant.

  • Service Tax:

    Levy of service tax - security agency service - appellant are mainly involved in resettlement activities related to welfare of ex-servicement - There is no warrant for reading therein requirement of profit motive - the service rendered by appellant is liable to tax - AT

  • Central Excise:

    CENVAT credit - vehicles - the receipt of inputs has been denied only on the ground of the vehicles were not capable of transportation of goods - revenue failed to prove its case beyond doubt, demand set aside - AT


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • Income Tax

  • 2017 (12) TMI 809
  • 2017 (12) TMI 808
  • 2017 (12) TMI 807
  • 2017 (12) TMI 806
  • 2017 (12) TMI 805
  • 2017 (12) TMI 804
  • 2017 (12) TMI 803
  • 2017 (12) TMI 802
  • 2017 (12) TMI 801
  • 2017 (12) TMI 800
  • 2017 (12) TMI 799
  • 2017 (12) TMI 798
  • 2017 (12) TMI 797
  • 2017 (12) TMI 796
  • 2017 (12) TMI 795
  • 2017 (12) TMI 794
  • 2017 (12) TMI 816
  • 2017 (12) TMI 815
  • 2017 (12) TMI 793
  • 2017 (12) TMI 792
  • 2017 (12) TMI 814
  • 2017 (12) TMI 813
  • 2017 (12) TMI 791
  • 2017 (12) TMI 812
  • 2017 (12) TMI 811
  • 2017 (12) TMI 790
  • 2017 (12) TMI 789
  • 2017 (12) TMI 788
  • 2017 (12) TMI 787
  • 2017 (12) TMI 786
  • 2017 (12) TMI 810
  • 2017 (12) TMI 754
  • 2017 (12) TMI 785
  • 2017 (12) TMI 784
  • Customs

  • 2017 (12) TMI 783
  • 2017 (12) TMI 782
  • Service Tax

  • 2017 (12) TMI 774
  • 2017 (12) TMI 773
  • 2017 (12) TMI 775
  • 2017 (12) TMI 772
  • 2017 (12) TMI 771
  • 2017 (12) TMI 770
  • 2017 (12) TMI 769
  • 2017 (12) TMI 768
  • Central Excise

  • 2017 (12) TMI 766
  • 2017 (12) TMI 765
  • 2017 (12) TMI 764
  • 2017 (12) TMI 767
  • 2017 (12) TMI 763
  • 2017 (12) TMI 762
  • 2017 (12) TMI 761
  • 2017 (12) TMI 760
  • 2017 (12) TMI 759
  • 2017 (12) TMI 758
  • 2017 (12) TMI 757
  • 2017 (12) TMI 756
  • 2017 (12) TMI 753
  • 2017 (12) TMI 817
  • CST, VAT & Sales Tax

  • 2017 (12) TMI 755
  • Indian Laws

  • 2017 (12) TMI 781
  • 2017 (12) TMI 780
  • 2017 (12) TMI 779
  • 2017 (12) TMI 778
  • 2017 (12) TMI 777
  • 2017 (12) TMI 776
 

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