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Home e-Newsletters Index Year 2017 December Day 7 - Thursday

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TMI Tax Updates - e-Newsletter
December 7, 2017

Case Laws in this Newsletter:

Income Tax Customs Insolvency & Bankruptcy PMLA Service Tax Central Excise CST, VAT & Sales Tax Wealth tax Indian Laws



Highlights / Catch Notes

  • Income Tax:

    Disallowance of expenditure of an amount paid as Tips & Baksis by the bank to casual workers on festive occasion - The disallowance arbitrarily unjustified. - AT

  • Income Tax:

    Nature of receipt from TIL - payment of reimbursements - Assessee was not the ultimate beneficiary of the sum in question nor did it render any service to TIL. There is no basis on which the AO came to the conclusion that the sum in question was FTS in the hands of the Assessee. - AT

  • Income Tax:

    Jurisdiction of Additional CIT - The Standing Counsel should understand that this Tribunal is not to decide the mercy petition but has to decide the issue before it in accordance with the settled judicial principles of law. The Tribunal is not to decide the issue on the basis of human and irrelevant consideration. - AT

  • Income Tax:

    Nature of receipt - Capital or revenue receipt - since the immovable property itself is capital in the hands of the assessee, therefore the right to 'more enjoyment' of this property should also be capital in nature - AT

  • Income Tax:

    Disallowance made u/s.54G - assessee can purchase machinery even after shifting and commissioning of business from the new premises - there can be time lag between shifting of unit and receipt of capital gains - exemption allowed. - AT

  • Customs:

    Classification of combine harvester parts - the goods are parts of harvester combine - The goods are classifiable under the heading which occurred last in numerical order among those which equally merit consideration - Chapter heading 84339000 is proper classification of the goods in question - AT

  • DGFT:

    New Appendices 5 E and 5 F under EPCG Scheme of FTP 2015-20 - reg. - Public Notice

  • Corporate Law:

    Relaxation of additional fees and extension of last date of filing of Form CRA-4 under the Companies Act, 2013 reg. - Circular

  • Corporate Law:

    Companies (Filing of Documents and Forms in Extensible Business Reporting Language), Second Amendment, Rules, 2017 (XBRL) - Notification

  • Service Tax:

    C&F Agency services - nature of various other host of services (additional services) - those activities are not such as may be linked with any of the activities required to be performed to treat the service as "clearing and forwarding" service. - HC

  • Central Excise:

    Procedure for manual disbursal of budgetary support under Goods and Service Tax Regime to the units located in States of Jammu & Kashmir, Uttarakhand, Himachal Pradesh and North East including Sikkim. -reg. - Circular

  • Central Excise:

    Valuation - inclusion of cost of bought out items - A machinery provision contained in Section 4 and that too the explanation contained therein by way of definition of transaction value can neither override the charging provision nor by reason thereof a goods which is not excisable would become an excisable one only because one is fitted into the other, unless the context otherwise requires. - AT

  • Central Excise:

    N/N. 3/2004-CE dated 8-1-2004 - the certificate was not issued in favor of appellant - On the perusal of the documents, we are satisfied that link between goods and the appellant and the goods meant for project is established, therefore appellant is entitle for the exemption N/N. 3/2004. - AT

  • Central Excise:

    CENVAT credit - capital goods - Bagassee Bailing Machine - said machine is used for bailing of baggase which partly used in the factory of the appellant as fuel therefore bailing machine is not used for exclusively in the manufacture of exempted goods, accordingly, Cenvat credit is admissible. - AT

  • Central Excise:

    Liability of duty on intermediate goods - job-work - it is not the case of the appellant that the Principal manufacturer paid duty at anytime as the goods manufactured by him were exempted from duty. Thus the liability for payment of duty on such intermediate goods manufactured by the Jobworker is on jobworker only. - AT

  • VAT:

    Exemption from CST - disallowance of export sales - there is no provision under the Act or Rules which mandates that the petitioner should produce a document showing realisation of export proceeds as a condition for claiming the exemption that is available for transactions which are in the nature of sale transaction in the course of export. - HC

  • VAT:

    Validity of assessment order - period of limitation - Limitation being a mixed question of law and fact, has to be necessarily raised by a party in order that the adjudicating authority applies its mind and renders a finding thereon. The petitioner has not offered any semblance of explanation as to why and for what reason it has failed to raise the issue of limitation - HC


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • Income Tax

  • 2017 (12) TMI 308
  • 2017 (12) TMI 307
  • 2017 (12) TMI 306
  • 2017 (12) TMI 311
  • 2017 (12) TMI 305
  • 2017 (12) TMI 304
  • 2017 (12) TMI 303
  • 2017 (12) TMI 302
  • 2017 (12) TMI 301
  • 2017 (12) TMI 300
  • 2017 (12) TMI 299
  • 2017 (12) TMI 298
  • 2017 (12) TMI 297
  • 2017 (12) TMI 310
  • 2017 (12) TMI 296
  • 2017 (12) TMI 309
  • 2017 (12) TMI 295
  • 2017 (12) TMI 294
  • Customs

  • 2017 (12) TMI 292
  • 2017 (12) TMI 291
  • Insolvency & Bankruptcy

  • 2017 (12) TMI 290
  • PMLA

  • 2017 (12) TMI 289
  • Service Tax

  • 2017 (12) TMI 286
  • 2017 (12) TMI 285
  • 2017 (12) TMI 284
  • Central Excise

  • 2017 (12) TMI 283
  • 2017 (12) TMI 282
  • 2017 (12) TMI 266
  • 2017 (12) TMI 281
  • 2017 (12) TMI 265
  • 2017 (12) TMI 280
  • 2017 (12) TMI 279
  • 2017 (12) TMI 278
  • 2017 (12) TMI 277
  • 2017 (12) TMI 276
  • 2017 (12) TMI 275
  • 2017 (12) TMI 274
  • 2017 (12) TMI 273
  • 2017 (12) TMI 272
  • 2017 (12) TMI 271
  • 2017 (12) TMI 270
  • 2017 (12) TMI 269
  • 2017 (12) TMI 268
  • 2017 (12) TMI 267
  • CST, VAT & Sales Tax

  • 2017 (12) TMI 264
  • 2017 (12) TMI 263
  • Wealth tax

  • 2017 (12) TMI 262
  • Indian Laws

  • 2017 (12) TMI 288
  • 2017 (12) TMI 287
 

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