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Home Newsletters Index Year 2018 February Day 14 - Wednesday
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TMI Updates - Newsletter dated: February 14, 2018

TMI SMS


Highlights

  1. GST : Levy IGST on ocean freight whereas the value of import goods includes Ocean Freight. - Vires of N/N. 8/2017-Integrated Tax [Rate] dated 28th June 2017 and Entry 10 of the N/N. 10/2017 - interim relief granted - HC

  2. Income Tax : Slump sale - transfer of Planet M. division in consideration of equity shares and 6% redeemable unsecured debentures - the provisions of section 50B are not applicable to this case as it is a case of slump exchange and not a slump sale - Tri

  3. Income Tax : Registration u/s 12A eligibility - charitable activities along with organizing of spiritual lectures, the assessee by no means ceases to be a religious institution - spreading spirituality was not considered to be a religious activity - Tri

  4. Income Tax : Power of CIT to cancel registration u/s 12A - power to cancel the registration was first conferred on the Commissioner w.e.f. 1.6.2010 - merely because the Commissioner had wrongly given effect to such cancellation w.e.f. A.Y. 2009-10, it did not vitiate the entire order. - HC

  5. Income Tax : Revision petition u/s 264 - amount taxed twice - The question of double taxation was very much appearing before the Assessing Officer during the assessment - AO is directed to modify the order of assessment - HC

  6. Income Tax : The activity performed by the assessee clearly appears to be inseparably linked to the 'charitable purpose' of providing mid-day meals at village schools - the restriction created by the first proviso to Section 2(15) did not operate against the assessee - HC

  7. Income Tax : Claim of expenses from Capital Gains - Words “wholly and exclusively” do not connote “necessarily”. - The words “in connection with” are of wide import and if such expenses have an intimate connection with the transfer, they have to be allowed u/s 48. - AAR

  8. Income Tax : Exemption u/s. 54B - LTCG from sale of agricultural land - One of the conditions for claiming deduction u/s. 54F is that claim should have been made in the return of income. Since no such claim was made by assessee in the return of income u/s. 139(1) or 139(5), therefore, the claim of the assessee cannot be entertained. - Tri

  9. Customs : Penalty u/s 114 (i) of the CA 1962 - shipping bill did not contain the signature of the exporter authorizing the export of the goods /reading books. It is very clear that there has been contravention of law of Customs Act by the appellant - penalty upheld - Tri

  10. Insolvency and Bankruptcy : Insolvency resolution process - The petitioner cannot be forced to buy goods from the respondent-corporate debtor and it has every right to claim the outstanding amount which is overdue. - The respondent cannot raise a voice to say that there was no term fixed for payment for the outstanding amount on the ground that the transactions between the parties continued in the normal course of business since 2012 - Tri

  11. Service Tax : Short payment of service tax - mere non mentioning of legal provision will not vitiate the proceedings when the gist of the provisions is available in the allegation and discussions recorded in the impugned order. - Tri

  12. Service Tax : Business Auxiliary Service - commission paid to foreign based commission agents, who were placing export order with them - the said SCN did not invoke provisions of Section 66A for demand of said service tax - SCN not valid - Tri

  13. Service Tax : The receipt of the Municipal Corporation i.e. appellant that the amount towards so called advertisement was collected as Jahirat Kar (Advertisement Tax) - the advertisement tax being statutory tax levy by the Municipal Corporation should not be liable to service tax. - Tri

  14. Central Excise : Transfer of accumulated CENVAT credit to other unit - if the said credit was available to the appellant prior to their registration, the fact of surrendering of licence should not be adopted and the appellant request to transfer the credit should not be denied on such hyper technical grounds. - Tri


Notifications


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 (2) TMI 770

    In: GST


  2. 2018 (2) TMI 766

    In: GST


  3. 2018 (2) TMI 760

    In: Customs


  4. 2018 (2) TMI 759

    In: Customs


  5. 2018 (2) TMI 703

    In: Customs


  6. 2018 (2) TMI 686

    In: Customs


  7. 2018 (2) TMI 682

    In: Customs


  8. 2018 (2) TMI 754

    In: Customs


  9. 2018 (2) TMI 753

    In: Customs


  10. 2018 (2) TMI 752

    In: Customs


  11. 2018 (2) TMI 751

    In: Customs


  12. 2018 (2) TMI 750

    In: Customs


  13. 2018 (2) TMI 749

    In: Customs


  14. 2018 (2) TMI 748

    In: Income Tax


  15. 2018 (2) TMI 745

    In: Income Tax


  16. 2018 (2) TMI 744

    In: Income Tax


  17. 2018 (2) TMI 743

    In: Income Tax


  18. 2018 (2) TMI 742

    In: Income Tax


  19. 2018 (2) TMI 769

    In: Income Tax


  20. 2018 (2) TMI 768

    In: Income Tax


  21. 2018 (2) TMI 741

    In: Income Tax


  22. 2018 (2) TMI 740

    In: Income Tax


  23. 2018 (2) TMI 739

    In: Income Tax


  24. 2018 (2) TMI 771

    In: Income Tax


  25. 2018 (2) TMI 738

    In: Income Tax


  26. 2018 (2) TMI 765

    In: Income Tax


  27. 2018 (2) TMI 764

    In: Income Tax


  28. 2018 (2) TMI 763

    In: Income Tax


  29. 2018 (2) TMI 737

    In: Income Tax


  30. 2018 (2) TMI 734

    In: Income Tax


  31. 2018 (2) TMI 735

    In: Income Tax


  32. 2018 (2) TMI 761

    In: Income Tax


  33. 2018 (2) TMI 732

    In: Income Tax


  34. 2018 (2) TMI 758

    In: Income Tax


  35. 2018 (2) TMI 730

    In: Income Tax


  36. 2018 (2) TMI 729

    In: Income Tax


  37. 2018 (2) TMI 714

    In: Income Tax


  38. 2018 (2) TMI 713

    In: Income Tax


  39. 2018 (2) TMI 756

    In: Income Tax


  40. 2018 (2) TMI 696

    In: Income Tax


  41. 2018 (2) TMI 694

    In: Income Tax


  42. 2018 (2) TMI 762

    In: FEMA


  43. 2018 (2) TMI 731

    In: Insolvency & Bankruptcy


  44. 2018 (2) TMI 692

    In: Insolvency & Bankruptcy


  45. 2018 (2) TMI 684

    In: Insolvency & Bankruptcy


  46. 2018 (2) TMI 747

    In: Service Tax


  47. 2018 (2) TMI 746

    In: Service Tax


  48. 2018 (2) TMI 733

    In: Service Tax


  49. 2018 (2) TMI 728

    In: Service Tax


  50. 2018 (2) TMI 725

    In: Service Tax


  51. 2018 (2) TMI 726

    In: Service Tax


  52. 2018 (2) TMI 719

    In: Service Tax


  53. 2018 (2) TMI 720

    In: Service Tax


  54. 2018 (2) TMI 722

    In: Service Tax


  55. 2018 (2) TMI 717

    In: Service Tax


  56. 2018 (2) TMI 689

    In: Service Tax


  57. 2018 (2) TMI 687

    In: Service Tax


  58. 2018 (2) TMI 685

    In: Service Tax


  59. 2018 (2) TMI 681

    In: Service Tax


  60. 2018 (2) TMI 680

    In: Service Tax


  61. 2018 (2) TMI 727

    In: Central Excise


  62. 2018 (2) TMI 724

    In: Central Excise


  63. 2018 (2) TMI 721

    In: Central Excise


  64. 2018 (2) TMI 723

    In: Central Excise


  65. 2018 (2) TMI 715

    In: Central Excise


  66. 2018 (2) TMI 716

    In: Central Excise


  67. 2018 (2) TMI 718

    In: Central Excise


  68. 2018 (2) TMI 705

    In: Central Excise


  69. 2018 (2) TMI 706

    In: Central Excise


  70. 2018 (2) TMI 707

    In: Central Excise


  71. 2018 (2) TMI 708

    In: Central Excise


  72. 2018 (2) TMI 709

    In: Central Excise


  73. 2018 (2) TMI 710

    In: Central Excise


  74. 2018 (2) TMI 711

    In: Central Excise


  75. 2018 (2) TMI 712

    In: Central Excise


  76. 2018 (2) TMI 704

    In: Central Excise


  77. 2018 (2) TMI 702

    In: Central Excise


  78. 2018 (2) TMI 697

    In: Central Excise


  79. 2018 (2) TMI 698

    In: Central Excise


  80. 2018 (2) TMI 699

    In: Central Excise


  81. 2018 (2) TMI 700

    In: Central Excise


  82. 2018 (2) TMI 701

    In: Central Excise


  83. 2018 (2) TMI 695

    In: Central Excise


  84. 2018 (2) TMI 693

    In: Central Excise


  85. 2018 (2) TMI 688

    In: Central Excise


  86. 2018 (2) TMI 690

    In: Central Excise


  87. 2018 (2) TMI 691

    In: Central Excise


  88. 2018 (2) TMI 683

    In: Central Excise


  89. 2018 (2) TMI 679

    In: Central Excise


  90. 2018 (2) TMI 678

    In: Central Excise


  91. 2018 (2) TMI 767

    In: VAT and Sales Tax


  92. 2018 (2) TMI 757

    In: VAT and Sales Tax


  93. 2018 (2) TMI 755

    In: VAT and Sales Tax


  94. 2018 (2) TMI 736

    In: Wealth tax


 
 
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