Tax Management India. Com
                            Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Manuals SMS News Articles Highlights
        Home        
 
Tax Updates - TMI Newsletters
Home Newsletters Index Year 2018 February Day 15 - Thursday
Older Newer

 

TMI Updates - Newsletter dated: February 15, 2018

Highlights

  1. Income Tax : Reopening of the assessment - sanction u/s 151 - When the Revenue Department is manned by highly qualified officers they are to evolve legally sustainable standard operating procedure for discharging quasijudicial function. - Tri

  2. Income Tax : AO was not competent and did not possess the jurisdiction to resolve / decide the issue as to whether the assessee was a 'Primary Agricultural Credit Society' or a 'Co-operative bank', within the meaning assigned to it under the provisions of the Banking Regulation Act and to take a contrary view especially in view of the Explanation provided after the clause (ccvi) of section 5 r.w.s Section 56 of the Banking Regulation Act. - Tri

  3. Income Tax : Benefit of exemption u/s. 11 - The receipts from BCCI are not in the nature of trade, business or commerce and consequently the proviso to section 2(15) of the Act was not applicable - assessee is entitled for exemption u/s 11 and 12 - Tri

  4. Income Tax : Transfer pricing - the transaction in the instant case of sale of shares in ‘AB’ International will have to be benchmarked as per the transfer pricing provisions contained in Chapter X of the Act. Thus transfer pricing provisions contained in sections 92 to 92F of the Act would apply to the proposed transaction. - AAR

  5. Customs : Drawback u/s 75 of the CA 1962 - exporter is entitled to claim that the whole of the copper content in its manufactured product should be treated as “deemed to be imported material”, for the purpose of sub-section (1) of Section 75 - Availing of the Cenvat credit also does not disentitle the respondent from claiming the above benefit - HC

  6. Customs : Classification of import goods - The AEPC has declared the imported bales as fabrics and not as “quilt covers” as there was no individual weight and/or length - imported items cannot be covered as “quilt covers” as there was no reference to composition, nature, structure to be identified as „quilt cover‟. - Tri

  7. Service Tax : Renting to Immovable Property Service - parking facility - the owners of the shop/ and their employees are availing the parking facility for which monthly consideration is collected by the appellant along with the rent payable for the said shops and premises - the consideration attributable to such income is liable to be taxed. - Tri

  8. Service Tax : The existence of clause in the contract to the effect that it will include Service Tax by itself will not give any inference that such Service Tax has been collected from the client. The checklist for RA bills makes it clear that the recipient is also not recognizing any payment in any manner which can be attributed Service Tax - the demand in terms of Section 73A (2) will not survive. - Tri

  9. Service Tax : Validity of SCN - appellant has provided this service to the third parties on behalf of the main consultant - the services provided by the appellant should merit classification under “Business Auxiliary Service” - cannot taxed under “Management Consultancy Service” - Demand cannot sustain on the ground of wrong classification of the service - Tri

  10. Service Tax : Levy of service tax - Authorized Learning Centre (LCs) - The University is recognized by the Statute as well as by the UGC, DEC & AICTE. When, it is so, then the LCs have no control over the fee which is directly collected by the University who later shared with LCs. - Demand of service tax set aside - Tri

  11. Service Tax : Commercial or Industrial Construction Service - the building is a Government building which is used for creating a facility of training, testing etc. for industrial units, in consonance with the Board circular, the building cannot be said to be a commercial building. - Tri

  12. Central Excise : SSI Exemption - use of Brand name - The markings are by compulsion of law only in order that Governmental authorities involved in the PDS may identify and segregate the aforesaid jute bags. This being the case, it is obvious that there is no “brand name” involved in the facts of the present cases. - SC

  13. Central Excise : CENVAT credit - supplementary invoices - The appellant is paying service tax on reverse charge basis in terms of Rule 2(1)(d) of Service Tax Rules, 1994 and therefore credit can be availed in terms of Rule 9(i)(e) of CCR - Tri

  14. Central Excise : Area Based Exemption - Benefit of N/N. 50/03-CE - The appellant has started three different units on the same plot of land and having separate plant and machinery, separate, inputs, manpower, finances and are manufacturing different products, therefore, all the three units cannot be considered as one unit. - Tri

  15. Central Excise : CENVAT credit - storage and warehousing services abroad, rendered to the appellant for storing the finished goods abroad - whether the appellant herein is eligible to avail CENVAT credit of service tax paid on warehousing services performed outside the country (post export services)? - Held Yes - Tri

  16. Central Excise : Classification of goods - carpets/floor coverings - car mats, made up of felt - predominance test - whether classified under Chapter Sub-heading No.5703.20 of the CETA or under under Chapter Sub-heading No.5703.90? - the mere fact that the surface of the carpet is polypropylene fibre, it does not cease to be jute carpets. - Tri


Articles


Notifications


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 854

    In: Customs


  2. 2018 (2) TMI 851

    In: Customs


  3. 2018 (2) TMI 853

    In: Customs


  4. 2018 (2) TMI 850

    In: Customs


  5. 2018 (2) TMI 849

    In: Customs


  6. 2018 (2) TMI 848

    In: Customs


  7. 2018 (2) TMI 852

    In: Customs


  8. 2018 (2) TMI 875

    In: Income Tax


  9. 2018 (2) TMI 874

    In: Income Tax


  10. 2018 (2) TMI 873

    In: Income Tax


  11. 2018 (2) TMI 872

    In: Income Tax


  12. 2018 (2) TMI 871

    In: Income Tax


  13. 2018 (2) TMI 870

    In: Income Tax


  14. 2018 (2) TMI 869

    In: Income Tax


  15. 2018 (2) TMI 868

    In: Income Tax


  16. 2018 (2) TMI 883

    In: Income Tax


  17. 2018 (2) TMI 882

    In: Income Tax


  18. 2018 (2) TMI 881

    In: Income Tax


  19. 2018 (2) TMI 880

    In: Income Tax


  20. 2018 (2) TMI 867

    In: Income Tax


  21. 2018 (2) TMI 866

    In: Income Tax


  22. 2018 (2) TMI 865

    In: Income Tax


  23. 2018 (2) TMI 864

    In: Income Tax


  24. 2018 (2) TMI 863

    In: Income Tax


  25. 2018 (2) TMI 879

    In: Income Tax


  26. 2018 (2) TMI 862

    In: Income Tax


  27. 2018 (2) TMI 878

    In: Income Tax


  28. 2018 (2) TMI 861

    In: Income Tax


  29. 2018 (2) TMI 877

    In: Income Tax


  30. 2018 (2) TMI 876

    In: Income Tax


  31. 2018 (2) TMI 860

    In: Income Tax


  32. 2018 (2) TMI 859

    In: Income Tax


  33. 2018 (2) TMI 858

    In: Income Tax


  34. 2018 (2) TMI 857

    In: Income Tax


  35. 2018 (2) TMI 856

    In: Income Tax


  36. 2018 (2) TMI 855

    In: Income Tax


  37. 2018 (2) TMI 847

    In: Corporate Laws


  38. 2018 (2) TMI 885

    In: Insolvency & Bankruptcy


  39. 2018 (2) TMI 884

    In: Insolvency & Bankruptcy


  40. 2018 (2) TMI 846

    In: Indian Laws


  41. 2018 (2) TMI 823

    In: Indian Laws


  42. 2018 (2) TMI 844

    In: Service Tax


  43. 2018 (2) TMI 843

    In: Service Tax


  44. 2018 (2) TMI 842

    In: Service Tax


  45. 2018 (2) TMI 841

    In: Service Tax


  46. 2018 (2) TMI 811

    In: Service Tax


  47. 2018 (2) TMI 845

    In: Service Tax


  48. 2018 (2) TMI 840

    In: Service Tax


  49. 2018 (2) TMI 839

    In: Service Tax


  50. 2018 (2) TMI 838

    In: Service Tax


  51. 2018 (2) TMI 837

    In: Service Tax


  52. 2018 (2) TMI 836

    In: Service Tax


  53. 2018 (2) TMI 835

    In: Service Tax


  54. 2018 (2) TMI 788

    In: Service Tax


  55. 2018 (2) TMI 834

    In: Service Tax


  56. 2018 (2) TMI 833

    In: Service Tax


  57. 2018 (2) TMI 832

    In: Service Tax


  58. 2018 (2) TMI 831

    In: Service Tax


  59. 2018 (2) TMI 830

    In: Service Tax


  60. 2018 (2) TMI 829

    In: Service Tax


  61. 2018 (2) TMI 828

    In: Service Tax


  62. 2018 (2) TMI 827

    In: Service Tax


  63. 2018 (2) TMI 826

    In: Service Tax


  64. 2018 (2) TMI 825

    In: Central Excise


  65. 2018 (2) TMI 824

    In: Central Excise


  66. 2018 (2) TMI 813

    In: Central Excise


  67. 2018 (2) TMI 812

    In: Central Excise


  68. 2018 (2) TMI 822

    In: Central Excise


  69. 2018 (2) TMI 810

    In: Central Excise


  70. 2018 (2) TMI 821

    In: Central Excise


  71. 2018 (2) TMI 820

    In: Central Excise


  72. 2018 (2) TMI 809

    In: Central Excise


  73. 2018 (2) TMI 808

    In: Central Excise


  74. 2018 (2) TMI 807

    In: Central Excise


  75. 2018 (2) TMI 806

    In: Central Excise


  76. 2018 (2) TMI 805

    In: Central Excise


  77. 2018 (2) TMI 804

    In: Central Excise


  78. 2018 (2) TMI 803

    In: Central Excise


  79. 2018 (2) TMI 802

    In: Central Excise


  80. 2018 (2) TMI 801

    In: Central Excise


  81. 2018 (2) TMI 800

    In: Central Excise


  82. 2018 (2) TMI 799

    In: Central Excise


  83. 2018 (2) TMI 798

    In: Central Excise


  84. 2018 (2) TMI 797

    In: Central Excise


  85. 2018 (2) TMI 796

    In: Central Excise


  86. 2018 (2) TMI 795

    In: Central Excise


  87. 2018 (2) TMI 794

    In: Central Excise


  88. 2018 (2) TMI 793

    In: Central Excise


  89. 2018 (2) TMI 792

    In: Central Excise


  90. 2018 (2) TMI 791

    In: Central Excise


  91. 2018 (2) TMI 790

    In: Central Excise


  92. 2018 (2) TMI 789

    In: Central Excise


  93. 2018 (2) TMI 787

    In: Central Excise


  94. 2018 (2) TMI 786

    In: Central Excise


  95. 2018 (2) TMI 785

    In: Central Excise


  96. 2018 (2) TMI 819

    In: Central Excise


  97. 2018 (2) TMI 784

    In: Central Excise


  98. 2018 (2) TMI 783

    In: Central Excise


  99. 2018 (2) TMI 782

    In: Central Excise


  100. 2018 (2) TMI 781

    In: Central Excise


  101. 2018 (2) TMI 780

    In: Central Excise


  102. 2018 (2) TMI 779

    In: Central Excise


  103. 2018 (2) TMI 778

    In: Central Excise


  104. 2018 (2) TMI 777

    In: Central Excise


  105. 2018 (2) TMI 776

    In: Central Excise


  106. 2018 (2) TMI 775

    In: Central Excise


  107. 2018 (2) TMI 818

    In: Central Excise


  108. 2018 (2) TMI 817

    In: Central Excise


  109. 2018 (2) TMI 816

    In: Central Excise


  110. 2018 (2) TMI 815

    In: Central Excise


  111. 2018 (2) TMI 814

    In: Central Excise


  112. 2018 (2) TMI 774

    In: Central Excise


  113. 2018 (2) TMI 773

    In: VAT and Sales Tax


  114. 2018 (2) TMI 772

    In: VAT and Sales Tax


 
 
Discussion Forum
what is new what is new
 


|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.