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Home Newsletters Index Year 2018 February Day 16 - Friday
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TMI Updates - Newsletter dated: February 16, 2018

TMI SMS


Highlights

  1. Income Tax : Determination of residential status - the assessee has to prove through cogent evidences such as passport to prove her stay outside India for stipulated period as per conditions stipulated u/s 6 of the 1961 Act. - Tri

  2. Income Tax : Once the Assessing Officer has taken the step of initiating penalty under section 271AAA of the Act in respect of additional income offered consequent to search, then the Assessing Officer or any of the authorities below are precluded by provisions of the Act itself to initiate any action for levy of penalty under section 271(1)(c) of the Act. - Tri

  3. Income Tax : Validity of reopening of assessment - addition u/s 69C - bogus purchases - M/s. JPK Trading Pvt. Ltd had never sold any goods and were only issuing bogus sales invoices and charged commission. Thus AO was justified in reopening the case of the appellant for the year under consideration u/s 147 of the Act - Tri

  4. Income Tax : Income accrued in India - Referral fees - considering that the referral activity was undertaken outside India and assessee’s Mumbai branch (PE) had no role to play in the performance of the referral activity, the referral fee of ₹ 18,27,90,578/- earned by CSDB could not be construed to be attributable to assessee’s PE in India - No Tax liability in India - Tri

  5. Income Tax : TDS u/s 195 - payment made to non-residents towards the services rendered by them - non deduction of tds - the non-resident commission agents had rendered services outside India and they were not having P E in India - No TDS liability - Tri

  6. Income Tax : Penalty u/s 271(1)(c) - merely for the reason that the said expenditure was claimed as a revenue expenditure would not justify imposition of penalty under Sec. 271(1)(c), for the reason that the same was held by the A.O to be in the nature as that of a capital expenditure - Tri

  7. Customs : Classification of the imported goods - Insoluble Sulphur - presence of 20% oil as found during testing of the sample of the imported goods - classification of the goods ordered under CTH 2503 0010 - Tri

  8. Indian Laws : Appeal against Chartered Accountants Final Examination result - Merely because the alleged notification contains the term "published for general information" cannot lead to the conclusion that the said notification was actually published especially in view of the categoric statement by the respondent-institute that the said alleged notification was never published in any manner - HC

  9. Insolvency and Bankruptcy : Corporate insolvency procedure - guarantee has not been invoked - guarantor cannot be deemed to be a defaulter, therefore, his case is not covered under clauses (c) and (h) of section 29A of the amended I.B. Code. Disqualifying the entire class of guarantors under clause (h) of section 29A would be discriminatory. - Tri

  10. Service Tax : Refund claim - time limit - In respect of export of services, the relevant date for purposes of deciding the time limit for consideration of refund claims under Rule 5 of the CCR may be taken as the end of the quarter in which the FIRC is received, in cases where the refund claims are filed on a quarterly basis. - Tri

  11. Service Tax : Valuation - includibility - the inclusion of costs and expenditures in the gross taxable value by making provision in the Rules is repugnant to Section 66 and 77 of the Finance Act and to that extent is ultra vires. - Tri

  12. Service Tax : Banking and Financial Service - admittedly there is no transfer of the ownership of the goods at the end of lease, the same does not fall in the category of financial lease and falls in the category of operating lease - demand not sustainable - Tri

  13. Service Tax : Refund of unutilized CENVAT credit - at the time of availment of cenvat credit it was not disputed by the Revenue that these services are not ‘input services’. In the circumstances, at the time of claiming the refund claim, cenvat credit cannot be denied - Tri

  14. Central Excise : SSI exemption - calculation of aggregate value - various food preparations made and sold by the appellants in their kitchen/restaurants are generally covered by the Chapters 16 to 20 will not meet the legal requirement of applying the provisions of Notification 8/2003. - Tri

  15. Central Excise : CENVAT credit - Education cess and Higher education cess paid on CVD - If the 3rd education cess is considered as a levy on total excise duty, the obvious conclusion would be that the credit also admissible - the credit availed on the education cess paid for the third time by the appellants on the CVD portion is eligible. - Tri

  16. Central Excise : Classification of goods - PVC/ HDPE Pipes, HDPE Sprinkler - these pipes which were manufactured and cleared by them are intended for irrigational purpose in agriculture/ horticulture - the classification of the product under Chapter 39 is not sustainable - Tri

  17. Central Excise : CENVAT credit - marine insurance service - insurance for directors and supervisory officers arising in day-to-day functioning - credit allowed - Tri

  18. Central Excise : CENVAT credit - demerger - the transferor will be allowed to transfer the Cenvat credit lying unutilized to the transferee company - Tri

  19. Central Excise : CENVAT credit - utilization of ‘security service’ for the hostel maintained at their factory at a remote location - In order to run the factories smoothly, without any stoppages, they had constructed township/residential colonies near factory premises and accommodated the employees working in such factories - CENVAT credit is maintainable - Tri


Articles


Notifications


Circulars / Instructions / Orders


News - Feeds


Case Laws:

More information of case laws are visible to the Subscriber of a package i.e:-
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  1. 2018 (2) TMI 983

    In: GST


  2. 2018 (2) TMI 961

    In: Customs


  3. 2018 (2) TMI 960

    In: Customs


  4. 2018 (2) TMI 959

    In: Customs


  5. 2018 (2) TMI 958

    In: Customs


  6. 2018 (2) TMI 957

    In: Customs


  7. 2018 (2) TMI 956

    In: Customs


  8. 2018 (2) TMI 955

    In: Customs


  9. 2018 (2) TMI 954

    In: Customs


  10. 2018 (2) TMI 953

    In: Customs


  11. 2018 (2) TMI 952

    In: Customs


  12. 2018 (2) TMI 951

    In: Customs


  13. 2018 (2) TMI 949

    In: Customs


  14. 2018 (2) TMI 948

    In: Customs


  15. 2018 (2) TMI 978

    In: Income Tax


  16. 2018 (2) TMI 977

    In: Income Tax


  17. 2018 (2) TMI 976

    In: Income Tax


  18. 2018 (2) TMI 982

    In: Income Tax


  19. 2018 (2) TMI 981

    In: Income Tax


  20. 2018 (2) TMI 975

    In: Income Tax


  21. 2018 (2) TMI 974

    In: Income Tax


  22. 2018 (2) TMI 973

    In: Income Tax


  23. 2018 (2) TMI 972

    In: Income Tax


  24. 2018 (2) TMI 971

    In: Income Tax


  25. 2018 (2) TMI 970

    In: Income Tax


  26. 2018 (2) TMI 969

    In: Income Tax


  27. 2018 (2) TMI 968

    In: Income Tax


  28. 2018 (2) TMI 967

    In: Income Tax


  29. 2018 (2) TMI 966

    In: Income Tax


  30. 2018 (2) TMI 965

    In: Income Tax


  31. 2018 (2) TMI 964

    In: Income Tax


  32. 2018 (2) TMI 963

    In: Income Tax


  33. 2018 (2) TMI 980

    In: Income Tax


  34. 2018 (2) TMI 979

    In: Income Tax


  35. 2018 (2) TMI 962

    In: Income Tax


  36. 2018 (2) TMI 986

    In: Insolvency & Bankruptcy


  37. 2018 (2) TMI 985

    In: Insolvency & Bankruptcy


  38. 2018 (2) TMI 984

    In: Insolvency & Bankruptcy


  39. 2018 (2) TMI 947

    In: Indian Laws


  40. 2018 (2) TMI 946

    In: Service Tax


  41. 2018 (2) TMI 945

    In: Service Tax


  42. 2018 (2) TMI 944

    In: Service Tax


  43. 2018 (2) TMI 943

    In: Service Tax


  44. 2018 (2) TMI 942

    In: Service Tax


  45. 2018 (2) TMI 941

    In: Service Tax


  46. 2018 (2) TMI 940

    In: Service Tax


  47. 2018 (2) TMI 939

    In: Service Tax


  48. 2018 (2) TMI 938

    In: Service Tax


  49. 2018 (2) TMI 937

    In: Service Tax


  50. 2018 (2) TMI 936

    In: Service Tax


  51. 2018 (2) TMI 935

    In: Service Tax


  52. 2018 (2) TMI 934

    In: Service Tax


  53. 2018 (2) TMI 933

    In: Service Tax


  54. 2018 (2) TMI 932

    In: Service Tax


  55. 2018 (2) TMI 931

    In: Service Tax


  56. 2018 (2) TMI 930

    In: Service Tax


  57. 2018 (2) TMI 929

    In: Service Tax


  58. 2018 (2) TMI 928

    In: Service Tax


  59. 2018 (2) TMI 927

    In: Service Tax


  60. 2018 (2) TMI 926

    In: Service Tax


  61. 2018 (2) TMI 925

    In: Service Tax


  62. 2018 (2) TMI 950

    In: Service Tax


  63. 2018 (2) TMI 924

    In: Service Tax


  64. 2018 (2) TMI 922

    In: Service Tax


  65. 2018 (2) TMI 923

    In: Service Tax


  66. 2018 (2) TMI 919

    In: Central Excise


  67. 2018 (2) TMI 918

    In: Central Excise


  68. 2018 (2) TMI 921

    In: Central Excise


  69. 2018 (2) TMI 917

    In: Central Excise


  70. 2018 (2) TMI 916

    In: Central Excise


  71. 2018 (2) TMI 920

    In: Central Excise


  72. 2018 (2) TMI 915

    In: Central Excise


  73. 2018 (2) TMI 914

    In: Central Excise


  74. 2018 (2) TMI 913

    In: Central Excise


  75. 2018 (2) TMI 912

    In: Central Excise


  76. 2018 (2) TMI 911

    In: Central Excise


  77. 2018 (2) TMI 910

    In: Central Excise


  78. 2018 (2) TMI 909

    In: Central Excise


  79. 2018 (2) TMI 908

    In: Central Excise


  80. 2018 (2) TMI 907

    In: Central Excise


  81. 2018 (2) TMI 906

    In: Central Excise


  82. 2018 (2) TMI 905

    In: Central Excise


  83. 2018 (2) TMI 904

    In: Central Excise


  84. 2018 (2) TMI 903

    In: Central Excise


  85. 2018 (2) TMI 902

    In: Central Excise


  86. 2018 (2) TMI 901

    In: Central Excise


  87. 2018 (2) TMI 900

    In: Central Excise


  88. 2018 (2) TMI 899

    In: Central Excise


  89. 2018 (2) TMI 898

    In: Central Excise


  90. 2018 (2) TMI 897

    In: Central Excise


  91. 2018 (2) TMI 896

    In: Central Excise


  92. 2018 (2) TMI 895

    In: Central Excise


  93. 2018 (2) TMI 894

    In: Central Excise


  94. 2018 (2) TMI 893

    In: Central Excise


  95. 2018 (2) TMI 892

    In: Central Excise


  96. 2018 (2) TMI 891

    In: Central Excise


  97. 2018 (2) TMI 890

    In: Central Excise


  98. 2018 (2) TMI 889

    In: Central Excise


  99. 2018 (2) TMI 888

    In: Central Excise


  100. 2018 (2) TMI 887

    In: Central Excise


  101. 2018 (2) TMI 886

    In: VAT and Sales Tax


 
 
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