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Tax Updates - TMI Newsletters
Home Newsletters Index Year 2018 February Day 23 - Friday
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TMI Updates - Newsletter dated: February 23, 2018

Highlights

  1. Income Tax : Penalty u/s 271(1)(c) - voluntary surrender of income by assessee - The mere offer therefore, of the amount during the search in the absence of any explanation for the source of income, renders the assessee’s argument insubstantial in the totality of circumstances. - HC

  2. Income Tax : Reopening of assessment - allowability of interest income u/s 80IA - Once the Assessing Officer rejected the claim of deduction under Section 80IA [4] in its entirety, there was thereafter no occasion and any need for him to dissect such claim for rejection on some additional ground. - HC

  3. Income Tax : Receipt of amount without consideration - income from other sources u/s 56(2)(vi) - Amount received from employer’s various employee’s welfare trusts - when the income of all the aforesaid 12 discretionary trusts have been charged to tax, the same income cannot be taxed twice when fell into the hands of the assessee - Tri

  4. Income Tax : Registration u/s 12AA - proof of charitable activities - scope of primary objects - In case the assets are being parted with either individual entity or institution, who are not having charitable objects or registration u/s 12A, then under the scheme of the Act it will first suffer tax, only thereafter, it will vest in such individual or entity. This is not a valid reason for rejecting registration - Tri

  5. Income Tax : TDS u/s 194H - advertisement agencies - what is liable for TDS is commission of brokerage and not the incentives given on the basis of principal to principal relations - HC

  6. Income Tax : Validity of reopening assessment - unexplained investment - survey u/s 133A - the vague statements giving estimated details without supporting evidence would not help the case of the assessee - Tri

  7. Income Tax : The amount received by the assessee as full and final settlement on dissolution of firm could not give rise to any capital gain chargeable to tax as there was no transfer of any capital asset - Tri

  8. Income Tax : AO made the addition of commission expense paid to AEMS without confronting from assessee that no reply was received by him in response to the notice issued u/s 133(6) of the Act to AEMS - no addition can be made - Tri

  9. Customs : Seeks to impose anti-dumping duty on Ceramic Tableware and Kitchenware, excluding knives and toilet items, originating in or exported from China PR - Notification

  10. Companies Law : An independent director re-appointed for second term shall be removed by the company only by passing a special resolution and after giving him a reasonable opportunity of being heard

  11. Service Tax : Supply of DG sets on hire basis - this is the case of supply of tangible goods for use, with legal right of possession and effective control vesting with the hirer, required to be treated as "deemed sale of goods", hence cannot be considered as "supply of tangible goods for use of service" - Tri

  12. Service Tax : Cleaning Services - Indian Railways - the original authority held cleaning of such railway coaches will be considered as cleaning of commercial premises - the interpretation of the original authority is far fetched and not sustainable in view of the plain meaning of the statutory definition for tax entry. - Tri

  13. Service Tax : Non-payment of service tax - difference between the statutory returns and the annual balance sheet - The burden of explaining the difference amount being not taxable income has been shifted to the appellant. This will be against the very basis of tax levy - Tri

  14. Service Tax : Liability of service tax - expenditure incurred in setting up of certain branch offices in foreign countries - the legal fiction of considering a branch of an assessee as a separate establishment is not to tax a service rendered to its head office. Further, here there is no such service also has been identified with supporting evidence - the tax liability under BAS cannot be sustained. - Tri

  15. Central Excise : Classification of goods - Aswini Homeo Arnica Hair Oil (AHAHO) - The goods are classifiable under chapter 30 of the Central Excise Tariff as Homeopathic medicine and liable to duty accordingly. - Tri

  16. Central Excise : Waste - N/N. 89/95-CE - manufacture of refined vegetable oil - the gums, waxes and fatty acid distillate are emerging due to removal/refining process of crude rice bran oil - benefit of exemption allowed - Tri

  17. Central Excise : Transfer of CENVAT credit - transfer of credit from Service Tax credit Register to CENVAT Credit Register, was properly done under intimation to Revenue and as such the demand for this is hit by limitation. - Tri

  18. Central Excise : Area based exemption - if the unit is one and the same as contended by the Revenue, the products which are otherwise eligible for exemption under the said notification are to be cleared without payment of duty. It is not tenable to hold that some products can avail area based exemption and others need not avail area based exemption. - Tri

  19. VAT and Sales Tax : The scheme of the Act would not permit the Tribunal to jettison the first appeal before the Commissioner and allow itself to act as first Appellate Authority. If the second appeal lies before the Tribunal and the Tribunal were to disregard the first appellate forum and convert itself into first Appellate Authority, the same would be froth with two difficulties. - HC


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 1426

    In: Customs


  2. 2018 (2) TMI 1425

    In: Customs


  3. 2018 (2) TMI 1424

    In: Customs


  4. 2018 (2) TMI 1427

    In: Customs


  5. 2018 (2) TMI 1423

    In: Customs


  6. 2018 (2) TMI 1422

    In: Customs


  7. 2018 (2) TMI 1421

    In: Customs


  8. 2018 (2) TMI 1371

    In: Income Tax


  9. 2018 (2) TMI 1380

    In: Income Tax


  10. 2018 (2) TMI 1379

    In: Income Tax


  11. 2018 (2) TMI 1378

    In: Income Tax


  12. 2018 (2) TMI 1377

    In: Income Tax


  13. 2018 (2) TMI 1376

    In: Income Tax


  14. 2018 (2) TMI 1370

    In: Income Tax


  15. 2018 (2) TMI 1369

    In: Income Tax


  16. 2018 (2) TMI 1368

    In: Income Tax


  17. 2018 (2) TMI 1381

    In: Income Tax


  18. 2018 (2) TMI 1367

    In: Income Tax


  19. 2018 (2) TMI 1366

    In: Income Tax


  20. 2018 (2) TMI 1365

    In: Income Tax


  21. 2018 (2) TMI 1364

    In: Income Tax


  22. 2018 (2) TMI 1375

    In: Income Tax


  23. 2018 (2) TMI 1374

    In: Income Tax


  24. 2018 (2) TMI 1373

    In: Income Tax


  25. 2018 (2) TMI 1363

    In: Income Tax


  26. 2018 (2) TMI 1362

    In: Income Tax


  27. 2018 (2) TMI 1361

    In: Income Tax


  28. 2018 (2) TMI 1360

    In: Income Tax


  29. 2018 (2) TMI 1359

    In: Income Tax


  30. 2018 (2) TMI 1358

    In: Income Tax


  31. 2018 (2) TMI 1357

    In: Income Tax


  32. 2018 (2) TMI 1356

    In: Income Tax


  33. 2018 (2) TMI 1372

    In: Income Tax


  34. 2018 (2) TMI 1428

    In: Income Tax


  35. 2018 (2) TMI 1420

    In: Corporate Laws


  36. 2018 (2) TMI 1419

    In: Corporate Laws


  37. 2018 (2) TMI 1418

    In: Indian Laws


  38. 2018 (2) TMI 1417

    In: Indian Laws


  39. 2018 (2) TMI 1399

    In: Service Tax


  40. 2018 (2) TMI 1415

    In: Service Tax


  41. 2018 (2) TMI 1414

    In: Service Tax


  42. 2018 (2) TMI 1413

    In: Service Tax


  43. 2018 (2) TMI 1412

    In: Service Tax


  44. 2018 (2) TMI 1411

    In: Service Tax


  45. 2018 (2) TMI 1416

    In: Service Tax


  46. 2018 (2) TMI 1410

    In: Service Tax


  47. 2018 (2) TMI 1409

    In: Service Tax


  48. 2018 (2) TMI 1408

    In: Service Tax


  49. 2018 (2) TMI 1407

    In: Service Tax


  50. 2018 (2) TMI 1406

    In: Service Tax


  51. 2018 (2) TMI 1405

    In: Service Tax


  52. 2018 (2) TMI 1402

    In: Central Excise


  53. 2018 (2) TMI 1401

    In: Central Excise


  54. 2018 (2) TMI 1400

    In: Central Excise


  55. 2018 (2) TMI 1404

    In: Central Excise


  56. 2018 (2) TMI 1403

    In: Central Excise


  57. 2018 (2) TMI 1398

    In: Central Excise


  58. 2018 (2) TMI 1397

    In: Central Excise


  59. 2018 (2) TMI 1396

    In: Central Excise


  60. 2018 (2) TMI 1395

    In: Central Excise


  61. 2018 (2) TMI 1394

    In: Central Excise


  62. 2018 (2) TMI 1393

    In: Central Excise


  63. 2018 (2) TMI 1392

    In: Central Excise


  64. 2018 (2) TMI 1391

    In: Central Excise


  65. 2018 (2) TMI 1390

    In: Central Excise


  66. 2018 (2) TMI 1389

    In: Central Excise


  67. 2018 (2) TMI 1388

    In: Central Excise


  68. 2018 (2) TMI 1387

    In: Central Excise


  69. 2018 (2) TMI 1386

    In: Central Excise


  70. 2018 (2) TMI 1385

    In: Central Excise


  71. 2018 (2) TMI 1384

    In: Central Excise


  72. 2018 (2) TMI 1383

    In: VAT and Sales Tax


  73. 2018 (2) TMI 1382

    In: VAT and Sales Tax


 
 
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