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Tax Updates - TMI Newsletters
Home Newsletters Index Year 2018 February Day 24 - Saturday
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TMI Updates - Newsletter dated: February 24, 2018

TMI SMS


Highlights

  1. Income Tax : Agreement between the Government of the Republic of India and the Government of the Republic of of Kenya for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes - Notification

  2. Income Tax : Selection of case of scrutiny assessment - validity of notice - Attainment of requirement u/s 143(2) - deemed service of notice - non-availability of the Assessee to receive the notice sent by registered post as many as on two occasions - decided in favor of revenue - SC

  3. Income Tax : Penalty u/s 271D - Even if, the Assessee has explained the identity, the source and genuineness of receipt in cash for the purpose of Section 68, would not by itself permit / allow a party to obtain loans in cash in breach of Section 269 SS of the Act. - HC

  4. Income Tax : Penalty u/s 271D - reasonable cause for violation of Section 269SS - when the Karta is dealing with the large amounts of cash. Lack of formal education cannot by itself be the conclusive of ignorance of the law, particularly in respect of men of business. - HC

  5. Income Tax : Addition u/s 40(a)(i) - TDS liability - bandwidth allocation by overseas service provider - fee for technical services - AO directed to examine the materials before him and call for additional expert or technical advice, as is necessary - HC

  6. Income Tax : Disallowance of excess claim of remuneration to the partners claimed - nature of income - interest on FDR - the interest on the FDR has direct nexus with the business activity of the assessee - no additions - Tri

  7. Income Tax : Applicability of section 33AB(7) - The provisions of section 33AB (7) uses the expression ‘being utilised’ - assessee had paid substantial portion of the proforma invoice value as advance before 31.3.2012 and had included the same in the utilization statement - action of the revenue in bringing to tax the deemed income in terms of section 33AB(7) deserves to be deleted - Tri

  8. Companies Law : The only requirement of Section 96 of the Act is holding of AGM of the company each year, which has been complied with. The manner in which the meeting has been conducted cannot be raised as a question before the Tribunal. - Tri

  9. Service Tax : Refund of service tax - rejection on the ground of time limitation - The authority examining the said claim is bound by the legal provisions of these Acts in discharging his duties. - Tri

  10. Service Tax : Validity of subsequent SCN - Intellectual Property Right Service - the Revenue having raised their earlier SCN was debarred from raising a subsequent SCN by invoking the larger period of limitation in respect of the said facts and circumstances - Tri

  11. Central Excise : Benefit of exemption - actual user condition - the naphtha supplied against competitive bidding was not entirely consumed for the manufacture of fertilizers by the RCF - for such failure, the manufacturer, where the goods were intended to be used is required to pay differential duty. - HC

  12. Central Excise : Refund claim - price variation clause - appellant entitled to refund of the excess duty paid due the deductions towards non achievement of GPF - Tri

  13. Central Excise : Rate of duty - effective date of correction through corrigendum notification - The question of retrospective effect of such correction cannot be equated with exercise of the power of the Parliament to make a law with retrospective effect. - HC

  14. Central Excise : Classification of goods - textile fabric combined with PU foam as textile fabric laminated with polyurethane foam - the product PVC leather cloth also known as rexine cloth has to be correctly classified under Chapter 59.03 - Tri

  15. Central Excise : CENVAT credit - input services credit in respect of premises, which is being leased out - the credit availed on payment of service tax can be utilized for discharge of central excise duty. - Tri

  16. VAT and Sales Tax : CST - stock transfer against form 'F' - The revenue has not produced any specific Rule prescribed for limitation for the said purpose and therefore, the separate ‘F’ Forms furnished by the petitioner assessee could not have been rejected on the ground of being filed belatedly. - HC

  17. VAT and Sales Tax : In respect of any suppressed turnover, which was not declared as part of the compounding proceedings, the benefit of the rate of tax applicable to compounding provision would not be applicable. - HC


Articles


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 1454

    In: Customs


  2. 2018 (2) TMI 1457

    In: Income Tax


  3. 2018 (2) TMI 1458

    In: Income Tax


  4. 2018 (2) TMI 1459

    In: Income Tax


  5. 2018 (2) TMI 1473

    In: Income Tax


  6. 2018 (2) TMI 1474

    In: Income Tax


  7. 2018 (2) TMI 1456

    In: Income Tax


  8. 2018 (2) TMI 1471

    In: Income Tax


  9. 2018 (2) TMI 1472

    In: Income Tax


  10. 2018 (2) TMI 1470

    In: Income Tax


  11. 2018 (2) TMI 1469

    In: Income Tax


  12. 2018 (2) TMI 1467

    In: Income Tax


  13. 2018 (2) TMI 1468

    In: Income Tax


  14. 2018 (2) TMI 1466

    In: Income Tax


  15. 2018 (2) TMI 1464

    In: Income Tax


  16. 2018 (2) TMI 1465

    In: Income Tax


  17. 2018 (2) TMI 1463

    In: Income Tax


  18. 2018 (2) TMI 1462

    In: Income Tax


  19. 2018 (2) TMI 1461

    In: Income Tax


  20. 2018 (2) TMI 1460

    In: Income Tax


  21. 2018 (2) TMI 1452

    In: Corporate Laws


  22. 2018 (2) TMI 1451

    In: Corporate Laws


  23. 2018 (2) TMI 1475

    In: Indian Laws


  24. 2018 (2) TMI 1450

    In: Indian Laws


  25. 2018 (2) TMI 1447

    In: Service Tax


  26. 2018 (2) TMI 1448

    In: Service Tax


  27. 2018 (2) TMI 1449

    In: Service Tax


  28. 2018 (2) TMI 1446

    In: Service Tax


  29. 2018 (2) TMI 1445

    In: Service Tax


  30. 2018 (2) TMI 1443

    In: Service Tax


  31. 2018 (2) TMI 1444

    In: Service Tax


  32. 2018 (2) TMI 1439

    In: Central Excise


  33. 2018 (2) TMI 1440

    In: Central Excise


  34. 2018 (2) TMI 1442

    In: Central Excise


  35. 2018 (2) TMI 1438

    In: Central Excise


  36. 2018 (2) TMI 1441

    In: Central Excise


  37. 2018 (2) TMI 1436

    In: Central Excise


  38. 2018 (2) TMI 1437

    In: Central Excise


  39. 2018 (2) TMI 1455

    In: Central Excise


  40. 2018 (2) TMI 1435

    In: Central Excise


  41. 2018 (2) TMI 1434

    In: Central Excise


  42. 2018 (2) TMI 1433

    In: Central Excise


  43. 2018 (2) TMI 1453

    In: Central Excise


  44. 2018 (2) TMI 1432

    In: VAT and Sales Tax


  45. 2018 (2) TMI 1431

    In: VAT and Sales Tax


  46. 2018 (2) TMI 1430

    In: VAT and Sales Tax


  47. 2018 (2) TMI 1429

    In: VAT and Sales Tax


 
 
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