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Tax Updates - TMI Newsletters
Home Newsletters Index Year 2018 February Day 27 - Tuesday
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TMI Updates - Newsletter dated: February 27, 2018

TMI SMS


Highlights

  1. Income Tax : CBDT made a scheme for centralised issuance of notice and for processing of information or documents and making available the outcome of the processing to the Assessing Officer.

  2. Income Tax : Application for registration of charitable or religious trusts, etc. - Rule 17A amended - Form No. 10A to be submitted electronically

  3. Income Tax : Addition in case of failure to deduct TDS u/s 194C - Since the recipient has already has admitted the income and paid the taxes and the amount in question was reimbursement of expenses, we hold that the addition made by the A.O. u/s 40(a)(ia) is unsustainable - Tri

  4. Income Tax : Income of the consumer co-operative society - mutual association - activity of purchase and distribution of electric power - the assessee is a mutual association and the income of the society is not chargeable to tax u/s 4 of the IT Act - Tri

  5. Income Tax : Addition u/s.69 - difference of cash balance in the bank account as per books of account and as per the bank statement - once the books of accounts of the assessee are rejected, the same cannot be relied for making addition u/s. 69 - Tri

  6. Income Tax : Penalty u/S.158BFA(2) - on receipt of the notice following the search and seizure, the assessee has filed his returns within ten days of the expiry of the time stipulated for filing such returns and paid a part of the tax on the admitted undisclosed income - No penalty - HC

  7. Income Tax : Application for extension of time for payment of last installment of tax under the Income Disclosure Scheme 2016 - It would be for the Board (CBDT) to judge the facts on record and come to the conclusion whether this is a fit case for exercise of powers u/s 119(2) - HC

  8. Income Tax : Delay in payment of last installment of the Income Declaration Scheme, 2016 (IDS 2016) - there is no provision under the scheme, to grant any time, after 30.9.2017, to pay the amount of installment. - HC

  9. FEMA : Risk Management and Inter-bank Dealings: Revised guidelines relating to participation of a person resident in India and Foreign Portfolio Investor (FPI) in the Exchange Traded Currency Derivatives (ETCD) Market

  10. Service Tax : Recovery of dues from legal heir - whether the SCN is validly issued in the name of Bhootpurva Sainik Security & Detective Service (after death of proprietor) - no demand can be raised through defective notice - Tri

  11. Service Tax : Chartered accountant - liability of service tax - activities like legal assistance, advisory work etc. were taxable under "Management, Consultant" service in terms of Section 65 (65) read with Section 65 (105) (r) of Finance Act, 1994. - Tri

  12. Service Tax : Penalty u/s 76 and 78 - the assessee cannot be penalised for non receipt of the tax from Rajasthan Housing Board. He has also not received tax and paid the same with interest, therefore, if penalty is imposed, he would have no other option but to close its business - no penalty - HC

  13. Central Excise : Benefit of exemption - actual user condition - intended for use in the manufacture of handicrafts and utensils - The intended use of the said goods has been established by the appellant, in that circumstance, the benefit of the notification cannot be denied. - Tri

  14. Central Excise : Cenvat Credit - removal of damaged parts of capital goods - Independent and solo reading of Rule 5A without appreciating the context in which the same is appearing, as has been done by the authorities below, is not in accordance with the principles of interpretation of law. - Tri

  15. VAT and Sales Tax : Refund of tax paid on excess amount - price variation clause - since the price of the cylinder has been reduced, the assessee cannot charge more than the price fixed, is bound to refund the excess amount collected and is therefore legally entitled to get refund of the tax paid on the excess amount - SC


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 1576

    In: Customs


  2. 2018 (2) TMI 1575

    In: Customs


  3. 2018 (2) TMI 1574

    In: Customs


  4. 2018 (2) TMI 1573

    In: Customs


  5. 2018 (2) TMI 1541

    In: Customs


  6. 2018 (2) TMI 1594

    In: Income Tax


  7. 2018 (2) TMI 1593

    In: Income Tax


  8. 2018 (2) TMI 1592

    In: Income Tax


  9. 2018 (2) TMI 1585

    In: Income Tax


  10. 2018 (2) TMI 1586

    In: Income Tax


  11. 2018 (2) TMI 1587

    In: Income Tax


  12. 2018 (2) TMI 1588

    In: Income Tax


  13. 2018 (2) TMI 1589

    In: Income Tax


  14. 2018 (2) TMI 1590

    In: Income Tax


  15. 2018 (2) TMI 1591

    In: Income Tax


  16. 2018 (2) TMI 1601

    In: Income Tax


  17. 2018 (2) TMI 1600

    In: Income Tax


  18. 2018 (2) TMI 1584

    In: Income Tax


  19. 2018 (2) TMI 1599

    In: Income Tax


  20. 2018 (2) TMI 1583

    In: Income Tax


  21. 2018 (2) TMI 1598

    In: Income Tax


  22. 2018 (2) TMI 1597

    In: Income Tax


  23. 2018 (2) TMI 1596

    In: Income Tax


  24. 2018 (2) TMI 1581

    In: Income Tax


  25. 2018 (2) TMI 1582

    In: Income Tax


  26. 2018 (2) TMI 1542

    In: Income Tax


  27. 2018 (2) TMI 1580

    In: Income Tax


  28. 2018 (2) TMI 1595

    In: Income Tax


  29. 2018 (2) TMI 1579

    In: Income Tax


  30. 2018 (2) TMI 1578

    In: Income Tax


  31. 2018 (2) TMI 1577

    In: Income Tax


  32. 2018 (2) TMI 1572

    In: Corporate Laws


  33. 2018 (2) TMI 1571

    In: Corporate Laws


  34. 2018 (2) TMI 1570

    In: PMLA


  35. 2018 (2) TMI 1569

    In: Indian Laws


  36. 2018 (2) TMI 1567

    In: Service Tax


  37. 2018 (2) TMI 1566

    In: Service Tax


  38. 2018 (2) TMI 1565

    In: Service Tax


  39. 2018 (2) TMI 1564

    In: Service Tax


  40. 2018 (2) TMI 1563

    In: Service Tax


  41. 2018 (2) TMI 1568

    In: Service Tax


  42. 2018 (2) TMI 1557

    In: Central Excise


  43. 2018 (2) TMI 1556

    In: Central Excise


  44. 2018 (2) TMI 1555

    In: Central Excise


  45. 2018 (2) TMI 1562

    In: Central Excise


  46. 2018 (2) TMI 1558

    In: Central Excise


  47. 2018 (2) TMI 1561

    In: Central Excise


  48. 2018 (2) TMI 1560

    In: Central Excise


  49. 2018 (2) TMI 1559

    In: Central Excise


  50. 2018 (2) TMI 1554

    In: Central Excise


  51. 2018 (2) TMI 1550

    In: Central Excise


  52. 2018 (2) TMI 1551

    In: Central Excise


  53. 2018 (2) TMI 1552

    In: Central Excise


  54. 2018 (2) TMI 1553

    In: Central Excise


  55. 2018 (2) TMI 1549

    In: Central Excise


  56. 2018 (2) TMI 1548

    In: VAT and Sales Tax


  57. 2018 (2) TMI 1547

    In: VAT and Sales Tax


  58. 2018 (2) TMI 1546

    In: VAT and Sales Tax


  59. 2018 (2) TMI 1545

    In: VAT and Sales Tax


  60. 2018 (2) TMI 1544

    In: VAT and Sales Tax


  61. 2018 (2) TMI 1543

    In: Wealth tax


 
 
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