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Home e-Newsletters Index Year 2018 March Day 29 - Thursday

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TMI Tax Updates - e-Newsletter
March 29, 2018

Case Laws in this Newsletter:

Income Tax Benami Property Customs Corporate Laws Service Tax Central Excise CST, VAT & Sales Tax Wealth tax



Highlights / Catch Notes

  • Income Tax:

    Unexplained credits u/s 68 - share application received - assessee did not submit the details of the mode of payment by these two persons and that neither their identity nor the creditworthiness nor the genuineness of the transactions is proved - additions confirmed - AT

  • Income Tax:

    Addition of interest income - dumb/ bald seized documents - addition by invoking section 292C - document does not mention the name of the assessee, does not bear the signature of the assesee, not in the handwriting of the assessee, documents has imply jottings of certain figures - No additions - AT

  • Income Tax:

    Penalty u/s 271(1)(b)- assessee refused to answer the notice u/s 142(1) - assessee was an attorney of some account holder - levy of penalty confimred - HC

  • Income Tax:

    Eligibility to deduction u/s 35 (1) - donation made much before the withdrawal of notification - Such withdrawal cannot take away the vested right of the assessee for claiming deduction u/s 35 (1) - AT

  • Income Tax:

    Exemption u/s 11 - Rejection of Application to grant registration of Trust u/s 12AA - So far as question of apprehensions raised by ld. CIT that under the garb of charitable activities, the Trustee are indulging into money laundering is concerned, this question can be taken care of by the appropriate forum as the person who is donating huge cash must be an incometax assessee, if not he or she can be brought to tax by the tax authorities - registration granted. - AT

  • Income Tax:

    Cash credit - Additions u/s 68 instead of u/s 69 - Mentioning of wrong Section in the orders of the authorities below would not be fatal to the case of Revenue. May be technically Section 68 is not applicable in the case of the assessee, but, assessee failed to explain source of the cash deposit in her bank account - additions confirmed - AT

  • Customs:

    Anti Dumping Duty - quantification of duty - fixing AD duty based on reference landed value is one of the accepted method which has been followed in the past including for various steel products produced by the same appellants. - AT

  • Customs:

    Imposition of Anti Dumping Duty - new/unused pneumatic radial tyres with or without tubes and/or flap of rubber (including tubeless tyres) - For the injury analysis, the DA had examined all the mandatory parameters prescribed under the law. There is no need for segment wise analysis for OEM and replacement market. The categorical conclusion that dumped imports had caused material injury to the DI cannot be contested either in law or on fact. - AT

  • Indian Laws:

    The property was held in fiduciary capacity - Whether the provisions of the Benami Transactions (Prohibition) Act, 1988, would apply to a transaction of the year 1972 is another matter, but, in view of pleadings in the suit filed by respondent No.1, it cannot be said that this could be a ground for rejection of the plaint at the threshold - HC

  • Service Tax:

    Business Auxiliary Services - chilling of milk amounts to manufacture and it is settled law that process amounting to manufacture is not liable to service tax - activity do not come under the clutches of service tax - AT

  • Service Tax:

    CENVAT credit - duty paying documents - Since as per the proviso appended to Rule 4A (2), debit note cannot be denied as a proper document, the credit should be available to the appellant, subject to fulfilment of the other conditions laid down in sub-rule (2) of the said Rules. - AT

  • Service Tax:

    Jurisdiction of Court - requirement of fulfillment of Bank Guarantee - service tax default - The Court, on the basis of the undertaking given by a party, cannot convert itself into an executing Court to execute the terms agreed by the party, while deciding the bail application - HC

  • Service Tax:

    Penalty u/s 76 and section 78 - the proceedings itself should have closed under Section 73 (3) as the service tax liability alongwith interest has been discharged prior to issue of show cause notice - penalty set aside. - AT

  • Service Tax:

    Service of SCN - There is no attempt to serve the notice in the normal process by registered post or speed post - Straight away upon receiving the notice it has been served by affixture - there is no valid service of SCN. - AT

  • Central Excise:

    CENVAT credit - input service - the assessee/appellant require the residential colony and availability of the workers for manufacture of dutiable goods and, as such, security services is essential part in order to maintain the residential/industrial colony of the appellant - credit allowed - AT

  • Central Excise:

    CENVAT credit - input services - service tax paid on the taxable service used in the wind mill cannot be denied to the appellant. - AT

  • Central Excise:

    Clandestine removal - onus to prove - the Department has not produced any other tangible evidence to show that the higher percentage of scrap of 11.46% were removed by the appellant in clandestine manner - demand set aside - AT

  • VAT:

    Demand of tax refund earlier - obtained de-oiled rice bran as a by-product - partial rebate under Section 17 of the KVAT Act - Once indemnity bond is furnished, the payment of tax refunded is mandatory and the same cannot be assailed by the petitioner. - HC


Articles


Notifications


News


Case Laws:

  • Income Tax

  • 2018 (3) TMI 1410
  • 2018 (3) TMI 1409
  • 2018 (3) TMI 1408
  • 2018 (3) TMI 1407
  • 2018 (3) TMI 1411
  • 2018 (3) TMI 1406
  • 2018 (3) TMI 1405
  • 2018 (3) TMI 1404
  • 2018 (3) TMI 1403
  • 2018 (3) TMI 1402
  • 2018 (3) TMI 1401
  • 2018 (3) TMI 1400
  • 2018 (3) TMI 1399
  • 2018 (3) TMI 1398
  • Benami Property

  • 2018 (3) TMI 1391
  • Customs

  • 2018 (3) TMI 1395
  • 2018 (3) TMI 1394
  • 2018 (3) TMI 1397
  • 2018 (3) TMI 1396
  • 2018 (3) TMI 1393
  • Corporate Laws

  • 2018 (3) TMI 1392
  • Service Tax

  • 2018 (3) TMI 1389
  • 2018 (3) TMI 1390
  • 2018 (3) TMI 1388
  • 2018 (3) TMI 1387
  • 2018 (3) TMI 1386
  • 2018 (3) TMI 1385
  • 2018 (3) TMI 1384
  • Central Excise

  • 2018 (3) TMI 1380
  • 2018 (3) TMI 1383
  • 2018 (3) TMI 1382
  • 2018 (3) TMI 1379
  • 2018 (3) TMI 1378
  • 2018 (3) TMI 1377
  • 2018 (3) TMI 1376
  • 2018 (3) TMI 1375
  • 2018 (3) TMI 1381
  • 2018 (3) TMI 1374
  • 2018 (3) TMI 1373
  • 2018 (3) TMI 1372
  • 2018 (3) TMI 1371
  • 2018 (3) TMI 1370
  • CST, VAT & Sales Tax

  • 2018 (3) TMI 1369
  • 2018 (3) TMI 1368
  • 2018 (3) TMI 1367
  • 2018 (3) TMI 1366
  • 2018 (3) TMI 1365
  • Wealth tax

  • 2018 (3) TMI 1364
 

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