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Home Newsletters Index Year 2018 March Day 6 - Tuesday
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TMI Updates - Newsletter dated: March 6, 2018

Highlights

  1. GST : Joint Venture - taxable services provided by the members of the Joint Venture (JV) to the JV and vice versa and inter se between the members of the JV-reg.

  2. Income Tax : Computation of Capital Gain - AO was of the opinion that since the interest in question on housing loan, had already been claimed as deduction u/s 24(b), the same could not be taken into consideration for computation u/s 48 - AO should not have reduced brokerage and interest on loan from WIP - Tri

  3. Income Tax : Registration u/s 12AA - Rejection of earlier application and further not filing appeal before higher authorities cannot be held to be reason for assessee not to file a fresh application when its is permitted by the law - Tri

  4. Income Tax : Transfer pricing - arm’s length price - Adjustment to the income of the assessee on account of interest on receivables - since the assessee earned significantly higher margin than the comparable companies, which have been accepted by the TPO, therefore, there was no justification to charge interest on outstandings. - Tri

  5. Income Tax : Disallowance of expenses on temporary suspension of the business - mere non conduct of hotel business in the previous year due to the temporary suspension thereof by the assessee cannot be a ground to deny the deduction of the interest expense on the borrowed capital - Tri

  6. Central Excise : Valuation - inclusion of cost of free supply of drawings - as per Rule 6 of Central Excise Valuation Rules, 2000 the value of free of cost drawing used for the manufacture of final product for the customer must be included in the value of automobile parts - Tri

  7. Central Excise : Classification of goods - Printed Plastic Cards - the products coming into existence were held to be printing industry products - products are classifiable under chapter sub heading 4901.90 and the demand made under chapter sub heading 39 is not sustainable - Tri


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  1. 2018 (3) TMI 79

    In: Income Tax


  2. 2018 (3) TMI 80

    In: Income Tax


  3. 2018 (3) TMI 81

    In: Income Tax


  4. 2018 (3) TMI 82

    In: Income Tax


  5. 2018 (3) TMI 83

    In: Income Tax


  6. 2018 (3) TMI 84

    In: Income Tax


  7. 2018 (3) TMI 72

    In: Income Tax


  8. 2018 (3) TMI 73

    In: Income Tax


  9. 2018 (3) TMI 65

    In: Income Tax


  10. 2018 (3) TMI 66

    In: Income Tax


  11. 2018 (3) TMI 67

    In: Income Tax


  12. 2018 (3) TMI 68

    In: Income Tax


  13. 2018 (3) TMI 69

    In: Income Tax


  14. 2018 (3) TMI 70

    In: Income Tax


  15. 2018 (3) TMI 71

    In: Income Tax


  16. 2018 (3) TMI 64

    In: Income Tax


  17. 2018 (3) TMI 77

    In: Income Tax


  18. 2018 (3) TMI 76

    In: Income Tax


  19. 2018 (3) TMI 75

    In: Income Tax


  20. 2018 (3) TMI 78

    In: Corporate Laws


  21. 2018 (3) TMI 63

    In: Central Excise


  22. 2018 (3) TMI 61

    In: Central Excise


  23. 2018 (3) TMI 62

    In: Central Excise


  24. 2018 (3) TMI 59

    In: Central Excise


  25. 2018 (3) TMI 60

    In: Central Excise


  26. 2018 (3) TMI 58

    In: Central Excise


  27. 2018 (3) TMI 74

    In: VAT and Sales Tax


 
 
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