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Home e-Newsletters Index Year 2013 June Day 14 - Friday

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TMI Tax Updates - e-Newsletter
June 14, 2013

Case Laws in this Newsletter:

Income Tax Customs Corporate Laws Service Tax Central Excise CST, VAT & Sales Tax



Highlights / Catch Notes

    Income Tax

  • Reassessment - notice u/s 148 - recording of satisfaction - The omission to state a jurisdictional fact cannot by any stretch of imagination be regarded as a typographical error. - HC

  • Minimum Alternate Tax (MAT) u/s 115JB - interpretation - reduction of exempted income u/s 80-IB from book profit u/s 115JB - not allowed - HC

  • Penalty u/s 271D - The loans were prior to the date of becoming a partner of the assessee-firm. - Both the lender and borrower are agriculturists - section 269SS is not appliable - HC

  • Since the credits appearing in the balance sheet did not relate to or were not availed in the previous year but was old balance of earlier years, no enquiry could have been validly undertaken by the AO regarding these credits. - HC

  • Addition - solely on basis of statement of any partner, addition made in assessment of assessee (firm) are liable to be set aside - SC

  • Customs

  • DFIA license - transferability - benefits of flexibility to import the alternative input/product mentioned in the SION - change of policy after issuance of licence will have no consequence - HC

  • Preventive detention - when a detention order does not meet the prescribed parameters and fails to comply with the procedural requirements, the order stands vitiated and has to be struck down. - HC

  • Corporate Law

  • Winding up petition - , it will be too harsh to order winding up of a running company, merely on the petition by trustee, filed without proper authorisation. - HC

  • Service Tax

  • Construction of residential complexes - Levy of ST on Advance received - the explanation inserted by Finance Act, 2010 cannot be have retrospective effect - AT


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • Income Tax

  • 2013 (6) TMI 314
  • 2013 (6) TMI 313
  • 2013 (6) TMI 312
  • 2013 (6) TMI 311
  • 2013 (6) TMI 310
  • 2013 (6) TMI 309
  • 2013 (6) TMI 308
  • 2013 (6) TMI 307
  • 2013 (6) TMI 306
  • 2013 (6) TMI 305
  • 2013 (6) TMI 304
  • Customs

  • 2013 (6) TMI 303
  • 2013 (6) TMI 302
  • Corporate Laws

  • 2013 (6) TMI 301
  • Service Tax

  • 2013 (6) TMI 318
  • 2013 (6) TMI 317
  • 2013 (6) TMI 316
  • 2013 (6) TMI 315
  • Central Excise

  • 2013 (6) TMI 300
  • 2013 (6) TMI 299
  • 2013 (6) TMI 298
  • 2013 (6) TMI 297
  • 2013 (6) TMI 296
  • CST, VAT & Sales Tax

  • 2013 (6) TMI 319
 

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