Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Tax Updates - TMI e-Newsletters

Home e-Newsletters Index Year 2012 June Day 2 - Saturday

TMI e-Newsletters FAQ
Login to see detailed Newsletter

TMI Tax Updates - e-Newsletter
June 2, 2012

Case Laws in this Newsletter:

Income Tax Customs Corporate Laws Service Tax Central Excise Wealth tax Indian Laws



Highlights / Catch Notes

    Income Tax

  • Deduction u/s 80HH & 80I - whether extracting stones and then cutting them into the required size and weight, can be held as 'manufacturing activity' - held no - HC

  • Reference to the DVO does not become invalid on the completion of the assessment proceedings before the receipt of the valuation report and that after the receipt of the valuation report after completion of the assessment proceedings, the report would become part of the record which may enable the income tax authorities to take action as permissible under the Act, such as Section 147, Section 263, appellate power under Section 250 or Section 251 etc. - HC

  • To “make available” technical knowledge, mere provisions of service was not enough and the payer had to be enabled to perform services himself. The department’s argument that the amendments by the Finance Act, 2012 changes the position is not acceptable, since there is no change in the DTAA between India and USA and the DTAA prevails where it is favourable to the assessee; - AT

  • Discounting charges vs Interest - merely discount of the sale consideration on sale of goods, it was not “interest” u/s 2(28A) and there was no obligation to deduct TDS thereon - SC dismissed the SLP

  • TDS u/s 194H – Trade discount provided by newspaper publishers to advertising agencies under Rules and regulations of Indian Newspaper Society - HC

  • Income from house property - Vacancy allowance - Tenant stopped payment rent and stopped using the premises but did not handover the possession back to assessee owner - AT

  • Levy of Sales Tax (VAT) on Fabric - Classification of Hook and Loop Tape Fasteners called as Velcro Fastener - what is a Narrow Fabric and Hook and Loop Tape Fasteners

  • Charitable Institution - alleged violation of Section 13(1)(c)(ii) read with Section 13(3) on belief that society was for the private benefit of the members - HC

  • Customs

  • Target Plus Scheme – validity of circular - circular dated 8 May 2007 quashed and set aside - HC

  • Demand of Anti-Dumping Duty in respect of imports of CFL – contention of revenue that the parts imported by the appellants constitute 90% of the total requirement of manufacture of CFL and in terms of provisions of Rule 2(a) of Interpretative Rules to be treated as complete lamps - AT

  • Rate of CVD in respect of goods where full exemption withdrawn - 1% or 5% - Whether the benefit of Notification No. 1/2011 CE dated 1.3.2011 is available to the impugned goods or not - AT

  • DGFT

  • Exemption for export of pulses to the Republic of Maldives. - Notification

  • File applications for 9 SEZ port codes - reg. - Circular

  • FEMA

  • Overseas Direct Investments by Indian Party- Online Reporting of Overseas Direct Investment in Form ODI. - Circular

  • Corporate Law

  • Negotiable Instruments Act – Blank Cheque - dishonor of cheque - A person issuing a blank cheque is supposed to understand the consequences of doing so. He cannot escape his liability only on the ground that blank cheques had been issued. - HC

  • Service Tax

  • Coaching or training to the employees of the buyer concerns - not taxable - AT

  • Erection, Commissioning or Installation - laying of cables under or alongside roads did not constitute any taxable service under Section 65(105) of the Finance Act, 1994 - AT

  • Central Excise

  • Seeks to rescind Notfns. 09/2012, 10/2012, 11/2012, 18/2012 and 23/2012 – C.E. - Notification

  • Classification of other bathroom accessories of brass, namely soap dishes, toilet paper holder, tumbler holder, towel ring, towel rack, towel rack with single rail, coat hook, robe hook and for glass shelf - AT

  • Non fulfillment of export obligation - there is no question of further imposition of duty of Customs on such imported goods subsequently allowed to be re exported. Charge of non fulfillment of export obligation is not established - AT

  • Cenvat credit - 100% credit availed in the first year – liability would be only in respect of interest on the amount of wrongly Cenvat credit taken for the period for which it was irregular, - AT


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • Income Tax

  • 2012 (6) TMI 18
  • 2012 (6) TMI 17
  • 2012 (6) TMI 16
  • 2012 (6) TMI 15
  • 2012 (6) TMI 14
  • 2012 (6) TMI 13
  • 2012 (6) TMI 12
  • 2012 (6) TMI 11
  • 2012 (6) TMI 10
  • 2012 (6) TMI 9
  • 2012 (6) TMI 8
  • 2012 (5) TMI 507
  • 2012 (5) TMI 506
  • 2012 (5) TMI 505
  • 2012 (5) TMI 504
  • 2012 (5) TMI 503
  • 2012 (5) TMI 502
  • 2012 (5) TMI 501
  • 2012 (5) TMI 500
  • 2012 (5) TMI 499
  • Customs

  • 2012 (6) TMI 7
  • 2012 (6) TMI 6
  • 2012 (5) TMI 498
  • Corporate Laws

  • 2012 (6) TMI 19
  • 2012 (6) TMI 5
  • 2012 (6) TMI 4
  • 2012 (5) TMI 496
  • 2012 (5) TMI 495
  • Service Tax

  • 2012 (6) TMI 23
  • 2012 (6) TMI 22
  • 2012 (6) TMI 21
  • 2012 (6) TMI 20
  • 2012 (5) TMI 512
  • 2012 (5) TMI 511
  • 2012 (5) TMI 510
  • 2012 (5) TMI 509
  • Central Excise

  • 2012 (6) TMI 3
  • 2012 (6) TMI 2
  • 2012 (6) TMI 1
  • 2012 (5) TMI 514
  • 2012 (5) TMI 513
  • 2012 (5) TMI 494
  • 2012 (5) TMI 493
  • Wealth tax

  • 2012 (5) TMI 515
  • Indian Laws

  • 2012 (5) TMI 508
 

Quick Updates:Latest Updates