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Tax Updates - TMI e-Newsletters

Home e-Newsletters Index Year 2017 August Day 1 - Tuesday

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TMI Tax Updates - e-Newsletter
August 1, 2017

Case Laws in this Newsletter:

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



TMI SMS


Highlights / Catch Notes

  • Income Tax:

    Invoke Section 12AA for cancellation of registration - BMW car - it was stated that though the said car was purchased in the name of a Trustee, it was used for the purpose of trust only and the deduction of the same which was disallowed, has been allowed by the lower authorities - No cancellation - HC

  • Income Tax:

    The person or body corporate from which such interest income is received will not change its character, viz. interest income not arising from its business operations, which made it ineligible for deduction under Section 80P - HC

  • Income Tax:

    Loans to companies in liquidation had become bad debts and ought to be written off - whether he Tribunal was right in allowing the re-valuation of only loss making shares at market value? - Held Yes

  • Income Tax:

    Non service of notice - validity of assessment - service by way of affixture - It is seen that the Income Tax Inspector has signed as the local independent person but such witness cannot be considered to be a local independent person for the purposes of rule 17 of order V of CPC.

  • Income Tax:

    Depreciation on boiler - CIT (A) has not committed any error in allowing depreciation at the correct rate even though the assessee had claimed depreciation at a lesser rate in the return filed.

  • Customs:

    The request for conversion of free shipping bills to DEEC (Advance Licence) Scheme cannot be considered, as the said scheme is strictly on actual user basis exemption and no transferability is allowed pre or post export.

  • Customs:

    Refund - even if the Department assessed the shipping bills, for the ductile iron spun pipes, attracting Notification No.66/2008-Cus, the right course of remedy would have to file appeal against the assessed copy of shipping bills immediately after receipt of the said assessed shipping bills before the Commissioner (Appeals). Non filing of the appeal against the assessment order of the shipping bills, cannot make them eligible for refund.

  • State GST:

    ASSAM GST - Government specifies the documents that the person in charge of a conveyance carrying any consignment of goods shall carry while the goods are in movement or in transit storage.

  • State GST:

    TRIPURA GST - The documents viz. Tax Invoice, Manifest and Consignment Note shall be carried by the person in charge of a conveyance carrying any consignment of goods taxable under GST while the goods are in movement or in transit storage till an E-way Bill system is developed and approved by the GST Council.

  • Indian Laws:

    Govt extends ITR filing deadline to August 5

  • Service Tax:

    VCES Scheme - rejection of VCES application cannot be reopened at this stage after more than a year of Order-in-Original rejecting VCES declaration

  • Central Excise:

    Refund - cenvat credit - Rule 5 read with N/N. 5/2006 thus provides that refund should be filed on quarterly basis only after completion of the particular quarter. Therefore, the refund cannot be filed before completion of the quarter - refund allowed.


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • Income Tax

  • 2017 (7) TMI 1054
  • 2017 (7) TMI 1053
  • 2017 (7) TMI 1052
  • 2017 (7) TMI 1051
  • 2017 (7) TMI 1050
  • 2017 (7) TMI 1049
  • 2017 (7) TMI 1047
  • 2017 (7) TMI 1046
  • 2017 (7) TMI 1045
  • 2017 (7) TMI 1044
  • 2017 (7) TMI 1043
  • 2017 (7) TMI 1042
  • 2017 (7) TMI 1041
  • 2017 (7) TMI 1040
  • 2017 (7) TMI 1048
  • Customs

  • 2017 (7) TMI 1026
  • 2017 (7) TMI 1024
  • 2017 (7) TMI 1023
  • 2017 (7) TMI 1025
  • Corporate Laws

  • 2017 (7) TMI 1019
  • Insolvency & Bankruptcy

  • 2017 (7) TMI 1018
  • FEMA

  • 2017 (7) TMI 1017
  • Service Tax

  • 2017 (7) TMI 1039
  • 2017 (7) TMI 1038
  • 2017 (7) TMI 1037
  • 2017 (7) TMI 1036
  • 2017 (7) TMI 1035
  • Central Excise

  • 2017 (7) TMI 1034
  • 2017 (7) TMI 1033
  • 2017 (7) TMI 1032
  • 2017 (7) TMI 1031
  • 2017 (7) TMI 1030
  • 2017 (7) TMI 1029
  • 2017 (7) TMI 1028
  • 2017 (7) TMI 1027
  • CST, VAT & Sales Tax

  • 2017 (7) TMI 1022
  • 2017 (7) TMI 1021
  • 2017 (7) TMI 1020
 

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