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Tax Updates - TMI e-Newsletters

Home e-Newsletters Index Year 2017 August Day 10 - Thursday

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TMI Tax Updates - e-Newsletter
August 10, 2017

Case Laws in this Newsletter:

Income Tax Benami Property Customs Insolvency & Bankruptcy Service Tax Central Excise CST, VAT & Sales Tax Indian Laws



Highlights / Catch Notes

  • Income Tax:

    Agricultural income or not - turnkey contract of plantation - to create and develop plantations, rock gardens etc. for companies/institutions - The consideration received cannot be classified as agricultural income under 2(i)(a)(iii) - HC

  • Income Tax:

    Eligibility to registration to the Assessee u/s 12AA and u/s 80G - The mere fact that the Assessee had received service charges from the various organizations for conducting programmes would not convert its essential function to that of a business - HC

  • Income Tax:

    Accrual of interest income on FD's - compensation and interest was not final, but pending the decision of the High Court - it is an accepted position that the right to receive the interest from the fixed deposits already accrued to the appellant-assessee - amount is taxable in the hands of assessee - HC

  • Income Tax:

    Royalty - exchange gain - Income attributable to royalty and interest remitted from Malaysia after retaining in Malaysia for sometime - income is taxable in India - HC

  • Income Tax:

    Grant of exemption under section 10(23C)(vi) - date of grant of registration - The registration will take effect from the date of application - HC

  • Income Tax:

    Levy of penalty u/s 271FA - failure of the appellant in furnishing AIR in time - appellant had not established any reasonable cause for not filing AIR within time - penalty confirmed - HC

  • Income Tax:

    Deduction u/s. 80-IA(4)(ii) - telecommunication services - infrastructure facilities - A wholesale purchaser of bandwidth cannot be equated with an undertaking providing infrastructure facilities i.e. broadband network and Internet services.

  • Income Tax:

    Eligibility to exemption u/s 10B - whether duty draw back / export incentive is eligible for deduction / exemption - Held Yes

  • Customs:

    Re-export of prohibited goods - The consignment having contained `prohibited goods', which were confiscated in terms of Section 111 (d) of the CA, the Petitioner is not entitled for re-export of the same without payment of demurrage/ground rent - HC

  • Customs:

    The “removal” and “clearance” cannot be equated to clear the goods for home consumption under Section 47 of the Customs Act. The permissions to clear the goods would not be in violation of Section 111(j), which is applicable to “removals” and not to the “clearance”. - HC

  • Service Tax:

    CENVAT credit - input service distribution - credit in respect of input services utilised at the R&D centres of the appellant company and transferred to factory through input service distribution mechanism - credit allowed.

  • Central Excise:

    CENVAT credit - appellants are drawing water from various dams in the vicinity of factory and pipelines have been laid from the tanks to the mines - denial of credit on the ground that the pipes were not used in the factory of the appellant - Credit allowed.


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • Income Tax

  • 2017 (8) TMI 386
  • 2017 (8) TMI 385
  • 2017 (8) TMI 384
  • 2017 (8) TMI 382
  • 2017 (8) TMI 381
  • 2017 (8) TMI 380
  • 2017 (8) TMI 379
  • 2017 (8) TMI 378
  • 2017 (8) TMI 377
  • 2017 (8) TMI 376
  • 2017 (8) TMI 371
  • 2017 (8) TMI 370
  • 2017 (8) TMI 369
  • 2017 (8) TMI 368
  • 2017 (8) TMI 387
  • 2017 (8) TMI 367
  • 2017 (8) TMI 366
  • 2017 (8) TMI 365
  • 2017 (8) TMI 375
  • 2017 (8) TMI 374
  • 2017 (8) TMI 373
  • 2017 (8) TMI 364
  • 2017 (8) TMI 372
  • 2017 (8) TMI 363
  • 2017 (8) TMI 362
  • 2017 (8) TMI 361
  • 2017 (8) TMI 360
  • 2017 (8) TMI 359
  • Benami Property

  • 2017 (8) TMI 383
  • Customs

  • 2017 (8) TMI 348
  • 2017 (8) TMI 347
  • 2017 (8) TMI 345
  • 2017 (8) TMI 346
  • Insolvency & Bankruptcy

  • 2017 (8) TMI 343
  • Service Tax

  • 2017 (8) TMI 358
  • 2017 (8) TMI 357
  • 2017 (8) TMI 356
  • Central Excise

  • 2017 (8) TMI 355
  • 2017 (8) TMI 354
  • 2017 (8) TMI 353
  • 2017 (8) TMI 352
  • 2017 (8) TMI 351
  • 2017 (8) TMI 350
  • 2017 (8) TMI 349
  • CST, VAT & Sales Tax

  • 2017 (8) TMI 344
  • Indian Laws

  • 2017 (8) TMI 341
  • 2017 (8) TMI 342
 

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