Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

Commissioner of Income-Tax and another Versus Pradeep Kar

Rectification of mistake - Disallowance of interest claimed on the loans borrowed from the banks and other institutions - Held that:- The Appellate Commissioner has considered the appeal filed by the assessee against the disallowance of interest claimed on the loans borrowed from the banks and other institutions and allowed the interest as claimed by the assessee after assigning reasons. With regard to the appeal filed under section 154 of the Act no reasons are assigned by the Appellate Commiss .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

enge was made by the Revenue as regards the order of the Appellate Commissioner on the issue of section 154 of the Act ignoring the ground of appeal filed by the Revenue. Thus, it is manifest that the Appellate Commissioner and the Tribunal failed to adjudicate the matter in a right perspective. The order impugned is passed without the application of mind. The finding given on the proceedings under section 154 of the Act is perverse and not sustainable. We deem it proper to remand the matter bac .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

essment year 2001-02, the assessee has sold certain shares and computed capital gains and claimed deduction under section 54 of the Income-tax Act, 1961 (hereinafter referred to as "the Act"). The Assessing Officer, without noticing that the capital asset which had been transferred on which capital gains is computed, is not a long-term capital asset and being a residential house, allowed the claim of deduction under section 54 of the Act by order dated April 19, 2004. On examination of .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

le consideration was brought to tax by order dated September 2, 2004, against which the assessee preferred appeal before the Appellate Commissioner besides challenging the order passed under section 154 of the Act. The Appellate Commissioner, on considering the appeal filed against the regular assessment, granted relief to the assessee. As regards the appeal against the order under section 154 of the Act, the Appellate Commissioner failed to consider the issue on the merits and recorded a findin .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

eal against the order of assessment under section 143(3) of the Act. As regards the order under section 154 of the Act, the appeal filed by the Revenue was rejected and the cross- appeal filed by the assessee on the jurisdiction of the Assessing Officer under section 154 came to be allowed by a common order dated January 27, 2009. Against the said impugned order, these appeals are filed by the Revenue on the following substantial questions of law : "(1) Whether the Tribunal was correct in h .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

the Appellate Commissioner has not adjudicated the said issue though separate appeal was preferred by the assessee and exceeded the jurisdiction ? (3) Whether the Tribunal committed an error in recording a finding with respect to the proceedings under section 154 of the Act when the issue was not adjudicated by the Appellate Commissioner and without remanding the matter to the Appellate Commissioner for adjudication on the issue ?" 5. Heard the learned counsel appearing for the parties and .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     Latest Happenings     ↓  

Article: SERVICES UNDER REVERSE CHARGE UNDER GST REGIME

Forum: Duty Drawback & Input Credit - under GST

Forum: Excise duty credit on finished stock at additional place of business.

Forum: Credit on Repair of Company Car & Its Insurance

Highlight: Rate of exchange of conversion of the foreign currency with effect from 22th September, 2017 - Notification

Highlight: Companies (Acceptance of Deposits) Second Amendment Rules, 2017 - Notification

Highlight: Implementing Electronic Sealing for containers by exporters under self-sealing procedure prescribed by Circular 26/2017-Cus dated 1st July, 2017 and Circular 36/2017 dated 28 th August, 2017. — reg. - Circular

Highlight: Amendment to Paragraph 2.72 (b) of the Handbook of Procedures of the Foreign Trade Policy (FTP) 2015-20 - Public Notice

Notification: Amendment in Appendix 3 (SCOMET items) to Schedule- 2 of ITC (HS) Classification of Export and Import Items 2012

Circular: Amendment to Paragraph 2.72 (b) of the Handbook of Procedures of the Foreign Trade Policy (FTP) 2015-20

Notification: Companies (Acceptance of Deposits) Second Amendment Rules, 2017

Notification: Rate of exchange of conversion of the foreign currency with effect from 22th September, 2017

Forum: Trans1 return

News: Exchange Rate of Foreign Currency Relating To Imported and Export Goods Notified

Circular: Promote the officers of the Indian Revenue Service (Customs and Central Excise) to the grade of Principal commissioner of customs, GST & CX

Circular: Allocate the charges amongst the Members of the Central Board of Excise and Customs

Circular: Strategy for audits in 2017-18 consequent to GST - Audit by Central Excise and service Department to continue for the accounting year 2016-17 and for the past period

Circular: Appoint the IRS (C&CE) officers as Principal Commissioner (Revision Application) and ex-officio Additional Secretary

Circular: Time limit for filing intimation for composition levy under Rule 3(1) of the CGST Rules, 2017 extended to 16-8-2017

Circular: Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 120A of the Central Goods and Service Tax Rules, 2017

Circular: C.B.E. & C. Advisory on Customs related matters on introduction of Goods and Services Tax regime

Circular: List of Reduced Tax Liabilities under GST regime in comparison to present combined Indirect Tax rates

Circular: Works Contract for construction of Flats, Complex — Builders to pass on GST benefit to buyer otherwise anti-profiteering provisions of Section 171 of GST Act to apply

Circular: Clarification regarding applicability of section 16 of the IGST Act, 2017, relating to zero rated supply for the purpose of Compensation Cess on exports – Regarding.

Circular: Clarification on Inter-state movement of various modes of conveyance, carrying goods or passengers or for repairs and maintenance- regarding

News: RBI Reference Rate for US $

Highlight: Addition u/s 23(1)(a) - deemed rent - once the property is let out and at any point of time this remained vacant during the same cannot be brought to tax under the head House properties income.

News: Haryana constitutes screening committee on anti-profiteering

Highlight: Valuation of imported goods - it is necessary to re-examine the matter of both license agreement as well as supply contract simultaneously, to see if the enhanced royalty was in the guise of adjustment of the price of components.

Notification: Levy of anti dumping duty on New/unused pneumatic radial tyres with or without tubes and/or flap of rubber (including tubeless tyres) having normal rim dia code above 16 originating in, or exported from China PR

Highlight: Cenvat credit availed on Club Membership for the Director is not admissible as it cannot be said to be remotely connected with the activity of manufacture

Circular: Amendments in Hand Book of Procedures 2015-20 –reg.

News: Jaitley asks biz not to wait till last day to file GST returns

Circular: Implementing Electronic Sealing for containers by exporters under self-sealing procedure prescribed by Circular 26/2017-Cus dated 1st July, 2017 and Circular 36/2017 dated 28 th August, 2017. — reg.

Article: 20 Things You must know about E Way Bills in GST Law

Article: ‘DUTY DRAWBACK’ CANNOT BE EQUATED WITH ‘REBATE OF DUTY’

Highlight: Notification regarding GST rate for branded cereal, pulses and flour

News: Notification regarding GST rate for branded cereal, pulses and flour

Highlight: Anti-dumping duty on import of bus/truck tyres from China

Highlight: Cabinet approves Extension of time period of the Scheme "Special Industry Initiative for J&K" (Sll J&K) - Udaan

Highlight: Non-payment of service tax - maintenance and repair charges - appellants had knowingly and deliberately shown the repair charges as job work charges to mislead about their taxability - demand confirmed.

Highlight: BAS - execution of the project of smart card for vehicle registration – implementing the SOC-VRC project - The fact that the Government has outsourced some part of the work and paid certain consideration for such outsourced work, does not make the activity subject to service tax.

News: Cabinet approves Extension of time period of the Scheme "Special Industry Initiative for J&K" (Sll J&K) - Udaan

Highlight: Constitution of National Anti-profiteering Authority (NAA) under GST-reg. - Trade Notice

Highlight: Amendments in Hand Book of Procedures 2015-20 –reg. - Various amendments are made in Chapter-4 of Hand Book of Procedures 2015-2020.

Circular: Constitution of National Anti-profiteering Authority (NAA) under GST-reg.

Highlight: Sharing of expenses - BAS - promotion of business of group companies - sharing of expenditure for common facilities cannot be treated as service by one to another in such arrangement.

News: RBI Reference Rate for US $

Article: Credit of unsold stock [Section 140(3)] - Actual Credit as well as Notional Credit - Part-I - GST Transitional provisions

Circular: Certain Clarifications sought on Construction Services provided in the Real Estate Sector – reg.



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version