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Highlights / Annotations / Catch Notes For December of 2012

Home Highlights December December 2012 Year 2012

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Showing 1 to 50 of 197 Records

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December 31, 2012
C.Ex.: Demand u/s 11D - Reversal of cenvat credit and collected the same from the purchasers - The contention of the Department that by doing so, the respondent passed on...
December 31, 2012
S.Tax: Logistic services - appellant are logistic division of M/s. Mahindra and Mahindra Limited who providing various logistics services to another division - Merely by taking...
December 31, 2012
S.Tax: Business Auxiliary Service - toll tax collection in terms of the agreement entered into assessee & M/s National Highways Authority of India (NHAI)- the activity cannot...
December 31, 2012
I.Tax: Remuneration to partners - where the partner is working partners and remuneration provided is within the limits prescribed u/s 40(b)(v), AO cannot disallow any part of...
December 31, 2012
I.Tax: Delay in filing appeal - assessee filed fresh appeal before the Tribunal once the entire reason for challenging the Commissioner's order changed, therefore, delay was...
December 31, 2012
I.Tax: Depreciation on the Uninterrupted Power Supply (“UPS”) - UPS would definitely fall under the head of’ Automatic Voltage Controller’ eligible for claiming 100% depredation on UPS - AT
December 31, 2012
S.Tax: Management Consultancy Service - 65(105)(r) - If a person does the activity of collecting of debts of a company that person cannot be considered to be doing management...
December 31, 2012
Cus.: Concealment of medicinal powder in the Shampoo and Talcum Powder bottles - the criminal proceedings pending before the trial court cannot go on, against the petitioner,...
December 31, 2012
I.Tax: Refund adjusted against demand – Section 245 is clear in its mandate regarding the requirement of prior intimation in writing to the assessee whose refunds are being...
December 31, 2012
I.Tax: Capital gain - Nature of land - Sale of agricultural land – There is no requirement in any Act more especially the I.T. Act that only the self-cultivated land will be...
December 31, 2012
I.Tax: Method of Accounting - Assessee switch over from the cash system to the mercantile system of accounting - assessee had to follow the mercantile system and during the...
December 31, 2012
I.Tax: Validity of notice u/s 148 – Reason to believe - The mere fact that a transfer pricing order had led to a partially adverse order, or that in the subsequent year, the...
December 31, 2012
I.Tax: Penalty u/s 271D & 271E - acceptance and repayment of loan or deposit in excess of Rs. 20,000/- there existed reasonable cause in mobilizing these deposits in rural and...
December 31, 2012
I.Tax: Unexplained investment – Gifted jewelleries cannot be treated as unexplained as the same is duly supported by such corroborative evidence like gift certificate etc. - AT
December 31, 2012
I.Tax: Depreciation in the case of succession - when the assessee transferred its B Unit to the 100% subsidiary company, it was entitled to claim depreciation apportioned in...
December 31, 2012
VAT: Classification - VAT - Commissioner of Taxes is directed to adopt the twin test for determining the classification, meaning thereby the common parlance test such as the...
December 29, 2012
I.Tax: Deductions - In Respect Of Profits And Gains From Industrial Undertakings, Or Enterprises Engaged In Infrastructure Development - Notification
December 29, 2012
DGFT: Procedure for Incremental Exports Incentivisation Scheme - Public Notice
December 29, 2012
DGFT: Amendment in Chapter 3 Schemes of Foreign Trade Policy - Incremental Exports Incentivisation Scheme Reg. - Notification
December 29, 2012
VAT: Principles of natural justice - If the requirement of an opportunity to show cause is not read into the said Rule, an action thereunder would be open to challenge as...
December 28, 2012
FEMA: Exim Bank's Line of Credit of USD 250 million to the Government of the Republic of Mozambique - Circular
December 28, 2012
FEMA: Exim Bank's Line of Credit of USD 19 million to the Government of the Co-Operative Republic of Guyana - Circular
December 27, 2012
Indian Laws: SERVICE TAX ON REIMBURSEMENTS IS ULTRA VIRES - Article
December 27, 2012
Indian Laws: Reimbursement of expenses is not part of charges for taxable services, Rule providing inclusion is ultravirse the Act. - Article
December 27, 2012
Cus.: Tax defaulter - former director in the company - the directors of any company, whether public limited or private, are not personally liable for the debts of the company...
December 27, 2012
I.Tax: Interest u/s 2(28A) - Taxability and TDS u/s 195 - discounting bills of exchange and promissory note - discounting charges did not amount to interest and was not subject to tax - HC
December 27, 2012
I.Tax: Internet/web site expenses - Capital v/s Revenue - internet/website expenses incurred by the assessee are revenue in nature - AT
December 27, 2012
I.Tax: Disallowance of depreciation on discarded assets – when the assessee has received the compensation for discarding of the assets, than even the same has not been...
December 27, 2012
VAT: VAT - Sale of used cars - Not incidental or ancillary to the manufacture /sale of pharmaceutical products - value not to be included in the total turnover - HC
December 27, 2012
Indian Laws: RIGHT TO INFORMATION RULES, 2012 - Notification
December 26, 2012
S.Tax: Refund of input service tax credit for the activities undertaken within the SEZs - As the appellant has exported the output service the principle of unjust enrichment...
December 26, 2012
S.Tax: Reverse charge - revenue neutral - extended period of limitation - it cannot be said that there was mis-declaration or suppression in the action of the appellants...
December 26, 2012
I.Tax: Deduction u/s 80-IA - Diagnostic Centre - an industrial undertaking - While the benefit which might flow to the general public if diagnostic facilities are deemed...
December 26, 2012
I.Tax: Assessment in case of search or requisition - while a certain degree of hardship which would occur to any assessee whose premises are searched, that does not afford it...
December 26, 2012
I.Tax: Re opening of assessment - even the question whether the petitioner was afforded a reasonable opportunity could be gone into by the CIT( Appeals) before whom the appeal...
December 26, 2012
I.Tax: Applicability of sec 50 C on transfer of Leasehold Rights – provision of Section 50C would not be applicable on the transfer of lease hold rights on the land. - AT
December 26, 2012
I.Tax: Sale of Software – Royalty – TDS u/s. 195 - the right that is transferred in the present case is the transfer of copyright including the right to make copy of software...
December 26, 2012
I.Tax: Revisionary u/s 263 - The observations of CIT clearly indicate that he invoked the doctrine of lifting the veil. The doctrine of substance or form is generally...
December 25, 2012
S.Tax: Rent-a-cab service - it appears that the buses did not fit in the definition of "cab" under Section 65(20) - AT
December 25, 2012
I.Tax: Unexplained income u/s 68 - the concept of “shifting onus” does not mean that once certain facts are provided, the assesse’s duties are over. If on verification, or...
December 25, 2012
I.Tax: Non deduction of TDS - Merely because some managerial skill is required to render the services, it would not make the services to be managerial services as envisaged in...
December 25, 2012
Indian Laws: Frequently Asked Tax Questions by Qualified Foreign Investors (QFIs)
December 25, 2012
I.Tax: Deduction u/s 80IA - assessee is entitled to a deduction on the entire profits of one priority industry without deducting loss in the other priority industry - HC
December 25, 2012
I.Tax: Short Notice Pay for Termination of Toll Manufacturing Agreement – Capital vs Revenue Expenditure – Business expediency was not established by the assessee - Expenditure...
December 25, 2012
I.Tax: Sale of land – repayment of the mortgage debt - assessee cannot claim the redemption amount as deduction under the unambiguous provisions of section 48 to arrive at the...
December 25, 2012
I.Tax: Re opening of assessment – the AO cannot enter into jurisdiction for reassessment u/s 147/ 148 when there was time left for completion of assessment under section 143(3)...
December 25, 2012
I.Tax: Trading Additions – rejecting of books of accounts - even if the books having been rejected, no addition is called for - AT
December 24, 2012
S.Tax: Services of life insurance business - (a) Janashree Bima Yojana (JBY) and (b) Aam Aadmi Bima Yojana (AABY)on - exempted from service tax - Notification
December 24, 2012
Indian Laws: Companies Bill, 2012 [As Passed by Lok Sabha]
December 24, 2012
Indian Laws: COMPARATIVE STUDY OF - Companies Bill, 2011 and Companies Bill, 2012

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H: Validity of assessment orders - The High court examined the timeline o...

H: Levy of penalty u/s 271(1)(c) - The Tribunal found no justification fo...

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A: WRONG FIXATION OF FEES PAYABLE TO INTERIM RESOLUTION PROFESSIONAL

A: MANNER OF FILING APPEAL BY COMMISSIONER

A: Recovery proceedings not to be initiated against the former director o...

H: Penalty proceedings u/s. 271(1)(b) - non-compliance with the 3 notices...

H: Validity of reopening of assessment u/s 147 - Reason to believe - Addi...

H: Rejecting registration u/s 12A(1)(ac)(iii) - name mismatch between the...

H: Denial of benefit u/s 115BAA of reduced rate of tax @22% - Domestic Co...

H: Prohibition of Benami Transactions - Provisional attachment order was ...

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H: Seeking amendment of bill of entry - The High Court acknowledged the o...

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