Home Highlights January 2011 Year 2011 This

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1. ST on renting of property, retrospective operation stayed

2. Demand based on reconciliation of ST returns with the balance sheet - stay granted - AT

3. Renting of immovable property - SC grants conditional stay subject to deposit of 50% amount in three installments.... - SC

4. Stay of demand - guideline for stay of demand on payment of 20% of the disputed demand (earlier 15%) till the final disposal of the first appeal - Adjustment of future...

5. Oppression and Mismanagement - allegation of renting the premises on rent which would fetch higher rent if used as banquet hall - tribunal granted permission to let out...

6. Doctrine of mutuality - Income generated by Clubs with the Appellate Association - the income in dispute relates to pay and park charges, rent from Vodafone Tower, rent...

7. Exemption u/s 10(26B) - infrastructure capital fund - promotion of interest of members of SC, ST, OBC community only and the target group of the assessee are ‘ Safai...

8. Levy of service tax - renting of immovable property Service - charitable institution - If the petitioner felt that it was not liable to pay tax for renting of its...

9. ST - Whether the penalty imposable under the Finance Act, 1994 is automatic – Held no - HC

10. Extension of stay - third proviso to sub-section (2A) of Section 35C - power to extend the stay beyond the period that has been prescribed - stay extended - HC

11. Income from House Property - inclusion of Notional Interest - interest accrued on deposit cannot be added to the agreed rent, so as to make a fair rent or market rent - HC

12. Proportionate allowability of lease premium u/s 37 - it is difficult to appreciate that fact of rent being depressed rent can only be appreciated as such if there is...

13. Exemption from service tax - renting - The petitioner being a University recognized under the provisions of the UGC Act, 1956, has to be construed as an “educational...

14. Waiver of pre-deposit of service tax - Renting of immovable property - Hexplanation to renting of immovable property service is added w.e.f. 1.7.2010 - stay granted - AT

15. Renting of immovable property - There was no evidence to show that the notional interest on the interest free security deposit has influenced the consideration received...