Home Highlights January 2011 Year 2011 This

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1. Penalty u/s 271(1)(c) - recording of satisfaction - penalty initiated u/s 143(3) order for concealment of particulars of income - penalty imposed for furnishing of...

2. Claim towards exchange fluctuation loss - for the purpose of depreciation, the cost of asset cannot be reduced or increased due to exchange rate fluctuation - allowed as...

3. Remission of duty on loss of goods - cement and cement clinkers - it can be safely concluded that the shortage is due to transit loss - demand set aside - AT

4. Stay of demand - demand arise due to non set of past losses - losses exhausted due to addition in earlier year and appeal against those orders are pending before...

5. Sharing of expenditure with group companies - demand under the BAS category prima facie not sustainable - assesse being paying service tax as BSS w.e.f. 1.4.2006, stay granted - AT

6. Fresh demand of income tax after the Approval of Resolution Plan - Demand of Income Tax Dues after completion of scrutiny process - From the tone and tenor of the...

7. Additional tax u/s 143(1)(a) - assessee claimed deduction, which were not permissible, and thereby not only tried to reduce the income to Nil, but also to carry forward...

8. Addition in an intimation order u/s 143(1) - AO/CPC jurisdiction to make an adjustment in an Intimation Order u/s. 143(1) - No intimation given to the assessee of such...

9. Refund of duty paid - remission of duty - In the present case, the quantity remains the same, the variation in KL is only due to density of the goods that due to...

10. Confirmation of demand beyond the scope of SCN - Though demand was not sustainable, the same was not contested - Therefore while confirming the appropriation of service...