Home Highlights April 2013 Year 2013 This

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1. Compounding of offence - restricted goods or prohibited goods - import of Gold - when ‘restricted goods’ in absence of proper authorization cannot be treated as...

2. Provisional release of the goods - Water Melon Seeds - prohibited goods or restricted goods - the Watermelon seeds are restricted goods but they cannot be treated as...

3. Nature of Interest income - first ground of appeal of the assessee for treating expenses to the amount as revenue expenditure is dismissed. However, the alternative...

4. Taxability as Fee for Included Service (FIS) u/A 12 of India-USA DTAA - As per Example 7 of the Memorandum of Understanding to India-USA DTAA, a receipt cannot be...

5. Prohibited goods - import of Crude Palm Oil (Edible Grade) - acid value was 9.77 in the sample - mported goods is not for immediate use as a food item as declared -...

6. Initiation of CIRP - Requirement of mandatory service of notice u/s 8 - After the transfer of winding up proceedings as per Rules 2016 read with amendments made in...

7. Import of goods without having the IE Code at the time of importation - No doubt penalty can be imposed for rendering the goods liable to confiscation. - But, for the...

8. Arbitration award - Share Purchase Agreement (SPA) - What the law prohibits under Section 18A read with Section 16 read with the SEBI circular of 1st March 2000 is not...

9. Prohibited goods - areca nuts - So far as the prohibition under the notification issued by the DGFT is concerned, it is based on the CIF value, i.e., the transaction...

10. Classification of goods - mill processed non-allow ferrous waste metal goods wound in a coil - goods has been treated as waste material or not - The metal waste is...

11. Status of the partnership firm treated as AOP - partnership deed is executed on an inadequate stamp paper - Department is accepting all the genuineness of existence of...

12. TDS liability u/s 195 - Income accrued in India - fees for technical services - thus Solutions provided by the Applicant without human intervention cannot be treated as...

13. Grant of depreciation on Solar Power Plant (“SPP”) - Year of assessment - block of asset - On account of some technical ground, if it is denied in this year, then it...

14. Benefit of exemption - the debit of any amount under the DEPB Scheme is a mode of payment of duty on the imported goods and the goods cleared under DEPB Scheme cannot be...

15. Import of prohibited item - old and used multifunction devices and printers - the impugned goods are to be considered as ‘other wastes’ and the prohibition, applicable...