Home Highlights May 2013 Year 2013 This

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1. Best Judgement Assessment - rejection of books of accounts - Though the Tribunal has recorded that the books of accounts were duly presented when the show cause notice...

2. MAT Computation of book profit u/s 115JB - Disputed central excise demand raised against the assessee - denial of writing back benefit to the assessee - We appreciate...

3. Difference in cash as per cash book and physical cash - The assessee made up the cash book later on to present that there was no difference. However, nothing of this...

4. Revision u/s 263 - Correct source of income - special rate of tax u/s. 115BBE - As per CIT income of the assessee should have been assessed as unexplained cash credit,...

5. Addition being 10 percent out of various expenses - books of assessee are duly audited under section 44AB of the Act - The Appellate Tribunal upheld the arguments...

6. Exemption from GST - supply of printing services like question papers, OMR sheets, Answer sheets, marks card etc., using his own paper and ink - Printing of test...

7. Levy of penalty u/s 54(1)(14) - no papers were produced despite the fact that goods were being imported from outside the State - There is always apprehension that in...

8. Classification of goods - rate of GST - supply of tissue papers - It is clearly evident from the description that GST rate of 12% is applicable only to Uncoated paper...

9. Rate of tax on tissue paper - @4% or 12.5% - The word 'paper' used in the Entry is in generic form, which will include all types of paper, which has its essential...

10. Benefit of Exemption as per notification – Use of Handmade paper in manufacturing -May be such paper is worst than handmade paper, but same cannot be equated with...

11. Writ petition against the order of Tribunal refusing to rectify the error which was apparent on record - to that extent the finding recorded by the Tribunal is perverse...

12. In view of the present situation, if it is not possible for the petitioners herein to sign the appeal paper book or the affidavits before the Appellate Tribunal, the...

13. Levy of penalty on additions of admitted amount during assessment proceedings - CIT(A) deleted the penalty - Company has already liquidated - when the respondent company...

14. Validity of Assessment u/s 153C - whether AO of the searched person has not recorded satisfaction note that the books of accounts/material belongs to the assessee ? - In...

15. Addition on difference between balance in account as per the books and the balance as per bank statement - cheques issued but not presented - addition can not be made...