Home Highlights June 2013 Year 2013 This

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1. Source of Income of Public Servant or Ostensible Owner - Addl. CIT - Abuse of official position, as public servant - possession of disproportionate assets - This Court...

2. Penalty u/s 271 AAB or u/s 271 (1)(c) - concealment on income - as per clause (2) of section 271AAB, no penalty under the provisions of clause (c) of sub-section (1) of...

3. Levy of penalty - taking CENVAT Credit irregularly - it is the contention of the Assessee that there is some element of discretion available in the adjudicating officer...

4. Penalty u/s 271(1)(c) - accrual of income for assessee society - In assessee`s appeal assessing officer treated contribution towards welfare Fund and Hospital Fund as...

5. Research and Development expenses (R&D Expenses) - Allowability of expenses u/s 35(2) - The expenses are not covered u/s 35(2) - The assessee has not claimed the same...

6. Seeking GST registration to be effective from retrospective effect i.e. 1.7.2017 - Migration from erstwhile tax laws to GST - Bonafide error in making application - The...

7. Penalty u/s. 271(1)(c) - recording of specific finding or not? - In para 7 of the penalty order u/s. 271(1)(c), the Assessing Officer held that it is found to be a fit...

8. Addition u/s 40A(2) - assessee has paid interest to certain related parties and treated interest rate @ 15% reasonable and disallowed excess rate paid to related parties...

9. Penalty u/s 271(l)(c) - recognization of revenue as per AS-9 - Section 43CB has been inserted w.e.f. 1/4/2017. Hence Section 43CB is not applicable to the year under...

10. FEMA (Transfer or Issue Of Security By A Person Resident Outside India) - Sixth Amendment – Amendment In Regulations 2, 5, 10, 12 And Schedules 1, 2, 5, 6 & 7 - Notification

11. Scope of the DTVSV scheme - As under the DTVSV Act, 2020 each appeal, writ petition or SLP is treated as a separate dispute which is evident from Section 2(1)(j) read...

12. Recovery of dues u/s 179(1) - seeking recovery of unpaid tax of the said company and penalty under section 271(1)(c) of the Act of the same company from the director - A...

13. LTCG - Deduction u/s 54B - investment in the name of wife - purchase of new agricultural land - Wife of the appellant cannot be termed as an ‘assessee’ as per Section 2...

14. Income accrued in India - taxation of interest income - assessee is a company incorporated and fiscally domiciled in the Republic of Japan - For interplay of Article...

15. Disallowance of interest as per provisions of Section 36(1)(iii) pertaining to interest free advances made treating the same to be not for the purpose of business of the...