Home Highlights August 2013 Year 2013 This

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1. Imposition of penalty u/r 15(2) of CCR, 2004 - CENVAT Credit - No evidence of fraud, collusion, wilful misstatement, suppression of facts which are essential conditions...

2. Penalty imposed under section 272A(2)(k) - delay in filing TDS statements - imposition of penalty under section 272A(2)(k) is not mandatory as the provisions of section...

3. Violation of section 76(2)(a) of the RVAT Act - Imposition of Penalty u/s 76(6) - Penalty confirmed - HC

4. Penalty u/s 271D - violation of provisions u/s 269SS - cash receipt claimed as advance against sales - recording of the satisfaction by the AO is sine qua non for...

5. 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

6. Levy of penalty - Whether imposition of penalty under Section 43(2) of the Orissa Value Added Tax Act, 2004 (OVAT Act) can only be levied if the escapement is “without...

7. Classification of supply - supply of services or not - Activities of a liaison office - The applicant has claimed that they are not “person” as per Section 2 (84) of...

8. Excess rent paid to the related party - Disallowance invoking the provision of section 40A(2)(b) - Since this definition provided u/s 56(2) is only for the said clause...

9. Prohibited activities for investment by a person resident outside India - FDI - FEMA - New Regulations

10. Investment in Depository receipts by a person resident outside India - FEMA - New Regulations

11. Investment by a person resident outside India in an Investment Vehicle - FEMA - New Regulations

12. Levy of penalty u/s 25(1) of the Central Excise Rules, 2002 - evasion of duty - The imposition of penalty on both the appellants is un-called for - since Appellant No.1,...

13. Definitions - Regulation 2 of the FOREIGN EXCHANGE MANAGEMENT (FOREIGN EXCHANGE DERIVATIVE CONTRACTS) REGULATIONS, 2000 as amended

14. Confiscation - importer - the definition of 'importer' under Section 2 (26) of the Customs Act, 1962 - AT

15. Valuation of imported goods - Related person - Merely because there were transfer of funds in India amongst three importers will not make them related persons in terms...