Home Highlights December 2013 Year 2013 This

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1. TDS u/s 194C - nature of contract - works contract or sale purchase contract - purchase of footwear with logo from the job worker - transaction in the nature of sell and...

2. TDS - printing of question papers - The purchase of pre-printed material from the printer therefore amounts to contract for sale and not ‘work’ as defined in section 194C(1) - AT

3. Non deduction of TDS - purchase of printed material - contract for work and labour or contract for sale - provisions of section 194C are not applicable - AT

4. Open purchase order - inter-state sale or not - The Open Purchase Orders do not constitute any Contract. The Purchase Orders issued from time to time for supply of goods...

5. Work Contract vs Contract for sale – purchase of product - product manufactured out of raw materials supplied by a foreign company who had direct interest in assessee...

6. Speculation loss u/s 73 - it is apparent from computation that no part of the business of the assessee company consists of purchase and sale of the shares - Merely...

7. Recovery of sales tax dues - encumbered property or not - liability of auction purchasers - this is a clear case in which the Sales Tax Department had a charge on the...

8. Disallowance u/s. 40a(ia) - TDS - 'works' contract or contract of sale - the predominant object underlying the transaction of receiving the T-shirts and making the...

9. TDS u/s 194C - works contract - purchase of packing material with trade name, logo, particulars of product and other information printed on it - there is no works...

10. TDS u/s 195 - software expenses - the arrangement of the assessee company with its AE is of purchase of computer software at agreed price i.e. sale price to the Indian...

11. Nature of contract - sales or works contract - whether a contract for manufacture, supply and installation of lifts in a building is a “contract for sale of goods“ or a...

12. Valuation - sale of Gypsum - mere bifurcation of the sale price of the goods in a mutual contract between the parties under a separate bargain or even a common bargain...

13. Nature of expenditure - expenditure incurred for development of a new product including knowhow - Thus expenditure incurred by the assessee being technical consultancy...

14. Profit on purchase and sale of gold bonds - Except one transaction of purchase and sale, there is no other transaction during the previous year - held as investment in nature - HC

15. 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...