Home Highlights February 2014 Year 2014 This

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1. When the assessee claims that high sea sales were effected in favour of three parties, with no appropriation definitely made on the bulk quantity imported, we do not...

2. 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...

3. Nature of expenditure - Disallowance of repair and maintenance charges - The assessee has taken a plea that no new asset is created or no benefit of enduring nature has...

4. Demand of Service tax - out of total income parking of Rs. 3,88,45,204/- an amount of Rs. 9,63,645/- only pertains to the monthly parking income in respect of parking...

5. Classification of supply - bundled service or not - right to use of car/two wheeler vehicle parking space along with the sale of under constructed apartments - it is...

6. Unexplained cash - It is difficult to comprehend that when the assessee was neither the partner nor the director nor the owner of the said company then how the cash can...

7. Validity of Survey proceedings u/s 133A conducted in absence of assessee - Manner of conducting survey u/s 133A - There was a time gap of more than 3 ½ years between the...

8. Benefit u/s 11(1A) - Once the AO has accepted the plea that transfer took place in AY 2008-09 and assessed income under long term capital gains in the hands of Assessee,...

9. Agricultural income - When all the documents have been brought on record by the assessee during assessment proceedings but not examined by the AO assessee cannot put...

10. TDS u/s 192 - non deduction of TDS on Cash medical benefit to employees - treating the assessee as, “assessee in default" - time limit for issue of notice u/s 201 - the...

11. Allowability of the deduction u/s 80-IAB with regard to car parking rental - nexus with the business carried on by the assessee - The provision of car parking services...

12. Disallowance of deduction claimed u/s. 80IA(4)(iii) in respect of profit derived from "Industrial Park Salarpuria Softzone - The deposits interest from BESCOM which was...

13. Classification of ‘Knitted Fibres Shed Net’ - the ‘Knitted Fabrics Shed Nets’ manufactured by appellant will be appropriately classifiable under Chapter 60 of the...

14. Write-off or waiver of advance given to its subsidiary - Since we have accepted the plea of the assessee for deduction of the said sum in terms of Sec. 36(1)(vii) of the...

15. Works contract - supply, laying and spreading of ready mix concrete - No justifiable ground to accept that on the mere absence of the word "works contract" in the...