While calculating the turnover for the purpose of levy of ...

VAT and Sales Tax

May 9, 2014

While calculating the turnover for the purpose of levy of penalty, the turnover are to be excluded and only those turnover which are estimated having reference to a specific concealment alone invite the penal provisions - HC

View Source

← Previous Next →

While calculating the turnover for the purpose of levy of ...

VAT and Sales Tax

May 9, 2014

You may also like:

Levy of penalty - discrepancy in turnover - requirement of adding gross profit and freight charges to the purchase value - The Madras High Court concluded that the levy...

TP Adjustment - comparable selection - upper turnover filter - The assessee submits that the turnover of the assessee is only Rs. 124 Crores during the relevant previous...

Deduction u/s 10A - since the export turnover forms part of the total turnover, if an item is excluded from the export turnover, the same should also be reduced from the...

Excise duty & Sales Tax to be excluded from turnover for computing deduction u/s 80HHE - AT

Penalty levied u/s. 271(1)(c) - estimated rate of profit applied on the turnover of the assessee - in the case on hand the Assessing Officer has only estimated the Gross...

Valuation - inclusion of discount in assessable value - Either the Assessing Officer could have added on the discount to the returned turnover or taxed the estimated...

Levy of tax on lotteries - Valuation - when prize paid by the distributor/agent is not contemplated to be excluded from the value of taxable supply, we are not persuaded...

Deduction u/s 10A - what is excluded from ‘export turnover’ must also be excluded from ‘total turnover’, since one of the components of ‘total turnover’ is export...

Quantum of penalty - suppression of taxable turnover - imposition of penalty at 200% was excessive and levy of penalty at 100% would meet the ends of justice.

Levy of penalty u/s.271(1)(c) - estimation of disallowance at 50% of commission and improvement expenditure - in this case, the additions were made on the basis of...

Deduction u/s 10A - AO directed to exclude the expenditure incurred in foreign currency which was excluded from export turnover from the total turnover for the purpose...

Computation of deduction u/s 10B - Even in the common parlance, when the object of the formula is to arrive at the profit from export business, expenses excluded from...

Penalty u/s 271(1)(c) - Penalty order did not specify the particular limb under which penalty u/s 271(1)(c) is levied. AO has not specified that penalty is either levied...

Levy of penalty u/s 158BFA(2) - penalty has been levied on the amount of undisclosed income without providing any working of maximum and minimum penalty leviable - No penalty - AT

Penalty u/s 271B - Determination of turnover of the assessee for Tax Audit u/s 44AB - turnover in respect of the speculative transactions shall be positive and negative...

Quick Updates: