Home Highlights July 2014 Year 2014 This

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1. ‘Fully Accessible Route’ for Investment by Non-residents in Government Securities - Circular

2. Investment by Foreign Portfolio Investors (FPI) in Government Securities - Medium Term Framework – Review - Circular

3. Investment by Foreign Portfolio Investors (FPI) in Government Securities Medium Term Framework – Review - Revision of Limits

4. Depreciation on securities - if the assessee has consistently treating the value of investment for more than two decades as investment as stock-in-trade and claim...

5. Disallowance of loss on sale of Government Securities - permissible business loss or not? - The Tribunal disagreed with the AO's presumption that the securities were not...

6. Addition u/s 68 - accommodation entry - unsecured loan shown under the head of trade payables - Though the objection that the assessee has not conducted any business and...

7. Initiation of CIRP - Period of limitation - it is well settled position of law that Annual Returns/Audited Balance Sheets can be referred to and relied on to see if...

8. Correct head of income - LTCG OR Business income - engaged in the business of building construction and land developers - land shown in balance sheet as investment - it...

9. Valuation - Section 67 - Associated enterprises - lease rent equalisation shown in Balance sheet - - The amount shown in the balance sheet is not an 'income' for the...

10. Nature of expenses - video shooting expenses claimed by the assessee as revenue expenditure in the computation of income but capitalized into the books of accounts and...

11. Short-payment of service tax on the basis of difference between the gross taxable value shown in the ST-3 Returns and receipts shown in the Balance Sheet - stay granted partly - AT

12. CIRP - Application filed u/s 7 of IBC dismissed on the ground of time limitation - After perusing the relevant balance sheets and director’s report, it is satisfied that...

13. Major amendments - Securities and Exchange Board of India (Collective Investment Schemes) (Amendment) Regulations, 2022 - Notification

14. Reversal of CENVAT Credit - creation of provisions in the balance sheet for the old and slow-moving inputs - On perusal of the balance sheet, it can be seen that the...

15. Maintainability of application - initiation of CIRP - Period of limitation after default - the Adjudicating Authority relied on the balance sheet to hold that there was...