Home Highlights July 2014 Year 2014 This

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1. Voluntary Reporting of Estimated Current Income and Advance Tax Liability - CBDT issues draft notification

2. Liability for payment of advance tax - Amalgamation of company - whether the Company is obliged under the Act to pay advance tax between 1-04-2016 and 20-03-2017 for the...

3. Transitional credit - Unutilized amount of Advanced VAT paid - The court found that if the amount of advance tax paid under the VAT regime remained unutilized, it should...

4. Interest u/s 234C - interest for deferment of advance tax - If on a particular due date for payment of advance tax, the facts show that there is no liability to pay...

5. Liability to pay tax under the U.P. Motor Vehicles Taxation Act, 1997 - the requirement under law is to first pay the tax in advance as provided under Section 9 and...

6. Scope of Advance Ruling application - Input Tax Credit - When the applicant is sure as is evident in the application that tax has not been paid in cash or has been paid...

7. Estimated addition @ 25% of the advance booking receipt on shops/flats by the AO u/s 68 - Since the project could not be further carried out due to legal bar the...

8. Adjustment of excess service tax paid in advance - the intention of paying advance should be made clear immediately after the payment - it can be seen that the said...

9. Maintainability of appeal before CIT(A) u/s 249 (4)(b) - failure to pay advance tax - Once the assessee alleged that his income is not taxable during the provisions of...

10. Assessee in default - TDS u/s 194A - interest paid/credited to its customers - Interest other than interest on securities - In order to treat a person as assessee in...

11. Eligibility to make adjustment of excess service tax paid against future service tax liability - Claim of Excess service tax paid due to issuance of revised invoice -...

12. Denial of credit of advance tax paid by assessee - filing of application before CBDT u/s 119(2)(b) for condonation of delay in claiming the advance tax credit - AO erred...

13. Interest u/s 234B and 234C charged for default in payment of advance tax - assessee has submitted certificate from the Punjab National Bank that the cheques issued by...

14. Adjustment of advance of service tax was paid but had not been shown in the ST-3 Return as advances and not been adjusted subsequently - Under Rule 6 of the Service Tax...

15. Demand of service tax - The appellant argued that it was engaged in the construction of false ceilings and was a sub-contractor for the main contractor, who had...