Home Highlights July 2014 Year 2014 This

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1. Whether the assessee had a PE in India - it is observed that the contractee is to provide office space with some other facilities to the employees of the assessee in...

2. Correct head of income - surplus arising from the transfer and assignment of right, title and interest in the agreements for acquisition of office premises - Tribunal...

3. Eligibility to claim depreciation at higher rate - DRP rejected the claim on the premise that the Solar Power Plant is installed at the roof top of office building for...

4. Disallowance of additional depreciation - the fact remains as per this proviso the assessee is only required to acquire and install the machines, which in this case has...

5. Disallowance of interest u/s 36(1)(iii) incurred on money borrowed & invested for purchase of office premises - the interest has been rightly claimed as business...

6. Disallowance of excess interest paid - diversion of funds for non-business purposes - It is immaterial how the loan was treated by the Director - as far as the assessee...

7. Electricity meter installed in consumers premises and hire charges collected – no service tax

8. CENVAT Credit - input services - air travel agency - There is no denial to the fact that the air-travel agency service, in the present case has been used for business...

9. Disallowance of proportionate interest u/s 36 (1) (iii) - when assessee had sufficient funds, why should it depend on borrowed funds. In any case, if at a given point of...

10. Assessment of notional interest on loans - loan has been granted by the assessee to its sister concern - As per the provisions of Sec. 36(1)(iii) AO could have...

11. Depreciation on plant machinery installed at customer's site free of cost - AO’s objection was that since the equipments in question had not been installed at the...

12. Classification of goods - rate of GST - erecting and commissioning of lifts installed for domestic use - the rate of GST on the services covered under 995466 is...

13. Interest expenditure - assessee had availed loan at the interest rate of 12% p.a., whereas, it has advanced loan to a sister concern by charging 9% interest p.a - The...

14. Disallowance of interest made or borrowed funds - Even before us also, general submissions have been made that the amounts have been utilized for commercial expediency...

15. Depreciation on plant and machinery - plant and machinery were installed at customer's premises - It cannot be said that the equipment in question had not been used for...