Home Highlights April 2016 Year 2016 This

You may also like:

1. Liabilities can be deducted on pro-rata basis under W.T. Act - AT

2. Automatic Reduction/Enhancement upto 10% Duty saved amount and pro rata Reduction / Enhancement in export obligation

3. Depreciation on the Wind Mill on pro-rata basis – CIT(A) has rightly allowed the depreciation on the pro rata basis on the cost of foundation to the extent of the civil work - AT

4. CENVAT Credit - input service distribution - before amendment in rule 7, there was nothing in the statute requiring pro rata distribution.

5. Allowability of the interest paid to the partner by the assessee firm calculating on the opening balance of the capital account of the partner without considering the...

6. Deduction u/s 80IB - provisions should be interpreted liberally - even if the units constructed are both smaller and larger units with reference to the stipulated area,...

7. Expenditure owing to distribution of gifts to members/staff - expenditure allowed - AT

8. CENVAT Credit - plastic crates were being used for the safe transportation of the goods from the place of the manufacture to the place of consignee and the cost of...

9. Assessment u/s 153A - excess jewellery found in the residence of the assessee during the search - all the family members are income tax payee and are filing their...

10. Deemed dividend u/s 2(22)(e) - an advance or loan to to any concern in which such shareholder is a member or a partner and in which he has substantial interest - the...