Home Highlights April 2016 Year 2016 This

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1. Debts owed by the assessee have to be allowed on pro-rata basis - WTA - AT

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

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

4. 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

5. TDS u/s 196C - non deduction of TDS on premium/interest payable on redemption of FCCB by amortization on pro-rata basis of implicit rate of return - TDS is not liable to...

6. Approval of Resolution Plan - The Tribunal found the resolution plan’s treatment of operational creditors contrary to Section 30(2)(b) of the IBC, as operational...

7. 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...

8. CENVAT Credit - Input service distribution (ISD) - Parle was justified in distributing credits on input services attributable to the final product on a pro-rata basis...

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...