Home Highlights March 2012 Year 2012 This

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1. Rs 10000 crore of tax fee bonds for power sector

2. Provisional release of detained goods - The department's insistence on a 100% bank guarantee of Rs. 25,00,000/- was deemed arbitrary and onerous, especially considering...

3. Exemption limited increased to Rs. 25,00,000 against Leave encashment by the employees other than an employee of the Government - Income Tax Notification

4. Penalty u/s 271B - no tax audit conducted u/s 44AB - bonafide belief - When Gross profit is more than Rs.4 crores, it means the Gross Receipts were definitely more than...

5. During The Financial Year 2012-13 - Tax-Free, Secured, Redeemable, Non-Convertible Bonds - Notification

6. Unjust enrichment - during investigation appellant deposited an amount of Rs.18,75,000/- under protest by debit entries in the cenvat credit account - refund allowed - AT

7. KVAT Act - demand of additional security f Rs.50,00,000/- - orders demanding additional security and registration cancelled set aside - matter remanded for fresh decision - HC

8. Search and seizure - Claim of interest under section 132B(4) - The petitioner claims that an amount of Rs. 1,60,000 seized from him was neither appropriated nor treated...

9. Direct tax collections for FY 2023-24 as of 17.06.2023 show net collections of Rs. 3,79,760 crore, a growth of 11.18% compared to the preceding year. - Gross collections...

10. Appeal against the stay order - non compliance of stay order - Instead of 60%, appellant directed to pre-deposit 4 crores within 6 weeks. - HC