Home Highlights August 2012 Year 2012 This

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1. Penalty under section 271(1)(c) – assessee in bona fide belief that Dharmada collections were not part of its income but were diverted by an overriding title towards...

2. Classification of goods - toys, viz., Talking Parrot - bona fide belief - penalty, as imposed on the appellant/assessee is not justified in the facts of the present case - HC

3. Penalty u/s 271(1)(c) – In the garb of the bona fide claim an assessee cannot escape levy of penalty - Onus was not on the AO to prove the negative - AT

4. Remission of tax and penalty – Whether non-registration is a bona fide error u/s 41(1) of Gujarat VAT Act – all contentions of the petitioner rejected - HC

5. Penalty u/s 271C - the assessee has proved that there was reasonable cause for failure to deduct tax at source - penalty was righlty set asdide by the tribunal - HC

6. TDS u/s 192 - non deduction of TDS on Cash medical benefit to employees - treating the assessee as, “assessee in default" - time limit for issue of notice u/s 201 - the...

7. Penalty u/s 271(1)(c) - The Revenue may or may not agree with this understanding of law of the assessee but the fact that there can be a bona fide view to that effect...

8. TDS u/s 194A on Interest - non deduction of TDS due to direct adjustment by the Kotak Mahindra Ltd. – interest and penalty set aside - AT

9. Extended period of limitation - Business Auxiliary Service or not - sharing of revenue - the appellant had a bona fide belief in non payment of Service Tax. The...

10. Manufacture of Aluminium door and window frames – fabrication at site of the customers – bonafide belief as regards non-excisability of the product - demand beyond...