Home Highlights August 2012 Year 2012 This

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1. The High Court held that by virtue of the non-obstante clause in the Kerala General Sales Tax Act, 1963 (KGST Act), it creates a first charge on the property of the...

2. Income Tax: Section 194-O of the Income Tax Act provides for deduction of tax at source (TDS) at the rate of 1% on the gross amount of sales or services facilitated by...

3. Acquittal of charge u/s 276CC - respondent has failed to comply with the provisions contained u/s 139(1) and he has submitted the income tax returns after a delay of 28...

4. Proposed amendment enables recovery of existing liabilities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from seized assets...

5. TDS u/s 194I - Transit Rent payable by the developer/ builder as Hardship Allowance / Rehabilitation Allowance / Displacement Allowance - Hardship due to dispossession -...

6. The High Court held that the Land Acquisition Officer (LAO) cannot be penalized u/s 201 and 201(1A) of the Income Tax Act, 1961 for non-deduction of TDS on compensation...

7. Wealth Tax Liability - Whether Club can be treated as "Association of Person"? - Charging provisions under the Income Tax versus under the Wealth Tax - This argument of...

8. TDS on hiring charges of tanker - TDS u/s 194C or 194I - Tax is required to be deducted at source from the payments to the carrier in terms of provisions of sec. 194-C...

9. TDS liability during the pendency of CIRP proceedings - Whether the provisions of u/s 194-IA of the Income Tax Act, 1961 are inconsistent with Section 53 (1) (e) of the...

10. The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

11. ITAT ruled that alternative accommodation charges paid to tenants under SRA scheme do not constitute consideration for share in land/building under development agreement....

12. TDS u/s 194I - lease premium paid to Mumbai Metropolitan Regional Development Authority (“MMRD") - lump sum lease premium or one-time upfront lease charges, which are...

13. Penalty u/s 271C - non deduction of tds - when the TDS had to be deducted the question whether TDS had to be deducted under Section 194-C or 194-I of the Act was not a...

14. Supplementary refund of unutilized input tax credit pertaining to Compensatory Cess - Section 164 of the GST Act empowers the Government to frame rules. Refund of...

15. The High Court upheld the constitutional validity of the Chhattisgarh Sthaniya Kshetra me Mal Ke Pravesh Par Kar Adhiniyam, 1976 (Local Body Tax or Entry Tax Act),...