Home Highlights August 2012 Year 2012 This

You may also like:

1. Penal Charges paid to Sister Concern towards cost of storage - deduction disallowed - AT

2. Reimbursement of salary expenses of employees to the sister concern, who were deputed by the sister concern to the assessee does not require deduction of tax at source.

3. Deduction u/s 80IB - whether freight charges recovered from the customers are eligible for deduction under section 80IB ? - since the department has allowed the claim of...

4. Deduction u/s 80IB(11C) - additional income offered during survey - investment in building - excess cash found - while confirming the additions, deduction 80IB(11C) disallowed.

5. Interest free loan was advanced to the sister concerned - in the absence of any reference to any business transaction between the assessee and the sister concerns, the...

6. Interest expenses u/s 36(1)(iii) - Addition of interest component considering that there is no commercial expediency in lending to sister concerns - AR explained the...

7. Disallowance u/s 36(1)(iii) - interest expenses - The only plea of the assessee is that the assessee had mortgaged its property to avail bank loans for the sister...

8. Disallowance of depreciation on vehicle on the ground of personal use - Once the claim of depreciation on passenger vehicle is accepted by the AO then the depreciation...

9. CENVAT credit - captive consumption - steam produced by appellant used by sister concern - it would be determined whether the end products of the sister concern are...

10. Merely because, the assessee had leasing out the land to its sister concern for establishing RMC Plant with the understanding that the RMC would be supplied to it at...

11. Deduction under section 80IB - Nature of processing charges received by assessee - Assessee is engaged in the business of manufacturing of agro chemical products and...

12. Deduction u/s 80IC - manufacturing of plastic packaging products such as PET and HDPE bottles, jars, caps and closures - products manufactured by the assessee come...

13. Deduction u/s 80IB - Business of manufacturing of LED based products – Major manufacturing activity is done by the Job Worker - Further processing done by the assessee -...

14. Interest on borrowed funds disallowance - interest free loan given to sister concerns - The sister concern getting into litigation or involving itself in a arbitration...

15. Assessee has withdrawn its claim of deduction under Section 80IB, which was accompanied by revised return – assessee again claimed deduction - deduction allowed - AT