Home Highlights September 2012 Year 2012 This

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1. Addition of contract receipts - bogus activity - Estimation of income - The AO had made an addition to the assessee's income, alleging discrepancies in the contract...

2. Assessment u/s 153A - Undisclosed cash receipts - merely because some discrepancies were found in assessee’s books in the pre-search period of unaccounted sales, it...

3. Scope of the Advance Ruling - Whether the matter (case) was pending - Merely because an officer of customs contemplates that a question may arise, does not mean that the...

4. Smuggling - Norephedrine - misdeclaration of goods exported - prohibited goods or not - Needless to say that the test report is the basis for holding that the goods...

5. Charging enhanced rate of duty on the consignments in question on the basis of the impugned notification No. 103/2020-Customs (N.T.) dated 29th October, 2020 -...

6. Export of goods or not - supply of sunglasses from the retail outlet of the applicant at Terminal-3, IGI Airport (International Departure), New Delhi, to outbound...

7. Unexplained money u/s. 69A - “deemed income” - since the amount was not recorded in the books, it did not form the part of the Revenue Receipts of the Assessee. The...

8. Consulting engineers also allowed to pay service tax on receipt basis, CBEC amends POT Rules, 2011

9. Seeking removal of the materials lying in the Customs Bonded Warehouses without payment of Customs Duty - the assets lying in the Customs bonded warehouses cannot be...

10. Smuggling (illicit import) or goods of domestic origin - Betel Nuts - Seizure and confiscation of goods - The goods can be used, sold, re-sold etc. without any duty...

11. Calculation and Recovery of customs duty - auction sale of warehoused goods - the custom duty has to be paid on the basis of sale proceeds realised from the sale of the...

12. Levy of GST - Place and time of supply - IGST - validity of SCN - sale of duty free goods from the duty free shops (DFS) - The customs duty and IGST is leviable only on...

13. Income accrued India - applying the tax rate as per section 115A OR tax rate as per the DTAA between India and Spain - in all cases of concessional taxation on gross...

14. Capital receipt or revenue receipt – financial schemes in which deposits were collected from the Public - The assessee is merely a custodian of the deposit - not taxable...

15. Container storage charges - The High Court upheld the decision of the single judge, stating that since the goods were indeed confiscated by customs authorities while in...