Home Highlights January 2013 Year 2013 This

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1. Valuation made by the assessee exceeds the value adopted by the stamp valuation authority - No question of referring the valuation of the plots in question to the...

2. Power of CIT(A) in exercising power u/s 250(4) to accept remand report with regard to income as well as claim of expenditure made by assessee - if the Remand Report is...

3. Valuation of the shares offered for subscription - Determination of fair market value - Applicability of u/s 56(2)(viib) read along with Rule 11UA - Adoption of the Net...

4. Valuation of imported goods - rejection of declared value - enhancement of value - The CESTAT held that since the appellant had voluntarily waived the right to a show...

5. Capital gain on sale of land - Nature of land sold - agricultural land - calculation of shortest route - , although there is no doubt that conflicting reports were...

6. Asset management company - making any addition on account of load is not justified - AT

7. Claim of depreciation - Bifurcation of slump price into the value of tangible assets and intangible assets - Ultimately after the slump price has been attributed first...

8. CIRP - attachment on the assets of the property by the sales tax department - even when there is attachment of the assets, Sales Tax Department cannot be the owner of...

9. Exemption u/s 54F - assessee was owner of two flats on the date of transfer of capital assets, one was co-owned - owns more than one residential house - a co-owned...

10. Excess premium charged on issue of shares u/s.56(2)(viib) - The value adopted by the Assessing Officer under net asset value method even though a prescribed method does...

11. Enhancement made by the Ld. CIT(A) u/s 251(1) r.w.s. 56(2) (viib) - AO substituted fair market value determined by the assessee through his own valuation - Assessees...

12. Disallowance of depreciation - no business activity was carried out by the assessee company - The use of individual asset for the purpose of business may be examined...

13. The shed owned by the assessee was a business asset and in case of business asset, provisions of Section 23(1) are not applicable - No notional income (rent) can be computed - AT

14. Valuation - 100% EOU - clearance of bulk drugs made in DTA under Advance Release Order (ARO) - in the present case the Adjudicating Authority straight away jumped to...

15. Validity of order of Settlement Commission - acceptance of additional income disclosed by the assessee - Petitioner/Income Tax authority could not make out any...