Home Highlights March 2013 Year 2013 This

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1. Valuation of imported goods - rejection of declared value - enhancement of value - The prices may fluctuate on account of the vagaries of market but the contractual...

2. Addition u/s 56 (2)(viib) - Valuation of shares - Faire Market Value (FMV) - the assessee has himself filed a valuation certificate before AO and accepted fair market...

3. Fair Market Value - Capital Gains - FMV represents the price that a seller is willing to accept and a buyer is willing to pay in the open market - the sale consideration...

4. LTCG - fair market value as on 1.4.1981 - The reasonable approach would have been to adopt the valuation in the Wealth Tax Assessment, since the Tribunal holds that the...

5. Valuation of property - wealth tax - there is no material produced before us by the Revenue to show that the written down value does not represent the market value of...

6. Valuation - supply to distinct persons - the law provides the taxpayer an option to adopt 90% of the price charged as value to be adopted initially (i.e., supply between...

7. Capital gain on sale of shares - market price or agreed price - transfer of shares by obtaining interest free loans for a long tenure coupled with call option agreements...

8. Valuation of imported goods - PVC sheeting - rejection of declared value - rule 7 of Customs Valuation (Determination of Value of Imported Goods) Rules, 2007 requires...

9. Anti-Competition Act - Cartelization - Geep Industries is very clearly in a ‘bilateral ancillary cartel’ with the Panasonic, while Panasonic is found to be member of...

10. Wealth tax - Valuation - The market rates referred to by the assessee with regard to other properties which are almost at the rates fixed by the Revenue Authorities...

11. Deduction u/s 80IA - Where a basket of "market values" are available for the relevant period and relevant geographical area where the eligible unit is situated, the...

12. Valuation - transfer to branches located outside the State - the applicant shall adopt the open market value as per Rule 28(a) as well as also opt to value the same at...

13. 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...

14. Valuation of imported Rough Emerald - Correctness of valuation by the Government approved valuer of Natural Rough Emerald - No valuer can give exact valuation of rough...

15. Valuation of imported goods - rejection of declared RSP - There is nothing on record to show that the price labels were affixed to the imported goods and sold in the...