Business loss - export incentive written off in the Profit Loss Account - the...
Income Tax - Dated - 25-11-2013 - Business loss - export incentive written off in the Profit Loss Account - the action of the assessee is premature - claim not allowed - Tri - TMI Tax Updates -...
View ArticleUnaccounted investment for the purchase of land - taxability in the hands of...
Income Tax - Dated - 25-11-2013 - Unaccounted investment for the purchase of land - taxability in the hands of individual assessee or company - Suspicion howsoever strong cannot take the place of...
View ArticlePayment made to Advocate for registration of patent rights in foreign...
Income Tax - Dated - 25-11-2013 - Payment made to Advocate for registration of patent rights in foreign countries - revenue expediture or capital expenditure in nature - held as revenue - claim allowed...
View ArticleRemission of Loan Liability - sales tax payable by appellant was converted...
Income Tax - Dated - 25-11-2013 - Remission of Loan Liability - sales tax payable by appellant was converted into loan - the same has been held to be a capital receipt - not taxable - Tri - TMI Tax...
View ArticleThe repayment was made, by debit entires - The provisions of Section 269-T...
Income Tax - Dated - 25-11-2013 - The repayment was made, by debit entires - The provisions of Section 269-T providing for deposits to be made over and above Rs. 20,000/- only by account payee cheque...
View ArticleCommission to sole selling agent - Reasonableness - There was no service...
Income Tax - Dated - 25-11-2013 - Commission to sole selling agent - Reasonableness - There was no service provided by the partners of M/s. Laxmi Co. in respect of manufacture and sale of production to...
View ArticleIncentive/ subsidy on sale of sugar The subsidy under the scheme was given...
Income Tax - Dated - 25-11-2013 - Incentive/ subsidy on sale of sugar The subsidy under the scheme was given for repayment of the term loans as the incentive to carry on business in the essential...
View ArticleWhether a new claim can be made in the reassessment proceedings In the...
Income Tax - Dated - 25-11-2013 - Whether a new claim can be made in the reassessment proceedings In the reassessment proceedings the assessee was not entitled to claim deductions under Section 80J -...
View ArticleValuation of goods - It will be improper if importer is asked to pay customs...
Customs - Dated - 25-11-2013 - Valuation of goods - It will be improper if importer is asked to pay customs duty as an amount more than what was the consideration for the transaction. - Tri - TMI Tax...
View ArticleGopal Dokania Versus CC, New Delhi - Customs - Case Laws
Gopal Dokania Versus CC, New Delhi - Customs - CESTAT NEW DELHI (LB) - Tri - Smuggling - Import of bulk (commercial) quantity of Chinese silk textiles - Import done in contravention of provisions of...
View ArticleSmuggling - Penalty - Interaction was not for supply of Indian goods but for...
Customs - Dated - 25-11-2013 - Smuggling - Penalty - Interaction was not for supply of Indian goods but for purchasing foreign goods and therefore it is difficult to accept the contention of the...
View ArticleImport of Shredded Steel Scrap - Consignment found to contain broken goods -...
Customs - Dated - 25-11-2013 - Import of Shredded Steel Scrap - Consignment found to contain broken goods - this is not a case of short landing but is more appropriately to be considered a case of...
View ArticleMSC Agency (India) Private Ltd. Versus Commissioner of Customs...
MSC Agency (India) Private Ltd. Versus Commissioner of Customs (Seaport-Import), Chennai - Customs - CESTAT CHENNAI - Tri - Import of Shredded Steel Scrap - Consignment found to contain broken goods -...
View ArticleImport of gold sovereigns - Mere declaring the value of the gold coins and...
Customs - Dated - 25-11-2013 - Import of gold sovereigns - Mere declaring the value of the gold coins and reflecting the same in their Income Tax Returns would not ipso facto establish that these gold...
View ArticleShort Payment of Service Tax Exemption from Penalty u/s 76 - Such exemption...
Service Tax - Dated - 25-11-2013 - Short Payment of Service Tax Exemption from Penalty u/s 76 - Such exemption cannot be claimed where a part of the demand of service tax survives - however stay...
View ArticlePenalty u/s 78 - Benefit of Section 80 - he had depended on his accountant as...
Service Tax - Dated - 25-11-2013 - Penalty u/s 78 - Benefit of Section 80 - he had depended on his accountant as he (Managing Partner) was busy pursuing his Ph.D. with since February 2007 - sufficient...
View ArticleM/S. EMTA COAL LIMITED (FORMERLY EASTERN MINERALS TRADING AGENCY) Versus...
M/S. EMTA COAL LIMITED (FORMERLY EASTERN MINERALS TRADING AGENCY) Versus COMMISSIONER OF CENTRAL EXCISE, BOLPUR - Service Tax - CESTAT KOLKATA - Tri - Recovery of CENVAT Credit - Special Additional...
View ArticleRecovery of CENVAT Credit - Special Additional Duty of Customs - reversal of...
Service Tax - Dated - 25-11-2013 - Recovery of CENVAT Credit - Special Additional Duty of Customs - reversal of cenvat credit shown in the revised return which was filed belated - stay granted - Tri -...
View ArticlePenalty u/s 76 - belated payment of service tax - any omission to suo moto...
Service Tax - Dated - 25-11-2013 - Penalty u/s 76 - belated payment of service tax - any omission to suo moto come forward and discharge their service tax liability could very well have been due to...
View ArticleCENVAT Credit - Any service provided for welfare of sugarcane grower and...
Service Tax - Dated - 25-11-2013 - CENVAT Credit - Any service provided for welfare of sugarcane grower and sugar cultivation is only to improve the condition for growing sugar and directly or...
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