INCOME TAX REPORTS (ITR) HIGHLIGHTS
F Assessee entitled to benefit under article 12(2) of DTAA between India and Germany : Director of I. T. (International Taxation) v. Chiron Bearing GmbH and Co,. (Bom) p. 115
F Assessee transmitting customized electronic data to its clients entitled to special deduction under section 80HHE : CIT v. Malhar Information Services (Bom) p. 119
F Exemption under section 54B not available to assessee where she had not established land was being used for agricultural purpose for a period of two years prior to date of transfer : Smt. Asha George v. ITO (Ker) p. 123
F Royalty deductible where assessee allowed to use know-how and information : CIT v. Artos Breweries Ltd. (AP) p. 133
F Certificate for deduction at lower rate issued to principal officer of M unit : Assessee not in default merely on ground certificate not issued in name of B unit : CIT v. Parle Biscuits P. Ltd. (P&H) p. 138
F Addition made on basis of statement under section 132(4) justified : Bhagirath Aggarwal v. CIT (Delhi) p. 143
F Estimation of profit element : Tribunal applying twelve and half per cent. justified : CIT v. Sathyanarayan P. Rathi (Guj) p. 150
F Notional loss on account of change in rates of foreign exchange allowable : CIT v. Wipro Finance Ltd. (Karn) p. 153
F Remuneration paid to partners within statutory fixed limit allowable : CIT v. Great City Mfg. Co. (All) p. 156
F Demand stayed pending disposal of appeal before CIT (A) : Deloitte Consulting India P. Ltd. v. Asst. CIT (Bom) p. 160
F No addition as undisclosed income in hands of assessee on ground business belonged to him : CIT v. Kuldeep Sood (Delhi) p. 166
F Power subsidy received from State Government revenue receipt : CIT v. Rassi Cements Ltd. (AP) p. 169
F Genuineness of transaction : Opportunity should be given to assessee to cross-examine disputant : Sri Krishna Educational and Social Trust v. ITO (Mad) p. 178
F Upgrading facilities of college including for purchase of library books and improvement of infrastructure not a ground for denial of exemption : Tolani Education Society v. Deputy Director of I. T. (Exemptions) (Bom) p. 184
F Corporate membership to golf club obtained for running business with a view to produce profit revenue expenditure : CIT v. Groz Beckert Asia Ltd. (P&H) [FB] p. 196
F Warrant of authorisation in names of firm, assessee and his wife valid : Hemendra Ranchhoddas Merchant v. DIT (Investigation) (Bom) p. 206
F Authority entertaining belief that assessee secreted certain documents relevant for purpose of investigation of matter relating to evasion of tax : Assessee cannot stall proceedings on ground of lack of jurisdiction to issue warrant : Dr. P. G. Viswanathan v. Director of I. T. (Investigation) (Mad) p. 217
F Should gains on sale of carbon credits be liable to income-tax ?-T. N. Pandey, Retd. Chairman, CBDT p. 33
F Utilisation of long-term capital gains, some suggestions-Dr. J. C. Agarwal p. 46
F What the budget could have done ?-S. Rajaratnam, Retd. Member, I. T. A. T. p. 41
| COMPANY LAW INSTITUTE OF INDIA PVT. LTD. No. 2, Vaithyaram Street, T.Nagar, Chennai - 600017. Phone: (044) 24350752 - 55 Fax: (044) 24322015 info@cliofindia.com |
ITR'S TRIBUNAL TAX REPORTS (ITR (Trib)) HIGHLIGHTS
F Cash credit : Income estimated by AO liable for addition u/s 68 : Asst. CIT v. Mir Mazharuddin (Hyd) P. 314
F Penalty : Where no valid return filed within time, entire income considered as concealed income : T. V. Magaadevan v. Dy. CIT (Chennai) P. 343
F Interest on FDs and bank accounts on surplus funds not derived from assessee's business and to be excluded : Tessitura Monti India P. Ltd. v. ITO (Mumbai) P. 329
F Where department accepting value as value of opening stock in subsequent year, additions not proper : Asst. CIT v. Satish Estate P. Ltd. (Chandigarh) P. 349
F Capital gains : Transfer of development rights to builder by all flat owners not a capital asset, not taxable as no cost of acquisition involved : Asst. CIT v. IGE India Ltd. (Mumbai) P. 365
F Allotment of additional floor space to assessee not assessable as dividend and not taxable : Asst. CIT v. IGE India Ltd. (Chennai) P. 365
F Disallowance of leave encashment invalid and deductible u/s 43B(f) : Eimco Elecon (India) Ltd. v. Addl. CIT (Ahd) P. 380
F Interest on borrowed capital used for business purposes disallowed u/s 14A : Eimco Elecon (India) Ltd. v. Addl. CIT (Ahd) P. 380
F Expenditure on software licence fees deductible u/s 37 : Eimco Elecon (India) Ltd. v. Addl. CIT (Ahd) P. 380
F DRP : Non-speaking order not valid : Panasonic Consumer India P. Ltd. v. Asst. CIT (Delhi) P. 390
F Income : Interest on money borrowed cannot be disallowed u/s 14A : MSA Securities Services P. Ltd. v. Asst. CIT (Chennai) P. 400
F Cash credits : Onus on assessee to prove identity, creditworthiness of creditor, genuineness of transaction not to prove source of creditor : Harish Kawadmal Bajaj v. ITO (Pune) P. 411
F Expenses incurred to protect business assets allowed and depreciation not disallowed on ground of non-user : Kansai Nerolac Paints Ltd. v. Dy. CIT (Mumbai) P. 424
F Deduction of one-tenth of expenditure allowable on expenses incurred on issue of rights shares : Kansai Nerolac Paints Ltd. v. Dy. CIT (Mumbai) P. 424
| COMPANY LAW INSTITUTE OF INDIA PVT. LTD. No. 2, Vaithyaram Street, T.Nagar, Chennai - 600017. Phone: (044) 24350752 - 55 Fax: (044) 24322015 info@cliofindia.com |
----- Forwarded Message -----
From: "info@cliofindia.com" <info@cliofindia.com>
To: newsletter@cli.in
Sent: Saturday, 9 March 2013 5:37 AM
Subject: Pre-Print Highlights of GSTR from CLI
From: "info@cliofindia.com" <info@cliofindia.com>
To: newsletter@cli.in
Sent: Saturday, 9 March 2013 5:37 AM
Subject: Pre-Print Highlights of GSTR from CLI
GOODS AND SERVICE TAX REPORTS (GSTR) HIGHLIGHTS
|
__._,_.___
No comments:
Post a Comment