[aaykarbhavan] Fw: Pre-Print Highlights of GSTR from CLI, & I T R

www.cliofindia.com info@cliofindia.com

---

INCOME TAX REPORTS (ITR) HIGHLIGHTS

OnLine Edition Vol. 1				Print Edition Vol. 357, Part 3, dated 30-9-2013
SUPREME COURT	HIGH COURTS	ENGLISH CASES	CLB	SUPREME COURT	HIGH COURTS	ENGLISH CASES	CLB
SAT	DRAT	STATUTES	JOURNAL	SAT	DRAT	STATUTES	JOURNAL
NEWS-BRIEFS	AAR	TAXATION TRIBUNAL	CESTAT	NEWS-BRIEFS	AAR	TAXATION TRIBUNAL	CESTAT

ONLINE EDITION

HIGH COURT JUDGMENTS

F Business income :Remission or cessation of liability : Condition precedent for application of s. 41(1) : CIT v. Rayala Corporation P. Ltd. (Mad) p. 356

F Powers of CBDT u/s. 119 : Jay Vijay Express Carriers v. CIT (Guj) p. 363

PRINT EDITION

SUPREME COURT JUDGMENTS

F Writ petition against notices for reassessment : Assessee relegated to appeal : CIT v. Chhabil Dass Agarwal p. 357

HIGH COURT JUDGMENTS

F Notice of reassessment not valid where information forming basis for notice vague : CIT v. Insecticides (India) Ltd. (Delhi) p. 330

F Notice of reassessment not valid where requisite belief that income had escaped assessment not possible on basis of reasons recorded : G. S. Engineering and Construction Corporation v. Deputy DIT (International Taxation) (Delhi) p. 335

F Fresh claim by assessee regarding interest on investment in reassessment proceedings not to be entertained : Satyamangalam Agricultural Producer's Co-operative Marketing Society Ltd. v. ITO (Mad) p. 347

F Agricultural products grown by members of co-operative society for public distribution entitled to deduction under section 80P(2)(a)(iii) : Satyamangalam Agricultural Producer's Co-operative Marketing Society Ltd. v. ITO (Mad) p. 347

F Claim for deduction of penalty and fine under Customs Act, bogus claims to bill discounting charges and depreciation : Levy of penalty justified : Sharma Alloys (India) Ltd. v. ITO (OSD) (Mad) p. 379

F Revising authority has no power to remand and direct AO to conduct enquiry : Director of I. T. v. Jyoti Foundation (Delhi) p. 388

F Contract receipts shown in certificates assessed in hands of assessee : Assessee to be given credit for tax deducted at source : CIT v. Bhooratnam and Co. (AP) p. 396

F Export oriented unit : Training fees not entitled to exemption : Pentamedia Graphics Ltd. v. Asst. CIT (Mad) p. 403

F Clubbing of income of minors with income of mother on ground mother's income higher proper : Anju Mehra v. CIT (P&H) p. 416

F Effect of amendment of section 43B by Finance Act, 1988 : Cess and cess surcharge deductible in AY 1985-86 : Dalmia Cement (Bharat) Ltd. v. CIT (Delhi) p. 419

F Amounts collected as deposits towards possible levy of sales tax not trading receipt : Dalmia Cement (Bharat) Ltd. v. CIT (Delhi) p. 419

F Whether provision for bad debt is to be added while computing book profit : AO directed to redo assessment in the light of amended provisions : CIT v. Dhanalekshmi Bank Ltd. (Ker) p. 448

F No reassessment for any assessment year prior to 2001-02 : CIT v. Dhanalekshmi Bank Ltd. (Ker) p. 448

F Yield to maturity method valid : CIT v. Dhanalekshmi Bank Ltd. (Ker) p. 448

F Book profit : Authorities not considered provision authorising addition to book profit : CIT v. Dhanalekshmi Bank Ltd. (Ker) p. 448

F Exemption under section 10(10CC) : Multiple stage grossing up not applicable : Yoshio Kubo v. CIT (Delhi) p. 452

F Amount withheld by employer to fulfil commitment to pay particular salary : Not assessable as perquisites : Yoshio Kubo v. CIT (Delhi) p. 452

STATUTES AND NOTIFICATIONS

F Press Notes/Releases :
Date for filing of applications by electoral trusts extended up to 30th November, 2013 p. 36

Notification for extension of date for receipt of ITR-Vs in CPC, Bengaluru, for the cases of assessment years 2012-13 and 2011-12 received in e-filed in the financial year 2012-13 p. 1


F Rules :
Income-tax (Fourteenth Amendment) Rules, 2013 p. 6

Income-tax (Fifteenth Amendment) Rules, 2013 p. 16

Income-tax (Sixteenth Amendment) Rules, 2013 p. 19

Special Economic Zones (Amendment) Rules, 2013 p. 2

---

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

To Unsubscribe : Reply back with "Unsubscribe" in subject followed by the key word "ITR" or "CC" or "VST" or "CCD" or "ITR (Trib)" or "GSTR", respectively or "All" if you do not want any Email. ITR : Income Tax Reports, CC : Company Cases, VST : VAT and Service Tax Cases, CCD : Consolidated Commercial Digest, GSTR : Goods and Service Tax Reports, ITR (Trib) : ITR'S Tribunal Tax Reports. Also send your feedback or comments to info@cliofindia.com

----- Forwarded Message -----
From: "info@cliofindia.com" <info@cliofindia.com>
To: newsletter@cli.in
Sent: Saturday, 28 September 2013 5:46 AM
Subject: Pre-Print Highlights of GSTR from CLI

Rs. 1,530/- Paper Bound Edition (Two Volumes)

www.cliofindia.com info@cliofindia.com GOODS AND SERVICE TAX REPORTS (GSTR) HIGHLIGHTS ISSUE DATED 30.9.2013 Volume 22 Part 5 SUPREME COURT HIGH COURTS ENGLISH CASES CESTAT ORDER STATUTES JOURNAL NEWS-BRIEFS AAR SUPREME COURT F To avail of Modvat credit, input on which excise duty was paid must be used in manufacture of final products in factory of assessee : KCP Ltd. v. Commissioner of Central Excise . . 322 HIGH COURT F Rule 3(1) of Cenvat Credit Rules does not prohibit assessee to adjust benefit of Cenvat credit against its pre-deposit liability : Akshay Steel Works P. Ltd. v. Union of India . . 329 F Failure by adjudicating authority to consider documentary evidence produced by assessee to prove that there was no unjust enrichment, matter remanded to adjudicating authority for proper scrutiny of documents : Mangal Textiles Mills (I) P. Ltd. v. Union of India . . .332 F Tool kit and first aid kit to be part of vehicle before it could be put to use for the purpose of entitlement of Cenvat credit : Commissioner of Central Excise v. Honda Motorcycle and Scooter India P. Ltd. . . .337 F Payment of duty was made at concessional rate for some time and after its withdrawal duty was paid at full rate with interest upon realisation of mistake was inadvertent mistake with no intention to evade duty, setting aside of penalty proper : Commissioner of Central Excise Commissionerate v. Hawkins Cookers Ltd. . . . 345 F Merely because statements recorded without threat, duress, coercion or that witnesses at no stage retracted their statements cannot be ground for rejecting request for cross-examination : Commissioner of Central Excise v. Gujarat Cypromet Ltd. . . . 365 F Assessee ought to have been given reasonable opportunity of hearing before appropriation of amount towards alleged service tax due payable by assessee from the amount due to assessee as export duty rebate could not be sustained in the eye of law : Arunachala Gounder Textile Mills P. Ltd. v. Commissioner of Central Excise . . . 369 F Order demanding duty for non-compliance with conditions of Export Promotion Capital Goods Scheme set aside on ground that redemption letter issued by Ministry of Commerce and Industry stating that assessee had discharged export obligations and assessee need not be compelled to challenge order by filing appeal before Commissioner of Customs : Ankit Fasteners P. Ltd. v. Assistant Commissioner of Customs (EPCG) . . . 376 F Where payment of entire tax with interest was made prior to issue of show-cause notice, despite availability of Cenvat credit on service tax paid by assessee, being revenue neutral exercise and absence of deliberate intention to evade tax, penalty imposed under sections 76 and 78 set aside by Tribunal : Commissioner of Central Excise v. Dineshchandra R. Agrawal . . . 379 F Beneficial notification issued in public interest granted exemption to goods supplied to United Nations or international organisation not justifiable to introduce any condition in it or read it in restrictive manner : Commissioner of Central Excise v. Caterpillar India P. Ltd. . . . 381 F Where Appellate Tribunal declining to entertain appeal only on its maintainability and not recording finding on merits, assessee can challenge order on merits : Navshakti Industries P. Ltd. v. Commissioner of Customs . . . 385 F Merely because goods obtained under EXIM policy by payment of duty, authorities not precluded from realising actual duty payable on correct value of goods : Navshakti Industries P. Ltd. v. Commissioner of Customs . . . 385 F Merely producing documents to establish godown belonged to assessee not same as showing that goods belonged to assessee : Navshakti Industries P. Ltd. v. Commissioner of Customs . . . 385 CESTAT ORDERS F For failure to produce licence for import of 15 year old machinery, confiscation of machinery for violation of policy justified : Century Offset Works v. Commissioner of Customs . . . 347 F Charge of availment of Cenvat credit without receipt of inputs was serious and could not be held correct without adequate and cogent evidence : Gujarat Cypromet Ltd. v. Commissioner of Central Excise . . . 349 STATUTES AND NOTIFICATIONS F Notifications : F Central Excise Act, 1944 : Notification under section 5A(1) : Exemption to goods supplied for defence and other specified purposes : Amendments . . . 125 F Central Excise Rules, 2002 : Notification under rule 9(2) : Exemption to pharmaceutical products affixed with sticker or re-printing or re-labeling or re-packing . . . 97 F Customs Act, 1962 : Notification under section 14(2) : Rates of basic customs duty on specified goods : Amendments 126, 127, 128 Notification under section 25(1) : Exemption to certain goods imported from Republic of Korea : Amendments . . . 98 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 To Unsubscribe : Reply back with "Unsubscribe" in subject followed by the key word "ITR" or "CC" or "VST" or "CCD" or "GSTR" or "ITR (Trib)", respectively or "All" if you do not want any Email. ITR : Income Tax Reports, CC : Company Cases, VST : VAT and Service Tax Cases, CCD : Consolidated Commercial Digest, GSTR : Goods and Service Tax Reports, ITR (Trib) : ITR'S Tribunal Tax Reports. Also send your feedback or comments to info@cliofindia.com

__._,_.___

receive alert on mobile, subscribe to SMS Channel named "aaykarbhavan"
[COST FREE]
SEND "on aaykarbhavan" TO 9870807070 FROM YOUR MOBILE.

To receive the mails from this group send message to aaykarbhavan-subscribe@yahoogroups.com

Your email settings: Individual Email|Traditional
Change settings via the Web (Yahoo! ID required)
Change settings via email: Switch delivery to Daily Digest | Switch to Fully Featured
Visit Your Group | Yahoo! Groups Terms of Use | Unsubscribe

__,_._,___