| INCOME TAX ACT |
| SECTION 6 |
| RESIDENTIAL STATUS |
For
the purpose of determining the residential status in India under Sec.
6, the term 'Going abroad for the purpose of employment' means going
abroad to take up any employment or for any business carried outside
India. It is not necessary to establish employer-employee relationship
to prove travelling abroad; for employment it may be for other avocation
including self-employment - K. Sambasiva Rao v. Income-tax Officer (2014) 42 taxmann.com 115 (Hyderabad - Trib.)
|
| SECTION 12AA |
| CHARITABLE OR RELIGIOUS TRUST - REGISTRATION PROCEDURE |
Conditions precedent : Where
Memorandum of Association (MoA) of trust does not provide for
allocation of functions and duties of office bearers, it can not be a
ground to refuse registration because it is an internal regulation and
does not in anyway affect objects of trust - Shriram Education Foundation v. Director of Income-tax (Exemption) (2014) 41 taxmann.com 117 (Delhi - Trib.)
|
| SECTION 40(a)(ia) |
| BUSINESS DISALLOWANCE - INTEREST, ETC., PAID TO A RESIDENT WITHOUT DEDUCTION OF TAX AT SOURCE |
Deposit of tax : Where
assessee deducted tax at source while making payments to contractors
and deposited same with Government before due date of filing return of
income under section 139(1), no disallowance under section 40(a)(ia)
could be made in respect of said payments - Income-tax Officer, v. Sun Enterprises (2014) 41 taxmann.com 431 (Gujarat)
|
| SECTION 43B |
| BUSINESS DISALLOWANCE - CERTAIN DEDUCTIONS TO BE ALLOWED ONLY ON ACTUAL PAYMENT |
ESI, PF contribution : Where
assessee deposited employer's contribution of provident fund within
extended grace period under PF Act, he will be eligible for deduction
for same under section 43B - Commissioner of Income-tax v. Amoli Organics (P.) Ltd. (2014) 41 taxmann.com 149 (Gujarat)
|
| SECTION 47 |
| CAPITAL GAINS - TRANSACTIONS NOT REGARDED AS TRANSFER |
Conversion of partnership firm into company : Where
prior to conversion of partnership firm into company, land belonging to
partnership firm was revalued as per market value and realization was
credited to partners' current account maintained with partnership firm
as per their profit sharing ratio and value of land was treated as loan
in hands of company, such transaction would be subjected to capital
gains tax - K.T.C. Automobiles (P.) Ltd. v. Deputy Commissioner of Income-tax (2014) 41 taxmann.com 160 (Cochin - Trib.)
|
| SECTION 68 |
| CASH CREDITS |
Amount received prior to commencement of business :
Statutory requirement for treating any amount as income of assessee
under section 68 is where assessee fails to justify and establish
genuineness of entry in its books of account and, therefore, question as
to whether said amount is introduced prior to commencement of business
of company or afterwards is of no significance - Commissioner
of Income-tax (Central), Ludhianav.Sri Baba Rupadas Spinning Mills (P.)
Ltd. (2014) 41 taxmann.com 143 (Punjab & Haryana)
|
| SECTION 69C |
| UNEXPLAINED EXPENDITURE |
Enquiry notice served to wrong address : Where assessee pointed out that notice for verification of a payment was issued to a wrong address, matter be remanded back - Mohmed Kurshid Alam
Khan v. Additional Commissioner of Income-tax (2014) 41 taxmann.com 135 (Gujarat)
|
Cash payments :
Addition should be made to assessee's income where assessee failed to
show why payments were made in cash, whether they were actually received
by parties and if so for what purpose - Mohmed Kurshid Alam Khan v. Additional Commissioner of Income-tax (2014) 41 taxmann.com 135 (Gujarat)
|
| SECTION 80-IB |
| DEDUCTIONS - PROFITS AND GAINS FROM INDUSTRIAL UNDERTAKINGS OTHER THAN INFRASTRUCTURE DEVELOPMENT UNDERTAKINGS |
Housing project : To claim deduction under section 80-IB(10), open terrace area cannot form part of built up area - Commissioner of Income-tax, Chennai v. Mahalakshmi Housing (2014) 41 taxmann.com 146
(Madras)
|
| SERVICE TAX |
| SECTION 65(25B) |
| COMMERCIAL OR INDUSTRIAL CONSTRUCTION SERVICES |
Construction
of road, by itself, is not liable to service tax under Commercial or
Industrial Construction Services; liability may arise only where
construction of road is a part of composite contract - Palimar Infracon (P.) Ltd. v. Commissioner of Central Excise, Mangalore (2014) 41 taxmann.com 369 (Bangalore - CESTAT)
|
| SECTION 65(105)(zo) |
| AUTHORISED SERVICE STATION SERVICES |
Position prior to 1-5-2011 :
If bill/invoices issued clearly show payment of sales tax/VAT on spare
parts used in motor vehicle servicing, then value of such spare parts
would not be includable in gross consideration received for rendering of
service - Jaika Motors Ltd.v.Commissioner of Central Excise & Service Tax (2014) 41 taxmann.com 254 (Mumbai - CESTAT)
|
| CENVAT CREDIT RULES |
| RULE 6 |
| CENVAT CREDIT - OBLIGATION OF A MANUFACTURER OR PRODUCER OF FINAL PRODUCTS AND A PROVIDER OF OUTPUT SERVICE |
CBEC
Circulars are binding upon revenue, except in case they are
inconsistent with provisions of law or judgments of Appellate Tribunal,
High Court or Supreme Court - Idea Cellular Ltd. v. Commissioner of Central
Excise (2014) 41 taxmann.com 399 (Mumbai - CESTAT)
|
Source : Taxmann
No comments:
Post a Comment