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Displaying Judiciary 1 - 10 of 1598 in 160 pages


Whether transaction of loan between a firm and its partner attractsSection.269SS of Income Tax Act?

By Hetvi Sheth On 02 March 2015 at 10:29

Assessee is a Partnership firm involved in the business of banking and registered under the Kerala Money Lending Act.Notice u/s 148 of the Act was issued to the respondent-assessees. The firm had accepted payments from the partners, during the releva...

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Posted in Income Tax | 0 comments | 37 hits


No extended period if demand arose out of correct figures shown in ST-3 Returns

By bimal jain On 27 February 2015 at 10:35

The Hon-ble CESTAT, Ahmedabad, relying on the decision in the Meghmani Dyes case, held that if prescribed Returns are filed by Assessee giving correct information, then extended period of limitation cannot be invoked. In the instant case also, prescr...

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Posted in Service Tax | 0 comments | 76 hits


Pre-deposit has to be waived off if Assessee’s case is a good/ strong prima facie case covered by a binding precedent

By bimal jain On 26 February 2015 at 10:55

The Appellant filed an appeal before the Hon-ble CESTAT, Delhi. The Hon-ble Tribunal vide a non-speaking Order dated February 26, 2013 (-Impugned Order-) ordered pre-deposit of 40% of the demand under Section 35F of the Central Excise Act, 1944 made ...

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Posted in Service Tax | 0 comments | 103 hits


Whether assessments which have attained finality u/s 153A can be disturbed or varied if no incriminating material is found qua the addition made?

By Hetvi Sheth On 25 February 2015 at 10:26

Assessee is an individual having salary income and income from other sources. Return of income for A.Y. 2002-03 was filed on 31.03.2003 u/s 139 and for A.Y.2004-05, return was filed on 31.03.2005 u/s 139. After the filing of the return of income, no ...

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Posted in Others | 0 comments | 113 hits


Whether transaction of call/put options in foreign currency are "derivatives" and whether loss suffered therein is a "speculation" loss?

By Hetvi Sheth On 24 February 2015 at 13:21

Assessee is an Investment Management Consultant. During Scrutinyassessment, the AO noticed that the assessee had claimed a loss of Rs.93,63,235/- on account of loss on foreign currency futures. The AO disallowed the loss considering the provisions of...

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Posted in Others | 0 comments | 124 hits


Interest on delayed refund is permissible from expiry of 3 months’ from the date of filing of Refund application and not from the date of Refund Order

By bimal jain On 23 February 2015 at 10:21

The Hon-ble CESTAT, Ahmedabad relying upon the decision in the Ranbaxy Laboratory case held that under Section 11BB of the Excise Act, there is no provision that relevant date for determining the rate of interest will be postponed in any eventuality....

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Posted in Excise | 0 comments | 143 hits


Whether Statutory reserve created u/s 45-IC of RBI Act is a "diversion of income at source" and can be excluded from book profits?

By Hetvi Sheth On 23 February 2015 at 10:21

The appellant is a NBFC engaged in the business of leasing of commercial vehicles, infrastructure construction machinery/equipment and financing of infrastructure projects equipment/machinery. The total income of the appellant-assessee was assessed u...

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Posted in Others | 0 comments | 149 hits


Sum paid as a pure agent of service recipient is not includible in value of services

By bimal jain On 18 February 2015 at 10:30

The Hon-ble High Court of Chhattisgarh after discussing provisions under Section 67 of the Finance Act, 1994 (-the Finance Act-) read with Rule 5 of the Service Tax (Determination of Value) Rules, 2006 (-the Valuation Rules-), upheld the Order of the...

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Posted in Service Tax | 0 comments | 227 hits


No penalty could be imposed when the amount of Service tax has been paid along with interest before issuance of Show Cause Notice

By bimal jain On 14 February 2015 at 12:04

The Hon-ble CESTAT, Delhi after discussing Section 73(3) of the Finance Act held that as per the provisions of Section 73(3) of the Finance Act, the SCN was not required to be issued when Service tax along with interest has been paid by the Assessee ...

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Posted in Service Tax | 1 comments | 260 hits


Whether levy of late filing fees u/s 234E due to late filing of TDS returns is constitutionally valid?

By Hetvi Sheth On 14 February 2015 at 10:33

By this Writ Petition filed under Article 226 of theConstitution of India, the Petitioners have challenged the constitutionalvalidity of section 234E of the Income Tax Act, 1961. Section 234E seeksto levy a fee of Rs.200/- per day (subject to certain...

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Posted in Service Tax | 0 comments | 304 hits






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Updated on : 03/03/2015 08:28:00



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