Friday, April 27, 2012

1. Rate of exchange of conversion of each of the foreign currency with effect from 1st May, 2012 - Ntf. No. 38/2012- Customs (N.T.) Dated: April 26, 2012

2. Block assessment - Penalty u/s 158BFA -whether mandatory or discretionary - HC

3. Denial of waiver of interest, levied under Section 234A, B and C of the Income Tax Act - HC

4. Disallowance of Rs.1,78,562 being prior period adjustments - The entire dispute thus hinges on the question as to the previous year in which liability to pay has crystallized and there is no dispute about admissibility of the claim per se - Tri

5. Import of old, used and discarded rubber tyres – Department enhanced value of tyres, imposition of redemption fine in lieu of confiscation and penalty - Tri

6. Valuation of imported goods - MRP based valuation or transaction value - CVD - Tri

7. Whether the respondents were doing any service for the prospective buyers or were doing the construction activity for themselves - Tri

8. Claim of refund rejected on the ground that according to the Clause 2(f) of Notification No.17/2009-ST, dt.7.7.09 - Tri

9. Classification - MVAT - Whether the product, nutralite table margarine, manufactured by the respondent-assessee is a vegetable oil covered under Schedule C, entry 100 or Schedule C, entry 102 or not - HC

10. Invoking the provisions of section 50B to sale of assets of the M Seal Division of the Appellant - assessee contented that it was an itemized sale - Slump sale - Tri

11. Assessee in default - TDS u/s 194J - Trust directly makes payments to various hospitals as per the MOUs it entered with such hospitals. - Tri

12. Deduction u/s 80IB - Date of commencement of manufacturing activity - - HC

13. Deduction u/s 80-I - denial of deduction u/s 80-I(9) - Close relations between the assessee - company and the foreign buyer - burden of proof - Deduction u/s 10A read with section 80-I(9) - maintenance of separate books - HC

14. Disallowance u/s 40(a)(ia) - Sub contractor - Non deduction of TDS under Section 194C - hiring charges - tippers and excavators- Tri

15. MAT - 115JB - AO has powers to go behind the accounts and see whether same have been prepared in accordance with the requirements of Part II and Part III of Schedule VI of the Companies Act, 1956. - Tri

16. The economic reasons for insertion of Sec. 10(33) of the Act clearly shows that the source viz., transfer of capital asset being units of US 64 itself that has been excluded by the will of the Legislature and not the capital gain alone.- Tri

17. Search and seizure - Claim of interest under section 132B(4) - The petitioner claims that an amount of Rs. 1,60,000 seized from him was neither appropriated nor treated as advance tax -HC

18. Eligibility of refund under Notification No.41/2007-ST, dt.06.10.2007 -Port services, Terminal Handling Charges, CHA services, GTA services, Wharfage charges -Tri

19. Polymer Modified Bitumen (PMB) and Crumbled Rubber Modified Bitumen (CRMB) cannot be treated as Bituminous mixtures falling under Chapter sub-heading No.27150090 - Tri

20. Claim of interest on refund as Rule 5 of CCR, 2002 - Tri