Facts of the case :- Assistant Commissioner passed order for provisional release of seized motor parts subject to execution of bond based on value of goods at Rs. 55 lakhs – Assessee filed writ challenging said action on ground that value of goods was less than Rs. 40 lakhs and only with a view to… Read More »
Whether the value of the material supplied by the recipient of the taxable service free of cost (viz. “free supplies”) should be included, for availing the benefit of abatement under Notification No. 15/2004-ST, dated 10.09.2004 as amended/substituted ? Held Value of goods and materials supplied free of cost by a service recipient to provider of… Read More »
Hon’ble High Court of Punjab and Haryana, P.M.S Diesels Vs. CIT [ITA No. 716 of 2009] Question of Law: Whether the disallowance contemplated by Section 40(a)(ia) can be applied when payments in respect of which tax is deductible at source has already been made by the assessee to the payee at the time of computing… Read More »
Facts of the Case Assessee was buying conveyor belting in endless length and cutting same into required sizes Issue : Department argued that said process amounted to manufacture and demanded duty – Tribunal held that conveyor belting is material used in construction of conveyors and like fabrics and other materials, belting comes in endless length… Read More »
Facts of the case :- Assessee entered into an agreement with one ‘B’ to do job work for ‘B’ . Under said agreement, ‘B’ provided adjustable advances/deposits of Rs. 34 lakhs to assessee towards cost of plant and machinery and reimbursement for construction of factory shed, etc. . Initially in TDS certificate, ‘B’ showed nature… Read More »
Firm Converted into LLP Notification Dated 15.10.2015
New Rule notified to compute Arm’s Length Price (ALP) when more than one price is determined by Most Appropriate Method Notification No. 83/2015 [F.No.142/25/2015-TPL] Dated 19th Oct 2015
IRDA guidelines on Indian owned and Controlled entities
CBDT initiated email based correspondence with taxpayers for paperless assessments
Transfer pricing guidelines notified by Govt