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Archive: 14 August 2011

Posts in 14 August 2011

Free YouTube Live on The global landscape –  from market’s to trade

May 24, 2024 1110 Views 0 comment Print

Join us for an insightful and dynamic YouTube Live session on “The global landscape –  from market’s to trade.” with renowned financial analyst Ankit Baid, MBA Finance. The presentation explores shifting of the global economic landscape, focusing on the decline of US dominance and the rise of China. It examines the potential decrease in global […]

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7659 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

When Revenue detects unexplained expenditure in the name of doctors of the hospital, Sec 69C additions in the hand of the hospital can be made only after doctors deny receiving such payments

August 14, 2011 826 Views 0 comment Print

CIT Vs M/s Lakshmi Hospital (High Court Of Kerala At Ernakulum)- In this case also assessee conceded that the unaccounted receipts were collected for payment to doctors attending to patients in the hospital. What we notice is that the department has not made any effort to confront the doctors with the unaccounted payments stated to have been made to them by the hospital which engaged them.

Submitting inaccurate claim would not amount to giving inaccurate particulars, Penalty can not be imposed U/s. 271(1)(c)

August 14, 2011 1416 Views 0 comment Print

CIT Vs Brahmaputra Consortium Ltd (Delhi High Court)- When the assessee accepts the excess depreciation claimed inadvertently and the same being disallowed by the AO, penalty u/s 271(1)(c) is not warranted in such a case.

A.O. cannot issue notice U/s. 148 on the basis of scanty and vague information and material which do not indicate escapement of income

August 14, 2011 6165 Views 0 comment Print

Signature Hotels (P) Ltd. Vs ITO (Delhi High Court)- When the reason recorded for initiation of reassessment proceedings and the information received is extremely scanty and vague, and the material based on which the proceedings are initiated does not indicate escapement of income, the AO will have no jurisdiction to issue notice u/s 148.

Process of lifting water is incidental to manufacture ; Supreme Court decision prevails over Board Circular – SC

August 14, 2011 1498 Views 0 comment Print

Commissioner of Central Excise, Nagpur Vs Gurukripa Resins Private Limited (Supreme Court of India)- Central Excise- manufacture- Rosin and Turpentine- process of lifting water is incidental to manufacture; the operation of lifting of the water from the well to the higher levels, is so integrally connected with the manufacture of “Turpentine Oil” and “Rosin”, that without this activity it is impossible to manufacture the said goods and therefore, the processing of the said raw material in or in relation to manufacture of the said final goods is carried on with the aid of power.

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