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Archive: 01 February 2013

Posts in 01 February 2013

S. 80HHE Transmission of customized electronic data & Data entry Job is notified computer software service

February 1, 2013 967 Views 0 comment Print

The activity carried out by the respondent-assessee was of transmitting customized electronic data to its client is factually so found by two authorities under the Act. This finding of fact arrived at by the authorities under the Act is not perverse and nor arbitrary. So far as deduction under Section 80HHE of the Act for data entry is concerned, the same is covered by CBDT notification dated 26.09.2000 wherein the job of data entry has been notified as being computer software service.

An issue not raised & decided by Commissioner (Appeals) cannot be entertained in 2nd appeal before Tribunal

February 1, 2013 409 Views 0 comment Print

So far as the cross-objection of the respondent assessee is concerned, we do not find merit on valuation issue when discussion made by the ld. Commissioner (Appeals) in para 6.2 is read. The respondent assessee claims cum-tax benefit. This point does not need further consideration at this stage for no evidence led to show that the gross value was inclusive of service tax. So far as the taxability is concerned that was not before ld. Commissioner (Appeals). Such issue not been raised nor decided no pleading at this stage is entertainable in second appeal. Cross-objection is dismissed accordingly.

Amendment to s. 40(a)(ia) by Finance Act, 2008, is WEF from 1-4-2005

February 1, 2013 651 Views 0 comment Print

It is not in dispute that on the date the assessee deducted the tax, he had to pay/remit the money within seven days from that date and if the amount is actually paid when the credit is given, then the tax is payable within two months. Admittedly, in the instant case, the assessee did not comply with the legal requirement.

CMA President Communique for February, 2013

February 1, 2013 351 Views 0 comment Print

The economic growth of any country has a significant impact on the lives of its citizens. It determines the standard of living of its people. India’s rate of economic growth was not remarkable last year. The reasons are mainly high inflation, huge fiscal deficit and slow industrial productivity.

Even if trust receipt exceed Rs.10 lakh AO can deny exemption but cannot cancel its registration

February 1, 2013 1038 Views 0 comment Print

Order of ld. DIT(E) has clearly mentioned that assessee’s objects were in the nature of advancement of object of general public utility coming within the ambit of Section 2(15) of the Act. He had cancelled the registration only for the reason that the receipts exceeded Rs. 10 lakhs.

Expenditure incurred on garden to control pollution is deductible

February 1, 2013 2007 Views 0 comment Print

The garden expenditure was for the purpose of maintaining garden to control the pollution. The company had put up an affluent treatment plant and pollution used to generate because of release of pollutants. The maintaining a garden helped in controlling pollution arising from the pollutants. It cannot be gainsaid that the expenses for garden had nexus with business activity.

Transfer Pricing – DEPB benefit should be considered as part of turnover for working out profit margin

February 1, 2013 907 Views 0 comment Print

Explore the impact of DEPB benefit on profit margin in transfer pricing. Learn why TP adjustment was ruled unnecessary in this detailed analysis. Case: Welspun Zucchi Textiles Ltd.

Writ petition can be filed against SCN if it based on invalid Circular/Instruction

February 1, 2013 933 Views 0 comment Print

The Department argued that the petitioner has an alternative remedy by way of appearing in the adjudicatory process as also by way of an appeal as provided under the statute. However, said proposition could not be agreed to inasmuch as the basis of the show-cause notice as well as the adjudication order was the instruction dated 28-4-2008.

Prior to 1-4-2011, Service Tax rate on the date of service will be applicable

February 1, 2013 1089 Views 0 comment Print

The taxable event as per the Finance Act, 1994 is the providing of the taxable service. In the present case, we find that not only were the services admittedly provided prior of 14.05.2003 but also the bills have been raised prior to 14.05.2003. The only thing that happened after 14.05.2003 was that the payments were received after that date. That, in our view would not change the date on which the taxable event had taken place. Since the taxable event in the present case took place prior to 14.05.2003, the rate of tax applicable prior to that date would be the one that would apply. In the present case, the rate of 5% would be applicable and not the rate of 8%.

Limitation for filing cenvat refund claim shall begin when litigation ends

February 1, 2013 363 Views 0 comment Print

As per Notification No. 5/06, the assesses are required to file a refund claim within the time prescribed under Section 11B of the Central Excise Act. As per Section 11B of the Act, the assessees are required to file a refund claim within one year from the relevant date and the limitation of one year shall not apply where duty has been paid under protest.

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