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30.11.2012 - Voice of CA Presents - Updates
Friday, November 30, 2012


I.  Useful Contrubitions:

[Contribution by CA Sidhart Jain, Co-moderator Voice of CA, and contributor is available at ]

1.  A Presentation on "Tax Avoidance Vs Tax Evasion Thin line of difference "

(Click here for detail)


[Contribution by CA Sanjeev Singhaland contributor is available at ] 

2.  An Article: "ABATEMENTS - All about Abatements in Service Tax"

(Click here for detail)   


 II.  Useful Case Laws: 

1.   CIT Vs. M/s AREVA T & D India Limited, Tax Case (Appeal) Nos. 1184, 1185 and 2694 of 2006, DATED: 03.09.2012, High Court of Madras

Assessee is entitled to depreciation u/s 32 of IT Act, on amount paid for acquiring the tenancy rights.

Tenancy right is a capital asset, as held by the Apex Court in the decision reported in [2005] 273 ITR 1 (SC) (CIT Vs. D.P.Sandhu Bros Chembur P. Ltd.) that the surrender of tenancy rights amounted to transfer and hence, being a capital receipt, on the facts thus placed before this Court that the amount paid on account of surrender of tenancy rights being given by the assessee to the builder, there is no exchange of one property for the other. Hence, we have no hesitation in accepting the plea of the assessee, thereby rejecting the Revenue's contention raised in all these Tax Cases. Consequently, we hold that the assessee is entitled to depreciation.

(Please click here for judgment) 

2. CIT Vs. Valibhai Khanbhai Mankad, Tax Appeal No. 1182 of 201, Date: 01/10/2012, High Court of Gujarat

No Disallowance u/s 40(a)(ia) shall be permissible, once the assessee obtained Form No.15-I from the sub-contractors .
Once the assessee obtained Form No.15-I from the sub-contractors whose contents are not disputed or whose genuineness is not doubted then the assessee is not liable to deduct tax from the payments made to sub-contractors. Once assessee is not liable to deduct tax u/s 194C then disallowance u/s 40(a)(ia) cannot be made. The assessee’s breach of the requirement to furnish details to the income tax authority in the prescribed form within prescribed time may attract other consequences but cannot result in a s. 40(a)(ia) disallowance.

(Please click here for judgment)   


  Golden Rules:

"Life is one way road. 
We can see back but we can’t go back.
So every second is important. 
Because today's newspaper will be 
tomorrow's waste paper


  Thanks & Regards

  Team - Voice of CA 




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