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19.04.2011 - Presentation on SC decision on considering Inter-state Sales as stock transfer
Thursday, April 21, 2011

Presentation on SC decision on considering Inter-state Sales as stock transfer

[ Contribution by  P.K. Bansal, Advocate (Mobile - 9810288440) & CA. Akhil Bansal, and contributors are available on email-id: ]

Presentation on Supreme court decision on considering Inter-state Sales as stock transfer

"Inter-state sales vs Stock transfer - Supreme court's decision in Hyderabad Engineering Industries"

A lot of dealers have been maintaining branches to benefit from 'Nil' rate of tax as against CST rate applicable for inter-state sales. Supreme court has now put rest to the disputes by covering such kind of transactions under the ambit of Inter-state sales. Supreme court while indirectly relying on "substance over form" rule, placed its reliance on the intention of parties. The Author had tried to summarise the implication of decision with the attached presentation.

(Please click here for presentation)


What's New

  1. Income Tax Notification No. 18 - New Income Tax Return Forms for Assessment Year 2011-12- Income-tax (3rd Amendment) Rules, 2011 (Click here) and for

    • ITR-1 SAHAJ---Indian Individual Income tax Return  (Click here)

    • ITR-2--For Individuals and HUFs not having Income from Business or Profession  (Click here)

    • ITR-3---For Individuals/HUFs being partners in firms and not carrying out business or profession under any proprietorship  (Click here)

    • ITR-4---For individuals and HUFs having income from a proprietory business or profession  (Click here)

    • ITR-4S SUGAM---For Presumptive Business Income Tax Return  (Click here)  

    • ITR-5---For firms, AOPs and BOIs  (Click here)

    • ITR-6---For Companies other than companies claiming exemption under section 11  (Click here)

    • ITR-7---For persons including companies required to furnish return under section     139(4A) or section 139(4B) or section 139(4C) or section 139(4D)  (Click here)

    • ITR-V - ACKNOWLEDGEMENT  (Click here)

  2. CBDT – Instruction No. 5/2011 - in all cases that are taken up for scrutiny, the AO/TPO should frame assessments only after bringing on record appropriate technical evidence that may be required in a case  (Click here)

  3. CBDT - Instruction No. 6/2011 – CCIT/DGIT may adjust the above limits by an amount of upto Rs. 5 lakhs to ensure that the workload is equitably distributed amongst the AOs  (Click here)

  4. F.No.495/2/2011-Cus.VI - Duty free export of samples as personal baggage of the exporter  (Click here) 


 "In the history of the universe, there has been nobody like you and to the infinity of time to come, there will be no one like you"


Thanks for your valuable time 


"Voice of CA"


CA. Sanjay Kumar Agarwal, Founder - Voice of CA
Member  Central Council - ICAI
Former Chairman - NIRC
Mob : 9811080342, 
CA. Sidharth Jain, Co-Moderator 
CA. Mukesh K Bansal, Co-Moderator-FEMA


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