II. Today's Tenders Info.
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III. Judicial Pronouncement
1. Idea Mobile Communication Ltd. v. C.C.E. & C. Cochin:,(SC), CIVIL APPEAL NO. 6319 OF 2011, Arising out of SLP(C) No. 24690 of 2009 in the Supreme Court of India
SIM Card has no intrinsic sale value and it is supplied to the customers for providing telephone service to the customers. The charges paid by the subscribers for procuring a SIM Card are generally processing charges for activating the cellular phone and consequently the same would necessarily be included in the value of the SIM Card for levy of service tax.
Thus, the value of SIM cards forms part of the activation charges as no activation is possible without a valid functioning of SIM card and the value of the taxable service is calculated on the gross total amount received by the operator from the subscribers.
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2. Ms. MAYAWATI Vs. COMMISSIONER OF INCOME TAX, ITA No. 438/2008, HIGH COURT OF DELHI, Dated : 03rd August, 2011
In context of taxation of unexplained gifts u/s 68 of the Act, Delhi High Court has held that while clarifying the term “capacity” and “relationship” and habitual donor and non habitual donor: That: The capacity does not mean what you are earning monthly or annually. The capacity includes how much total assets a person own. Sometimes a person does not have to be related to a particular trust or a charitable institution, but in their view that trust or institution is doing a great service to the particular section of the society. Therefore, we do not find any force in the arguments advanced by the learned counsel for the Revenue. Further, it is also not necessary that a person should be a habitual donor. It depends from person to person, thinking to thinking and situation to situation. Sometimes a person keeps donating throughout their life and sometimes he donates once and sometimes during the last stage of his life. All the donors have admitted that they are great admirer of the assessee as she is working for the upliftment of poor people.
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3. HONDA SIEL POWER PRODUCTS LTD. Vs. DY.COMMR.OF I.T & ANR, Appeal (Civil) No(s). 19085/2011, SUPREME COURT OF INDIA, Dated : 29/07/2011
Re-opening of assessment is fully justified on the facts and circumstances of the case. However, on the merits of the case, it would be open to the assessee to raise all contentions with regard to the amount of Rs.98.46 lakhs being offered for tax as well as it’s contention on Section 14A of the Income Tax Act, 1961.
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