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Penalties can’t be imposed if no proposal was made in show cause notice to impose penalty

ST : Penalties cannot be imposed if, though nature of contravention is mentioned in show-cause notice, there is no specific proposal asking assessee to show-cause as to why penalty should not be imposed under specified sections

TNMM to be applied where assessee pays royalty to foreign AE for using its trade name

IT/ILT : Where assessee made payment of royalty to its foreign AE at certain percentage of net profit for using its tradename, TNM method should have been adopted for computing ALP

Interest on overdue debtors qualifies for sec. 80-IB deduction

IT : Where there is sufficient evidence regarding authenticity of payment of sales commission to agents, same cannot be disallowed

Margin caps for NBFCs, irrespective of their size would be 12% till March 31, 2014

NBFC : 'Non Banking Financial Company-Micro Finance Institutions' (NBFC-MFIS) - Directions - Modifications in Pricing of Credit - Margin Cap

ITAT recalled its order as assessee couldn’t appear for hearing because he didn’t get the notice for

IT : Where assessee did not receive any notice of hearing and his appeal had been dismissed for want of representation, order passed by Tribunal was to be recalled

A real estate Co. can’t be said to be a dominant player if other players also have access to similar

Competition Act : Where OP was not a major real estate developer offering residential space/flats in Faridabad and many other real estate developers were offering residential flats in that area, OP did not prima facie appear to be dominant in relevant market of 'development of residential space/flats in region of Faridabad'

Banks to acknowledge receipt of nil TDS declaration from customers, RBI directs banks

IT : Acknowledgement by Banks at the Time of Submission of Form 15-G/15-H

Delay in filing an appeal due to acute financial crisis and multiple litigations to be treated as ‘r

IT : Facing acute financial crisis and multiple legal proceeding can be treated as a reasonable ground for delay in filing appeal before Commissioner (Appeals)

No additions for unexplained credit if alleged sums were reflected in books followed by then payment

IT : Where assessee proved identity and creditworthiness of donor and genuineness of gift from mother, addition could not be made as undisclosed income

Taxable amount of passenger transportation liable to ST must correspond to place of provision of ser

ST/ECJ : Taxable amount of passenger transportation is determined as per place of provision of services rules; hence, if place of provision of services is India, entire package tour would be liable to service tax in India

Prior to 1-4-2011 ‘Catering services’ are eligible for credit, irrespective of number of employees o

ST : Outdoor catering services are eligible for credit irrespective of number of employees, as there is no requirement that credit is allowable only if number of employees exceed 250