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Treating an exp. as capital when earlier it was held as revenue on similar facts would be sheer 'cha

IT: Assessing Officer having allowed expenses as revenue expenses, on basis of same details to take view that expenses were capital in nature, would clearly amount to a change of opinion

Sec. 10(23C) recognition not to be denied to a society pursuing other objects along with education

IT: Where assessee, a society, was running a degree college and it made an application for approval under section 10(23C)(vi) said application could not be rejected merely on ground that it was not filed by educational institution itself

No concealment penalty despite wrong claim if no inaccurate particulars reported by assessee

IT : Where assessee wrongly claimed depreciation on e-commerce site but there was no furnishing of inaccurate particulars, penalty for concealment was not leviable

Application could be filed to modify terms of stay if circumstances lead to stay undergone changes

IT: Application for vacating or modifying terms of stay can be filed where circumstances under which stay had been granted had undergone some material changes or where condition was imposed without appraisal of all facts of case

Sub-broker aiding creation of artificial scrip volume and price manipulation violates FUTP Regulatio

SEBI: A sub-broker abetting in creating artificial volume of scrip of company and manipulating price of scrip is guilty of violating FUTP Regulations and Brokers Regulations

CBDT's directives on TDS mismatch: unmatched TDS challans in form 26AS to be verified and corrected

IT : Action on Unmatched Challans Reflected in Form 26AS- Direction of The Hon'ble Delhi HC in The Case 'Court On Its Own Motion vs. UOI & ORS in WP(C) 2659/2012 & WP(C) 5443/2012 [2013] 31 TAXMANN.COM 31 (DELHI)

Supply for goods as per specification using material supplied by customer isn't a work contract sec.

IT : Where tenderer supplied sachets to assessee-milk producer society as per its specifications by securing material from external source, it could not be held as works contract

Benefit of ST Rule 6(3) is available on non-receipt of consideration in kind

ST/ECJ: In case of barter contract, if consideration in kind is not fully received, assessee may seek benefit of rule 6(3) of Service Tax Rules, 1994

Intention behind acquiring shares would decide ultimate treatment of loss therefrom - Capital or Bus

IT : Whether shares sold on which loss was suffered by assessee was stock in trade giving rise to business loss or capital asset giving rise to capital loss would depend upon intention with which shares were acquired by assessee