Statement given freely during search puts an estoppel against assessee from retracting; HC affirms a

IT: Where assessee had freely given statement that deposited amount belonged to him and authority had acted on same, assessee could not retract his statement

Presence of other builders offering residential flats in same area rules out dominance of opposite p

Competition Law : Presence of other builders of repute having similar projects in area as launched by OP rules out dominance of OP in relevant market

ST leviable on activity of preparation of place to hold event by erection of pandal and shamiana, CB

ST : Section 66E(f) of the Finance Act, 1994 - Declared Services - Hiring of Goods Services - Hiring/Erection of Pandal or Shamiana for Events doesn't Amount to Transfer of Right to use Goods and is Liable to Service Tax

Mere denial of sec. 11 relief won’t invalidates trust registration, rules HC

IT : Mere fact that an income is not exempt under section 11 would not by itself render Tamil Nadu Cricket Association's registration under section 12AA liable to be cancelled

Revenue couldn't object to interest on refund on pretext of assessee's fault if CIT(A) allowed it as

IT: Where Commissioner (Appeals) observed that interest under section 244A was allowed on refund and same was affirmed by Tribunal, it could not be apprehended that they had not verified fact as to whether assessee was in default

Income from shares admitted as capital assets in previous year returns can't be taxed as business in

IT: Where shares were shown as capital balance in Income-tax return of previous year as such on sale of shares, sale proceed would be long/short-term capital gain of assessee and not income from business

Population of Municipality and not of village Panchayat decides whether asset is a capital asset or

IT : Population of Municipality and not of village Panchayat decides whether asset is a capital asset or not

No extended period against assessee if exemption was withdrawn due to buyer's fault without assessee

Excise & Customs: In case an exemption availed by assessee is withdrawn due to an act of buyer, mere allegation that assessee should have taken necessary steps to ensure non-violation of condition of exemption by buyer, is not sufficient for invocation of extended period, except where violation took place by consent/knowledge of assessee