No bar on advance ruling on filing return, issue deemed as pending if scrutiny notice issued before

IT/ILT: The question raised in the application seeking advance ruling would be considered as pending for adjudication before Income-tax authority only when the issues are shown in the return and notice under section 143(2) is issued

Order remanded had to be reassessed on all grounds without being influenced by observations made by

IT : Where Tribunal while remitting matter to Assessing Authority had given detailed observations, Assessing Authority was to be directed to reconsider matter afresh on all grounds without being influenced by observations made by Tribunal

Chit funds business constituted 'transactions in money' and isn't liable to service-tax; SC dismisse

Service Tax : SC dismisses SLP against judgment of Delhi High Court whereby Chit fund business (including business chit funds), which are 'transactions in money' were held not liable to service tax and Entry 8 of Notification No. 26/2012-ST, providing from partial exemption/abatement in relation thereto, was quashed

Assessment order was subject to revision if AO allowed deferred revenue exp. without recording reaso

IT: Where Assessing Officer allowed assessee's claim of deduction in respect of deferred revenue expenditure without recording reasons for same, order so passed was erroneous and prejudicial to interest of revenue and, thus, Commissioner was justified in revising said order under section 263

CLB rescheduled repayment scheme to fixed deposit holders as co. was facing liquidity crunch

CL: Where scheme of repayment to fixed depositors of company was rescheduled, repayment was to be made accordingly

AO couldn’t initiate reassessment proceedings after 10 years even on info furnished by investigation

IT: Assessing Officer could not initiate reassessment proceedings mechanically after expiry of ten years from end of relevant assessment year merely on basis of information supplied by Investigation Wing that assessee had made certain investment in purchase of plot which she did not disclose in her return of income

Bottling of LPG into gas cylinders amounts to manufacture for deduction under sections 80HH, 80-I an

IT: Activity of bottling LPG into gas cylinders amounts to production or manufacturing activity for purpose of allowing deduction under sections 80HH, 80-I and 80-IA

Order of personal penalty to be served on director of co. instead of authorized representative of Co

Central Excise : In case personal penalty is levied on director of a company in relation to duty demands confirmed on company, order levying such penalty must be served on director and service thereof on authorised representative of company is not sufficient

Retro-amendments to I-T Act only change tax liability with retro-effect and not withholding tax obli

IT/ILT : Retrospective amendment changes tax liability but not tax withholding liability with retrospective effect

Interdependency among Group Company and Indian Subsidiary constitute PE; AAR discusses landmark ruli

IT/ILT: Technical and professional personnel were deputed by applicant to assist its affiliates to optimally execute the contract received by it or its affiliate - The applicant had the power to recall these technical or professional personnel and replace them with other personnel - These personnel would work under the supervision of Indian affiliate - However, the overall control over these personnel was with the applicant – On these facts, whether Indian affiliate shall be deemed to be PE of a

When contract notes and demat accounts prove genuineness of share transactions sec. 68 additions to

IT: Where assessee duly proved genuineness of share transactions by bringing on record contract notes for sale and purchase, bank statement of broker and demat account showing transfer in and out of shares, Assessing Officer was not justified in bringing to tax capital gain arising from sale of shares as unexplained cash credit

Additions on account of seized doc relating to infructuous deal of sale of land were invalid

IT: Where documents unearthed during search indicated that first deal of sale of land could not be materialized, and assessee had sold same land and disclosed sale consideration and offered capital gain, any addition on account of first deal could not be made to assessee's income as unaccounted income

HC dismissed damages claim against delinquent director as it was based on past financials of co.

CL : Where liquidator filed application under section 543 and claimed certain amount to be made good by directors of company in liquidation, in view of fact that claim did not relate to relevant period and was completely based on a balance sheet, which was two years earlier to date of winding up order and could not reflect true state of affairs as on date of winding up, order same was on surmise and application lacks merit