HC dismissed revenue's appeal as actual tax effect was less than minimum tax effect necessary to adm

IT : Where appeal filed by revenue against Tribunal's order deleting certain addition, involved tax effect of less than Rs. 10 lakhs, it was to be dismissed being non-maintainable in terms of Instruction No. 3 dated 9-2-2011

Rule 5A mandating assessee to provide docs to authorized officer isn’t ultra vires sec. 72A/94 of Fi

Service Tax : Rule 5A(2) mandating every assessee to make available requisite documents/reports to authorised officer or audit party is not ultra vires section 72A or section 94 of Finance Act, 1994 and is valid

Project Completion Method and Percentage Completion Method can be used for two different projects to

IT: In construction business of one concern of assessee, income may be declared by following project completion method, while in other, percentage completion method is followed

Deduction under sec. 42 for mineral oil exploration requires agreement with CG and approval to incur

IT : For seeking exemption of any expenditure under section 42(1), assessee has to enter into an agreement with Central Government of nature mentioned in section 42(1) under which he has been authorized to incur expenditures falling within either of clause (a) or clause (b) or clause (c)

HC presumes that distant relative of wife can't have a close nexus with her husband so as to give hi

IT: Where in account books of assessee-firm there was a credit of Rs. one lakh in capital account of one of its partners and assessee explained that said partner received above amount through cheque from a NRI as a gift, since there was no connection of donor with donee except for distant relationship through wife of donee, above amount formed unexplained cash credit

CLB rejected application seeking changes in petition as it mischievously intended to delay proceedin

CL: Application for amendment in company petition filed after final arguments of petitioners had concluded, deserved outright rejection particularly when same appeared to have been filed solely for purpose of delaying proceedings

No sec. 35 deduction for sum incurred which doesn't result in any research but helps in development

IT : Where assessee, engaged in business of development of vaccines and bio-pharmaceuticals, claimed product development expenditure being interest on loan and cost of consumable, in view of fact that said expenditure had nothing to do with scientific research, provisions of section 35(1)(i) or (iv) had no application to assessee's case and, thus, its claim for deduction was to be rejected

Larger bench not to answer reference where conflicting judgment challenged in appeal before High Cou

Excise & Customs : Where operative judgment arises out of reference answered by Third Member on conflict of views between Members comprising Division Bench, such decision is a decision of a Larger Bench

Additional depreciation isn't restricted to power generation units only; allowed to manufacturer of

IT : Additional depreciation was to be allowed on setting up of wind electric generator to an assessee who was engaged in manufacture and sale of chemicals

Intel doesn't abuse its dominance if it doesn't restrict access of market to its competitors

Competition Act : Where Intel had not restricted and limited market by foreclosing distribution network to its competitors or denied access to market of microprocessor to its competitors or imposed supplementary conditions or leveraged its dominant position in market of high demand products in market for low demand products, there was no abuse of dominance by Intel

No TP adjustment as superior quality of material was imported from AEs at lesser price than fixed fo

IT/ILT : Where in transfer pricing proceedings, TPO made adjustment in respect of import of raw material from AE located abroad, in view of fact that assessee had imported raw material of superior quality and, moreover, it had also obtained comparative rate of sale, in similar product manufactured by independent parties which showed that assessee was importing even at a higher rate, impugned adjustment made by authorities below was to be set aside