Sec. 143(2) notice is compulsory in case of block assessment; any omission isn't a mere procedural l

IT : Notice under section 143(2) would be mandatory even in case of block assessment proceedings

No sec. 68 additions by AO without making sec. 133 inquiries if onus cast on assessee was discharged

IT : Where assessee in order to prove genuineness of transactions relating to receipt of booking amount of flats, supplied address and PAN of concerned persons, it had discharged its primary onus and, therefore, Assessing Officer could not make addition of said amount to assessee's taxable income without making proper inquiries under section 133(6)

VSATs are not satellite receivers; classifiable as 'electronic goods'

CST & VAT : VSAT are different from 'satellite receivers' as per technical specification, common parlance as well as end-use test and, therefore, they are not classifiable as 'satellite receivers' but are classifiable under residual entry of electronic goods

ITAT's order was arbitrary as it deleted ad-hoc addition of AO without assigning any reasons and was

IT : Where Tribunal deleted a part of addition made by Assessing Officer to assessee's taxable income on estimate basis without assigning any reasons, said order of Tribunal being arbitrary in nature, was to be set aside

ITAT slams AO for denying depreciation on intangibles after apportioning that sum towards goodwill

IT : Where assessee having acquired magazine business as on-going concern, claimed depreciation in respect of amount paid for acquiring intangible assets like trademark and copyright, in view of fact that depreciation was allowable on goodwill like any other intangible asset, Assessing Officer was not justified in apportioning certain amount towards acquisition of goodwill and denying depreciation on said amount

Extended period of limitation isn’t invocable in cases of retro amendment in law

Service Tax : Where earlier judgments of Tribunal were in favour of assessee and law had to be amended retrospectively, extended period of limitation was, prima facie, not invocable

Acquirer-co. can complaint against heir of deceased employee for vacation of property illegally obta

CL: Where by virtue of a scheme of arrangement respondent-company had become owner of a quarter wrongfully withheld by petitioner of, heir of deceased employee, respondent had locus to file complaint under section 630 against petitioner and petitioner was to be directed to vacate that quarter

Case remanded on issue of TP adjustment of AMP exp. after considering docs filed by assessee before

IT/ILT: Where assessee reiterated before Tribunal that no adjustment could be made on account of AMP expenditure and filed certain additional supporting documents supporting its claim, same were to be verified by TPO

Trust registration could be revoked from AY 2011-12 even if hit by proviso to sec. 2(15)

IT : In terms of Circular No. 1/2011 dated 6-4-2011, registration already granted under section 12A can be cancelled only for assessment year 2011-2012 and subsequent assessment years; in instant case, assessment year involved being 2009-10, Assessing Officer could not cancel registration already granted to assessee-trust by taking a view that activities of trust were hit by proviso to section 2(15)

HC sets aside Tribunal’s order as it was passed without considering assessee’s plea of financial har

Excise & Customs : Where assessee seeks repeated adjournments and fails to appear, Tribunal can proceed but must pass an order on merits assigning reasons for its conclusion; hence, order passed without considering assessee's plea of financial hardship was remanded back for consideration afresh

'Subrata Roy' had valid excuse for seeking one day's adjournment; HC allows his recall application

IT : Where assessee requested for one day adjournment and did not advance any arguments on questions of law, judgment passed [in CIT v. Subrata Roy [2013] 38 taxmann.com 324/219 Taxman 133 (All.) was to be recalled

HC sanctioned unquestioned scheme of arrangement of two power generating entities in their best inte

CL : Where petition filed seeking sanction of scheme of amalgamation of two electric power generating company was found to be in best interest of both companies and no objection was raised by any party, same was to be sanctioned

No right of cross-examination if demand was based on records instead of statements of witnesses, rul

Excise & Customs : Where demand is based on records/documents and not on basis of statements of witnesses, there is no question of grant of right to cross-examination

Concealment penalty upheld as assessee had given false info about date and cost of acquisition of ca

IT : Where assessee gave incorrect information about date of acquisition and cost of acquisition of a property sold during relevant year, it was sufficient to raise an inference that assessee intended to evade tax liability on capital gain and, therefore, impugned penalty order passed by Tribunal under section 271(1)(c) was to be upheld

CBDT authorizes ‘IFCI Ltd.’ to issue tax free bonds up to Rs 430 crores

IT : Section 10(15), item (h) of sub-clause (iv) of the Income-tax Act, 1961 - Exemptions - Interest on bonds/debentures - Specified companies authorized to issue tax-free, secured, redeemable, non-convertible bonds during F.Y. 2013-14 subject to specified conditions - Amendment in Notification No. 61/2013 [F.No.178/37/2013-(ITA-I)/SO 2424(E), dated 8-8-2013

CBDT orders for distribution of zones amongst CBDT members with effect from April 1, 2014

IT/ILT : Distribution of zones & work arrangements of specified members of CBDT w.e.f. 1-4-2014

ITAT remanded matter as comparable relied upon by TPO to confirm additions were rejected in subseque

IT/ILT-I : Where in course of transfer pricing proceedings, TPO made adjustment to assessee's ALP on account of provision for promotion and marketing services, in view of fact that some of comparables selected by TPO had been excluded in subsequent years, impugned adjustment was to be set aside and, matter was to be remanded back for redetermination of ALP after excluding aforesaid comparables

Deputy director can issue notice u/s 131(1A) without disclosing his reason on suspecting concealed i

IT : Where on basis of 'information' that group companies provided accommodation entries, Director of Income-tax founded 'reason to believe', same could not be challenged

CLB admits oppression plea against co., sets aside its illegal acts of shares allotment and removal

CL: Where allotment and transfer of shares, appointment of director and termination of directorship are unlawful, same are to be set aside restoring status quo ante

Charitable trusts not bound to initiate activities specified in object clause for seeking sec. 80G r

IT : Statute does not require that charitable trust should carry out all activities which are mentioned in object clause of trust

Retail stores allowing use of their facilities to sellers were liable to ST under Business Support S

Service Tax : Allowing concessionaires/sellers to use various common facilities of retail stores and getting consideration thereagainst amounts to 'infrastructural support' and 'accounting and processing of transactions' and is liable to service tax under Business Support Services

RBI tweaks Merchanting Trade norms; traders with dues of 5% of annual export to be included in cauti

FEMA/ILT : Merchanting Trade Transactions - Revised Guidelines