Tribunal doesn't have power to extend period of limitation prescribed by law for entertaining appeal

Service Tax : Appellate Tribunal does not have power or authority to extend period of limitation prescribed by statute, for entertaining appeal before Commissioner (Appeals)

Case remanded for de novo assessment as rental value of property wasn't determined as per direction

IT: Where while making de novo assessment, Assessing Officer relied upon decision of co-ordinate bench of Tribunal but failed to take into consideration directions given by Commissioner for making necessary enquiries for determining fair rental value of property, matter was to be restored to file of Assessing Officer for de novo assessment in accordance with law

Prior to 1-4-2008, transport service for clearance of goods from place of removal was eligible 'inpu

Cenvat Credit : Prior to 1-4-2008, transport service for clearance of goods from place of removal is eligible for Cenvat credit as 'input service'

Pact between customer and seller wasn't anti-competitive as party wasn't working at horizontal level

Competition Law: Where OP had competitive constraints due to presence of other developers in relevant market of provision of services for development and sale/purchase of residential apartments in Tamil Nadu, OP could not be said to be dominant in relevant market

Sales commission paid to NR agent for services rendered outside India wasn't taxable in India; no wi

IT/ILT : Where assessee-company made payment of sales commission to a foreign party by direct remittance for services rendered outside India, amount in question not being chargeable to tax in India, assessee was not required to deduct tax at source while making said payments

Penalty couldn't be imposed on stock transfer merely because it was not followed by a duly filled up

CST & VAT : Where Assistant Commercial Tax Officer intercepted a vehicle on 15-10-1996, wherein goods of assessee were being transferred as stock transfer, and having found that declaration Form No. ST-18A accompanied with goods was lying blank imposed penalty under section 78(5) of Rajasthan Sales tax Act, 1994 upon assessee, imposition of penalty was not justified

No reassessment as profit was treated as capital gain after detailed inquiry during original assessm

IT : Where transactions were treated in nature of capital gain after making detailed inquiry in scrutiny, no reassessment would be sustainable

Interest was payable on differential duty even if it duty was paid before finalization of provisiona

Excise & Customs : In case of provisional assessment, where there is delay in payment of duty (part or full) for whatsoever reason, interest is required to be paid from first day of month succeeding month for which such duty is determined to date of payment of duty even if assessee has paid duty before finalisation of assessment

Selection of wrong code in I-T return won't turn a Public Co. into Private Co. to recover unpaid tax

IT: Where assessee-company was registered as a public limited company and also it came out with public issue, then merely because wrong code number applicable to private company was selected in return, section 179 could not be applied making its director liable for arrear of tax

Telecom operators are eligible to avail of credit of ST paid on inter usage connection services

Cenvat Credit : A telecom operator providing telecom services is, prima facie, eligible to take credit of Inter Usage Connection (IUC) charges paid against bills raised by other telecom operators

HC upheld imprisonment sentence against appellant-Director for violating Collective investment schem

CL : HC convicted appellant-company and its Managing Director for contravening sub-section (1B) of section 12 of SEBI Act as it collected money from the investors under its CIS schemes without registration with SEBI and it also committed contravention of the provisions of section 24 of the Act by not complying with the Regulations framed by SEBI and the directions issued by the Chairman.

Question of retrospective effect of notification which is co-related with rate of duty isn't appeala

Excise & Customs : Question whether exemption Notification can be given retrospective effect is a question having direct co-relation with rate of duty for purpose of assessment and appeal involving such matters is not maintainable before High Court.

HC quashed reassessment notice as info provided by banks about fake accounts didn't pertain to relev

IT : Where information about fake bank accounts created by certain companies for channelising fund was not related to relevant year, notice for reassessment was to be quashed

Scope of term 'Total Income' under sec. 5 can't be used for determining additional tax for settlemen

IT : For computing additional tax for settlement application, definition of 'total income' under section 5 not applicable in view of the deeming fiction contained in Clause (ii) of sub-section (1B) of section 245C whereby total income has to be considered as if the aggregate of the total income returned and the income disclosed would be the total income. Such deeming fiction must be allowed its full effect

Payment to seconded employees is FTS; Foreign co. is real employer if Indian co. can cancel secondme

IT/ILT: Overseas entity was the real employer of seconded employees when Indian entity had only the right to terminate the secondment without conferring the right to terminate the original employment. Reimbursement of salary of seconded employees to the overseas entities could not be characterized as stewardship and was to be regarded as FTS when they rendered quality control services till the necessary skills were acquired by the resident employee group

Excise duty of prior years was to be allowed in year of adjudication even if books were maintained o

IT : Where assessee's liability to pay excise duty relating to earlier years was adjudicated during relevant assessment year, assessee could claim deduction of amount so paid in assessment year in question even though books of account were maintained on mercantile system of accounting

Penalty couldn't be imposed on stock transfer because it was not followed by a duly filled up Form S

CST & VAT : Where Assistant Commercial Tax Officer intercepted a vehicle on 15-10-1996, wherein goods of assessee were being transferred as stock transfer, and having found that declaration Form No. ST-18A accompanied with goods was lying blank imposed penalty under section 78(5) of Rajasthan Sales tax Act, 1994 upon assessee, imposition of penalty was not justified

Income arising to FIIs from derivative transactions would be capital gains and not business income

IT : Following order passed by Tribunal in assessee's own case relating to earlier assessment year, income arising from transactions of derivatives to assessee, a FII, could not be treated as business profit rather same had to be assessed under head 'capital gain'