No unjust enrichment if duty paid under protest pending investigation and shown as receivables in ba

Excise & Customs : Where assessee has deposited amount under protest as an advance payment pending enquiry and investigation; and showed said amount as receivable in Balance Sheet, refund of said payment is not hit by unjust enrichment

Sec. 14A disallowance couldn’t be made for income not exempt from tax but eligible for sec. 80P dedu

IT : Section 14A would have no application in respect of income not being taxable on account of deduction under section 80-P(2)(d)

Issues pertaining to ST rebate and refund is appealable to Tribunal as sec. 83 refers to sec. 35EE o

Service Tax : Amendment to section 83 by making a specific reference to section 35EE of Central Excise Act, did not make any difference to nature of jurisdiction exercisable by CESTAT under section 86; Tribunal continued to possess jurisdiction to decide on matters pertaining to rebate and refund.

HC admits winding-up of real estate entity as it failed to refund customers’ deposits on failure of

CL: Where real estate company was unable to refund customer's advance on failure of project, winding up petition was to be accepted

Disallowance of HO exp. doesn’t entail concealment penalty in absence of any inaccurate or wrong par

IT/ILT: Where there was no allegation from revenue's side that assessee either furnished inaccurate particulars or wrong facts or any details furnished by assessee were found to be false, imposition of concealment penalty on account of disallowance of head office expenses and interest to non-residents was unjustified

Sec. 68 addition deleted when identity and creditworthiness of creditors were proved

IT : Where assessee took loan from agriculturist and to prove their genuineness and creditworthiness; assessee produced loan confirmation, copy of DD purchased by creditors, copy of voter Id, address and extracts from land register, no addition under section 68 could be made

Quantity discount to distributor for his previous performance couldn’t be reduced from his current t

CST & VAT : Where assessee was engaged in manufacture of home appliances and it allowed quantity discount to its distributors and claimed same as deduction from total turnover while arriving at taxable turnover, in terms of rule 3(2)(c) of Karnataka Value Added Tax Rules, 2005, quantity discount was not allowable as deduction from total turnover

Proviso to sec. 40(a)(ia) allowing deduction for exp. even after TDS default in tax neutral cases ha

IT: Second proviso to sec. 40(a)(ia) is effective retrospectively even if it was inserted by Finance Act, 2012 prospectively from April 1, 2013

Sum incurred to study feasibility of a new venture was capital in nature even if it couldn’t materia

IT : Expenditure incurred on procuring feasibility report for starting a new business is capital in nature and, in such a case, it would be immaterial whether ultimately project has materialized or not

Failure to consider listed plea in support of additional evidence violates principles of natural jus

Service Tax : Non-consideration of assessee's application to receive additional evidence in spite of fact that it was listed for hearing violates principles of natural justice and matter must be remanded back

Payment of sales commission to NR for services rendered outside India won’t be subject to withholdin

IT : Where assessee paid sales commission to its non-resident agents for services rendered by them outside India, sales commission was not chargeable to tax in India so as to deduct TDS on such payments under section 195

ITAT deletes TP adjustments made without considering under utilized production capacity of assessee

IT/ILT : Where in case of assessee, engaged in import of machinery, raw-materials, consumable components and finished goods, TPO made adjustment to assessee's ALP without considering its claim of under-utilisation of capacity, in view of fact that relief so claimed was a vital factor in initial years, impugned adjustment was to be set aside and, matter was to be remanded back for disposal afresh

Details of assets reported in wealth-tax returns by loan defaulter to be shared by I-T Dept. with PS

IT : Sharing of Asset Details as Per Wealth Tax Returns of Loan Defaulters with Public Sector Banks

Authorities have discretion to levy lesser penalty than duty under Rules 96ZO, 96ZP and 96ZQ of Exci

Excise & Customs : Rules 96ZO, 96ZP and 96ZQ provide for discretion to not levy penalty or levy lesser penalty; penalty equal to duty is not mandatory

CLB rejected oppression plea as petitioner couldn’t prove forging of his signature for illegal trans

CL: Where petitioner could not prove that his signature on blank papers was misused for transferring his shareholding and resignation from directorship, petition alleging oppression was to be rejected

Short-term capital losses disallowed as assessee dealt in shares to create artificial losses

IT: Short-term capital loss to be disallowed where trading transactions of purchase and sale of shares had been effected to create artificial loss with a view to reducing tax liability