Prior to July 9, 2004, agents dealing in Mutual Funds were exempt from service tax pursuant to Notif

Service Tax : 'Mutual fund units' are goods for purposes of service tax and, therefore, in respect of Commission Agent dealing with mutual funds, said services would be exempt under Notification No. 13/2003 for period prior to 9-7-2004

Unexplained investments upheld as seller had paid taxes on higher sum than shown by buyer in sales d

IT : Where there was difference in value of property as mentioned in sale deed and as confirmed by seller and seller had also filed an affidavit confirming said facts, differential be treated as unexplained investment of assessee

Rail sleepers are not eligible for credit as ‘capital goods’

Cenvat Credit : Rail/PSC (pre-stressed concrete) sleepers classifiable under Tariff Heading 6807 are not eligible for credit as 'capital goods'

Notice of motion to invoke an undertaking given by a Co. couldn’t be barred under sec. 22(1) of SICA

SICA : Where undertaking was given by company while seeking an ex-parte order that damages would be paid to party prejudiced by such order, notice of motion taken out by parties even after company was referred to BIFR would not be barred by virtue of section 22(1) of SICA

Info on website of Foreign co. can’t label it as AE of assessee without any documentary evidence, sa

IT/ILT : In absence of any documentary evidence on record, Assessing Officer merely on basis of information available on website of foreign company, could not opine that Managing Director of assessee-company was also Chairman and Managing Director of said foreign company with whom assessee had transactions worth more than Rs. 34 crores and, therefore, those international transactions were entered into with Associated Enterprise (AE)