HC upheld penalty for evasion as goods were loaded from one branch but bills were issued from anothe

CST & VAT: Where assessee was transporting certain goods in a vehicle and on checking of said goods at Information Collection Centre, Zirakpur it was found that these goods were loaded from Zirakpur branch of assessee, whereas bill was issued from Chandigarh branch of assessee, levy of penalty under section 51(7)(b) of Punjab Value Added Tax Act, 2005 upon assessee was justified

Liability to pay interest under IT Act remained intact even if assets of assessee were attached unde

IT: Even a notified person under Special Court (Trial of Offences relating to Transaction in Securities) Act, 1992 is liable to pay interest under sections 234A, 234B and 234C

Services used to maintain a garden under a statutory obligation are eligible for Cenvat credit

Service Tax : Where maintenance of garden is an obligation under relevant pollution control law, Cenvat credit with respect to services used for maintaining garden is admissible

CCI: Presence of other builders offering residential flats in same area rules out dominance of oppos

Competition Law: Where other large well known builders were present in relevant market for development and sale of residential apartments in Yamunanagar, OP could not to be said to be in dominant position

TPO had to act as per law while fixing ALP as nil for sum reimbursed to AE for ‘David Beckham’ adver

IT/ILT : Where TPO had neither rejected method followed by assessee to bench-mark transaction in respect of payment of royalty nor had adopted any recognized method to determine ALP of said transaction, TP adjustment in respect of payment of royalty to AE merely relying upon approval of SIA was not justified

RBI simplifies additional provisioning norms on unhedged foreign currency exposures

BANKING : Clarifications on Capital and Provisioning Requirements for Exposures to Entities With Unhedged Foreign Currency Exposure

Losses from sale of jewellery disallowed and held as unexplained monies as jewellery wasn’t reflecte

IT : Where assessee, a legal heir of 'W', declared certain loss arising from sale of jewellery belonging to 'W', in view of fact that nothing had been disclosed in respect of said jewellery in Wealth tax return, sale in question being bogus, sale amount deposited in bank was to be treated as assessee's income from unexplained sources

Penalty for non-production of delivery note of consignment isn’t justified if valid explanation is o

CST & VAT: Where assessee was transporting rewinding wires by a lorry from Davanagere to Bangalore and on checking of said goods at check post driver produced only a sale bill, which contained name of consignee, and stated that by inadvertence he had not brought delivery note, levy of penalty under section 53(2) of Karnataka Value Added Tax Act, 2003 upon assessee for non-production of delivery note was not justified

No denial of sec. 80-IB relief by AO alleging limit of built-up area without relying on DVO’s report

IT : Assessing Officer, without placing reliance upon report of DVO, could not reject assessee's claim for deduction under section 80-IB(10) taking a view that built up area of residential unit developed by assessee exceeded 1500 sq.ft.

Notice is foundation for any action; grounds not raised in show cause notice can’t be permitted to r

Service Tax : Notice is foundation of an action and, therefore, a plea, which is not taken in notice, shall not be permitted, as person did not have an opportunity to meet same

Revisionary power couldn’t be used by CIT if impugned matter pertaining to sec. 80-IB relief was deb

IT : Question as to when undertaking has commenced development and construction is a debatable issue and when Assessing Officer has taken one plausible view, revision could not be initiated

TP adjustments to be deleted as TPO discarded price quoted by German Oil Organization without any ba

IT/ILT : Where in course of transfer pricing proceedings, TPO made addition to assessee's ALP by rejecting comparable price list of an independent international organization submitted by assessee without assigning any reasons therefor, impugned addition made by him deserved to be deleted

Deduction at 27.44% of GP available in addition to deduction at 30% towards labour charges under Kar

CST & VAT: Where assessee was engaged in execution of civil works contracts and it had adopted standard rate of deduction provided under rule 6(4)(n)(v) and claimed standard deduction of 30 per cent on its contract receipt towards labour and like charges, in view of clear, express and unambiguous provisions of rule 6 of Karnataka Sales Tax Rules, 1957 and in particular Explanation II thereto, Assessing Authority was correct in allowing deduction of 27.44 per cent of gross profit on labour charge

CLB allows impleading of buyer of Co.’s property to explain reasons for extending undue financial ga

CL : Where from facts it was evident that property of company had been sold to extend some financial gains to buyer, proposed buyer would be a necessary and proper party to clarify/ explain this position, hence, prayers for impleading him and amendment in Company Petition were to be allowed

Jurisdiction couldn’t be transferred for co-ordinated investigation if assessee wasn’t given a chanc

IT: Where pursuant to search proceedings carried out in case of connected concern, jurisdiction of assessee's case was transferred from one place to another place for purpose of co-ordinated investigation, in view of fact that said order was passed without giving assessee details of document seized and opportunity of being heard, there being violation of principles of natural justice, order so passed deserved to be set aside