Limitation period for filing appeal counted from date of serving of corrigendum order and not from o

Service Tax : Where, vide corrigendum order, liability of assessee is substantially changed, period of limitation for filing appeal must be counted from date of service of corrigendum order upon assessee

RBI allows non-residents to transfer assets to Indian entities on closure of their branch or LO in I

FEMA/ILT/INDIAN ACTS & RULES : FEM (Establishment in India of Branch or Office or Other Place of Business) (Amendment) Regulations, 2014 - Insertion of Regulation 8

NRs allowed to enter into currency futures or exchange traded currency options to hedge risk exposur

FEMA/ILT/INDIAN ACTS & RULES : FEM (Foreign Exchange Derivative Contracts) (Amendment) Regulations, 2014 - Insertion of Regulation 5B

HC directs Vodafone South to furnish bank guarantee for deficiency in payment of tax demanded by rev

IT : During pendency of appellate proceedings before Tribunal, assessee was directed to furnish a bank guarantee for difference of amount demanded and amount already paid towards tax demand

Commissioner (Appeals) is departmental officer and is bound by CBEC’s circular

Service Tax : Commissioner (Appeals) is a departmental officer and is bound by CBEC circular

Civil and flooring work exp. incurred on leasehold premises was capital in nature, says ITAT

IT : Capital expenditure incurred on premises taken on rent or lease etc. for carrying on business is not to be allowed as deduction in year of its incurring rather same will be capitalized entitling it to depreciation

Stock transfer on discontinuation of business is to be valued at market price and not at cost, rules

IT : Where a business is discontinued and stock transferred, valuation of closing stock would be at market value

Requisite Form to carry ‘Copper Scrap’ on a vehicle is Form VAT-505 and not Form VAT-515 under Karna

CST & VAT : Where assessee was carrying copper scrap for conversion into copper strips, rods and bars from Belgaum to Bhiwandi, Thane and Bhimpore through a goods vehicle and said goods were accompanied by form VAT-515, in view of notification dated 8-8-2008 issued under provisions of Karnataka Value Added Tax Act /Rules, appropriate form that was required to be accompanied with goods was form VAT-505 and, therefore, levy of penalty under section 53 upon assessee was justified

Temporary transfer of copyright in films doesn't amount to sales; levy of ST on it is constitutional

Service Tax : Variant modes of business transactions between producer and distributor, distributor and sub-distributor or area distributor or exhibitor (theatre owner) are not "sale or deemed sale of goods" and therefore, Levy of service tax on Temporary transfer of copyright in film under section 65(105)(zzzzt) is constitutionally valid

Benefit of sec. 73(3) wasn’t available if payment was made after receipt of summons and launch of in

Service Tax : Where tax and interest were paid by assessee after summons were issued to them and investigation was initiated against them, it could not be said that assessee had made payment on their own and, therefore, benefit of section 73(3) was inapplicable and penalty was leviable