Mere supply of machineries by assessee without transferring its control won’t be deemed as sales

CST & VAT : Where assessee was granted a licence for setting up of a cement plant and thereupon it entered into an agreement with one 'L' and placed order on it of drawing/specifications for supply of certain machineries and subsequently said agreement was followed by yet another agreement, which envisaged a specific condition about supply of machineries by assessee to 'L' and Assessing Officer viewed that supply of machineries by assessee to 'L' was transaction of sale, since machineries procur

Assessee providing educational facilities and constructing dental colleges was engaged in charitable

IT : Genuine objects of providing education and genuine activities of constructing building in which a college was to be established, would entitle assessee to registration under section 12AA

MCA extends further validity of reserved names of companies

COMPANIES ACT, 2013 : Section 4 Of The Companies Act, 2013 – Extension Of Validity Of Reserved Names

MCA constitutes expert committee to examine issues related with maintenance of cost records and cost

COMPANIES ACT, 2013 : Section 148 of the Companies Act, 2013 - Central Government to Specify Audit of Items of Cost in Respect of Certain Companies – Constitution of Expert Committee to Examine Issues Relating to Maintenance of Cost Records and Cost Audit

Services received by UBI for transfer of funds to its member banks would fall under Banking and fina

Service Tax : Payment to a foreign co-operative society 'Society for Worldwide Inter-bank Financial Telecommunication (SWIFT)' for transfer of funds to members banks is, prima facie, taxable under Banking and Other Financial Services

Expenditure on upgradation, anti-virus and annual maintenance of software are allowable as revenue e

IT-I : Where assessee rendering detailed engineering services, made provision for costs on completed contracts in respect of various parties, in view of fact that in respect of some of parties liabilities were ascertained whereas in respect of other parties exact amount could not be quantified and provisions were contingent in nature, assessee's claim was to be partly allowed

Assessee couldn’t be liable for interest on pretext of wrong utilization of credit if it was subsequ

Cenvat Credit : Where assessee paid service tax on imported services under reverse charge and took credit thereof, said credit was not wrongly taken and merely because subsequently credit is reversed and tax paid is claimed as refund, assessee cannot be made liable to interest for wrong availment/utilization of credit

HC allows voluntary winding-up of Co. as it didn’t have any pending claims or statutory dues

CL: Where after perusing material on record, neither any claim was found pending, nor any statutory due was there, nor any assets of company were available, it would be appropriate to grant permission for dissolution of company

Income earned from offshore supplies as a part of composite contract isn’t taxable in absence of any

IT/ILT : Where pursuant to Contract entered into by assessee, a foreign company, with Power Grid Corporation for setting up a fibre optic system, AO made addition to assessee's income in respect of offshore supplies of goods, in view of fact that said contract was only for procurement of Cables that too outside India, no part of income could be said to be attributable to assessee's PE in India and, therefore, impugned addition deserved to be deleted

ITAT lays down litmus test to determine ‘closely linked’ transactions for TP purposes and for their

IT/ILT : When the transactions are influenced by each other, particularly in determining the price/profit involved in the transactions then those transactions would be regarded as 'closely linked' transactions - Held, Yes – Transactions of hiring of equipment to be used for execution of a project to be clubbed only to the extent of number of transactions with each AE – Held, Yes

Sum paid to NR for providing equipment and software to Indian clients facilitating 'Forex deal match

IT/ILT : Where, assessee, a UK based company, entered into a contract with Indian clients for providing its foreign exchange deal matching system services, in view of fact that in terms of contract, assessee allowed its subscribers to use software and computer system to have access to its portal for finding relevant information and matching their request for purchase and sale of foreign exchange, it amounted to imparting of information concerning technical, industrial, commercial or scientific e

Assessee had a right to cross examine that witness whose statement had been relied upon by departmen

Excise & Customs : Cross-examination is valuable right of accused/noticee in adjudication/quasi-judicial proceedings, as said proceedings can have adverse consequences; non providing of said opportunity amounts to violation of natural justice

Brokerage in respect of securities transactions is outside the ambit of sec. 194H TDS

IT : Brokerage paid in respect of transaction in securities is specifically excluded from purview of section 194H; no TDS was to be deducted

AO to record his satisfaction under sec. 153C even if he has jurisdiction over searched person and o

IT: Even where Assessing Officer of both 'searched person' and 'other person' is same, recording of satisfaction is still required and mandatory, so as to initiate proceeding against such 'other person'

Audited Books, Sacred Books! Revenue couldn’t reject audited books to make ex-parte assessment

IT : Books of account cannot be rejected and best judgment assessment cannot be done in a case where accounts have been audited under section 44AB

No benefit of ST Amnesty Scheme even if 50% of tax dues wasn’t paid prior to 31-12-2013 due to calcu

Service Tax : Under Voluntary Compliance Encouragement Scheme, 2013 tax payment less than 50 per cent of total declared tax dues prior to 31-12-2013, even if on account of bona fide calculation error, would amount to violation of section 107(3); declaration was to be rejected

No penalty or prosecution if return was voluntarily filed in good faith prior to detection of concea

IT : Where return filed by petitioner is voluntary, filed in good faith and before detection of any concealment, neither penalty would be levied under section 271(1)(c) nor any criminal proceedings under section 276C could be allowed

Department can’t demand duty from a person dealing in smuggled goods without confiscating said goods

Excise & Customs : Section 125 applies only if goods are confiscated; therefore, A person dealing in smuggled goods cannot be asked to pay duty under section 125 of Customs Act, if said goods are not seized/confiscated

HC upheld disallowance of commission as assessee failed to prove nature of services rendered by sub-

IT : Since appellant failed to produce evidence regarding sub-agency commission paid by showing nature of services rendered by sub-agents, said expenditure could not be allowed

Winding-up proceedings initiated through GPA didn’t get vitiated due to defect in form of GPA if it

CL : Winding up proceedings instituted through General Power of Attorney (GPA) were not to be rejected only on ground of defect in GPA when steps had been taken to cure that defect

Sale of Thermoseal and Ra Thermoseal is liable to VAT at 8%; they are not ‘medicine’

CST & VAT : Where assessee was engaged in manufacture of Thermoseal and Ra Thermoseal and it sought determination as regards classification of above products sold under its invoice dated 13-9-1993 and contended that both products were 'medicines' covered by Entry No. 24 of Part I of Schedule C of Bombay Sales Tax Act, 1959, said products would not fall under above entry because of exclusion clause contained therein

Employer’s and employee’s contribution to PF and ESI are deductible if paid before due date of filin

IT-I : Payments of employee's and employer's contribution to provident fund and ESI made on or before due date for filing return of income under section 139(1) have to be allowed as deduction while computing taxable income