Service Tax : Where notice is issued in name of employee of Railways and not in name of service provider/assessee being railways, entire proceedings including notice, adjudication and appeal in name of said employee was void
Tuesday 22 July 2014
Sum incurred on higher studies of an associate’s daughter disallowed as it would benefits her career
IT : Where sending daughter of an associate to foreign for higher study was not in interest of profession of advocate firm but for furthering her career, expenditure was to be disallowed
Insurance services provided to vehicles used in residential colonies of employees isn’t eligible for
Service Tax : Service tax paid on insurance of vehicles provided by assessee-manufacturer for use by residents of colony maintained for its workers is not eligible for credit
No preferential shares at 85% discount despite financial exigencies if no efforts were made to rehab
CL: Where in spite of unsound financial position no efforts were made to rehabilitate company and it was proposed to issue equity shares at rate of 85 per cent discount on preferential basis on ground to meet fund requirement for company's new business, it did not constitute special circumstance to sanction petition for issuing share at a discount beyond 10 per cent
TPO couldn’t choose comparables after rejecting objections of assessee by passing cryptic order
IT/ILT : Where TPO selected companies which were not functionally comparable to assessee for purposes of benchmarking international transaction entered into by assessee and objections of assessee in that regard were rejected by a cryptic and laconic order, issue pertaining to said comparables was remanded to TPO for fresh consideration
MCA directs ICAI to suggest parameters for fraud reporting by auditors
COMPANIES ACT, 2013 : Section 149 of the Companies Act, 2013 - Company to have Board of Directors – Changes in Companies Act
Details of funds utilized by Cos on CSR activities would be available upto Sept. 2015, says
COMPANIES ACT, 2013 : Section 135 of the Companies Act, 2013 - Corporate Social Responsibility – Utilisation of CSR Funds for Welfare of SCs/STs
Ministry initiates steps to repeal Donations to National Funds Act
COMPANIES ACT, 2013 : Section 182 of the Companies Act, 2013 – Prohibitions and Restrictions Regarding Political Contributions – Provision Regarding Contribution to Political Parties by the Companies
CLB benches barred from accepting depositor's applications on default in repayment of deposits under
COMPANIES ACT, 2013/COMPANIES ACT, 1956 : Section 74 of The Companies Act, 2013 - Repayment of Deposits, etc., Accepted Before Commencement of this Act – Clarification on Section 58A(9) and Section 58AA of the Companies Act, 1956
FinMin keeps intact interest rates on PPF
IT : Section 5 of the Public Provident Fund Act, 1968 - Interest - Notified Rate of Interest on Subscriptions Made to the Fund on or After 1-4-2014 and Balances at the Credit of Subscriber
[Indian Customs Order] : Appointment of Common Adjudicating Authority
F.No.437/82/2014-Cus IV
Government of India
Ministry of Finance
Department of Revenue
(Central Board Excise & Customs)
*****
New Delhi, dated 21st July, 2014
ORDER
In terms of Notification No.15/2002-Customs (N.T.) dated 07.03.2002 (as amended)
issued under sub-section (1) of section 4 of the Customs Act, 1962 (52 of 1962), the Board
hereby assigns the Show Cause Notice F.No.23/17/2011-DZU/2864-2874 dated 09.06.2014
issued by Additional Director General, Directorate of Revenue Intelligence, Delhi Zonal Unit,
New Delhi in the case of M/s Cortel India, I-17, 1st Floor, Sector-9, NOIDA, Uttar Pradesh
and others to the Commissioner of Customs, Inland Container Depot, Tughlakabad, New Delhi
for the purpose of adjudication.
(R.P.Singh)
Director (Customs)
Copy to:-
1. The Additional Director General, Directorate of Revenue Intelligence, Delhi Zonal Unit,
B-4, 6th Floor, Paryavaran Bhawan, C.G.O. Complex, Lodhi Road, New Delhi.
2. The Commissioner of Customs, C-56/42, Renu Tower, Sector-62, NOIDA, Uttar Pradesh
3. The Commissioner of Customs, Inland Container Depot, Tughlakabad, New Delhi-
110020.
4. webmaster.cbec@icegate.gov.in
[Indian Customs Order] : Appointment of Common Adjudicating Authority
F.No.437/81/2014-Cus IV
Government of India
Ministry of Finance
Department of Revenue
(Central Board Excise & Customs)
*****
New Delhi, dated 21st July, 2014
ORDER
In terms of Notification No.15/2002-Customs (N.T.) dated 07.03.2002 ( as amended)
issued under sub-section (1) of section 4 of the Customs Act, 1962 (52 of 1962), the Board
hereby assigns the Show Cause Notice F.No.23/17/2011-DZU/2663-2669 dated 27.05.2014
issued by Additional Director General, Directorate of Revenue Intelligence, Delhi Zonal Unit,
New Delhi in the case of M/s Malhotra Electronics Pvt. Ltd., 11-C, Udyog Kendra, Greater
NOIDA, U.P. and others to the Commissioner of Customs NOIDA, Uttar Pradesh for the
purpose of adjudication.
(R.P.Singh)
Director (Customs)
Copy to:-
1. The Additional Director General, Directorate of Revenue Intelligence, Delhi Zonal Unit,
B-4, 6th Floor, Paryavaran Bhawan, C.G.O. Complex, Lodhi Road, New Delhi.
2. The Commissioner of Customs, C-56/42, Renu Tower, Sector-62, NOIDA, U.P.
3. The Commissioner of Customs, Inland Container Depot, Tughlakabad, New Delhi-
110020
4. webmaster.cbec@icegate.gov.in
Revenue must pass speaking order while rejecting claim of ST refund, rules HC
Excise & Customs : Competent authority is obliged to hear and consider refund claim of assessee on its own merits; mere communication rejecting refund claim could not be termed as an order
Trust can avail of depreciation on asset even if sum incurred on its acquisition is claimed as appli
IT : A trust registered under section 12A, can claim depreciation on assets of which cost has already been allowed as application of income
VAT penalty upheld as assessee failed to obtain transit pass and filed docs without sealing of chec
CST & VAT : Where assessee, a transporter, was transporting in a vehicle goods from Delhi to Tamil Nadu through Bangalore and CTO intercepted said vehicle in Karnataka State and thereupon person in-charge of vehicle had not produced necessary documents immediately and produced Xerox copies of documents after a lapse of five hours, wherein seal and signature of entry check post was not available, imposition of penalty upon assessee under section 53(12) of Karnataka Value Added Tax Act, 2003 was j
Interest on loan taken against FDRs held allowable as it was incurred exclusively to keep intact inc
IT: In order to protect interest earnings from fixed deposits and to meet her financial needs, when an assessee raises a loan against the fixed deposits, so as to keep the source of earning intact, the expenditure so incurred in wholly and exclusively to earn fixed deposit interest income has to be allowed as deduction
TP adjustment set aside as average margin of selected comparables was lower than operating margin of
IT/ILT: Where TPO made addition to assessee's ALP in respect of ITES services provided to its AE, in view of fact that classification of ITES into low-end BPO services and high-end KPO services for comparability analysis was not just and proper and, moreover, mean margin of eleven companies comprising six selected by assessee and five by TPO was lower than assessee's operating profit margin, impugned addition was to be set aside
No need to provide hearing opportunity to assessee before passing provisional attachment order under
IT : Statutory provision of section 281B does not contain requirement of hearing before passing order of provisional attachment of assessee's bank account
No withholding tax from sum paid to non-resident for services rendered outside India if it wasn’t ta
IT/ILT : Where amounts are paid outside India to persons outside Indian territory, who does not have any tax liability as far as I.T. Act, 1961 is concerned, said sum cannot be considered as 'sums chargeable' under provisions of this Act
No custom duty recovery from property of spouse of defaulter even if it was acquired from sums belon
Excise & Customs : Recovery can be made only from 'defaulter' and properties held by him and not from properties held in name of 'wife' or 'children' even if same are purchased out of money belonging to defaulter
Remedy of winding-up not allowed where a different view other than one filed by petitioner was avail
CL : Remedy of filing winding up petition cannot be allowed to be used in a case where it is possible to take different view than one propounded by petitioner
No disallowance for commission paid to NR if tax wasn’t withheld therefrom because NR didn’t have a
IT/ILT: Where assessee relying upon Circular No. 786, dated 7-2-2000, paid commission to non-resident without deducing tax at source taking a plea that parties to whom commission was paid, did not have permanent establishment in India nor had they rendered any technical services, in view of failure of revenue to bring any contrary material on record, payments in question could not be disallowed on account of non-deduction of tax at source
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