No denial of Cenvat credit merely on technical grounds if necessary ingredients for its availment we

Cenvat Credit : Technicalities cannot stand in way of Cenvat Credit, if necessary ingredients required for availing same under prescribed forms are otherwise available

NTPC could make downward revisions of provisional sales when final tariff of electricity was determi

IT: Where assessee electricity generating company had to carry on billing in terms of instruction of Regulatory authority CERC, till approval of tariffs and it was subject to adjustment after final tariff determination, reduction of sales was to be allowed

No unjust enrichment if assessee got refund of duty paid under protest in pursuance of SCN of earlie

Excise & Customs : Where assessee has paid duty under protest in pursuance of a show-cause notice for clearances already made during prior period and later, on winning case, applies for refund thereof, principle of unjust enrichment would not apply, as there was no occasion for assessee to recover said amount

Co. can’t be absolved from redressing investor’s grievance when its management is taken over by work

CL: Since company was obliged to redress investor grievances from time to time as long as it existed as a juristic person, contention of appellant that management was taken over by workers and factory premises were in possession of auction purchaser did not absolve company from its obligation

TPO couldn’t choose Cost Plus Method to fix ALP if there was functional differences in export and do

IT/ILT : Where assessee was engaged in business of manufacture and sale of industrial products such as decanters, separators etc. to its AE located abroad as well as in domestic sector, in view of fact that there were various differences in export segment and domestic segment such as market functions, geographic difference, volume difference, credit risk, related party transactions etc., TPO was not justified in adopting CPM as most appropriate method in order to make adjustment to assessee's AL

Time spent by EOU in legal remedies can’t be compensated by extension of its original period of Lett

Excise & Customs : Attachment and recovery after conformance of demand and order of Commissioner (Appeals) in favour of revenue, cannot be regarded as arbitrary or mala fide, merely because same is prior to disposal of stay petition before Tribunal

ITAT teaches basics to AO; reference should be made to DVO if assessee objects to stamp duty valuati

IT : Where assessee had title over land and he objected before Assessing Officer about value adopted by Stamp Valuation Authority which exceeded fair market value of land, Assessing Officer should have made reference to valuation officer under section 50C(2)

Now banks can decide on lending cap of loans to be granted against pledging of gold by non-agricultu

BANKING : Loans Against Gold Ornaments and Jewellery for Non-Agricultural End-Uses

RBI eases approval procedure for export of goods and services

FEMA/ILT : Export of Goods and Services - Project Exports

Operation and maintenance of windmills weren’t liable to ST under consulting engineer’s services

Service-tax : Operation and maintenance of windmills sold by client to their customers does not amount to advise/consultancy in any field of engineering and cannot not, therefore, be covered under consulting engineer

ITAT denies TDS credit to deductee on failure of deductor to deposit TDS amount to credit of Govt. i

IT : Tax deducted at source by deductor but not paid to Central Government within financial year could not be treated as payment of tax on behalf of assessee deductee and thus, assessee, could not claim credit of TDS in that financial year

No denial of export rebate on non-production of ARE-1 if other evidences proved that goods had been

Excise & Customs : Export rebate cannot be denied merely for non-production of original and duplicate copies of ARE-1, provided there is evidence that : (i) goods have been exported and (ii) they were duty-paid

No bar on block assessment if panchnama was signed by assessee even if locker mentioned in warrant y

IT : Where panchnama was signed by assessee, merely because warrant issued was limited to a locker maintained in her name which yielded nothing, same would not bar assessment under section 158BD

No service tax on maintenance or repair of motor vehicle parts by non-authorized service stations

Service Tax : Non-authorised Service/maintenance centre or workshop doing maintenance or repairs of any part of motor vehicle are excluded from scope of 'Management, Maintenance or Repair Services

Sum received on transfer of carbon credits isn’t taxable as no profit element is involved on their t

IT : Where assessee, engaged in business of power generation, received carbon credits for project activity of switching off fossil fuel from naptha and diesel to biomass, carbon credits not being linked with power generation, amount received on their transfer did not have element of profit or gain and it was not taxable

TPO couldn’t select three wheeler manufacturer as a comparable for ‘Yamaha Motors’ dealing in two wh

IT/ILT: Company manufacturing three wheeler is functionally dissimilar to company engaged in trading of two wheelers and cannot be selected as comparable

Signing a less favourable franchisee agreement with seller or denial to recall dead stock isn’t abus

Competition Act : Where fact that OP sports goods manufacturer signed agreement with informant seller that was less favourable or that OP did not take back dead stock, would not be said to be abusive of dominant position

Rebate is allowable on export of goods only when excise duty thereon is paid prior to export

Excise & Customs : Rebate is allowable only if excisable goods are exported after payment of duty i.e. duty is paid prior to export; payment of interest on belated payment of duty after goods have been exported cannot be construed to mean that condition of payment of duty prior to export of goods has been complied

HC affirms sec. 68 additions as assessee had failed to substantiate source of huge cash deposited in

IT : Where in respect of huge amount of cash deposited in bank, assessee failed to give list of persons who advanced cash to him along with their confirmation in respect of said cash credits, Assessing Officer was justified in adding said amount to assessee's taxable income under section 68.