No unjust enrichment if duty was paid under protest without enhancing price of goods owing to differ

Excise & Customs : Where assessee has deposited amount under protest, showed said amount as receivable in balance sheet and has not changed price owing to differential duty demand, refund of said amount is not hit by unjust enrichment

Sec. 153A: In respect of already completed assessment, additions to be made on basis of material fou

IT: In view of provisions of section 153A, in respect of assessment years for which original assessments have already been completed on date of search, total income shall be determined by restricting additions only to those which flow from incriminating material found during course of search

Department must affix order on business premises of assessee when it is returned unserved

Service Tax : Where service of order cannot be effect by provisions of section 37(1)(a) of Central Excise Act, department must serve said order under section 37(1)(b) by affixing a copy thereof on some conspicuous part of place of business and where same is not done, service of order cannot be regard as complete

Cap gain was taxable even if cost of inherited property wasn’t ascertainable but its market value wa

IT: Where property was acquired by assessee through succession, even though cost of acquisition of such capital asset could not be ascertained but said asset had a market value, capital gain was to be computed on its transfer

Refund claim can be filed under Rule 5 of CCR within one year from date of issuing invoices

Cenvat Credit : In case of export of services, claim for refund under rule 5 of CENVAT Credit Rules, 2004 has to be filed within 1 year from date of export of service, i.e., 1 year from date when invoices are raised; date of receipt of payment towards export services is not relevant for determining time of export

SEBI’s takeover disclosure norms were applicable to both purchase and sales effected within promoter

SEBI : Obligation to make disclosure under regulation 7(1A), read with regulation 7(2) of SAST Regulations, 1997 is applicable to both purchase and sale whether effected within promoter group or not

Profit before depreciation to be deemed as operating profit as it will eliminate variation in PLI of

IT/ILT : Best way of computing operating profit, will be to compute profit before depreciation in respect of each of company, i.e., assessee and comparables, as this will take out inconformity or variation in profit level of comparables arising due to adoption of different methods of charging depreciation

Govt. declares 'Onshore rupee bonds' as securities under SCRA

SEBI : Section 2(h)(iia) of the securities contracts (regulation) Act, 1956 – Securities – Notified Securities

Second Schedule amended specifying list of entities excluded from RTI Act

CL : OTHERS /INDIAN ACTS & RULES : Section 24 of The Right to Information Act, 2005 - Power of Securities and Exchange Board to Regulate Issue and Transfer of Securities, etc. – Amendment in Second Schedule of The Right to Information Act, 2005

CCI can now levy interest on non-payment of monetary penalty

COMPETITION LAW/INDIAN ACTS & RULES : Competition Commission of India (Manner of Recovery of Monetary Penalty) Amendment Regulations, 2014 – Amendment in Form I

HC directed Intelligence Officer to return seized docs as he had retained them for more than a year

CST & VAT : Where Intelligence Officer inspected business premises of assessee on 10-11-2011 and seized certain document and more than 18 months had now expired after seizure of documents and its retention by Intelligence Officer without any demonstrable reason, Intelligence Officer was directed to return above documents to assessee

No concealment penalty for inadmissible sec. 80-IB claim if relevant facts for computation of income

IT : Where assessee, an EOU, having claimed deduction under section 80-IB for first time in return of income, withdrew said claim during course of appellate proceedings, in view of fact that all material and relevant facts to computation of total income were duly furnished by assessee, deeming fiction to Explanation 1 to section 271(1)(c) was not applicable to assessee's case and, thus, impugned penalty order passed by revenue authorities taking a view that assessee had raised a false claim for

Excisable value of goods captively consumed by principal would be material cost and job charges for

Excise & Customs : In case goods manufactured by job-worker are sent back by job-worker to his principal for captive consumption by principal, value in hands of job-worker would be 'cost of raw material including job-work charges'

Parent Co. can claim deductions for guarantee sum paid by it to honour borrowings of its subsidiary

IT: Where subsequent to invocation of guarantee clause, assessee made payment of guarantee on behalf of its subsidiary company, since amount in question was paid for business expediency of wholly owned subsidiary company, it was to be regarded as directly relatable to business of assessee and, thus, eligible for deduction as business expenditure

ITAT allows revenue to rely on Linkedin profiles of employees to determine if PE of NR existed in In

IT/ILT : Where in order to support its case that an Indian company constituted assessee's PE in India, revenue sought to file additional evidence in form of Linkedin Profile containing details of employees of Indian company, mere fact that said Linkedin Profile was available in public domain and was not referred to by Assessing Officer earlier, department could not be prevented from bringing that information on record for first time before Tribunal

ST demand can’t be confirmed on basis of grounds not raised in Show Cause Notice

Service Tax : Where show-cause notice proposed levy of service tax under Management Consultancy Services, demand cannot be confirmed under Business Auxiliary Services without putting assessee to notice in that behalf

High Court admits writ against ITAT for suddenly opting for an altogether opposite view in assessee’

IT : Where Tribunal having taken a view that assessee had an arguable case, allowed its application for stay of demand, in view of fact that Tribunal subsequently took a diametrically opposite view by rejecting assessee's adjournment application, writ petition filed by assessee was to be disposed of with a direction to Tribunal to finally hear and decide appeal

HC ordered conditional stay on recovery of demand as it would cause irreparable loss to business of

Excise & Customs : Where assessee sought stay of recovery demand on ground that same would cause business to come to standstill and irreparable loss, High Court granted partial interim stay with conditions

Assessee engaged in iron ore processing and windmill energy generation was entitled to additional de

IT : Assessee-company engaged in business of processing of iron ore in plant and also generation of windmill energy, would be entitled to additional depreciation

HC sets aside order of tax board imposing VAT penalty as assessee didn’t get hearing opportunity

CST & VAT : Where in proceedings before Tax Board, petitioner firm was not served and therefore not represented, there was violation of principles of natural justice and according order passed by Tax Board was to be set aside

Belated request for sec. 12AA registration was condonable as it ensued from filing of application be

IT: Delay in filing appeal against Director (Exemption)'s order be condoned as relevant papers were misplaced