HC directs AO to consider representation filed by assessee for VAT refund alleging illegal collectio

CST & VAT : Where Assistant Commissioner in appeal set aside levy of tax upon assessee and thereupon assessee approached for refund of tax illegally collected from it and finally it had sent a representation on 2-5-2014, which was not considered so far, Assessing Officer was directed to consider representation and pass appropriate order

Sec. 155(15) covers situations in which stamp duty value is revised and not where reference is made

IT : Section 155(15) is invoked only in case of situations covered by section 50C(2)(b) which refers to only values adopted or assessed by stamp valuation authorities; DVO's value is outside scope of section 155(15)

In case of defective appeals Tribunal shall grant opportunity to rectify defects before rejecting it

Excise & Customs : When Tribunal notices defects in appeal, Tribunal must not dismiss appeal; instead, Tribunal should afford an opportunity to appellant to rectify defects in view of powers under rule 11(2) of CESTAT (Procedure) Rules, 1982 by extending time

Holding period of property is to be counted from its allotment date and not from its registration da

IT : In order to determine taxability of capital gain arising from sale of property, it is date of allotment of property which is relevant for purpose of computing holding period and not date of registration of conveyance deed

Sums paid to agent located abroad for services rendered outside India couldn’t be taxed under sec. 6

Service Tax : Payments made to agents located abroad for services rendered outside India cannot, prima facie, be taxed under section 66A, as services are not 'received' in India; hence, pre-deposit was reduced/waived accordingly

Contribution to chit fund isn't an approved mode of investment under sec. 11(5)

IT : Chit fund business is governed by principles of mutuality as contribution to a chit fund is contribution to one self and, hence, it is not an investment as contemplated by section 13(1)(d)

No export rebate if assessee failed to prove that goods were exported using those inputs on which du

Excise & Customs : Only if it is established and proved by assessee that assessee exported goods by using inputs on which duty was paid, then only, assessee shall be entitled to rebate

MCA abolished concept of maximum useful life of asset; allows flexible life supported by technical a

COMPANIES ACT, 2013/AAA : Section 123 of the Companies Act, 2013 - Declaration of Dividend – Amendment in Schedule II

Exp. disallowed by TPO while computing ALP couldn’t be considered for determining operating margin a

IT/ILT : Where assessee company had already deducted tax under section 192 on entire salary including salary reimbursed to parent company, disallowance under section 40(a)(iii) was not proper

HC recalls winding-up order as applicant’s argument regarding repayment of debt wasn’t controverted

CL: Where erstwhile director of company-in-liquidation filed instant application seeking recall of winding up order passed earlier contending that amount due to creditors had been paid, in view of fact that said contention was not controverted by concerned creditors, instant application was to be allowed