Demand for breach of exemption stipulations couldn’t be dropped on mere extension of letter of permi

Excise & Customs : Adjudicating Authority cannot drop excise/customs demand for violation of condition of exemption notification by 100 Per cent EOU merely because of LOP extension granted by Development Commissioner; LOP extension is a relevant factor in adjudication but not sole factor in adjudication

ITAT directs fresh examination to determine whether property was acquired compulsorily to attract se

IT : Where assessee municipal corporation acquired land with structure but did not deduct TDS under section 194L on compensation related to structure portion, matter was remanded back to decide whether property was acquired by mutual consent or by way of compulsory acquisition

TPO couldn’t compute ALP of indenting business on basis of profit earned from non-AE in trading busi

IT/ILT: Where assessee, a wholly owned subsidiary of foreign company, carried out indenting and trading transactions in India on its own, action of TPO in determining ALP in respect of indenting business by applying profit percentage earned by assessee from non-AE transactions under 'Trading business' segment could not be upheld

Commissioner (Appeals) couldn’t confirm ST demand under a category not proposed in show cause notice

Service Tax : Commissioner (Appeals) cannot travel beyond scope of show-cause notice and confirm demand under a category not proposed in show-cause notice

HC approves of amalgamation as no obstacle existed against it and concerned authorities accorded the

CL : Where in view of approval accorded by shareholders of petitioner companies, report filed by Official Liquidator, affidavit filed by Regional Director and replies of petitioner companies to reports of Official Liquidator and Regional Director there was no impediment to grant of sanction to scheme of amalgamation, same was to be sanctioned

Madhya Pradesh Govt. doubles ceiling of purchase price for levying purchase tax

Madhya Pradesh Value Added Tax Rules, 2006 – Insertion of Rule 5A

Kerala Govt. amends VAT Rules to provide stay against VAT recovery for specified dealers

Kerala Value Added Tax (Amendment) Rules, 2014 – Insertion of Rule 72A

SEBI notifies norms laying down framework to register and regulate research analysts in India

SEBI/INDIAN ACTS & RULES : SEBI (Research Analysts) Regulations, 2014

Directions for pre-deposits based on certain factors to prove secret removal of goods couldn’t be ch

Excise & Customs : Pre-deposit of Rs. 38 lakhs out of Rs. 230 lakhs after considering : (a) electricity consumption, (b) contradictions noted in assessee's books of account and (c) other material considered by adjudicating authority for alleging clandestine removal, cannot be regarded as unreasonable/arbitrary

Advance sum received by service provider deemed as income only when services are rendered by it

IT : Where an assessee receives sum for some services but said services are not to be performed in current year but in subsequent year, till performance of service by assessee, assessee cannot be said to have received amount on accrual as assessee cannot exercise its dominion over receipt and, thus, said receipt should be taxed in year in which assessee would render service to payee

SC allows additional time to assessee for compliance with pre-deposit order of first appellate autho

CST & VAT: In appropriate cases, assessee might be given some more time to comply with pre-deposit requirement for hearing of appeal

Sec. 35 relief: ITAT should resolve issue of reference to prescribed authority to decide use of asse

IT : Tribunal should give findings on applicability of section 35(3) while considering a deduction claim of scientific research expenditure under section 35(1)(i)

Non-availability of declaration Form with driver transmitting goods proved an intent to evade VAT; p

CST & VAT : Where Assessing Authority intercepted a vehicle carrying rice from Delhi to Khairthal Mandi without declaration Form ST-18A and thereupon he imposed penalty upon assessee under section 78(5) of Rajasthan Sales Tax Act, 1994, imposition of penalty was justified

Sums paid in pursuance of adjudication order shall be refunded if order was set aside and remanded

Central Excise : Sums paid in pursuance of an adjudication order, which has been set aside, become refundable automatically; said refund cannot be withheld merely because adjudicating is pending in remand proceedings

Payment of substantial excise duty proves incidence of manufacturing activities; HC allows sec. 80-I

IT: Where assessee was manufacturing goods and had in fact, paid Central excise duty, deduction under section 80-IB could not be denied

RBI tweaks Basel III Capital Regulations; revises eligibility criteria for issuing capital instrumen

BANKING : Implementation of Basel III Capital Regulations in India – Amendments

Revenue couldn’t direct VAT registration as per Circular issued by Commissioner if VAT Act didn’t pr

CST & VAT: When Kerala Value Added Tax, 2003 did not provide for registration of transporting agency, assessee was not liable to be registered under section 15

Blending of metal scrap to make ‘blended metal scrap’ amounts to manufacture, rules AAR

Excise & Customs : Process of blending of metal scrap to make 'blended metal scrap' (involving sorting grade wise, Cutting/Shredding/Crushing and sizing of oversize material and Bundling and briquetting) amounts to manufacture

Sum paid to Singaporean-Co. for logistic services wasn’t ‘FTS’ as it didn’t satisfy make available c

IT/ILT: Where a Singapore company rendered services to assessee, without making available to assessee its technical knowledge, experience or skill, there was no liability to deduct tax at source from payments made for services in question

No rectification of register of members by CLB if facts of instant case related to facts of civil su

CL: Company Law Board in exercise of discretionary and summary jurisdiction was justified in dismissing petition under section 111 as facts involved in said petition were closely related with facts in issue in civil suits filed by petitioner

Fortnight bills issued by truck owners couldn’t be deemed as consignment notes for purpose of GTA se

Service Tax : Fortnightly bills issued by individual truck owners transporting sugarcane, cannot be regarded as 'consignment note' and said service cannot be regarded as Goods Transport Agency's Services

Violation of sec. 13 results in denial of benefits in assessment and isn’t relevant to allow registr

IT : A trust or institution which is carrying on educational activities will fall within ambit of charitable purpose under section 2(15) even if it incidentally involves carrying on of commercial activities

AO must seek Committee's approval to tax indirect transfer cases for income arising before 1-4-2012

IT/ILT : Section 119 of the Income-Tax Act, 1961 - Income-Tax Authorities - Instructions to Subordinate Authorities - Constitution of A Committee for Proper Administration of Certain Clarificatory Amendments Introduced in Clauses (14) And (47) of Section 2, Section 9(1)(i) and Section 195 vide Finance Act, 2012 – Specified Directions to Assessing Officer in this regard