Withdrawal of exemption notification from retro-effect validated SCNs issued prior to its withdrawal

Excise & Customs : Where retrospective amendment denying exemption and validating demand in issued in 2003, such amendment validates notices issued during prior period viz. in year 2001; there is no need for fresh notice/individual hearing

Severance pay of employees allowable under Sec. 35DDA when assessee had just outsourced its producti

IT : Where assessee having transferred its manufacturing facility of alcoholic beverages to another company, claimed deduction of severance pay of employees in terms of section 35DDA, in view of fact that it was a case of running its business more efficiently and not a case of closure of business, assessee's claim for deduction was to be allowed

Proceedings couldn’t be initiated for TDS default if re-assessment time-limit against payee had expi

IT : No order under section 201(1)/201(1A) can be passed where revenue has not taken any action against payee and further time limit for taking action against payee under section 147 has also expired

Revenue couldn’t reject revised return of ST as it could only call for records in case of any doubts

Service-tax : When a revised return is filed, department may call assessee and ask them to explain why difference has arisen and why taxable value was not shown correctly; department has no power to reject/ignore revised return completely

Sec. 40A(2) disallowance upheld as assessee failed to provide comparable data on market price of its

IT : Penalty under section 271(1)(c) cannot be imposed merely on ground that there were defects in account books of assessee and flat rate of profit is applied to arrive at gross profits of assessee

Employer couldn’t avail of credit for Catering services after recovering cost of such services from

Cenvat Credit : Where it was found that assessee was recovering amount from beneficiaries/its own employees while running canteen, assessee was not entitled to Cenvat Credit claimed by it in respect of catering services

Limitation period for presentation of cheque excludes first day on which cheque is drawn but include

Negotiable Instruments Act: Word 'from' in section 138(a) requires exclusion of first day on which cheque was drawn and inclusion of last day within which such act needs to be done and, therefore, six months would expire one day prior to date in corresponding month and in case no such day falls, last day of immediate previous month

TP adjustments on basis of comparables with higher related party transactions aren’t justified

IT/ILT : Where TPO made certain addition to assessee's ALP in relation to international transactions entered into with AE relating to software development services, in view of fact that in case of one comparable selected by TPO, there was merger of another company which resulted in its earning high operating margin and, moreover, some other comparables were found inappropriate on account of functional difference and related party transactions, impugned addition was to be set aside and, matter wa

Govt. amends West Bengal VAT Act; asks additional details in new annexure, includes professionals in

CST & VAT/INDIAN ACTS & RULES : West Bengal Value Added Tax Rules, 2005 – Amendment In Rules 2, 6, 6B, 30, 34, 34A, 34AAA,43, 46XA, 46XB, 48A, 76, 89, 100A, 103A, 104A, 121, 135, 155, 156, 195, 196, 198 and 207 and Insertion of Rules 12A, 35A, 49A, 54B & 207A

Kingfisher Airlines 'a king of not so good times': HC held it as an assessee-in-default for failure

IT : Where assessee-company having deducted tax at source from salaries paid to it employees, did not remit same to Central Government account, Assessing Authority was justified in holding assessee to be "assessee-in-default" and directing it to pay amount so deducted with interest

Prior to May 10, 2008, service tax penalties under sctions 76 and 78 were imposable simultaneously

Service-tax : Proviso inserted in section 78 is prospective from 10-5-2008; for period prior to 10-5-2008, penalties under both sections 76 and 78 were imposable simultaneously for failure to pay service tax even if notice is issued on or after 10-5-2008

Enamel, fiberglass yarn and paper used in manufacturing are liable to VAT at 12.5% under Karnataka V

CST & VAT: Where assessee received from customer copper wire and converted it into insulated copper wire by using enamel, fiberglass yarn and paper and delivered finished product to customer, enamel, fiberglass yarn and paper used in manufacturing process were liable to tax at rate of 12.5 per cent

Hiring of tankers for movement of goods and payment on per km. basis amounts to GTA services

Service Tax : Where assessee had engaged transporters owing tankers for movement of their own goods and said transporters were paid on basis of running of tankers on per km. basis, said services were prima facie GTA Services

Instruction to select cases for scrutiny – Trust availing of relief after cancellation of approval u

IT/ILT: Section 143 of the Income-Tax Act, 1961 - Assessment - General - Compulsory Manual Selection of Cases for Scrutiny During Financial Year 2014-15

Now foreign ECB lenders can extend loan in Indian rupees to residents

FEMA/ILT : External Commercial Borrowings (ECB) in Indian Rupees

HC reduces pre-deposit of ST on renewal fees recovered by multi-level marketing companies

Service Tax : Where Commissioner (Appeals) had ordered full pre-deposit of service tax under Business Support Services on renewal fees/card charges recovered by multi-level marketing (MLM) business division, HC reduced pre-deposit, as assessee had arguable case

Role of TPO is to determine ALP of International Transaction which can’t be stretched to reject tran

IT/ILT : Role of TPO is to determine arm's length price of a transaction, however, he cannot reject entire payment under provisions of section 92CA

No unjust enrichment if predeposit was refunded by assessee at the time of pre or post adjudication

Excise & Customs : Provisions of limitation or provisions of unjust enrichment do not apply to refund of amounts of pre-deposit irrespective of whether such deposits are made pre-adjudication or post adjudication

Removal of petitioner as director of rival business with similar name couldn’t be said to be oppress

CL: Where on account of mere vague and sweeping charges and proved misconduct of petitioner for setting up a rival business in identical name to name of respondent company, petitioner was not entitled to any relief under sections 397 and 398

Reassessment quashed as it was made without issuing notice under sec. 143(2)

IT: Assessment completed without issue of notice under section 143(2) is invalid