Distinction between renting and hiring of cab is illusory; both are liable to service-tax

Service-tax : Supplying cars/vehicles under a rate contract basis, depending upon distance, time and usage of vehicles amounts to 'rent-a-cab service' and liable to service tax and, for this purpose, difference between renting and hiring of a cab is an illusory distinction

Concealment penalty imposed for claiming interest paid under Income-tax Act as business expenditure

IT: Where assessee-company had committed an error in preparing its return of income and its action in claiming impugned interest levied and paid under sections 234A, 234B and 234C as a business expenditure was a misrepresentation, levy of penalty in respect of impugned claim was justified

Protest was invalid if assessee had not challenged the classification list approved by department

Central Excise : Where after alleged filing of protest letter, assessee had filed classification lists, which were approved by department, and assessee had never challenged said classification in appeal, protest, if any, had become invalid in eyes of law; therefore, refund claim was barred by limitation

Liability arose due to book entries were outside the ambit of sec. 269SS, rules HC

IT: Object of section 269SS is to prevent transaction in currency; it is not intended to affect cases where a debt or a liability arises on account of book entries

Co. incurring abnormal losses due to winding-up of relation with key clients are excludible from com

IT/ILT : A company having incurred super losses due to extraordinary events, like winding up of relationship with clients, filing of bankruptcy by some clients, etc., is to be excluded from comparables list; simultaneously company earning super profit should also have to be excluded from list of comparables

No suppression of facts if nature of input services couldn’t be disclosed in excise return in absenc

Cenvat Credit : In absence of any column in returns requiring nature of input or input services to be disclosed, non-disclosure of same cannot attribute any malafide to assessee and, therefore, extended period of limitation cannot be invoked

FMC’s order declaring a Co. ‘unfit’ to hold shares in commodity exchange would apply to security mar

SEBI : Where trades regulated by FMC and SEBI are nothing but different facets of trade operating within financial market system in India, order passed by FMC declaring a company as not a "fit and proper person" to acquire or hold shares of commodity exchange would ipso facto apply to securities market regulated by SEBI