Builder undertaking development agreements through society was liable to ST under real estate Agent’

Service Tax : Where a builder : (a) forms society to buy land in its name and finances said purchase by extending loan to society; (b) sells building units in name of society thereby society collecting sale proceeds; and (c) recovers cost of construction and other charges, etc. from society; builder would be regarded as providing 'construction/real estate agent' services to society and liable to service tax

Exp. on non-compete fees is in nature of capital exp.; eligible for depreciation, rules HC

IT : Expenditure incurred for acquiring non-compete right is capital in nature entitled to depreciation under section 32(1)(ii)

High Court interprets words ‘substantially’; lays down 50% threshold for indirect transfer of capita

IT/ILT : There can be no recourse to Explanation 5 to enlarge scope of section 9(1) so as to bring to tax gains or income that may arise from transfer of an asset situated outside India, which does not derive bulk of its value from asset situated in India

No TDS liability of individual under sec. 194H if his turnover didn’t exceed sec. 44AB limit in prec

IT: Where assessee's turnover did not exceed prescribed amount in immediate preceding year, TDS provisions under section 194H was not applicable

Inland haulage charges are part of income from operation of ships; not taxable under India-Belgium D

IT/ILT: Inland Haulage Charges earned by assessee being part of income derived from operation of ships in international traffic are covered under article 8 of Double Tax Avoidance Agreement (DTAA) entered into between India and Belgium and consequently not taxable as business profits in India

Commission earned on meal/gift vouchers facilitating promotion of affiliate’s business was taxable a

Service Tax : Charges/Commission earned by provider of meal/gift vouchers from affiliates where meal/gifts can be received by public using such vouchers is towards promotion of business of affiliates and is liable to service tax under Business Auxiliary Services

SC: Bank manager couldn’t be charged with conspiracy who hadn’t honoured stolen cheque on customer’s

CL: Where one of stolen cheques of accountholder presented in bank was not honoured as per his only instructions, criminal complaint against branch manager for not honouring cheque

Dealer liable for penalty if supplier had admitted issuance of fake Cenvatable invoices without move

Excise & Customs : Where raw material supplier has admitted that he had issued Cenvatable invoices without actually supplying goods and assessee-dealer cannot prove certainly that goods received by him were actually duty-paid and were of said supplier, said facts are sufficient to prove 'fraud' and assessee-dealer is liable to penalty

Bank couldn’t be treated as an assessee-in-default merely due to some technical defects in Form 15G

IT: Where depositors had furnished declaration in prescribed manner requesting deductor not to deduct tax at source, deductor was under a statutory obligation not to deduct tax and in aforesaid circumstances, deductor could not be penalized for not deducting tax at source

GTA service provider isn’t liable for ST, irrespective of status of consignee when consignor is a co

Service Tax : If consignor of goods is a company/factory under Factories Act, then, as per Rule 2(1)(d)(v) of Service Tax Rules, 1994, irrespective of status of consignee, person liable to pay service tax is person liable to pay freight and, therefore, no service tax can be demanded from Goods Transport Agency

Interest paid to minors on their deposits with firm was to be clubbed under sec. 64 as it was capita

IT : Where amount credited in account of minor in partnership firm was to be treated as capital investment, interest paid on such account would be clubbed under section 64(1)(iii) with income of assessee

CLB constitutes Mumbai bench for 'Lok Adalat' to be held in Sept. and Oct. 2014

COMPANIES ACT, 1956 : Section 10E of The Companies Act, 1956, read with Regulation 4 of The Company Law Board Regulations, 1991 – Constitution of Board of Company Law Administration – Constitution of Mumbai Bench – Amendment In Order of Even Number, Dated 25-9-2013

Ministry frames guidelines for nomination of members of SEZ authority

SEZ : Guidelines for Nomination as Member of SEZ Authority

CLB brings all States of Southern India under the jurisdiction of Chennai Bench

COMPANIES ACT, 1956 : Section 10E of The Companies Act, 1956, read with Regulation 4 of The Company Law Board Regulations, 1991 – Constitution of Board of Company Law Administration – Revision in Work Distribution of Chennai Bench – Amendment In Order of Even Number, Dated 25-9-2013

Rectification wasn’t permissible if no mistake was pointed out in order of ITAT; review petition dis

IT : Where assessee had filed review petition against order of Tribunal and grounds raised therein were general in nature and further assessee could not point out any specific mistake in said order, petition was to be dismissed

Royalty on variants of product couldn't be disallowed if royalty on original products were considere

IT/ILT: Where TPO had accepted 'most appropriate method' followed by assessee and approved arm's length price of royalty rate determined by asseesee, with respect to payment of royalty of products, claim of assessee on payments of royalty on variants of products was to be allowed

Imparting training for medical transcription and to insurance agents with aid of technology is vocat

Service Tax : Technology based training for employment skill development and training courses for medical transcription, insurance agents etc. are vocational course and are exempt from service tax

HC gave relief to director as show cause notice alleging default was issued after one year of offenc

CL: Show-cause notice issued beyond period of one year of commission of offence was barred by limitation