Manufacturer couldn’t be deemed as job-worker merely due to professional control of buyer over raw m

Excise & Customs : Where assessee manufactures coolers and sells them to buyer, said transaction cannot be regarded as job-work transaction merely because of professional control of buyer over raw material purchases by assessee to ensure quality and timely supply; rule 10A of Valuation Rules, 2000 is inapplicable

MCA tweaks norms for DIN, excludes requirement of PAN in data bank of eligible independent directors

COMPANIES ACT, 2013/INDIAN ACTS & RULES : Companies (Appointment and Qualification of Directors) Amendment Rules, 2014 - Amendment in Rules 6, 9, 10, 11, 12; Insertion of Rule 10A, Forms DIR-3A, DIR-3B and DIR-3C; Omission of Form DIR-1 and Substitution of Form DIR-3

Contribution towards approved group gratuity scheme of LIC is a deductible exp. under section 36(1)(

IT: Liability to pay in respect of salary settlement crystallizes in year of approval

Particulars in Form A4 are essential for verifying unfructified sales as well as refund claim on unf

CST & VAT : Particulars prescribed in Form A4 were essential for verifying claim for unfructified sale as well as for refund

SC: HC couldn’t quash complaint against dishonour of cheque merely for want of proof of service of n

Negotiable Instruments Act: Complaint under section 138 cannot be quashed on ground that there was no proof of service of notice as same is matter of evidence

No TDS liability of assessee on fees charged by NR bank for ‘LOC’ if it had privity of contract with

IT/ILT : Where a foreign bank charged certain sum terming it as interest on an Indian bank in process of negotiating letter of credit on behalf of its customer i.e. assessee, and said bank recouped amount from assessee, in view of fact that assessee had privity of contract with Indian bank and amounts were also paid to Indian bank only, transaction in question could not be said to fall within meaning of section 195 and, therefore, assessee was not required to deduct tax at source while making pa

Commission paid to foreign agents for procuring export orders was outside the ambit of 'FTS'

IT/ILT : Commission paid by assessee to its foreign agent for arranging of export sales and recovery of payments could not be regarded as 'fee for technical services' under section 9(1)(vii) and, thus, assessee was not liable to deduct tax at source while making said payment

Electric control panel manufactured by appellant was plant and machinery; eligible for lower rate of

CST& VAT : Where assessee was engaged in manufacture of electric control panel and transformer and same were used in manufacture as plant and machinery, products were covered by Entry No. A-88 of notification issued under section 41 of Bombay Sales Tax Act

HC set aside block assessment proceedings as AO failed to record satisfaction within 2 years of sear

IT: Assessing Officer is bound to record satisfaction within meaning of section 158BD within two-year time period stipulated in section 158BE(1)

Tribunal's order directing penalty is valid from the date when it is passed and not from date of its

Excise & Customs : Where Tribunal gave an option to assessee pay 25 per cent penalty within 30 days from today i.e., from 22-7-2010; payment on 30-8-2010 was not in compliance with direction of Tribunal and, therefore, assessee was liable to full penalty

No denial of TDS credit on its non-appearance in ITD system of department if Form No. 16A was issued

IT: Where deductor having deducted TDS, issued Form No. 16A, credit of same can not be denied to assessee deductee solely on ground that such credit does not appear on ITD system of department and/or same does not match with ITD system of department

CBEC instructs department to appeal against cases involving levy of SAD on imports made under DEPB S

EXCISE & CUSTOMS LAWS : Proposal for Filing of Review Petition Before Supreme Court Against Order Dated 15-02-2013 Passed by Supreme Court in Sld(c) CC No.3741/2013 Filed by Department in Case of Uoi Vs. Gujarat Ambuja Exports Ltd.

Delhi CESTAT lists out instances in which appeals can be admitted for credit adjustment against mand

ST LAWS : Clarification on Registration of Appeals Received on or After 6-8-2014 Subsequent to Amendment in Customs Act, 1962, Central Excsie Act, 1944 and Finance Act, 1994

Goods detained by Commercial Tax officer due to undervaluation to be released subject to payment of

CST & VAT : Where assessee sold goods to various registered dealers and sent same to them in different vehicles and CTO detained goods on grounds of under valuation, CTO was directed to release goods on payment of tax by assessee

Disclosure of additional income in revised return after filing of block return would attract penalty

IT: Undisclosed income disclosed by assessee after filing revised return under section 158BC, would attract penalty under section 158BFA

Technical payments to AEs couldn’t be held as nil if payments under technical agreement were duly ap

IT/ILT: Where TPO made adjustment to assessee's ALP taking a view that value of technical know how fee and royalty paid by assessee to its promoter company was nil, in view of fact that technical service agreement was duly approved by RBI and, moreover, TPO had not analysed payments in question either under TNMM method or under any other method as required by transfer pricing provisions, impugned disallowance made by TPO was to be set aside

Transfer of employees as per circular in force couldn’t be withdrawn due to subsequent change in pol

Excise & Customs : Where petitioner had applied for inter-commissionerate transfer and she had been allowed said transfer as per Circular in force at that time, such transfer could not be withdrawn on subsequent change in policy

No prejudice caused to petitioners on change of BIFR bench as they availed of opportunity to put for

SICA: In proceedings before BIFR, mere change of Bench would not be prejudicial if at every stage of proceedings, petitioners were given full and complete opportunity to put forth their case which they availed

CBDT extends 80% rate of depreciation on windmills and devices running on wind energy installed afte

IT : Income-Tax (Eighth Amendment) Rules, 2014 - Amendment in New Appendix-I