CBDT notifies functional jurisdiction of Direct Taxes Regional Training Institutes

IT : Section 120 of The Income-Tax Act, 1961 - Income-Tax Authorities - Jurisdiction of – Direct Taxes Regional Training Institutes (DTRTIS)

CBDT notifies functional jurisdiction of Ministerial Staff Training Units

IT : Section 120 of The Income-Tax Act, 1961 - Income-Tax Authorities - Jurisdiction of – Ministerial Staff Training Units (MSTUs)

Tribunal can extend stay after passing speaking order that delay isn’t attributable to assessee

Excise & Customs : Tribunal may extend stay each time only after passing a speaking/reasoned order that delay in disposal of appeal is not attributable to assessee

Donation by one charitable trust to other charitable trust amounts to application of income

IT : In order to obtain approval under section 80G(5), donation made by a charitable trust to other charitable trusts/institutions amounts to application of income within meaning of section 11(1)(a)

HC directs fresh adjudication as assessment order was passed by AO without hearing assessee

CST & VAT : Where Assessing Authority passed assessment order on assessee without affording opportunity of hearing, matter was remitted for fresh adjudication after affording opportunity of hearing to assessee

HC follows SC’s ruling in Savdik’s case; directs revenue to pay compensation if payment of interest

IT : If tax, interest, penalty, etc., has been collected in excess and it is withheld beyond permissible period under Act, Revenue should compensate for same

Assessee couldn’t take Cenvat credit on basis of zerox copy of invoice, rules High Court

Cenvat Credit : A photocopy of invoice cannot be recognised either as an original or duplicate or triplicate or quadruplicate; it is no document at all in terms of rules and, therefore, no credit can be taken on basis thereof

CLB denied relief prayed for by Petitioner Co. as it deliberately withheld facts vital for decision

CL: Where facts regarding pendency of disputes before Arbitral Tribunal in respect of resignation and appointment of directors by petitioner company was deliberately withheld, respondent company could not be directed to file form 32 with ROC in view of Share subscription and shareholders agreements

TPO couldn’t reject a manufacturing comparable ignoring fact that assessee was into trading as well

IT/ILT : Where assessee was engaged in manufacture and marketing of food products but comparables were rejected by TPO on basis that assessee-company was engaged in sale of ready to eat items, matter was to be re-adjudicated

CT scan equipments are entitled to higher depreciation rate of 40%, says ITAT

IT : PET/CT scan equipment is entitled for higher rate of depreciation at 40 per cent

VAT penalty upheld as assessee didn’t obtain endorsement from check post while transporting goods fr

CST & VAT: Where assessee was carrying goods in a lorry from Tamil Nadu to Karnataka and it had not obtained any endorsement from check post of Karnataka, levy of penalty for non-compliance of mandatory requirements of law was justified

Renovation exp. by hotel to facilitate its business was allowable as revenue exp.

IT : Where renovation expenses did not bring any new asset and same merely facilitated assessee's business, same was allowable as revenue expenditure

No sec. 263 revision if taxability of lease rental relating to land developed for business purposes

IT : Where lease rentals were earned from land which were developed for creating film shooting facilities/locations and it was directly, connected with main activity of assessee, i.e., development of infrastructure for shooting locations, such rental income being capital in nature could not be held income

Delay in making pre-deposit condoned as delay occurred due to perusal of appellate remedy before HC

Excise & Customs : Delay in making pre-deposit as directed by Tribunal can be condoned where such delay occurred due to assessee pursuing appeal remedy before High Court against pre-deposit order of Tribunal

Equity investments in AE can’t be deemed as loans/advances; it’s outside the ambit of international

IT/ILT: Investments in nature of equity, cannot be treated as loans and advances and hence cannot be brought within purview of 'international transactions' as defined under section 92B

Respondent-Co gets a final opportunity to pay overdue sum due to director's effort for discharging C

CL : Where respondent company failed to pay sum due under hire purchase agreement and defences raised by it were not bona fide, a final opportunity to make payment was granted to respondent company in view of efforts of its director in discharging burden of defence on behalf of company