IT : Commencement of activity is not a pre-condition for registration of trust when objects of trust and its genuineness is not questioned
Sunday 19 October 2014
Sec. 234D applicable in case of assessments completed after June 1, 2003 without considering year of
IT : In case of any assessment completed after 1-6-2003, regardless of year of assessment, provisions of section 234D would be applicable to such assessment year
Administrative charges collected on sale of fly ash couldn't be termed as business support services
Service Tax : Administrative charges towards sale of fly ash cannot be termed as business support service, more so when in respect of subsequent period, department was holding it to be not service, but sale of fly ash and recovering excise duty thereon
No winding-up petition against a Co. for non-recovery of debt due to its illegal status
CL: Once a debt is rendered unrecoverable owing to its illegal status, section 433(e) cannot be pressed into service for winding up of a company on ground that it did not pay such an illegal and unrecoverable debt
ITAT directs AO to re-examine ALP as assessee had filed annual reports of comparables rejected by TP
IT/ILT: Where TPO rejected comparables given by assessee on ground that annual report of those companies were not available, however, assessee filed financial summaries of those 9 companies and annual reports in case of 7 companies out of 9 companies, matter required readjudication
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