Bank estopped from claiming interest on debt as it had agreed to liquidator's method of disbursing p

CL : Where appellant secured creditor agreed to Official Liquidator's method for disbursement of company's funds by paying only principal sum, appellant was estopped from challenging such method

Assessment to be made within 1 year of revival of proceeding if it got revived on non-payment of tax

IT : Tax being un-paid till specified date, proceedings before Settlement Commission was to be held abated

Input credit available on consumables used in work contract as assessee was manufacturing dutiable p

CST & VAT : Where assessee was engaged in business of printing and dyeing of fabrics manufactured by itself as also printing and dyeing of fabrics on works contract for others, it was entitled to deduction of input tax paid on consumables used in process of works contract

No denial of sec. 11 relief on non-filing of Form 10 if details about sums set apart for next year i

IT : Section 11 exemption cannot be denied merely on ground of furnishing Form 10 information by way of letter

ITAT directs TPO to re-examine ALP as assessee was in first year of operation and had incurred high

IT : Where variation in arm's length price took place because assessee company was in its first year of operation and it incurred higher expenditure on import duty on raw material, matter was to be remanded to TPO for re-consideration

HC grants complete stay of demand as Apex's Court's verdict relied upon by revenue was overruled in

CST & VAT: Where Assessing Authority made assessment relying upon decision of Supreme Court rendered in case of State of Andhra Pradesh v. Kone Elevators (India) Ltd. [2005] 140 STC 22 and raised tax demand upon assessee, since said judgment had now been overruled by Supreme Court in another case, assessee was entitled to complete stay of demand

Exp. on installation of computer software and lift was in nature of revenue exp., rules HC

IT : Expenditure incurred on installation of computer software, electrical work and installation of lifts was to be allowed as revenue expenditure

ITAT directs AO to decide whether receipt for customized research/retail management services would r

IT/ILT : Where assessee, a US based company, received certain amount from rendering customised research services and retail management services to its group concerns located in India, conclude as to whether consideration received by assessee company would fall within meaning of 'Royalty' or 'Fees for included services', matter was to be remanded back for disposal afresh in light of article 12 of India USA DTAA

No evasion penalty merely for non-filling of invoice number and date in the declaration Form ST-18C

CST & VAT : Where Assessing Officer having found that in declaration form ST-18C column of 'invoice number and date' was not filled in imposed penalty upon assessee under section 78(5), imposition of penalty was not justified

No TDS on commission paid to foreign agent for carrying out export sales outside India

IT/ILT: Where a non-resident agent of an Indian company operates outside country and payment is remitted directly abroad, merely because an entry in books of Indian Company is made, it does not mean that the non-resident has received any payment in India

HC reduced pre-deposit as CBEC's circular beneficial to assessee was not considered by lower authori

Excise & Customs : In view of circular No. 34/2007-Cus., dated 17-9-2007 separate chemically defined compounds are classifiable under Chapter 29

HC denied refund of pre-deposit as NPA amount payable by petitioner exceeded pre-deposit made before

SARFAESI : Where NPA amounts payable by petitioner to bank exceeded total deposit made by petitioner before Tribunal for hearing its appeal, application for refund of 25 per cent of deposit was to be rejected

Cultivation of land and its classification as agricultural land in revenue records proved it as a ag

IT-I : Where pursuant to search carried out in case of 'P', Assessing Officer recorded a satisfaction note that certain incriminating material seized belonged to assessee and, it was on basis of said satisfaction recorded in course of proceedings under section 153A, assessment proceedings were initiated in case of assessee under section 153C, there being no infirmity in procedure adopted by revenue, validity of impugned proceedings was to be upheld

HC upheld VAT penalty on assessee when declaration Form ST-18A was found blank

CST & VAT : When declaration Form ST-18A accompanied with goods in transit was found blank, levy of penalty under section 78(5) of Rajasthan Sales Tax Act, 1994 was justified

Mere writing off of provision would not trigger sec. 41(1) if it wasn’t claimed as deduction in prio

IT : Where assessee only made a provision for a possible expenditure or liability and neither an allowance nor deduction was claimed, section 41(1) would not apply

ITAT directs AO to examine technicality of a service before treating it as 'FTS'

IT/ILT : Where by nomenclature of services provided by assessee, a foreign company, to its associate concerns, it was not clear as to what technicality was involved, Assessing Officer shall examine relevant documents to ascertain nature of services rendered

Assessing authority couldn’t pass order if assessee's counsel failed to attend hearing due to person

CST & VAT : Where assessee's counsel could not attend at time of hearing because of his personal reason and thereupon Assessing Authority and Appellate Authority passed orders on assessee without giving opportunity, matter was sent back to make fresh assessment after affording opportunity to assessee

Respondent-Co. couldn’t refuse to transfer pledged shares to petitioner after making-up default in p

CL: Respondent-company could not refuse to transfer pledged shares in name of petitioner where right to shares had already accrued to petitioner on account of default in payment by respondent-company