Tribunal couldn't decide appeal on merits if appellate authority had dismissed appeal due to pre-dep

CST & VAT: Where Appellate Authority dismissed appeal of assessee on account of non deposit of amount of pre deposit and Tribunal, on appeal filed against impugned order, decided appeal on merits, matter was remanded to Tribunal for consideration afresh bearing in mind that appeal before it was against dismissal of appeal on ground of non deposit of amount

Exp. incurred on abandoned projects is allowable under sec. 37(1)

IT : Where assessee incurs a liability under a contract which is terminated and therefore no amount under contract or in pursuance of a claim is receivable, assessee is entitled to claim said amount incurred as expenditure in implementing contract

Tribunal can recall its order if it is contrary to dictum laid down by the Apex Court, rules High Co

IT: An order, which is contrary to a judgment of Supreme Court, is patently erroneous and can be recalled by Tribunal

ITAT deletes disallowance as AO failed to prove that payments were made to related parties and they

IT: Where Assessing Officer had failed to prove that concerns were related parties as defined under section 40A(2)(b) and, payments were excessive, there was no case for making disallowance of 'agents incentive' paid by assessee to two concerns by invoking provisions of section 40A(2)(a)

Co. providing investment advisory service in not functionally comparable with Co. engaged in merchan

IT/ILT : Where TPO made addition to assessee's ALP in respect of rendering investment advisory services to its AE on basis of TNMM by adopting one 'M' as comparable, in view of fact that 'M' was engaged in business of merchant banking and, thus, it being a case of functional difference, impugned addition was to be set aside

Supreme Court admits appeal relating to service tax liability on oil-well drilling contracts

Service Tax : Supreme Court admits appeal against Tribunal judgment holding that Drilling of exploratory wells using own equipments would be : (a) mining services during 1-6-2007 to 15-5-2008, and (b) Supply of Tangible Goods for Use Services thereafter

Takeover option wasn't available to petitioner as he failed to exercise it within 15 days of order o

CL : Where pursuant to CLB's order petitioner exercised takeover option of respondent company, as a relief to bring an end to acts of oppression and mismanagement, beyond 15 days from date of relevant orders of CLB and High Court, such option was no more available

ITAT upholds OECD bar on use of TNMM for entities which are less successful than average ones for co

IT/ILT : OECD guidelines provide that in no case transaction profit method (TNMM/PSM) should be used on enterprises which are less or more successful than the average and where the reasons for success/lack thereof is attributable to commercial factors

Tribunal had to adhere to principle of consistency while passing pre-deposit orders

Excise & Customs : If, in same situation on same grounds, interim order has been passed imposing certain conditions, then, in subsequent cases, for maintaining certainty and consistency, Tribunal ought to pass identical order

Any transfer of funds from capital account of partner to the firm couldn't be deemed as violation of

IT: Where partners of firm gives money to firm in need of business exigencies and received it back through capital account, both in cash; no penalty could be levied

Order cancelling registration of dealers was invalid as it was not a speaking order

CST & VAT : Where Assessing Officer cancelled registration certificates of assessee giving following reasons : 'August 30, 2013 Jhabua Circle year 1999-2000 to 2006-07 recovery amount Rs. 146.90 lakhs', these reasons were not sufficient enough so as to call order as reasoned order

No sec. 80P relief without inquiring as to whether bank was established as primary agriculture credi

IT : While allowing claim under section 80P, an enquiry has to be conducted whether co-operative bank is conducting business as a primary agriculture credit society or a primary co-operative agricultural and rural development bank; claim cannot be allowed merely on basis of registration or nomenclature

HC allows assessee to make fresh representation as order of joint DGFT denying drawback claim was no

Excise & Customs : Where order of Joint DGFT denying drawback was violative of principles of natural justice and was non-speaking order, High Court permitted assessee to make fresh representations thereagainst before DGFT

Annual payment of royalty on basis of turnover is to be treated as revenue exp.

IT : Annual royalty paid for use of technology on basis of turnover of domestic sale was to be treated as revenue expenditure

CBEC appoints officers of Central Excise to conduct audit and issue show cause notices

EXCISE & CUSTOMS LAWS : Section 2(b) of The Central Excise Act, 1944, read with Rule 3(1) of The Central Excise Rules, 2002 – Central Excise Officer - Appointment of Officers of Central Excise Working in Audit Formations and Investing them with Powers of Central Excise Officers

ITAT set-aside order of DRP as it didn't give reasoned findings on contentions raised by assessee

IT/ILT: In absence of reasoned finding by DRP on contentions/evidence of assessee not raised before Assessing Officer, order of DRP amounted to non-speaking order which could not be upheld

Cenvat credit couldn't be denied merely because original manufacturer of inputs was non-traceable

Cenvat Credit : Where assessee had complied with all procedures of law in availing credit and taken all steps in accordance with law, credit cannot be denied merely because original manufacturer of inputs is not traceable

In cheque bouncing cases, territorial jurisdiction is restricted to that Court where offence is comm

CL : In case of dishonour of cheque, territorial jurisdiction is restricted to Court where cheque is dishonoured by bank on which it is drawn