HC directs Tribunal to reconsider case as judgment relied upon by it had been overruled by Apex Cour

Excise & Customs : Where High Court judgment relied upon by Tribunal was overruled by Supreme Court and other contentions were not dealt with by Tribunal, matter was to be remanded back for reconsideration by Tribunal

Mere availability of additional facts during search couldn't shut out regular assessment order at th

IT : Where in course of regular proceedings, Tribunal deleted addition of capital gain holding that assessee's claim was genuine but, subsequently, pursuant to search proceedings, Tribunal held that amount of capital gain earned by assessee was taxable as 'income from other sources', rectification application filed by assessee could not be dismissed at threshold on ground that in view of certain further facts available in search and seizure finding recorded in regular assessment could not be giv

No purchase tax on jelly being obtained on payment of royalty as it was consumed to manufacture read

CST & VAT : Where assessee obtained jelly from its quarry after payment of royalty and consumed same in manufacture of ready mix concrete, it was not liable to pay purchase tax on jelly

Forex gain couldn’t be taxed separately as it was incidental to profits earned by Cos covered under

IT : Where assessee, a shipping company, had earned foreign currency transaction gain, same could not be taxed separately because on account of such business activity alone such gain arose

Sec. 115A doesn't debar assessee from entering into a new agreement to have lower tax rate on royalt

IT/ILT : Provisions of section 115A(1)(b)(AA) do not debar assessee to entre into new agreement after change of situation resulting in reduced rate of royalty

Delay in filing departmental appeal due to time spent in taking approval from CBEC is condonable

Service Tax : Where appeal was filed by department after taking approval from CBEC and delay had been caused thereby, such delay was condonable

Bye laws of NSE permit only annulment of those trades in which there is a material mistake in trade

SEBI: Bye-law 5(a) does not permit annulment of trades executed by mistake, but permits annulment of only those trades where there is material mistake in trade

Tribunal couldn't reduce penalty provided under sec. 11AC if requisite mens rea existed

Excise & Customs : If requisite mens rea exists, penalty provided under Section 11AC is mandatory; hence, where Tribunal had reduced penalty despite upholding charge of evasion, matter was remanded back to Tribunal for consideration afresh

No addition as AO failed to prove that assessee was conducting certain coaching classes to earn undi

IT : Where Assessing Officer made addition to assessee's income taking a view that assessee conducted classes in Gujarat medium also income in respect of which had not been offered to tax, in view of fact that brochures of tuition published by assessee did not mention that classes were being conducted in Gujarati medium, impugned addition was to be set aside

Prior to 16-6-2005, reshelling of sugar mill rollers was not liable to service tax

Service Tax : Job work/processing of old and worn out sugar mill rollers by de-shelling, re-shelling and further processing like machining and growing etc. is liable to service tax under Management, Maintenance or Repair Services only from 16-6-2005

HC upheld reassessment as it was bases on finding of VAT authorities and not on basis of SCN of Exci

CST & VAT: Where Excise Department conducted raid upon assessee and issued show cause notice on it and thereafter Assessing Officer passed reassessment order on assessee, since there were findings by authorities below that there was evasion of tax by assessee, it could not be said that reassessment order had been passed incorporating details of show cause notice issued by Excise Department

No reassessment to disallow claim of bad-debt if full and true disclosure was made during original a

IT : Where assessee had furnished full details in respect of its claim for bad debts and provision made for diminution in investments in its original computation of income, reassessment to make addition for said provision be deleted

No dismissal of appeal for want of COD clearance if procedure of obtaining such clearance had been r

Excise & Customs : Since directions of Supreme Court mandating CoD clearance were recalled by Supreme Court itself on 17-2-2011, appeal could not be dismissed for want of CoD clearance on or after said date, even if appeal was filed before said date